Comments on: 5 Practical Ways Anybody Can Become a Millionaire

By: DR

DR — Wed, 04 Nov 2009 11:19:50 +0000

Financial Samurai, I’m not sure why you only count cash. In fact, given the declining value of the U.S. dollar, real estate and stocks might be far better in the long run.

By: Financial Samurai

Financial Samurai — Wed, 04 Nov 2009 04:31:02 +0000

Nice categories of millionaires! I would definitely strike out the homeowner millionaire category though, until one sells that home. 401K, I attribute a 50% value.

The only thing I believe determines net worth is the cash in your bank. Everything else is an illusion, otherwise, Zillow is my new best friend!

By: DR

DR — Sun, 01 Nov 2009 15:18:48 +0000

Mel, I’ve owned the Boglehead’s Guide to Investing for a long time, and I’m very happy to recommend it. Also looking forward to reading your new book–thanks for mentioning it.

By: Mark Crawford

Mark Crawford — Sat, 31 Oct 2009 18:48:30 +0000

After reading some of this information I feel like a caveman in the dinosaur age. What can my wife and I do? For instance; we are in our late 40′s with no savings accumulated and only a meager $7k in a 401K account. We do not own a home or are we buying one at this time. Do to past marriages we we’re in, we are virtually broke. Our combined income is approximately $70,000. We think that we will have to work until the day that we die. If I leave my job and loose my current health insurance, prescriptions will wipe us out. People call us from time to time wanting me to start an internet business but I don t trust them to give them my credit card information. We have both been victims of identity theft which took years to recover from. My bottom line is that I realize the need of the computer to successfully retire. I do not have the knowledge I need to accomplish this.

By: Mel Lindauer

Mel Lindauer — Sat, 31 Oct 2009 17:29:15 +0000

Hi Karen: Just wanted to thank you for recommending our book, "The Bogleheads' Guide to Investing", in your MSN story, "5 steps to becoming a millionaire". That book continues to do well, since it's timeless information. We now have a new Bogleheads community book which just came out on Oct. 5th titled "The Bogleheads' Guide to Retirement Planning". We're thrilled that it's been #1 in category at Amazon.com for over a month now. We donated all the proceeds of that book to the National Constitution Center in Philadelphia in honor or Jack Bogle, who served as Chairman of the NCC for seven years. Keep up the good work! Best regards, Mel Lindauer

By: Credit Card Chaser

Credit Card Chaser — Fri, 30 Oct 2009 07:30:18 +0000

Also don’t forget the “Business Owner Millionaire” as a great way to get there