Ask HN: How did you make your first million dollars?

Re:Ask HN: How did you make your first million dollars? by sokoloff on Tuesday May 13, 2014 @08:12AM (#7737704)

I suspect that you know a lot more people with a million dollar net worth and just don't realize it.

A million dollar net worth is often externally indistinguishable from "suburban family just barely making ends meet". In fact, invisible millionaires are less likely to have a flashy new car in a huge McMansion garage than the "barely making it" crowd is, IME.

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Re:Ask HN: How did you make your first million dollars? by 4channer on Wednesday May 14, 2014 @04:40PM (#7746268)

I concur, but location is a massive factor in who looks like a millionaire and who doesn't. A single million in Cupertino gets you a house that's about 1500 square feet with a tiny yard, while just an hour south of Cupertino a million could get you a 4000 square feet house with several acres.

Usually visible millionaires are probably a lot richer though or just really bad at saving. The question is who's going to do well in the long run, and that's most likely the one that's always saving.

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Re:Ask HN: How did you make your first million dollars? by kyllo on Wednesday May 14, 2014 @11:49AM (#7744387)

Yes, the only difference is, those who have accumulated that million dollar net worth by retirement age (and oftentimes about half of this is home equity), actually get to retire. The rest have to keep working to pay the bills.

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Re:Ask HN: How did you make your first million dollars? by throwaway344 on Tuesday May 13, 2014 @11:33PM (#7742043)

This is in the Million Next Door, kind of theme. http://en.wikipedia.org/wiki/The_Millionaire_Next_Door

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Re:Ask HN: How did you make your first million dollars? by sokoloff on Wednesday May 14, 2014 @07:19AM (#7743104)

Thanks. I knew I'd read it ages ago, but couldn't place it.

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