About this site

Welcome to the $1,000,000 blog.

My name is Dan and I am going to raise my net worth from practically zero to one million dollars. This is where I write about how I make, save and invest my money.


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The Million Dollar Blog is no longer active. All posts about my attempt to make a million dollars will appear on my new website: dmossop.zeeblo.com. Please update your bookmarks. Thanks.
 

Why I want one million dollars

So just why do I want a million dollars?

I'd love to say that as soon as I get it I'll rush out and buy ferarris and yachts. But I won't. There is something I want more. My freedom.

At the moment I have to work to ensure I have enough money for food, etc. This work places a big commitment on my time. I, like most people, lose about 8 hours per day to work. During this time I'm not free to do as I please. And during this time I'm making money for other people and only managing to skim of a small fraction of the value I produce for myself. While I can put up with this kind of life, I don't want to.

My plan is to achieve financial independence. Basically I wish to own enough money to be able to live comfortably off the interest alone. I don't expect to make so much money that I can go out spending lavishly on whatever I want. But that's okay. I just want enough to be able to live, pursue my interests and do a reasonable amount of travelling.

So how much money do I need to have before I can achieve this. Taking into account inflation, I think one million will serve that goal if I earn it within the next 30 years. Anything after that and I'll probably need more. Even towards the end of those 30 years it will only be enough to just get by on, but I'll probably retire on it anyway. The sooner I earn it, the better the lifestyle I will have once I am free.

I'll discuss all of this in more detail later, but for now just know that I plan to take control over my life and getting a million dollars quickly is a big part of that plan.

Comments:
That's all I want too, enough money to be able to do what I want and when I want to do it. I don't care much for big cars or flash jewellery or much else in the way of possessions. I would like to live my life the way I want to. So I offer you the best of luck in achieving this shared dream.

Damien

The Burning Question

P.S. I found this site through BlogExplosion. Stop by the ShoutBox sometime soon and say Hi!
 
I want one billion dollars, because a billion is the new million. This is because of inflation of course. For example, with one million dollars and about 6% return on investment per year that is only about $60,000.00 per year. But with a billion dollars and %6 return that would be $60 million dollars per year. Now, I could live on that!

:-}
 
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