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Is millionaire status in my future?

As I listen to Dave Ramsey talk on his podcast, I often wonder if I would ever consider trying to become a millionaire. I mean, it would be pretty sweet to be a millionaire, but I'm not sure if I have the right smarts to invest or do anything that he suggests to do with Roth IRA’s, real estate, or the stock market. I understand a little bit about what he's talking about, but I'd be so afraid to mess up with the stock market or choosing the wrong real estate property, that I don't think it would be worth it.

 I read a book called The 30-minute millionaire by Jeff Cox and Peter Tanous and that did clear up some stuff about the stock market that I was a bit
confused about. There is so much chance in the stock market that I'd rather just put money into my 401k and have my company match that or set up a Roth-IRA. A Roth-IRA seems the less risky move because if I dumb it down for myself, it’s a fancy savings account that I can’t touch until I'm 60.
 Real-estate, to me, is too much of a gamble. Will I be able to sell the property for a profit? Is this a money pit? Will I find people willing to rent my property? So many questions that I'm sure I could learn over time, but in order for it to pay off, I feel like I would have to buy a lot of properties.

 I did do some digging on the “what ifs” when I get out of debt and pay off my house. And my net-worth will be about half-a-million dollars. So that's exciting, but net-worth doesn't really mean a lot to me. In my opinion, net worth is just a title. Just because I have a net worth of half-a-million dollars doesn't mean I actually have half a million dollars in my bank account, it just means I have assets that equal half a million dollars. I'd personally rather half-a-million dollars in my bank account, but beggars can't be choosers.

 My debt-free Journey only consist of me trying to get out of debt. That's my first step, if I become a millionaire after the fact, then that's just a lucky strike extra. What are your goals? Are you trying to become a millionaire or are you just trying to get out of the ditch you dug yourself into? Tweet me @DitchinDebt on twitter!

Comments

  1. Shelly October 26, 2019 at 5:17 AM

    Totally just trying to get out of the hole for me!! For now anyway, who knows what the future may bring x

    ReplyDelete

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