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In late 1978 when the company I was working for began offering a Savings and Investment Plan (401K), I sat down at my new home computer with a new type of program called a spreadsheet. Using this new tool I experimented with various what-if scenarios relating to how I should invest in the Savings & Investment Plan.
I determined that with fairly aggressive contributions and investing that the rewards could be way beyond what I had expected. I roughly estimated that with watching what we spend, good investment growth that we could possibly be able to early retire in about 20 to 25 years with a net worth around a million dollars. I sat down with my wife and we laid out the initial plan that we would follow. We both were already pretty good with watching the money so the plan we put down was just an extension of what we had already been doing for years. By planning, talking and working together on the plan made it a team effort. We knew the goal we had was very ambitious, but when we convinced ourselves by saying "I can be a millionaire" we knew we could make it. We also knew that it would take determination and a strong will to attain our goals.
When we stated in late 1978 we had been married less than two years and had a minus net worth (or in debt) of $32,000. To make things a little more difficult we had just gotten custody of my two children from my previous marriage. Over the years we stuck to our basic plan. Like all good plans, they need to be flexible. So our plan got modified, every couple of years, to meet our near term needs without taking from our ultimate goal. Examples of a modification was the purchase of a 31 foot sailboat in 1985 and a home on the water in 1986, proving that with good planning not everything has to be a sacrifice.
In Early 1998 our gross worth exceeded a million dollars with a net worth of $955,000. At this point we were at the finish line. I accepted an early retirement and began my own consulting firm. By the end of October 1999 we had made it, our net worth was $1,010,000. Proving that ordinary normal people making average incomes can by saving and watching how they spend money can attain their dreams to become wealthy and live very comfortably.
Now ten years later we are still doing well, our net worth has risen and fallen with the ups and downs of our economy, but we maintain around $1,000,000 in net worth after expenses. We still watch what we spend and save what we can. We currently have plans to move west and build a cabin in the Rocky Mountains. We want to share this information with anyone that wants to make a difference in their lives. This site does have expenses to keep it running and up-to-date. If you think the information was worth something to you, please use the links and search on this site in your search for wealth.
Regards,
Kent & Nancy
Just Start By Saying
"I Can Be A Millionaire"
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