Welcome to J’s Million Dollar Club! Ya gotta start somewhere…wanna figure out how to become a millionaire? If you’ve ever dreamed about becoming a millionaire – and you actually want to DO SOMETHING about it – you’re in the right place!
Can you imagine how killer it would be logging into your accounts one day and seeing a cool million there? I’ve been all about it the past couple years and there’s really nothing stopping me now. I’ve got the desire, the patience, and more importantly the game plan! (what this post is all about).
And I’d love for you to join! Check out my “millionaire to-do list” below and then create one for yourself. It doesn’t have to be much, just make sure it’s realistic so you’ll actually go through with it. Then review it every once in a while to remind yourself WHY you’re saving so much more than all all those crazies around you ;) After that, just keep Motivated! “The Automatic Millionaire” and “The Millionaire Next Door” are excellent books for this. All the plan really entails is time and habits. You master those and it’s easy breezy my friends! (besides, of course, finding the money to invest). But regardless, you have to start NOW.
In order for me, J. Money, to become a millionaire, I pledge to do the following (each year):
That would mean a total of
$22,500/year $16,500/year if I could pull that off! Using CNN-Money’s millionaire calculator with a conservative interest of 4%, I will see a cool $1 Million in approx. 11 years!
This means I will become a millionaire by the time I’m
We did it!!! As of August, 2019 we crossed into the millionaire range at the age of 39! :) Here are the juicy details –> Net Worth Report #139: $1,131,601.03
That $1 million might not actually be *worth* $1 million by then (and I can’t predict future returns), but to be honest that’s not what it’s about for me. All I want is the ABILITY to retire happily with no concerns about money at all. And I’m pretty damn sure being a millionaire would cover that ;)
[FYI: A cool, and free, place to track all your money is Personal Capital. You attach all your accounts similar to Mint, and it spits you out a nice “snapshot” of all your money/investments/etc. Plus your net worth! So you can track it every month vs. checking the calculator every few years ;)]
It has a ton of other cool features to help you grow your $$$ as well. You can grab your free account here.
Want to see where our net worth is right now? Click here.
***UPDATE #1*** 10/6/11 Since being laid off in January and now being self-employed (woohoo!) I have updated these numbers :) They’re not *as* sexy as before, but we’re still creeping up towards millionaire status as we go along! And with our new Mortgage Payoff Plan in works, I’ll need a LOT less than $1Mil to be happy now… not to mention how much MORE I’ll have left over in 10 years once I’m 100% debt-free!! WOO!! Gotta keep tweaking our plans as life goes on :)
***UPDATE #2*** 5/20/13 We’re back to hitting $1 Mil earlier again! Two+ years of being self-employed now and so far so good :) Here’s an update on this club we just posted about: We’ve got our first millionaire member! Hope the rest of you are hustling just as hard too!
***UPDATE #3*** 2/17/14 I’ve started a Net Worth Tracker over at my other site, RockstarFinance.com for anyone interested in seeing a bunch of bloggers’ net worths all on one page :) Helps to inspire AND show you that we’re all at different phases of our lives…
***UPDATE #4*** 2/18/15 While I’m still on the hunt to become a millionaire, I’m realizing more and more that it’s not about the money so much as it is about what money gets you: FREEDOM. Freedom from stress, from doing jobs you hate, and freedom from any other nonsense out there prohibiting you to live a life on your own terms. Having a million dollars in the bank may allow many of you to reach this, but after putting together an Early Retirement / Financial Freedom spreadsheet, it turns out I’ll need more than that now that I have a family of four and no longer a bachelor from 7 years ago writing this article :) I encourage you to download it and plug in your own numbers as well to see what you’d need!
Ready to join the club?
Get your own pledge jotted down, and then link back or leave a comment and I’ll add ya to the list! Here are the current soon-to-be millionaires:
- James @ DINK’s Finance [Now a millionaire!!! Breakdown here]
- Ginger @ Ginger Won’t Snap
- Erica @ Erica’s Funny Farm
- Brian @ My Next Buck –> Brian’s millionaire list
- Brad @ Enemy of Debt –> Brad’s millionaire list
- Paul @ Fiscal Geek
- Shawanda @ You Have More Than You Think
- Financial Samurai
- Brandi @ A Life Change: My Journey To Happiness
- Yellow Piggy Bank
- Michelle @ Penny and Nickel to Wealth –> Michelle’s millionaire list
- O1SP03 @ Five Girls Ditching Debt
- Megan @ Student Charade
- LuLu @ How I Save Money –> LuLu’s millionaire list
- Lisa @ Cents To Save
- Jayde Moss
- The Broke M.B.A.
- Ryan @ Planting Dollars –> Ryan’s millionaire list
- Roger @ The Amateur Financier –> Roger’s millionaire list
- The Financial Blogger –> Financial Blogger’s millionaire list
- Money Wise 24
- BudgetBabe @ Lean with Green –> BudgetBabe’s Millionaire List
- Sabrina @ Freedom 45 –> Sabrina’s Millionaire List
- Clayton @ Just Good Financial Advice
- Jeff Kosola @ Deliver Away Debt
- Money Handler @ Money Handler’s millionaire list
- If I Was a Wealthy Girl –> Monique’s millionaire list
- Money Reasons –> Money Reasons’ millionaire list
- Jane @ See Jane Get Rich
- Barbara Bryn Klare @ Upside of Money
- Meghan Fife @ Thoughts on the Real Life
- Ciawy @ Run, Work and Save
- Benjie @ Zordane
- AP @ Aspiration’s Purse
- FinEngr @ Engineer Your Finances –> FinEngr’s millionaire list
- Harvest Wages
- Matt @ Dividend Monk –> Dividend Monk’s millionaire list
- Budgeting In The Fun Stuff
- Anon Lawyer @ Thoughts of an Anonymous Lawyer [OUR 2nd MILLIONAIRE WHO’S MADE IT! Congrats!!]
- Saving Savy Pinky
- Utbytte –> Utbytte’s millionaire list
- Darren @ More Than Finances –> Darren’s millionaire list
- Meg @ World of Wealth
- MFO @ My Financial Objectives
- Jeffrey Mitchell
- Ashley Jacobs @ CashFlow Sherpas
- FrugalGuy @ Frugal Revolution
- Anthony @ Diversify Your Life
- Matt @ Better Me Self (awesome name!)
- MoneyMan @ Financial Odyssey
- Wendy P.
- Stu @ Pennywise2Pennyworth
- Ginger @ Frugal Students – Starting a New Life –> Ginger’s millionaire list
- Will @ Frugal Norwegian –> Will’s millionaire list
- Money Rabbit
- Chris Parsons @ Small Biz Big Dreams
- Divas With Cents
- Jack Crown @ Stock Dividend
- BigChrisB @ Debt Digger [The first one to a million! Congrats!!]
- Catherine @ Blugoo Girl
- Eric @ Post Grad Agenda –> Eric’s millionaire list
- Jamie J @ The Bottom Rung
- Jon @ Free Money Wisdom
- Rob. T. T.
- Jane Sanders @ Debt Management.net
- Dani @ OK, Dani –> Dani’s millionaire list
- Nitza @ Nitza’s Pizza –> Nitza’s millionaire list
- Brian @ Treasure Freedom
- Aspiring Millionaire @ Aspiring Millionaire.com –> Aspiring’s millionaire list
- Multi-Millionaire Before 30 –> Multi-Millionaire’s list
- Kelsey Horner @ Zero To One Million Challenge
- Kody @ Financial Money Tips –> Kody’s millionaire list
- Steve Ryan @ Smart Wealth
- Jeff @ My Multiple Streams –> Jeff’s millionaire list
- T. Thema Martin @ Savionaire
- John @ Frugal Gearhead
- Rich Uncle El @ Money Watch 101 –> Rich Uncle El’s millionaire list
- Long @ Budget For Wealth –> Long’s millionaire list
- Cameron Cohen
- Shondell @ Call Me What You Want, Even Cheap! –> Shondell’s millionaire list
- Busy Executive @ The Busy Executive Money Blog
- Alunda @ My Take on Money
- Victoria @ Lend Not Borrow
- Mikayla – (List below in comments)
- CrystalH @ Sophisticated Spender
- DC @ Young Adult Money –> DC’s millionaire list
- Oyinda – (Listed below in comments)
- MB @ 12 Year Career
- Mike Collins @ Wealthy Turtle
- Just Pay It Off –> JustPayItOff’s millionaire list
- DZ @ Debtzilla –> DZ’s millionaire list
- Lena @ What Mommy Does –> Lena’s millionaire list
- Jim [Another member who’s made it! CONGRATS, Millionaire!]
- Jeremy @ My Financial Road
- Abbie Stokes @ Finance Junkie
- Mario @ Debt Blag
- Free Money Minute
- Anton Ivanov @ Dreams Cash True
- Paul – (list is in comments below)
- Alex – (list is in comments below)
- Leona @ All My Dollars and Cents
- Anne – (list is in comments below)
- Christine @ ThePursuitofGreen –> Christine’s millionaire list
- EJ @ My Millionaire Status Dream
- Kim @ Eyes on The Dollar –> Kim’s millionaire list
- Mel @ Broke Girl Rich
- Izzye G
- Corinne Hoener
- S Dot [UPDATE: A new millionare as of 1/5/18 – congrats!!]
- Graham @ Money Stepper
- Kirby @ TheSimpleMoneyBlog
- Bobby @ Making Money Fast and Slow
- Jessi Mendoza
- Franklin B
- Lisa E. @ Lisa vs. The Loans
- Deacon Hayes @ Well Kept Wallet
- Mama Breeze @ Following Life’s Breeze
- Krista and John @ 2 Copper Coins
- MITM @ Naked Budgeting
- Shannon — Hit millionaire status on 8/10/16!!! Congrats!!
- Project Ikonz
- Zac @ Money Journal
- No Nonsense Landlord –> Going for $1 Million in *liquid* net worth!
- John C. @ Action Economics –> John’s millionaire list
- F2P @ Free To Pursue –> F2P’s millionaire list
- Cody Wheeler @ Academy Success –> Cody’s millionaire list
- Single Dad @ Single Dad Living
- Kim @ A Sister Livin’ Better
- Journey To Total Freedom
- Darlene (list is below in the comments)
- Teresa (list is below in the comments)
- Tim Seidler @ Get Niche Quick
- Elisha Buffet @ Warren Buffet Wannabe –> Elisha’s millionaire pledge
- Taylor Lee @ Engineer Cents
- Jeff @ Middle Class Success
- Happy Frugaler @ The Happy Frugaler –> Happy Frugaler’s millionaire pledge
- US (millionaire list below in comments)
- Kelly @ Money Millennial
- Fervent Finance –> Fervent Finance’s millionaire pledge
- MP @ Mustachian Post –> MP’s millionaire pledge
- M/M Kash – list is below in comments!
- Gene Roberts – list is below in comments! [UPDATE: Gene is now a millionaire!!]
- Joshua Whitaker
- Swetha (millionaire list below in comments)
- My Road to Wealth and Freedom –> millionaire pledge
- Aja McClanahan @ Principles of Increase
- The Captain @ The Pirates Life For Me –> The Captain’s millionaire pledge
- Gen Y Finance Guy –> Gen Y Finance Guy’s millionaire pledge
- The Money Mine –> Nick’s millionaire pledge
- Live Debt-free in NYC
- Future Beachbum
- Debt Free Fanatic
- Mario – list is below in comments!
- Beards and Money
- Fiprogress –> Fiprogress’ millionaire pledge
- Stacey – list is below in comments!
- The Finance Games
- The Green Swan (The first blogger who already *has* a million dollars but is going for MULTI-millionare status! ;))
- DauvO –> millionaire pledge
- Dave — pledge below in comments!
- Miss Mazuma –> millionaire pledge
- Dollar Engineer –> millionaire pledge
- Travel Travel & Retire! –> millionaire pledge (Just crossed the $500k mark!)
- Our Financial Path –> Xyz’s millionaire pledge
- The Millionaire Educator –> Ed hit a million dollars! Now working towards a trillion :)
- Solving Finance
- Her Every Cent Counts –> Joy’s millionaire pledge
- I Vigilante –> The Vigilante’s millionaire pledge
- *Honorary member* My Own Advisor –> Mark hit a million dollars and is now going for a $1 Mil real estate portfolio!
- Rick – Now a millionaire, congrats!
- Adventure Rich
- Smart Budget Life
- The Frugal Gene –> Lily He-Prudhomme’s millionaire pledge
- *Honorary member* Steveark –> Hit a million back in his forties 15 years ago, and has since added a few more
- Frugal Asian Finance –> Ms. FAF’s millionaire pledge
- Mr. Smart Money
- RPM – list is below in comments! (UPDATE: Now a millionaire!!)
- The Canny Contractor –> The Canny Contractor’s millionaire pledge
- 99to1percent’s $4 million pledge!
- The Frugal Onion –> The Frugal Onion’s millionaire pledge!
- The Graying Saver –> Brian’s millionaire pledge!
- Budget on a Stick
- The 40 Year Old Retirees
- Abandoned Cubicle –> Cubert’s millionaire pledge! (Towards the bottom)
- Devin from BetterWealthProject.com!
- Salary Optional –> Robbie’s *Financial Independence* pledge!
- Matt @ The Working At Home Man –> Matt’s millionaire pledge!
- Domenico Cervo @ FinanceShot –> Domenico’s millionaire pledge!
- Tony @ OneMillionJourney.com –> Tony’s millionaire pledge!
- Carrie S (List is in the comments)
- Virginia Ndirangu (List is in the comments)
- Financial Fred –> Fred’s millionaire pledge!
- Renea! Not a blogger, but a future millionaire regardless!
- Impersonal Finances –> I.F. Millionaire Pledge!
- *NEW* Ryan @ REI Lifestyle Blog –> Ryan’s Millionaire Pledge!
- *NEW* Morenji (Pledge list in the comments)
- *NEW* Greenbacks Magnet –> Already 1/4 way there!
- *NEW* Adam @ Real World Personal Finance –> Adam’s Millionaire Pledge!
- Do YOU want to be #216? Make the pledge and let me know! 🤑 💵 💰
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!