In this article from CNN Money, Marc and Elesya cite MONEY Magazine (CNN Money’s offline counterpart) with helping them determine their strategies for building their net worth.
You know, it would be great to see some stories about poor schlubs like me just trying to get by in a mediocre-paying job renting an apartment by myself in an expensive area so I can start feeling like I’m not the only one.
One thing I noticed about these “Millionaires in the Making” stories they run on CNN Money is that the articles are almost always about a couple working at building wealth together rather than an individual.
Side note: I like this “disclaimer” underneath their net worth detail: “Note: Their outstanding mortgage principal is excluded.” Then it’s not really their net worth, is it?
Subscribe
2:36 pm (reply)
I like that idea. I would certaintly like to know how other single ppl are managing their sub 30k salaries. Could be titled: “100 thousand in the making”
3:39 pm (reply)
You’re not the only one. I’m not sure what qualifies as “mediocre-paying”, but I feel pretty much the same way. I’m tired of these “Millionaire in the Making” stories being all about couples with a huge amount of their net worth tied up in their McMansion. I’m not sure I’ll ever own a home, and I think I’ll do just fine. There must be other people in the same boat, especially those who live in areas where property values are outrageous.
Thanks for the link, by the way.
6:35 pm (reply)
I was thinking of writing into Money/CNN to see if they would write about me. My wife is a recent graduate and I am in grad school and we can save $1000/month. Our net worth is not as impressive as some of these people profiled, but we make a lot less than $100,000 and are just starting out. They need to profile more regular people so people would quit complaining about how impossible it is to get ahead.
9:15 pm (reply)
KP, you should write in.
9:33 pm (reply)
Flexo,
Take pride in the fact that you have a lot going for you, irrespective of how much you bring home.
You have seen the light in terms of net worth, budgeting, saving, etc.
Patience is key. In 3-5 years, you will see the fruits of your labor.
Consider yourself part of the select few that have eschewed the ‘I want it now and I’ll pay with my credit card’ crowd.
It will pay off.
1:45 am (reply)
I’ll voice the same opinions here, and only add that if they’re relying on a magazine like MONEY to guide their strategies, they’ll sooner or later find themselves parted with nice chunk of their net worth.
11:18 pm (reply)
They probably write about couples because they are both working.
Single people can become millionaires too. All it takes is living below your means and investing prudently. It may take a while but it can be done.