Joining The Millionaire Club And Not Looking Back

When I turned 28, I became a millionaire. But I didn't realize I was a millionaire until 30. It was only at 30 did I start diligently tracking my net worth. This post was originally written on September 27, 2009. I'm revisiting it 12 years later! Joining a millionaire club is a good idea.

The Millionaire Club

After putting up my $1 million dollar “Freedom Fund” tracker this past June, I've had a number of inquiries regarding what it's all about.

By starting completely over in my Freedom Fund this past summer, I will be as honest about my finances as possible.  

If you've read my earlier recommended net with asset allocation post, you'll know that I believe people should have a Cash Goal, rather than a Net Worth goal. Very simply, we have a better chance of counting on Cash during retirement, than on all the other stuff.

I was surfing the PF network and stumbled across J. Money's site, “Budgets Are Sexy.” He started “The Million Dollar Club” for all those who simply wish to be millionaires. 

There isn't any red velvet rope to get in and I don't want to be alone in my journey towards gathering $1 million cash, so I'm joining!  It's all about community and I'm looking forward to J and my fellow members stopping by with their support.

Here is my pre-requisite Millionaire To-Do List:

To join the millionaire club, here's what to do.

1) I will never dip into savings to buy anything superfluous (shoes, electronics, toys, games, cars, etc).  Cash flow is the only source of my spending.

2) I will not use my credit card if I cannot pay it off every month.

3) I will save and invest my yearly bonus and only live off 85% of my base salary.

4) I will take advantage of all tax efficient retirement plans. At the very least, I will max out my 401K every year knowing that it cannot be counted on.

5) I will pay off my rental property within 8 years and buy another rental property in a no state income tax state within 24 months. I will also buy more rental properties given interest rates have plummeted during the global pandemic. The value of real estate has gone way up as a result.

6) I will find at least 5 sources of alternative investment income, including: interest income, stock dividends, online income, private equity returns, and rental income.

7) I will never let money control my life.  Instead, money will be my own personal servant named Alfred when I choose to retire.

8) I will take care of my wife and never let her financially suffer.

9) I will always value time over money and never be a penny wise and a pound foolish.

10) I will continue to find new ways to financially help others who need help.

Becoming A Deca-Millionaire

Going a day without spending money on things may be akin to going a day without drinking for a recovering alcoholic.  I spend too much money on crap to the detriment of my retirement, and I admit it. 

By joining the club, I'm more confident than ever we'll be able to succeed in our dreams of becoming financially independent sooner, rather than later.

What's really interesting is that in 2021, I am now a deca-millionaire ($10+ million net worth). I diligently saved 50% – 75% of my after-tax income every month and invested 80%+ of it into stocks and real estate.

Today, my favorite investment is rental properties and real estate crowdfunding. Real estate is my favorite asset class to build wealth. Join a millionaire club and learn from others!

Related Posts:

The First Million Is The Easiest: How To Become A Millionaire By 30

The Average Net Worth For The Above Average Person

Target Net Worth Amounts By Age, Income, And Work Experience



19 thoughts on “Joining The Millionaire Club And Not Looking Back”

  1. Oh my I just discovered this post through J’s blog. I can’t believe it was written back in 2009. It’s been 8 years!

    I second Lily that #8 is really sweet. I want to be adventurous with my future businesses one day (i.e. real estate, blogging, etc.), but I would love to have Mr. FAF catch me if I fail! Even if he doesn’t, I think I’d still want to explore to know what I’m good at. :D

  2. Omg this is a freaking time capsule! I need to sign up too. #8 is so sweet, awh. I wanna make my husband take that pledge :p

    It’s crazy how far Sam and J has come! “Nana nana leader, leader, batman! I mean, leader!” (sorry…binge watching old Simpsons)

    1. Just read this post again from September, 2009 thanks to your comment. Crazy how things progress over time if we just stick to things!

      This post was written when I first started blogging and during the depths of the financial crisis. Thank goodness for grit and perseverance!



  3. Benjie @ Zordane

    This is really cool stuff, I’ll start my list and join this club.
    .-= Benjie @ Zordane´s last blog ..All For One – One For All =-.

  4. Really? Not use your savings for a car? Seems counterintuitive to use cashflow for a car, assuming by that you mean you’ll be making auto loan payments. No???
    .-= thriftygal´s last blog ..5 Obstacles To Financial Success =-.

  5. Cool beans, FS; it looks like you have a pretty solid plan, and I wish you all the best of luck in reaching your million dollar goal. Hopefully, I’ll be there to chill with you in Millionaire acres soon.

  6. Well thanks for the shout up….I saw the Million Dollar Club post a while back…but your post inspired me to write my list up. Hee hee.

    1. Awesome Lulu! I’m glad my post was a little inspirational. Your site is inspirational to me! You are absolutely rocking the ranking charts, so hopefully FS will be up there with you some day soon. Best, FS

  7. I was always wondering what that logo was, and now I know! It’s cool how you have a list of pretty solid pre-reqs. and guiding principles. If anyone is going to make it, you will.

    1. Hey David – Thanks man. My biggest wish is that we can all make it together! It’s so easy to cheat on ourselves if our principles are hidden. I’m a recovering spendaholic, and every time I have an urge to splurge, I’ll remember my publicly announced promise. Besides, it’s more fun being part of a greater community of writers with like-minded goals. Best, FS

  8. Yessir, that’s what I’m talking about! I’ll add you as a “member” asap my friend :) One day we’ll all be at the beach enjoying our money work for us!

  9. Sounds like a cool club! Joining a group with a similar goal always helps. The support network is very important.

    I’ve always wondered about the “Freedom Fund”, so thanks for sharing some more of your thoughts and details. That’s pretty cool. That musta been a very expensive watch you sold!

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