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Your First Million - Inspirational Stories


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Thank you also Eagleyes. I have a little less than 3 years left if I retire on the 20th year which will entitle me to a puny pension.  Maybe I am a little late to be preparing for a second career because I have not decided yet what career I am going to get into after 17 years in the Navy. Any Advice Bro? What would be the best field to get into? I don't really need much but to make million would be great. Does it take a college education( I am still working on my Associates Degree)? I work with logistics and not much into IT. I appreciate the word of wisdom Eagleyes. I hope all is going well with you, your business and your family. Thanks you.

 

that puny pension is enough to live on in relative comfort if you decide to retire in the philippines :)

 

you're in logistics? first thing to do is go to your education office. have them evaluate the training you've received from the navy. go for a resorce management degree. you'll be surprised that you don't need much more classes to get an associate degree. tuition should not be a problem should you need to go to more classes to complete it; you should also be able to get some kind of tuition assistance.

 

your second career will be up to you. one thing to look at is a career that deals with insurance claims processing. there are technical schools that offer certification programs. you also have the option of working for contractors that run the logistics operations on military installations; or stay in gov't in civil service. it should be easy enough to get a GS9 or GS11 position to start with. if you don't want a lot of responsibilities, the post office is always another option.

 

keep in mind that preparation is the key! good luck :)

Edited by eagleyes
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skicker , maganda pa rin ba dyan sa yokosuka? i went for a visit there in japan and stayed in sanban(1st visit) and himawari heights (2nd visit)before. i visited my uncle when he was still in the navy, but his ship now is decomissioned and is a museum already here in SD. his ship btw is USS MIDWAY

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  • 2 weeks later...
skicker , maganda pa rin ba dyan sa yokosuka? i went for a visit there in japan and stayed in sanban(1st visit) and himawari heights (2nd visit)before. i visited my uncle when he was still in the navy, but his ship now is decomissioned and is a museum already here in SD. his ship btw is USS MIDWAY

 

 

 

Bro..di ko na inabot ang USS Midway..oo nasa Museum na ba? Maganda pa rin dito sa Yokosuka, safe and clean. marami ng bagong housing. I hope to retire and start a new career. Ano ba ang maganda bro to accelerate ang goal. Thanks to Eagleyes sa advice. I envy you.

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pesos :) after all.. we're in a filipino website :)

 

Thanks for clearing that up NZchick.

 

Come to think of it, my first million pesos I made would have been way back in the early 90's when I was young, got a high paying job as a systems analyst/programmer, had no responsibilities (debts), lived with my parents and saved around 3/4 of my net salary.

 

All the best to your business NZchick. At the rate you are going you will be one of those multi-millionaires out there.

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  • 2 weeks later...

in my line of work (costruction business), it's easy to earn millions but it is also as easy in losing one. anyway, i was entrusted with my father's business way back 2003 and i was a stubborn, know-it-all 22yr. old. at first, my father was there to guide me when talking to people and looking for projects. but before the 3rd quarter of the year begins, he started letting me go and in my first project, i earned 1.3M net and it got me excited and a little cocky that i forgot the little things that would make this business successful. so, to cut the long story short, by the end of the year i was -750k and i wasn't able to make a dent on the company's 10M++ loan and which our house was use as collateral.

 

anyway, fast forward to 2005, slowly i was able to adjust to the fast lifestyle of making huge amounts of money. as of now, i have a two dev't projects in cavite worth 45M which should be finished by the end of the year and am currently on target with my estimate of having a profit between 20-25%. as for the loan, my last payment would be on march 2006. plus i have other projects in rizal and qc. i have another prospect in cavite worth 65M.

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  • 1 month later...

I've earned my fortune in many wicked ways like protection racket, gambling, underground currency exchange, entertainment and a lot more. I earned my first million pointing a gun at one of my former associates (may he rest in peace)who tried to run way with my cut. Im now trying to go completely legit and thus have ventured into quite a number of legitimate businesses. I still go for the highest possible returns in the shortest possible time types of businesses though.

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Hi you’re asking about business, well I’m a middle aged white guy who lives in the U.S.A.

 

every few years I travel to different countries including the Philippines,

if I’m lucky enough to meet some one in a verity of ways,

introduction from a friend, for example, if I see some thing that I can recognize as a possibility.

 

 

Then I form a partnership, these work out in different ways, some have been slow steady producers, other take off like a rocket and quickly burn out.

 

Some I’ve had to bail out of the red repeatedly, like push starting a car in the hopes that it will run long enough to get you were you want to go,

 

my past ventures included restaurants and office supply, lack of management and internal corruption are two of my main nemeses.

 

Since I’m half a world a way I have to rely on the integrity of whom I’m involved with, I’m looking for some thing completely different now.

 

Generally I’m willing to speak of what I have done, this was quickly written the time constraints may affect coherency.

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what 's the name of your site? I was wondering how you were able to get paid on your online business. I used to have an website but unfortunately , accepting credit cards from customers bacame my number 1 problem.

 

you'll need a payment gateway and a merchant account. If you expect very big volume of transactions, you'll need a clearing house partner. This is if you are really seriouse in putting up your own E-Com website. Now if you wanna do it the way your NZ friend did it ... you may wanna try e-bay first.

 

Here's something for you to think about however, an e-com site can only become successfull if you've figured out your delivery model. In NZ's case, her market is newzealand, she orders her stuff from somewhere and sells it there in NZ. Now if she wants to sell someplace else apart from Newzealnd, she'll have problems... unless she figured this out already.

 

In your case however, who's your market? dito sa Pilipinas? If i buy something from you, how will you deliver it? These are some questions you need to think about before setting up an ecom site... so whatever your plans are it should be operationally feasible.

 

good luck sa efforts mo, wish u well.

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1 Million pesos is not a very big amount of money.

 

I earned that easily with my local salary..

 

 

When Henry Sy mentioned that the only difficult part is the 1st 1 Million then he might have said that 5 years ago..

 

now 1 million is not a big amount of money..

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It's not impt if Mr. Sy. said it 5 yrs ago, 20 yrs or yesterday. A million bucks in pesos is still a big amount of money for most Filipinos. If you can earn it and "keep" it in a day... good. legally? better..without working for someone? best.

 

I created this thread not as a bragging post for how much you earn or to comment how paltry a sum a million pesos is. This was created to inspire people who despite slaving for years, and earning millions in gross salaries, ...are still showing flat or zero, or worse..negative.. in their net worth,

..this is not for those who inherited millions or business from their parents.

.. this is not for those who earn in dollars .

..

 

this is a thread for self-made millionaires who despite hardships and challenges in surviving in the Philippines' environment of political instability and economic woes ...have made it on their own..

 

thanks..

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It's not impt if Mr. Sy. said it 5 yrs ago, 20 yrs or yesterday. A million bucks in pesos is still a big amount of money for most Filipinos. If you can earn it and "keep" it in a day... good.  legally? better..without working for someone? best.

 

I created this thread not as a bragging post for how much you earn or to comment how paltry a sum a million pesos is. This was created to inspire people who despite slaving for years, and earning millions in gross salaries, ...are still showing flat or zero, or worse..negative.. in their net worth,

..this is not for those who inherited millions or business from their parents.

.. this is not for those who earn in dollars .

..

 

this is a thread for self-made millionaires who despite hardships and challenges in surviving in the Philippines' environment of political instability and economic woes ...have made it on their own..

 

thanks..

 

 

Absolutely agree!

 

To those who are still on their way to the 1M mark, keep going!

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I made my first million in 1993. have to open my own auto parts store by myself, do everthing by myself. mahirap may kasosyo, for sure may maiinggit or magrereklamo or madedehado.

 

kahit maliit lang basta sarili mo you can decide everything and deserve whatever is the outcome

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i really think that 1 million this days is not a big amount of money.. when Henry Sy mentioned that "the only hard part is the 1st 1 million".. he mentioned that when he 1st open his 1st SM in avenida in 1983.. so you see.. that was 1983..

 

in 1983, 1 million pesos is a big amount of money... if you consider the average cost of inflation pegged at 7% per annum.. 1 million pesos that time will now be equivalent to.. 4.1 million pesos.. ..

 

so i guess the thread title of first million is wrong as 1 million does not make anything out of you.. .. 1 million today is only worth around 200k during the time when Henry Sy mentioned "the only difficult part is the first million" ..

 

the correct title of this thread should be "first 4 million pesos".. as what I have said.. considering the depreciation of peso with the rising cost of inflation at 7% .. 1 million peso is not a big sum of money to fuel you.. hell ya.. you cannot even buy a decent house for your family with 1 million pesos.. so its no big deal..

 

if you have less than 1 million pesos in the bank..then you are basically in trouble.. but having a million peso in the bank is not too uncommon..

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Read this note before you post anything . I dont care if you think 1 million pesos is a paltry sum, i dont care if you think 1 M is just worth 200 k today. this thread is for how you made your 1st million" . Is'nt the title clear enough for you people? .. you can create you own thread of how you made you first 4 million or first 100 million if you wish.

 

:

 

 

" It's not impt if Mr. Sy. said it 5 yrs ago, 20 yrs or yesterday. A million bucks in pesos is still a big amount of money for most Filipinos. If you can earn it and "keep" it in a day... good. legally? better..without working for someone? best.

 

I created this thread not as a bragging post for how much you earn or to comment how paltry a sum a million pesos is. This was created to inspire people who despite slaving for years, and earning millions in gross salaries, ...are still showing flat or zero, or worse..negative.. in their net worth,

..this is not for those who inherited millions or business from their parents.

.. this is not for those who earn in dollars .

..

 

this is a thread for self-made millionaires who despite hardships and challenges in surviving in the Philippines' environment of political instability and economic woes ...have made it on their own..

 

thanks.. "

 

 

 

 

 

 

 

 

 

 

 

 

i really think that 1 million this days is not a big amount of money.. when Henry Sy mentioned that "the only hard part is the 1st 1 million".. he mentioned that when he 1st open his 1st SM in avenida in 1983.. so you see.. that was 1983..

 

in 1983, 1 million pesos is a big amount of money... if you consider the average cost of inflation pegged at 7% per annum.. 1 million pesos that time will now be equivalent to.. 4.1 million pesos.. ..

 

so i guess the thread title of first million is wrong as 1 million does not make anything out of you.. .. 1 million today is only worth around 200k during the time when Henry Sy mentioned "the only difficult part is the first million"  ..

 

the correct title of this thread should be "first 4 million pesos".. as what I have said.. considering the depreciation of peso with the rising cost of inflation at 7% .. 1 million peso is not a big sum of money to fuel you..  hell ya.. you cannot even buy a decent house for your family with 1 million pesos.. so its no big deal..

 

if you have less than 1 million pesos in the bank..then you are basically in trouble.. but having a million peso in the bank is not too uncommon..

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Read this note before you post anything .  I dont care if you think 1 million pesos is a paltry sum, i dont care if you think 1 M is just worth 200 k today. this thread is for how you made your 1st million" . Is'nt the title clear enough for you people? .. you can create you own thread of how you made you first 4 million or first 100 million if you wish.

 

:

" It's not impt if Mr. Sy. said it 5 yrs ago, 20 yrs or yesterday. A million bucks in pesos is still a big amount of money for most Filipinos. If you can earn it and "keep" it in a day... good. legally? better..without working for someone? best.

 

I created this thread not as a bragging post for how much you earn or to comment how paltry a sum a million pesos is. This was created to inspire people who despite slaving for years, and earning millions in gross salaries, ...are still showing flat or zero, or worse..negative.. in their net worth,

..this is not for those who inherited millions or business from their parents.

.. this is not for those who earn in dollars .

..

 

this is a thread for self-made millionaires who despite hardships and challenges in surviving in the Philippines' environment of political instability and economic woes ...have made it on their own..

 

thanks.. "

 

 

basically you cannot call them self-made "millionaires".. the term "millionaire" does not actually refer to a Filipino having a house worth 1 million pesos isn't it? otherwise, a lot of Filipinos will be "millionaires".. you have 1 million peso house and what does that make you? a lower-middle class Filipino citizen..

 

it could be applicable 20 years ago when 26 pesos trades to 1 dollar.. but with the depreciation of the peso.. coupled with inflation.. nope..having 1 million pesos asset or net worth does not mean that person should be called "millionaire".

 

i mean, we don't expect this same question to prop up in future conversations, like 10 years from now.. tieing yourself to 1 million pesos now and 10 yrs from now will be hilarious..

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Do you really understand what this thread is all about?

 

Creating your first million on your own. ... not million based on the value of home/land which are illiquid assets .. i dont care if you value the "present" million as less than a million compared to 20 yrs ago...As long you made a made your first million ..you are free to post here to inspire other people.

 

If your point is to show us that you are multimillionaire now, and you consider the current "one million" as too small for your taste.... you have already made your point... a person with a million pesos in his pocket now is a millionaire. (in pesos that is).. .... why don't you just tell your story on how you made yours instead of posting comments that are not significant to this thread.

 

 

basically you cannot call them self-made "millionaires".. the term "millionaire" does not actually refer to a Filipino having a house worth 1 million pesos isn't it?  otherwise, a lot of Filipinos will be "millionaires".. you have 1 million peso house and what does that make you? a lower-middle class Filipino citizen..

 

it could be applicable 20 years ago when 26 pesos trades to 1 dollar.. but with the depreciation of the peso.. coupled with inflation.. nope..having 1 million pesos asset or net worth does not mean that person should be called "millionaire".

 

i mean, we don't expect this same question to prop up in future conversations, like 10 years from now.. tieing yourself to 1 million pesos now and 10 yrs from now will be hilarious..

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Do you really understand what this thread is all about?

 

Creating your first million on your own. ... not million based on the value of home/land which are illiquid assets .. i dont care if you value the "present" million as less than a million compared to 20 yrs ago...As long you made a made your first million ..you are free to post here to inspire other people.

 

If your point is to show us that you are multimillionaire now, and you consider the current "one million" as too small for your taste.... you have already made your point... a person with a million pesos in his pocket now is a millionaire. (in pesos that is).. .... why don't you just tell your story on how you made yours instead of posting comments that are not significant to this thread.

 

how do you define "make it on your own".. does it mean everything comes from your salary? business? investment? well net worth is net worth, and a house or real estate counts as an investment..assuming that the real-estate property that you bought for 300k pesos 10 years ago appreciates for it to be valued now at 1 million, then that becomes your 1st million..

 

just the same, if a stock you bought 5 years ago for 100k appreciates to become 1 million this year.. then that becomes your 1st million..

 

even then.. a 1 million lot or house today is not worth that much.. try to buy a 1 million house these days and what do you get? you will be considered as lower middle class.. middle class houses are valued in the 2 to 3 million peso range..

 

so basically.. even if you have 1 million pesos liquid cash.. you will probably be living with your parents, or renting, because you don't have your own house.. not owning your own home and being called a millionaire is just funny.. :lol:

 

 

so basically, dont tie yourself up with 1 million pesos.. because it is not a big amount of money.. this same conversation has been there 10 years ago.. but for this same topic to still exist these days is just hilarious.. we probably won't expect this to be existent 10 years from now.. where 1 million pesos won't enable you to even buy a 2nd hand taxi cab..

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