Your First Million - Inspirational Stories

[chinmord]

Entrepreneurship is an almost sure way to make 1 million for someone who is hardworking, creative, daring, has good business sense, and ideally knows the right people. Unfortunately not everyone has these traits. And for those experts who say earning money is so easy (you know, those motivational gurus who say something like, don't adjust your lifestyle to your income - instead figure out a way to increase your income so that you're living the lifestyle you want) ... its like saying its our own fault that we're not making money. Fricking platitude.

 

The stock market is a crapshoot. For everyone who made a million here, there are lots more who lost money. Especially in the local stock market where market capitalization is so low that well connected and well funded parties can manipulate certain stocks to a certain degree.

 

I made my first million in savings the "traditional" way working with large corporations. And yes, I started in 1997 with a starting salary of P8,500 per month ... small even by the standards of the day. I spent approximately P100,000 that year on living expenses which meant my savings from that salary were ZERO and I probably had some debts on my credit card ... hehehe.

 

But the thing is, even though my salary kept on increasing as I moved up the corporate ladder ... my living expenses increased at a much slower rate. If I used to be happy eating a P250 buffet once a month to reward myself, I didn't suddenly develop the urge to have that buffet on a daily basis. I didn't have the sudden need to buy designer clothes since I had gotten used to wearing my good quality generic stuff. I got drunk on Tanduay Rum and San Miguel Beer - I didn't have to drink Black Label every night simply because I could. The car I used in college (given by my parents granted) I continued to use well after I could afford to buy a new one. And so on.

 

After around 6 years of steady career advancement (I had changed jobs twice in that span of time) I had that first P1M clear in various financial instruments even though my Net Income after tax was still less a little less than P1M. All savings - I didn't do web PTC's, I didn't do stocks, I didn't buy a franchise, I didn't do multi-level marketing. I'm sure I could've earned more if I had worked harder outside the office, but hey, I'm a lazy bum and wanted to enjoy my non-office time. I just posted this to show that you can still earn that million the old fashioned way working a 9 to 6 job. And though I still lived at my parents' house at that time, I had been contributing around P20K a month to household expenses so I think it evened out when compared with someone who had to live independently.

 

Conspicuous consumption is BAD. Just because you're earning a certain amount doesn't mean you need to spend it all. As everyone else is saying, get into the habit of saving. Even with interest rates low, its better than blowing it on luxuries and good times. That brand new Fortuner, Rolex watch, or iPhone 3G that you just bought depreciated by 20% just by bringing it out of the showroom. And your nights out in Pegasus ... sure the memories may be priceless, but that doesn't fill your bank account. Sadly.

 

 

Pare, i like how you lived at simplicity. we must postpone self-gratification. As for me, Im trying to save at least 30% of my income as savings! Cheers!

[keith7551j]

i earn my 1st million at stock market, then return all of it with interest. hahaha

[mykgo2000]

Looking forward to earn my first 10M in the next few years. Thru Investments

[rooster69ph]

i was in my mid 20's then and had my 1st million thru a combination of personaly savings and investment income via both fixed income and equiy investments.

[knoll1234]

we were dirt poor not too long ago. we could not afford even the pamasahe to school,we eat scantily clad fish and vegetables, we could not even watch TV, walang TV, walang bahay,kami lahat 6 of us in one room that doubled as our dining, living, bedroom kitchen and dining room maliit lang talaga. THE ENORMOUS DRIVE TO SUCCEED WAS WITHIN US. LOLO was an attorney, but because of his religious beliefs he'd rather be poor than lie. grandma was a teacher, barely making it. My dad pushed hard to graduate college on his own, no financial help from his parents who could not even afford to put shoes on their feet. My mom did not work...But by gosh the older folks instilled in us the value of GOOD EDUCATION , not just education. everybody can graduate yet not be successful. If you graduate,' lolo once said., damn be the cream of the crop'....so the rest is history. Over the years alone I personally have given over 2M pesos in financial help to my parents not because they need money, but I want them to enjoy life. an auntie who is a super millionaire in the US dollar currency, though have helped me sustain the growth of my finances. we have 3 good houses in manila and a condo, and several in 2 continents. what a difference when you use your brain to do things like these. We got some small business, careers and cars, cars, cars. vacations here and there anywhere in the world anytime when planned. the younger generation now in better schools, HTC phones, iphones ipods, they are spoiled, so what, we don't want them to suffer like we did. NOW I AM SOLVED FOR LIFE so are my kids whoever they may be,,,suwerte sila di na sila maghihirap MY SMALL ADVICE IS THIS...DREAM BIG, BUT SUPPORT THAT WITH SOMETHING, LIKE YOUR BRAIN, BE STREET SMART TO COMPETE WITH EVERYBODY ELSE, MARKET YOURSELF AS LARGER THAN LIFE, THEY'LL BRING YOU DOWN ANYWAY, AND FINALLY....BREAKS, BREAKS, AND LUCKY BREAKS........WHEN YOU SEE THEM GRAB THEM CAUSE THEY MIGHT NOT COME BACK AGAIN. ONE FAMILY MEMBER DONATED 1.54m PESOS TO CHARITY.....ME PERSONALLY I LOST GAMBLING ABOUT 2.2m PESOS last year alone...HEHEHE, remember dati WALANG WALA.

[rooster69ph]

@ Knoll1234

 

So how did good education eventually help you to earn your 1st million which is the topic of this thread??? I mean education alone won't ensure you will be a millionaire without what you've learned in a money making activity. How did your aunt help you sustain your finances as you claimed?

[starskynijuan]

still in the rat race, but not complaining...still working on the engines, suspension set-up & stuff...but I'll get that checkered flag

[Malisyoso1980]

I earned my first million through foreign exhchange... I exchange Php5K for 1M Indonesian Rupiah...

 

( If only humor could create money )

[guapolo]

pinaka mahirap lang makua yung first million, pero after that medyo addicting to earn more.. and more.. baste be prepared for every opportunity na pwede mong pagkakitaan meron at meron yan.. mahirap lang sa simula pero once yuo have learned yun basic mechanics of learning, planning(x100- para segurista)and preparing mukukuha mo rin yung style and dont be afraid of failing.. kung ma lugi ka man, learn from it and you still end up winning.. sa start sobrang takot ko invest yung hard earned money ko so inipon ko lang ng inipon.. hangang dumami at nagkalakas ng loob mag negosyo ng konti together with 2 jobs.. you could also try going to another country or middle east maraming opportunity hanapin mo lang talaga...

[West Tres]

Got my first million at 23 years old. I may not be the smartest guy in school, but putting my heart and soul into my business paved the way to success.

[csdeathtrap]

guys any tips na pwede mabigay saken to earn my 1st million?

 

Sa sitwasyon ko kasi medyo mahirap

Kasi my annual gross is only 360k

Kagadahan lang sa employer ko annually meron 5% increase sa sweldo.

 

Most of it napupunta lang sa house amortization and pag kain.

Minsan i try my luck on lotto na nga.

 

Pero always possitive ang thinking ko na someday i will get that million.

[BLACK&WHITE]

Got first 2M at age of 18, nagstart ako mgbusiness at age of 17, but yung capital is around 1M, from my parents.

Lucky nadin, na may parent na may capital na ipinahiram at nagtiwala saakin

[Guns of the Patriots]

8 years ago.....ang hirap talaga mag-ipon pag empleyado ka lang.

 

......and to think ano ngayon ang halaga ng 1 million pesos this year compared to the previous years. Ang saklap....

[francesdeniel]

Inspiring indeed! Thank you guys :-) Someday I will tell my story too. It's not too late.

[Guest OzChick]

Well it's unfair to compare myself I guess because I live overseas, and my expenses are higher than most people din.

 

My first million pesos was when I was 18 because I had a small online business wherein I was getting 12,000 pesos a week and I saved all that until I was 20 years old then I blew it all on traveling!

I'm 26 now and have an income of 300k pesos a month, I'm very fortunate