I want to give a great big congratulations to FrugalTrader who has been religiously updating his blog for the past 8 years to show the world that a middle class person with very normal debt can do in a short 8 years. Here are some of his stats:
Student debt: $45,000
Auto debt: $24,000
Mortgage debt: $178,000
At the time that he started he was 27 I believe and his goal was to have a net worth of one million by the time he was 35. He beat his goal by 6 months with starting out of a net worth of $200,000 8 years ago. So essentially his wife and he increased their net worth by $100,000 each year. Did they win the lottery? They must be one of those doctor lawyer power couples with no kids? Wrong and wrong. They made good money, but it would be considered middle class below six figure incomes. Average engineer type salaries, but in Canada. Oh and they also had child during this journey.
I highly encourage you to go back to December 2006 and to see how it all started and then to click through to each month to see what they did to accomplish this goal. I'd like to reiterate that a middle class couple with a child became millionaires before 35 and they did it with nothing but old fashioned saving and investing. The most extraordinary thing about it was that there was nothing extraordinary.