Budgeting to be Millionaire in Seven Years, Is it possbile?

I had blogged earlier about the personal finance tools available on internet. But after a long bout of finance management failure, I'm going to try and experiment by publicly doing my finances (of course some numbers are fuzzed but are close). I want to be able to get my net worth to a million dollars in seven years, is it possible?

With about $2000 of Cash flow every month what sort of rate of interest should i aim for ? So for this saving to become 1million i need a rate of return equivalent to 45%, as this calculation shows!!

So short question, can I achieve a consistent rate of of 45%? Is very unlikely! Which implies that i should increase by savings! This takes me to saving almost about 65K a year!!! Lets see!!

Next in this line of thought I want to see what my current rate of return is. I know its less than 1o%!! So point number one is something needs to be done about this poor investment strategy!

The bigger point and most import is budgeting! Is my money doing what i want to do? I'm I using money to buy things which will improve my quality of life? Or am i buying products or services which are improving my quality of life? Clearly i spend a lot on following items:

• Climbing gear - 2000$
• Camping gear - 1000$
• Cycling gear - 1000$
• Motorcycle - 1000$
• Eating out/ drinking - 3000$

However i dont spend enough on the following

• Travelling
• TV, Computer or other electronics
• New Car

So how should one divide the quadrants of quality of life so one can balance budgeting for better life versus being frugal to have more money to invest wisely!

Market Research!

I was wondering if there is more insight and suggestions wrt tools for Market Research.

I recall from the class the various tools one can use

• - Industry associations
• - Competitor websites
• - Public financial reports of competitors.

Particularly i wanted the ball mark data on quantities, customer segments and overhead cost which wine distributors reckon with. I couldn't get enough information from the industry associations or competitor's website and was wondering what else could i try. I need data to estimate the bulk and $$ required to sell wine to adistributor (typically the wine industries middle men).

Setting up a home office!

This weekend I was busy setting up a home office. The idea is to make use of my huge living room to share it as a office and living room. Just moving the book shelf from one side to next has given me a huge wall free. The next is to add a huge 8 ft by 4 ft white board on this wall! Eddie is helping me in this project. I have also added an exta desk in the room, i'm hoping to make the place comfortable for 4-5 folks to work. But Eddie's counterpoint is that we shoud buy nice desks and chairs so that we can make the place look cool!! Well lets see, where we go with this..