Hey - don't discourage him...
Silverbytes - you're welcome to buy my site for 50x annual income, any time you want - just let me know.
Ok - being serious: Think like a buyer for a minute - would you actually be prepared to pay 50x annual income?
If you do nothing to the site, you will be 50 years older than you are now, before you break even - and you could have been earning interest if you'd put the money in the bank. So it'll probably take you 60 or 70 years to break even with putting the money in the bank.
Most small sites are worth about a year's profit, give or take. Some more established ones with decent content and a good track record might be worth 3 - 5 years profit.
Large, long-established, high-traffic, market-leading sites with a good track record, and multiple sources of income can be worth 10 - 15x profit, maybe more - but even the best sites rarely get beyond 20x, ever.
I think Google is worth 50x or more at the moment - but that's the sort of business you need to build if you want that sort of multiple.
The only other way to get 50x that I can think of, is to have a really nice site that you just haven't bothered monetising. If it only makes a few $ a year, someone might give you 50x, because they could make thousands just by sticking some ads on it...