!!> Reading ➶ The Millionaire Next Door: The Surprising Secrets of America's Wealthy ➮ Author Thomas J. Stanley – Tkcleaningservices.co.uk

The Millionaire Next Door: The Surprising Secrets of America's Wealthy The Incredible National Bestseller That Is Changing People S Lives And Increasing Their Net Worth CAN YOU SPOT THE MILLIONAIRE NEXT DOOR Who Are The Rich In This Country What Do They Do Where Do They Shop What Do They Drive How Do They Invest Where Did Their Ancestors Come From How Did They Get Rich Can I Ever Become One Of Them Get The Answers In The Millionaire Next Door , The Never Before Told Story About Wealth In America You Ll Be Surprised At What You Find Out I very much enjoyed listening to this audio book It was very interesting, easy to understand and not boring at all.The bottom line is Millionaires and those wanting to become Millionaires live well below their means People wanting to look rich will never accumulate any wealth since they are busy paying off debts This book talks mainly about self employed people but everyone with a decent household income livi I learned that there are seven characteristics or common denominators among millionaires in America They are 1.They live well below their means They are frugal,frugal, frugal They make than they can spend Pretty cool 2.They allocate their time, energy, and money efficiently, in ways conducive to building wealth How else did they get there right Well this goes for those millionaires who didn t inherit their wealth 3.They believe that financial independence is important than displaying high social status Practical You can display high social status all you want, but if you re still dependent on active income then you re one very vulnerable fella 4.Their parents did not provide economic outpatient care Pretty good training ground, don t you think They train their kids to be survivors and in the end, to be winners This is the best legacy they can leave to their children 5.Their adult children are economically se This was a great audio and text book yes, I got both versions I especially enjoyed the chapter that had Working for the Tax Man and The Martin Method 95% of the millionaires own stocks most have 20% or of their wealth in publicly traded stocks.Build a good money team accountant, attorney, financial advisor, and you and spouse.Looking to build your money team Ask your CPA If you do not have CPA get one.Be frugal, know your financial picture, and have goals with your money.The good millionaires know how much their costs are in life how much they spend shopping, traveling, etc.You heard of emergency fund, car fund, retirement fund, etc well I am adding the Go to Hell Fund The typical millionaire has a Go to Hell Fund which allows them to quit their job and not work for like 10 years or So when you quit your job or get fired, you can say to your employer go to hell and walk out the door and not worry about working.I like this part in the book about UAWs and PAWs You got three categories to millionaires.UAW Under Accumulator of Wealth 1 2 of AAW AAW Average Accumulator of Wealth PAW Prodigious Accumulator of Wealth 2 AAW To figure out what category you are in do the following formula Age 10 x IncomeExample Age 30, The point of this book comes through loud and clear, the people that we think are millionaires are than likely swimming in debt Just because you live in a fancy neighborhood and drive an expensive car does not make you rich In fact it goes as far as to say that most millionaires live in less costly areas because it costs alot of money to keep up with the JONES In fact their study showed 37 percent of their millionaires bought used cars opposed to new and paid cash of course Now their used cars may be Mercedes but they save on the depreciation of the person that bought it new They reference one guy nameed W W Allen who is a self made MUTImillionaire He and his wife have lived in the same three bedroom house in the same middle class neighborhood for nearly forty years Living in less costly areas can enable you to spend less and to invest of your income You will pay less for your home and corresponding

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