The Millionaire Next Door

Although the famous book by Thomas Stanley and William Danko,The Millionaire Next Door is over ten years old, the message of the book is more relevant than ever.

The way most people think about wealth is wrong, and that is why they are not wealthy. They don’t save, or not nearly enough; they don’t build equity; and they fail to live within their means. In all, the authors identified seven characteristics of the wealthy in the United States.

I would summarize all of these characteristics as: self-disciplined single-minded persistence in achieving long-term financial independence, by offering genuine value to customers and getting paid handsomely for it.

There are many lessons to be learned in this book, but you won’t learn them if you don’t read it!

Bottom line: success leaves traces, or tracks. If you have a goal, find others who have achieved what you want to achieve and study what they did to get there. You will find that method much more satisfying than reinventing the wheel.

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