The affluent tend to answer yes to three questions we include in our surveys: Were your parents very frugal? Are you frugal? Is your spouse more frugal than you are?
Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live i...
The majority either ignore their critics or use criticism as an inspiration to succeed.
Their consumer behavior had an impact on their son. They constantly sent him a message: One earns to spend. When you need to spend more, you need to earn more. L
There is an inverse relationship between the time spent purchasing luxury items such as cars and clothes and the time spent planning one’s financial future.
They became millionaires by budgeting and controlling expenses, and they maintain their affluent status the same way. Sometimes
I have always been goal-oriented. I have a clearly defined set of daily goals, weekly goals, monthly goals, annual goals, and lifetime goals. I even have goals to go to the bathroom. I always tell our...
It matters less how much more you make than what you do with what you already have.
Allison shared her thoughts on why so many people are challenged when it comes to building wealth: • They’re playing the game of comparisons by using social cues to decide what’s important and how the...
Although millionaires have much more experience in making investment decisions, they allocate significantly more hours than do nonmillionaires in an effort to become even better investors. That is one...
America is still the land of opportunity. Over the past thirty years I have consistently found that 80 to 85 percent of millionaires are self-made.
Big Hat No Cattle
Why do I continue to write about rich people? It is not for the benefit of rich people! What I write is designed to enlighten those who are confused and misinformed about what it means to be rich. Mos...
What if your goal is to become financially independent? Your plan should be to sacrifice high consumption today for financial independence tomorrow. Every dollar you earn to spend is first discounted...
For every millionaire who owns a $1,000 suit, there are at least six owners who have annual incomes in the $50,000 to $200,000 range but who are not millionaires.
Good health, longevity, happiness, a loving family, self-reliance, fine friends … if you [have] five, you’re a rich man….
Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.
We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one acc...
Webster’s defines frugal as behavior characterized by or reflecting economy in the use of resources. The opposite of frugal is wasteful. We define wasteful as a lifestyle marked by lavish spending and...
Unfortunately, most Americans think that they are emulating the rich by immediately consuming any upward swing in their cash flow.
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