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...
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...
Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline. How
Unfortunately, most Americans think that they are emulating the rich by immediately consuming any upward swing in their cash flow.
To many successful, achievement-oriented children of the affluent, accumulating money is not the superordinate goal. Instead, they want to be well educated, to be respected by their peers, and to occu...
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.
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?
The North method took only a few hours. Contrast this with Dr. South’s automobile-purchasing crusade—a process that took him at least sixty hours. And, of course, Dr. North likes to keep his cars for...
Si quieres comportarte como una persona deslumbrantemente rica, alístate para gastar como mínimo el doble o el triple de lo que el típico millonario paga.
Nearly all (95 percent) of the millionaires we surveyed own stocks; most have 20 percent or more of their wealth in publicly traded stocks.
Most of us want to be wealthy, but most of us do not spend the time, energy, and money required to enhance our chances of realizing this goal.
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...
If you’re not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your household’s total annual realized income.
If your goal is to become financially secure, you’ll likely attain it…. But if your motive is to make money to spend money on the good life,… you’re never gonna make it.
How many highly paid ball players have a level of wealth in this range? We believe only a tiny fraction. Why? Because most have a lavish lifestyle—and they can support such a lifestyle as long as they...
How do you become wealthy? Here, too, most people have it wrong. It is seldom luck or inheritance or advanced degrees or even intelligence that enables people to amass fortunes. Wealth is more often t...
Great offense and poor defense translate into under accumulation of wealth.
Good health, longevity, happiness, a loving family, self-reliance, fine friends … if you [have] five, you’re a rich man….
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...
All too often high-income-producing UAWs spend countless hours studying the market—but not the stock market. They can tell you the names of the top auto dealers, but not the top investment advisors. T...