Most people will never become wealthy in one generation if they are married to people who are wasteful. A couple cannot accumulate wealth if one of its members is a hyperconsumer.
Most millionaires measure their success by their net worth, not by their realized income. For the purposes of wealth building, income doesn’t matter that much. Once you’re in a high-income bracket, sa...
It’s amazing what you can do when you set your mind to it. You’ll be surprised how many sales calls you can make when you have no alternative except to succeed.
In our most recent national survey of millionaires, we asked the respondents to designate their country of origin/ancestry/ethnic origin. The results may surprise you. TABLE
If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.
I found that the typical millionaire had more than 30 percent of his wealth invested in publicly traded stocks. More often it is in the low-to-mid-20-percent range.
I am not impressed with what people own. But I’m impressed with what they achieve. I’m proud to be a physician. Always strive to be the best in your field…. Don’t chase money. If you are the best in y...
How can someone be considered wealthy if, for example, he is worth only $460,000? After all, he’s not a millionaire. Charles Bobbins is a forty-one-year-old fireman. His wife is a secretary. They have...
Economic independence belongs to those with the willingness to allocate time, money, energy, and cognitive resources to achieve financial goals.
Consider the level of car-purchasing knowledge Dr. South has recently acquired that will never pay capital gains or real dividends or enhance the productivity of his business. He now has knowledge abo...
But the lavish lifestyle sells TV time and newspapers. All too often young people are indoctrinated with the belief that those who have money spend lavishly and if you don’t show it, you don’t have it...
Allocating time and money in the pursuit of looking superior often has a predictable outcome: inferior economic achievement. What are three words that profile the affluent? FRUGAL FRUGAL FRUGAL Webste...
A self-made millionaire stated it best when he told us: I can’t get my wife to spend any money! Most people will never become wealthy in one generation if they are married to people who are wasteful.
A good start is to keep an accurate record of each and every expenditure that your family makes each month. Or ask your accountant to help you set up a system for tabulating and categorizing these exp...
$90,000, she’s worth more than twenty times that amount. And she is in control of her household’s domestic spending. Robert and Judy, on the other hand, are frightened. And they should be. This couple...
Our youth are told that buying expensive items is normal behavior for affluent people. They are led to believe that the wealthy have a high-consumption lifestyle. They learn that hyperspending is the...
Most millionaires generally don’t limit themselves to stocks, bonds, and related investments—they invest heavily in private businesses and real estate.
Millionaire has told me that true diversity has much to do with controlling one’s investments; no one can control the stock market. But you can, for example, control your own business, private investm...
Being well educated has certain economic drawbacks. Victor’s
What if he had taken full advantage of the tax-advantaged benefit from the time he was first employed? Today he would be a millionaire. Instead, he is on the perpetual earn-and-consume treadmill.