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The average millionaire
Recently, a friend posted on Facebook this fact about millionaires: The average millionaire reads a book a month.
The posting drew some funny responses, akin to "I read a book a month, why am I so broke?" While funny, the responses pretty much miss the point. This fact about millionaires shows us some insight into the kind of people that become millionaires -- the average millionaire is a reader … a learner.
I’m obsessed with millionaires: How they live and how they get where they are. Being a millionaire is much more common than it’s ever been -- there are about 10 million of them in the world today. I am intrigued by what they do – or don’t do – to build a net worth more than a million dollars. And of course I want to be like them … someday.
Thomas J. Stanley’s "The Millionaire Next Door" and other books provide a lot of insight to what millionaires are like. I know one couple who are the quintessential case. First off, you would never know they’re millionaires. They are not college graduates. Their parents were not wealthy (far from it, in fact). They live a "middle-class" life. That’s the ironic thing about being a millionaire – you can’t become one if you live like one!
Here’s what I know of this couple:
What they do: They live in a small home in a nice neighborhood, drive an old sedan and an old truck. They have one TV and no DVR. They live a simple life. They’re frugal (some might call them cheap). They’re slow to make big purchases. They plan ahead. They save their money. They’ve invested in the stock market and real estate. They attend church and give a lot to charity. They watch their money closely and live on a budget.
What they don’t do: They don’t eat out at restaurants very often. They don’t buy things on a whim. They don’t wear brand-name clothes or shop at elite stores. They don’t go on luxurious vacations. They don’t care what others think of them. They’re content.
Our culture makes it difficult to live like this couple. We’re constantly bombarded with ideas (via TV, advertising, friends, neighbors) that spending money is the way to happiness. But I suggest that if you someday want to become a millionaire (and who doesn’t, really?) you’d better start living like one of these "millionaires next door." And it takes more than reading a book a month.


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