“Yeah right”, “Get Outta Here”, “Stop Lying”, I know what you’re thinking as you opened this blog post and read that headline. Millionaires live lavishly in huge mansions, drive expensive cars and eat at fancy restaurants every night. Growing up watching MTV Cribs and seeing how celebrities and athletes lived I assumed every millionaire had this lifestyle. I was completely wrong and unaware of how the average millionaire moves. Reading The Millionaire Next Door by Thomas J. Stanley was extremely eye-opening for me. I highly recommend this book for anyone trying to learn about money and personal finance. I had no idea the average millionaire could be my next door neighbor.
From tv shows to music videos and movies I’ve been preconditioned to …show more content…
Although most of the Penta and deca-millionaires were business owners, being a business owner is not the only path to success. There are plenty of millionaires who are managers, accountants, engineers, dentist who just lived below their means for decades and became wealthy.
5.) Since you’re a millionaire you must live in a multi-million dollar home right?
Wrong yet again, 90% of millionaires lived in homes valued under $1 million and almost 30% lived in homes valued under $300k. And 50% of millionaires lived in their home for more than 20 years. I assume they didn’t sell their ‘starter home’ because of a salary increase. They kept their living expenses the same despite the new wealth. Although some of the stats are outdated from the ‘The Millionaire Next Door’ the habits and concepts are imperative. There’s nothing wrong with being flashy but don’t let that be the only thing you live for. Nowadays, when you look on social media there are plenty of people who appear to be rich because of the material things they display. They have a millionaire lifestyle on a Walmart salary. I promise you more than half of these people are living check to check. Soon as money comes in it goes right out the door. Stop living rich and dying broke and be great with your
From tv shows to music videos and movies I’ve been preconditioned to …show more content…
Although most of the Penta and deca-millionaires were business owners, being a business owner is not the only path to success. There are plenty of millionaires who are managers, accountants, engineers, dentist who just lived below their means for decades and became wealthy.
5.) Since you’re a millionaire you must live in a multi-million dollar home right?
Wrong yet again, 90% of millionaires lived in homes valued under $1 million and almost 30% lived in homes valued under $300k. And 50% of millionaires lived in their home for more than 20 years. I assume they didn’t sell their ‘starter home’ because of a salary increase. They kept their living expenses the same despite the new wealth. Although some of the stats are outdated from the ‘The Millionaire Next Door’ the habits and concepts are imperative. There’s nothing wrong with being flashy but don’t let that be the only thing you live for. Nowadays, when you look on social media there are plenty of people who appear to be rich because of the material things they display. They have a millionaire lifestyle on a Walmart salary. I promise you more than half of these people are living check to check. Soon as money comes in it goes right out the door. Stop living rich and dying broke and be great with your