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But eight out of ten millionaires in America are first-generation wealthy.
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It is a misconception that all American millionaires have inherited their wealth and that everyone looks like a millionaire and lives the life of a millionaire. This book will know that most millionaires do not become rich without courage and taking risks.Īre you ready for your journey to wealth? ( Tag – The Millionaire Next Door Summary)
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You will learn that parents who unintentionally help their young children with money often end up making these children weak and expensive, never making them rich on their own. Many millionaires drive second-hand cars. You will know that you cannot judge the level of wealth of a person just by looking at it. You will know how millionaires manage their time, money, and energy effectively. This book will learn that most millionaires did not become wealthy by living a lifestyle that exceeded their requirements. I am sure you must have thought this once, then the good news is that if you follow the example of many millionaires of America, you too can earn wealth. Have you ever thought that you too can become rich? Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door.Įverything of this The Millionaire Next Door Book is Summarized in The Millionaire Next Door Summary.ĭo you know that most millionaires were not born rich, but they have earned so much wealth? In fact, you will learn that the flashy millionaires glamorized in the media represent only a tiny minority of America’s rich. You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their family’s wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people. The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence. According to the authors, most people have it all wrong about how you become wealthy in America. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, reissued with a new foreword for the twenty-first century by Dr. Often they are hard-working, well-educated middle- to high-income people. “Why aren’t I as wealthy as I should be?” Many people ask this question of themselves all the time.