How the Millionaire Next Door pursues Income

Today’s post will be short as it links to another guest post I did. When it comes to pursuing financial independence there are many great tips to remember.My latest guest post looks at How the Millionaire Next Door Pursues Income.

Here’s a short exert from the article:

When it comes to accumulating financial resources and building wealth, I prefer to learn from people who have, “been there, done that.” That’s why I picked up [The Millionaire Next Door] many years ago.

About 1 in 15 households in America are millionaires when you include household equity. Compare that statistic with less than half of Americans having just $100,000, again, including household equity.

Many people we presume to be millionaires are, in reality, worth less, much less. In fact, one in ten drivers of an imported luxury vehicle are actual millionaires. The most common cars driven by most millionaires today include Toyotas, Hondas & Fords.

Don’t confuse rich with wealthy.

If we want to become financially wealthy then we should model the wealthy, not the rich. That’s why the book described financial defense as being critical. If we overspend our income, we will never become millionaires.

“A fat kitchen makes a lean will,” as Ben Franklin phrased it.

Check out the article by clicking here and leave a comment. I’ll be sure to read each one and respond!

-Matt
Master Distiller