Call them the invisible rich. How do they do it? Sure, money like that sometimes comes from an inheritance or another fortuitous break, but more likely it’s the result of diligence, smart choices and, well, deferred gratification. SOURCE: Wealth-building secrets of the millionaire next door – Yahoo Finance.
Wealth-building secrets of the millionaire next door
It seems like there are thousands of articles and books lately to tell you how to become rich. But do any of them actually have anything unique to say? I am not going to go into the details about the above article other than to give you the topic titles.
* They Don’t Spend Beyond Their Means
* They Educate Themselves
* They Pick the Right Field
* They Save (and Invest) Early
* They Don’t Swing for the Fences
* They Keep Themselves Covered
* They’re Wise About Windfalls
* They Hang Onto Their Cars (and Houses)
* They Avoid Debt
To this old Midwestern boy all these things just seem like common sense. Sure some like picking the right field are more luck than anything, but most are achievable by most of us if we just stick to it. I really don’t know what keeping myself covered has to do with anything but I figure I must have done a good job at it since I am pretty well covered today. 🙂
Never had a windfall except for the new fishing reel I got as a young boy from my grandfathers estate. Now I am not a millionaire but I think I do have enough to keep me going for the final years of my life. But to me the point of life is not financial wealth building (easy for someone to say who has enough) but more along the lines of morality building and trying to treat the other guy with respect whether he deserves it or not.
But given the statistics lately it seems that most just can’t seem to live by the standards above. Maybe they should be teaching more about that in our school systems? I don’t know about wealth-building but I think I have done a pretty fair job of paying forward for all the good fortune I have had in my life. I might have had it tough in some regards, losing my mother in early life and losing hearing at mid-life was no joyride, but I had it a lot easier than many folks I came across in life….