It also does not necessarily make you rich. Years of earning big money doesn’t necessarily equate to building serious wealth.
On, the author writes “Physicians and surgeons earn more than four times as much as the average American each year.” The problem? “They fall into the 33rd percentile or below on our assessment of frugality and also tend to score low on financial acumen“. And, the devastating “freedom to consume” that saddles so many of us today with a lifetime of debt.ĭebt, by the way, that affects all of us - including those who earn a bunch of money.Īnd, that incessant need to always “keep up” and how that prevents us from being perpetually debt free. Throughout the book, Sarah Fallaw writes about the myths of money and the biggest influences that help us to achieve wealth. One could have a high income and a constant influx of money, but if they’re not able to apply the right strategies towards saving and investing money, then they stand a good chance of not building verified financial wealth. The foundation for becoming rich is grounded in the decisions we make, not just the circumstances that happen to us. Why did the original The Millionaire Next Door sell more than 5 million copies? " Perhaps it was because the research revealed that wealth could be achieved via our own behaviors," Fallaw wrote on of The Next Millionaire Next Door.īoom, the stage has been set. Pick up your copy of The Next Millionaire Next Door The Next Millionaire Next Door The author hones in on some amazing wisdom through insanely interesting data science. In about 250 pages, Fallaw writes a story of what pseudo-affluence means using today's money and teaches exactly what it takes to build serious mind-numbing wealth using strategies that truly rich people practice every day. The book's called " The Next Millionaire Next Door", and it continues in the footsteps of Thomas Stanley, but is designed for today’s generation.
7 KEY TAKEAWAYS FROM THE MILLIONAIRE NEXT DOOR FULL
Thomas Stanley’s daughter, Sarah Fallaw, published a new book full of completely updated wisdom about finance and the strategies that truly make someone wealthy? Naturally, because she is the daughter of the highly regarded author of The Millionaire Next Door, Thomas Stanley, I had to give it …and I begged Fallaw for a couple of free copies.
Just because high income people make a ton of money, it doesn’t always mean that they’re building actual fortunes. The Millionaire Next Door cautions us against being deceived by outward displays of financial wealth. Rather, it teaches us that the average millionaire most likely lives a humble existence in the house next door. Through years of research, the book proves that wealthy people aren’t necessarily driving around in expensive cars, living in Amazon-sized homes and shopping for $1,000 purses and wallets. It's no secret that my favorite book about financial independence and building serious wealth is The Millionaire Next Door by Dr.
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