Once the excessive cars, boats, and lake homes were gone, he had a lot more free time. He talked about how liberated he was after liquidating his assets. Instead, learn and practice the art ofPractice and learn the art of stealth wealth.ĭuring college, I met a guy who recently went through a divorce. Expensive cars, condos, and jet skis can drain your time and money. Don’t succumb to lifestyle inflation, where you spend more money as your income goes up.Īs you own more stuff, that stuff has a tendency own you. There are many ways to be frugal without looking cheap. Very simple, spend less than what you earn. One of the main points of the book is that “wealth is not the same as income…wealth is what you accumulate, not what you spend.” Live Below Your Means Most millionaires reject showing off their money – they live in sensible homes “next door”, bargain shop for used cars, and raise children who don’t realize how wealthy their families are. Most people see millionaires living in Beverly Hills or Park Avenue with nice cars and glamorous homes. The Millionaire Next Door is a review of millionaires, and changed how they’re perceived.
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