Sunday, April 5, 2015

The Millionaire Next Door Post 1

All second quarter I listened to my buddy Daniel rave about the book, "The Millionaire Next Door." He told me several times how I "must" read the book. So, when we got a second book assignment I knew right away what I would be reading, the highly recommended book, "The Millionaire Next Door."
This book disproves many peoples, including my own theory on this countries millionaires. Millionaires are often thought to be big time businessmen, celebrities, doctors, etc. Two-thirds of the millionaires in our country own their own business. Taking a step back the common misconception on how to acquire wealth can be blamed on the media and what fascinates our people. The millionaires we celebrate are the athletes, movie stars, and musicians, and we often celebrate the wrong ones. Our media throws this in our face and there is no way of avoiding it besides ignoring it. However, people don't and it is hard to do, so those are the millionaires we hear about. Although, the other two-thirds are who should be celebrated. People who worked hard to own their own business.
You are also hit with the statistic that 80% of millionaires are first generation.
We also view wealthy as a Lawyer who drives wears beautiful Italian suits and drives a BMW. This book examples how these people are spending their money to keep up the appearance of being wealthy, in turn this lowers their wealth. The counter argument being if you are making a lot of money you should spend it to enjoy it, because how much does money really matter?

1 Comments:

At April 5, 2015 at 3:57 PM , Blogger MisterFischer said...

I'm glad you're reading this book. While it doesn't fit with your interest in self-discovery (you hippie, you), it does cut through the BS and explains how things actually work, which I think you'll like.

 

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