THE MILLIONAIRE NEXT DOOR (animated book summary)

“The Millionaire Next Door” by Thomas J. Stanley, discusses the simple spending and saving habits that lead to more cash in the bank than most people will earn in their entire lives while helping you avoid critical mistakes on your way to financial independence.

Most people believe that being wealthy means having many luxury items and living a lavish lifestyle. However, a lavish lifestyle is merely a sign of high expenses and not necessarily wealth. The idea that millionaires live in huge mansions in ultra-rich neighborhoods, drive fancy sports cars, and wear designer clothes a fallacy. As it turns out, frugality is the crucial foundation of wealth-building; and the process of becoming a millionaire is not a flashy, rapid process, but a slow one that is years in the making.

The authors shares the following common practices of wealthy households, and how the millionaires play offense with income-generation, and play defense with their spending.

1) They live well below their means.
2. They allocate their time, energy, and money efficiently, in ways conducive to building wealth.
3. They believe that financial independence is more important than displaying high social status.
4. Their parents did not provide economic outpatient care.
5. Their adult children are economically self-sufficient.
6. They are proficient in targeting market opportunities.
7. They chose the right occupation.

At the end of the day, it doesn’t matter how much you earn; it matters more how much you SAVE and invest relative to income. The average millionaire achieved that status because they chose the right career, faced their fears courageously and handled their money well with remarkable financial discipline and frugality. This is how they became the millionaire next door.

This channel is for anyone who wants to build wealth and liberate greatness. My goals are to help anyone I can on the path to unlock financial freedom and become the best version of themselves.

Do you want to be a millionaire one day? Do you want to have the freedom to do whatever you want, whenever you want, with whomever you want?

According to research from Thomas Crowley, 85% of millionaires read two or more books per month. Millionaires read books that encourage self-improvement.

If you are looking to build wealth and level up, you've come to the right place. :)

Видео THE MILLIONAIRE NEXT DOOR (animated book summary) канала The Millionaire Mastermind