As noted last week, I am going to post on learnings from the book the Millionaire Next Door. The posts will include a short thought from the book, the page it appears on in the paperback edition, and a thought or two from me. I'm really looking forward to this as it will allow me to provide you with some solid guidance as well as review the material again myself.
With that said, here's our first quote from the book:
Why are so many people interested in what we have to say? Because we have discovered who the wealthy really are and who they are not. And, most important, we have determined how ordinary people have become wealthy.
What is so profound about these discoveries? Just this: Most people have it all wrong about wealth in America. Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend. (page 1)
In the end, it's all about net worth. And that's what this blog is about -- helping you to grow your net worth and end up improving your financial situation. Going through this book is going to be a big help in achieving this objective.
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