Poor people make poor decisions with money over time while rich people do just the oppositte – they make very good decisions consistently over long periods of time. Rich people pay with cash because they are actually very frugal with their money. Of course rich people pay with cash because they are rich and they have cash, right? Not only do they know where they want to go, but they know how and when they will get there.
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Rich people understand this and this is why the majority of rich people set daily, monthly, yearly, and annual goals. If a goal is not clearly defined, written down on paper, and given a time frame, then it is not a goal at all….it is merely a wish. Rich people are incredible at remaining proactive and setting goals, while poor people are incredible at reacting and wishing things would get better. There is a difference between wishing it were better or simply being better.
THE MILLIONAIRE NEXT DOOR QUOTES FULL
To put it simply – rich people are in full control of their money and their future. These are the same people who tell their money what to do instead of wondering what happened at the end of each week/month/year to all of their money. People who are proactive and plan out exactly what their money is going to do month in and month out are rich people.
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Rich people are rich because they understand what it takes to become rich and stay rich. These facts have been gathered by many books including the book The Millionaire Next Door. If this book was required reading in high school, the world would look a lot different for the next generation.īelow is my top 20 facts about the wealthy across America. This book completely revolutionized the way I feel about money and opened my eyes to the true differences between what the main stream perception of wealth is and the actual reality of it.Įven if you don’t like reading at all (well, you are reading this), I still recommend you force yourself to pick up this book. The lesson of humility given to us by Grace Groner is this: To see the smallness of our own needs and the bigness of the needs of those around us.One of my all time favorite books is one the Millionaire Next Door by Thomas Stanley. Her donation to Lake Forest College is allowing thousands of students to have study-abroad and internship opportunities that never would have been open to them otherwise. By living simply, she was able to give generously. Although by no means a miser, Miss Groner was frugal, content to live with only a few items of furniture and an outdated television set. The college was aware of her intentions, but jaws dropped when the school realized Miss Groner had bequeathed $7 million dollars to it! Hardly anyone had been aware of the simple woman’s net worth, and her lifestyle certainly didn’t indicate her riches.īack in 1935, Miss Groner had purchased $180 in stock, and the investment had, over the course of time, multiplied into a sizeable fortune. She had arranged for the proceeds of her estate to be given to Lake Forest College. She enjoyed attending football games at her alma mater, and she had many friends throughout Lake Forest.Īt the age of 100, Grace Groner passed away. She was a kind-hearted woman, oftentimes funneling money anonymously to needy families in the community. Miss Groner resided in a small, one-bedroom home in Lake Forest, and actively volunteered at the First Presbyterian Church. She attended Lake Forest College in the Chicago suburbs and then worked 43 years as a secretary. Grace Groner epitomizes the ethic of low-profile leadership.Ī child of the Depression, Grace Groner was orphaned by the age of 12 and raised by friends of her parents. They self-consciously avoid the spotlight, preferring to make their contributions anonymously. Humble people rarely adorn the headlines. Indeed, in the low-consumption lifestyles of millionaires we glimpse a key secret of their wealth: humility. Rather, they drive beat-up pickup trucks like Sam Walton or dine at McDonald’s like Warren Buffett. Individuals with enormous net worth generally do not flaunt their affluence by driving Ferraris, purchasing multi-million dollar summer homes, or dressing according to fashion trends in Paris or Milan. Danko’s book The Millionaire Next Door in which they note the misconceptions many people have about millionaire lifestyles. ~ VP of a trust department, after dining with several first-generation millionaires Where are the millionaires who look like millionaires?”
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“These people cannot be millionaires! They don’t look like millionaires, they don’t dress like millionaires, they don’t eat like millionaires, they don’t act like millionaires–they don’t even have millionaire names.