Monday, 6 October 2014
#106 - The 7 Millionaire Factors
In The Millionaire Next Door authors Thomas J Stanley PhD and William D Danko PhD explain how their research of the affluent in the USA revealed 7 key factors of *PAWs (prodigious accumulators of wealth):
*PAW = someone with a net worth of at least $1m
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.
Recommended Reading
Click for The Millionaire Next Door by Thomas J Stanley PhD and William D Danko PhD Amazon UK/US
Click for CK Notes on The Millionaire Next Door (FREE on Kindle) Amazon UK/US
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