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Saturday, September 22, 2012

The Millionaire Next Door

I'm reading The Millionaire Next Door by Thomas Stanley and William Danko.  It's a book I've been meaning to read for a while now but could never seem to find it in our bookstores.  I'm not sure why.  I'm guessing it might be due to the fact that it is an American book.  Anyhow, I ordered it and it has finally arrived.  The reason I wanted to read it was because many other money books quote from it or refer to it regarding concepts.  And no wonder.  I've barely started the book and already the information is inspiring.

Apparently (in the USA) most millionaires are self made, or what they call "first-generation-wealthy"  This means they started from nothing, had no lottery winnings or inheritances but became millionaires on their own.  This is great news for all people in western civilisations.  Australia and Europe from what I understand have similar opportunities for wealth creation as the Americans.  So there's no one to blame and nothing to wait for.

If wealth is achievable for any individual, then it is something that can be taught and learned.  Let's get this into schools.  If there is no reason why a person can't be wealthy, there is no reason why a person should be poor because of ignorance.  Being poor because of choice is a different matter, but let's at least provide our kids with the information so that they can make their choice.

Pass this on if you think its a good idea.

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