The Millionaire Next Door Book review

Theirs only a few books that make a difference in your life and really open your eyes. The millionaire next door is one of them. It’s a book about who the millionaires in America are. What they do and what they don’t do. ✅2 FREE AUDIOBOOKS✅ https://amzn.to/2Enayo8¬¬¬
And not just that, but also what you can do actually to become a millionaire.

The Millionaire Next Door

1. Appearance is just that: they don’t symbolize the truth
– The story back in college ( wearing all these clothes )
– Now buying clothes from Goodwill ( and 100x the money I had in college)
Book Example: lawyer vs. the millionaires
– The lawyer made around 500k a year
– Foreign Car lease ( millionaire own )
– $5,000 dollar car ( millionaire would spend a 10th)
– Lived in an upper-class neighborhood ( Millionaire lived in the same neighborhood all his life)

However, One thing: Millionaire did was spend a lot of money on education for your children. Private school.
Why: education is everything.

2. Security and Foundation
Explanation: The core of financial freedom, if you have no security, no emergency fund, nothing in case life happens, then it’s over.
Example: Currently, I have 6 months’ worth of expenses, and save around 80-90% of all my Income.
However: In the book, these millionaires have enough to keep them going for 12 years or more.

Irony: Doctors, lawyers, your friends, or maybe you. If that paycheck doesn’t come in for 1 month your done.

Example: the earnin app and all this early paycheck stuff.
It’s a sign of financial insecurity.
Answer: you should be working on a game plan.

3. How to Become Wealthy
Explaining: It’s more simple than people think.
Story: People think wealth comes from
– Inheritance
– Luck
– Careers
However: True wealth comes from F.I.R
– Investing in Assets and not liabilities like cars

Little Tips:
They talk about where:
– To live
– Cars to buy
– Businesses
– Careers
– Overall secrets of who these people are and how they think

Networth Formula: ( weird thing is that, it’s not dependable on your working age)
– How you make
– Time your age
– Divide by 10

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