Book Review: The Next Millionaire Next Door
“The key ingredients remain living below your means and saving and investing the difference. Fewer millionaires are small business owners, and more are 401K millionaires.”
But I imagine there are more millionaires among social media influencers. :)
A million aint what it used to be. It takes 1.6-mil to buy what a mil bought in 1996.
I am just a regular guy. I was (and am) a developer, systems analyst, development manager, etc. for 40 years. Now I am at the end of my career having a great time as an independent contractor.
Hit $1M about 6 - 7 years ago. Without having read or heard Dave Ramsey we instinctively followed his teachings. Bought a $100K house when my income said I could afford 5 times that much. Still have my 2001 car and when we needed a new one paid cash for a 3 YO econobox that accomplished its objective: getting me to and from the client site.
We always keep appliances until they die. Had 8 YO TVs until last year.
Work hard, eschew debt except mortgage and double pay that (owned 2 houses, paid each off - the first one in 10 yrs, second in 5) and DO WITHOUT. Easy formula.
PS: We travel a lot to Mexico and the Bahamas and the like so it is not like we live in sack cloths!