Posted on 08/26/2020 5:32:27 AM PDT by tbw2
'Everyday Millionaires' by Chris Hogan was heralded as an update of the original study on people with a million dollar or greater net worth, 'The Millionaire Next Door'. While this book has many points in its favor, it falls short of some of the promises the authors made.
(Excerpt) Read more at owlcation.com ...
Book Review: ‘Everyday Millionaires’ by Chris Hogan
https://owlcation.com/humanities/Book-Review-Everyday-Millionaires-by-Chris-Hogan
Many post right here on FR...
Having a million dollars worth of assets is easy, having the actual million dollars in ready cash is a color of a different horse.
A million bucks well invested can generate $40,000 in spendable maney per year.
Do you still feel rich?
Money.
I’m not sure Manny likes being spent.
The hidden point in most of these books is live within your means. My grandmother used to say watch the pennies and the dollars will follow. My plan was to owe nothing once the house was paid for. Great feeling now to just shop with cash or do what I want without paying the 5-15% vig per year for the “pleasure” of buying something. That is the advice I give anyone who will ask. Easy, well no unless you are packing away big bucks from work. Remember, money is something you need if you don’t die tomorrow!
Have a million saved plus a house. It’s enough with pensions and SS. At some point you draw down the principle but not yet.
,
If you don’t live too high, like now with the virus forces us to, you can pass some of it on, but as I tell my wife if we don’t fly first class now our daughter in law will.
Please, who is your financial advisor?
I’m not joking.
Thanks in advance.
‘The Millionaire Next Door’
Along with the usual junk mail was a statement from a utility we hold... Check it out just to be safe...
TWENTY PLUS THOUSAND SHARES!!!!
That is a surprise, they did split long ago, but?
Over a million dollars! The DRIP plan is working well!
Then I noticed it was for my neighbor.
He has been doing very well.
I’ve read “The Millionaire Next Door” and the followup book his daughter wrote, “The Next Millionaire Next Door”.
I’ll say Dave Ramsey’s books on getting debt free made a bigger difference in our net worth.
I do my own.
I’m a Claremont grad. ;-)
Buy stock and get rich.
The only way I made money. I started in 2009 and tripled the money from $13,000 to $39,000
Then held till 2014 when I bought over the years stocks like Apple, Netflix, Nvidia and now AMD. I have 7 figures in stock value.
Not cashed out yet but still owning the stock so paper rich.
The Feds and state will take 50% at once if I sell all so I will not, just enough to live on plus you can borrow money from the broker if need be and let the stock price go up making you back the borrowed money and the 7% interest they charge.
How I found the stocks was reading what stocks had the best return.
I live on my money I make at my job so I am poor!
If my AMD stock gets to $130 then I retire. I plan on selling some each year and leave the rest making me money (hopefully).
Stocks are going up quite a bit this year. I bet Wall Street knows Trump will win.
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