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To: zeestephen

Anybody can do that. It just takes the willingness to not spend everything you have and save a few bucks every paycheque. The size of the loans might vary, but it works in principle.

Those who are wealthy are usually recipients of grandparents who decided to start doing that.


4 posted on 01/05/2024 9:08:43 PM PST by Jonty30 (In a nuclear holocaust, there is always a point in time where the meat is cooked to perfection. )
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To: Jonty30

Dave Ramsey has done studies of millionaires and how they got that way.

Less than 10% had significant inherited wealth.

The vast majority lived frugally (below their means), were happily married (no divorces), had both husband and wife working, owned their homes free and clear and saved at least the tax deferred 15% of their income each month for at least a couple of decades.

The five most common profession of these millionaires was:

—Accountant
—Engineer
—Corporate middle management
—Teacher
—Attorney

Common misconceptions about millionaires:

—They spend lavishly. Nope—they are savers not spenders.
—No doctors. While being a doctor can be a lucrative career many doctors are terrible at saving money and a significant percentage of them live beyond their means.
—Less inherited wealth than you might expect. Many folks who inherit wealth overspend and blow it.


25 posted on 01/06/2024 3:05:26 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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