That's right. Although having a million bucks isn't as impressive as it once was, it's still nothing to sneeze at. In fact, Reuters reports that in 2009 there were 7.8 million millionaires in the United States. In Australia, in 2012 there are an estimated 180,000. That's a lot of people, people. And the odds are one or two of them are living near you. Heck, one of them might even be your neighbour. In fact, the odds are very good that it is your neighbour. But, Len, you don't know my neighbour. That guy doesn't look anything like a millionaire. Advertisement
Well, guess what? Your suburban millionaire neighbour called (oh yeah, we go way back) and the two of us had a nice little chat. Here's a few things he shared with me – but apparently doesn't want to tell you. (No offense, I'm sure.) 1. He always spends less than he earns.
In fact his mantra is, over the long run, you're better off if you strive to be anonymously rich rather than deceptively poor. 2. He knows that patience is a virtue.
The odds are you won't become a millionaire overnight. If you're like him, your wealth will be accumulated gradually by diligently saving your money over multiple decades. 3. He serves his guests inexpensive coffee.
When you go to his modest three-bed two-bath house, you're going to be drinking Nescafe. And if you need a lift, well, you're going to get a ride in his ten-year-old economy sedan. And if you think that makes him cheap, ask him if he cares. (He doesn't.) 4. He pays his credit card off in full every month.
He's smart enough to understand that if he can't afford to pay cash for something, then he can't afford it. 5. He realised early on that money doesn't buy happiness.
If you're looking for nirvana, you need to focus on attaining financial freedom. 6. He knows the power of financial freedom.
He never forgets that financial freedom is a state of mind that comes from being debt free. Best of all, it can be attained regardless of your income level. 7. He...
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