(My Original Blog Post: http://ping.fm/VnZeq)
������ I am listening to the 2 tape set The Millionaire Next Door read by Cotter Smith with the authors of Thomas J. Stanley, Ph. D. and William D. Danko, Ph. D.� What's interesting from their many years of research is they found that most millionaires and decamillionares live very frugally.� They are frugal about most things in life.� They find that those that spend a lot of money to try to look wealthy, often are not, they think the media skews this wrong.�� What you here in this tape set may surprise you. You may not realize that such wealthy people live so far below their means.� I believe the message they are trying to get out, is they are wealthy because they are frugal, not that they are wealthy then decide to be frugal.� These are based on mostly first generation wealth.� They say the spouse is even more frugal in most cases.
They have a good example that they give on Dr. North and Dr. South comparing both doctors that make a lot of money, and how one spends a lot of money and how is very frugal, and how they end up in different spots in life.� It talks about the different habits each has in each of their lives.� They refer to tracking spending, and what you spent on each type of expenditure, or to get an accountant to do this.� They compare PAW vs. UAW� to fully understand what it stands for and to compare the difference, please buy this book or audio set on ebay or amazon.com.
They talk about the lifestyle and how it even will affect the children when they grow up. � They do point out how the real wealthy focus on money management, goals and money activities often, while the others just appear to be wealthy and are hyper consumers.� Financial Independence over Social Status.� The wealthy own companies and live in average neighborhoods, and drive normal cars.� Much of the money is reinvested into their companies.� They have formulas that they think you should be worth based on annual salary and age.� The tape set talks a lot about those who you think appear rich (big hat no cattle) but they are in reality just ultra consumers, make money to spend money.� This is a good tape set, and I would recommend the book and audio cassette.
�
www.RonOrr.com
������ I am listening to the 2 tape set The Millionaire Next Door read by Cotter Smith with the authors of Thomas J. Stanley, Ph. D. and William D. Danko, Ph. D.� What's interesting from their many years of research is they found that most millionaires and decamillionares live very frugally.� They are frugal about most things in life.� They find that those that spend a lot of money to try to look wealthy, often are not, they think the media skews this wrong.�� What you here in this tape set may surprise you. You may not realize that such wealthy people live so far below their means.� I believe the message they are trying to get out, is they are wealthy because they are frugal, not that they are wealthy then decide to be frugal.� These are based on mostly first generation wealth.� They say the spouse is even more frugal in most cases.
They have a good example that they give on Dr. North and Dr. South comparing both doctors that make a lot of money, and how one spends a lot of money and how is very frugal, and how they end up in different spots in life.� It talks about the different habits each has in each of their lives.� They refer to tracking spending, and what you spent on each type of expenditure, or to get an accountant to do this.� They compare PAW vs. UAW� to fully understand what it stands for and to compare the difference, please buy this book or audio set on ebay or amazon.com.
They talk about the lifestyle and how it even will affect the children when they grow up. � They do point out how the real wealthy focus on money management, goals and money activities often, while the others just appear to be wealthy and are hyper consumers.� Financial Independence over Social Status.� The wealthy own companies and live in average neighborhoods, and drive normal cars.� Much of the money is reinvested into their companies.� They have formulas that they think you should be worth based on annual salary and age.� The tape set talks a lot about those who you think appear rich (big hat no cattle) but they are in reality just ultra consumers, make money to spend money.� This is a good tape set, and I would recommend the book and audio cassette.
�
www.RonOrr.com
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