Here is an extraction from a review of The Millionaire Next Door. The writer [Mr. M] clearly understands the benefits of being wealthy.
“What’s the point of
becoming a millionaire if you have to live within your means,
if you can’t live lavishly?” Here’s my answer:
When food and gasoline prices spike, we don’t have to figure
out what to cut out of the budget to make it through the next
We recently pulled $10,000 out of savings to pay for an
optional medical procedure. The money was repaid to the bank
account in six weeks.
Our wealth increased between 2008 and 2012 when most
Americans saw their net worth decline.
We recently borrowed $200,000 to buy a new rental property;
the loan was paid off in 3.2 years.
When people are being laid off and businesses are going
bankrupt because of a recession, we don’t worry. We know we
can weather the storm.
When a major appliance breaks, we just write a check and buy
a new one. There’s no crisis.
We NEVER worry that we won’t have enough money to pay for
This is not how middle-class families typically live. But
this is how middle-class MILLIONAIRE famlies can live. It may
not be lavish, but it’s pretty nice.