Studying the Wealthy
In the introduction to The Millionaire Next Door, a question is asked in the voice of the reader:
How come I am not wealthy?
The authors state:
Many people ask this question of themselves all the time. Often they are hard-working, well-educated, high-income people. Why, then, are so few affluent?
As I am rereading The Millionaire Next Door, as many of you are, I’m reminded of the reason the work of defining wealth in America, of analyzing behaviors that lead to financial independence, was and is so important: many continue to ask this question and haven’t yet found their answer. Thankfully, one path to wealth accumulation, the one taken by the millionaire-next-door types, has been documented quite clearly:
They did it slowly, steadily, without signing a multimillion-dollar contract with the Yankees, without winning the lottery, without becoming the next Mick Jagger.
A similar process applies to many of life’s challenges: learning a new skill, getting or staying in shape, raising children, starting a new business: achieving a tough goal, including becoming financially independent, is a journey that takes disciplined action over time.