The Millionaire Next Door (Millionaire Set Book 2)

by Thomas J. Stanley

Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.

They live well below their means. They allocate their time, energy, and money efficiently, in ways conducive to building wealth. They believe that financial independence is more important than displaying high social status. Their parents did not provide economic outpatient care. Their adult children are economically self-sufficient. They are proficient in targeting market opportunities. They chose the right occupation.

Big Hat No Cattle

Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.

The million-dollar investor program was created by Congress in 1990. It allows foreign nationals to attain permanent U.S. residency if they invest $1 million in a U.S. business, provided that investment creates ten jobs (John R. Emshwiller, “Fraud Plagues U.S. Programs That Swap Visas for Investments,” The Wall Street Journal, April 11, 1996, p. B1).