Thursday, February 11, 2010

Meet the Millionaire Next Door

Today, I will be discussing the Meet the Millionaire Next Door chapter of The Millionaire Next Door.

Meet the Millionaire Next Door

Quotes:

"We have a go-to hell fund. In other words, we have accumulated enough wealth to live without working for ten or more years." page 10

Take Home Points:

PAW- prodigious accumulator of wealth

UAW- under accumulator of wealth

You want to be a PAW because PAWs are the best at building net worth compared to others in their income/age category.

Most of America's millionaires are first-generation rich.

Education is very important

So my take away from this is that I want to be a PAW and create an emergency fund that I could live off for multiple years.

Best wishes,

Janie

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