Meet the Millionaire Next Door
"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.