Tom Stanley and William D. Danko spent more than 20 years interviewing thousands of millionaires concerning their lifestyle habits and wrote the book titled, “The Millionaire Next Door”. They dispelled the myth that the typical millionaire drives a Rolls-Royce automobile, lives in a multi-million dollar mansion, owns a Rolex watch, and wears tailor made suits.
How many clients do you have who fit most or all of the profile they created (below)?
Have you considered that these clients may be your best centers of influence and that you could build a career and an amazing business working with them and the people they know who are just like them?
It can happen if they believe in who you are…not just what you do.
Profile of The Millionaire Next Door
The typical millionaire is more likely to drive a second-hand General Motors car, live in a house with an average property value of $320,000, wear a watch costing less than $100, and buy their suits off the rack for between $200-$300—the suit was probably on sale.
The single biggest characteristic typical millionaires exhibit is living within their means. They are prodigious savers, not prodigious spenders. The typical millionaire is frugal and saves or invests much of their income.
On average, the typical millionaire saves and invests 20 percent of their income, versus the average American savings of less than five percent. They are debt-free and have no mortgage or automobile notes.
Most millionaires did not win the lottery, win money on a TV game show, or picked the next Microsoft on the stock market. Many are self-employed in small businesses working in “dull-normal” areas like pest control, paving contract work, or welding. Most millionaires work 45 to 55 hours per week.
Most marry once and are still married. Most typical millionaires did not score well on their SATs for college and were not voted most likely to succeed while in high school. Most millionaires are self-made, receiving no inheritance and little financial aid from relatives.
The typical millionaire does spend generously on services that can help them plan their finances better like estate planners, accountants, and lawyers who specialize in guarding property and wealth.
They invest in education. They typically have a broker, but they make their own investment decisions. The typical millionaire achieved their results over time through discipline, hard work, and focus on their goals. The typical millionaire lives in a neighborhood where 75 percent of the residents are non-millionaires. They generally do not stand out.
(Edited from CBN.com post)
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