download the millionaire next door audiobook

In football terms, they play both great offense and great defense. Their watchwords are hard work, discipline, frugality, and smart investment. Many millionaires don’t stand out in their neighborhoods. The typical millionaire’s frugal lifestyle could be described as nondescript middle class. He lives above his means, spending significantly more than Richards to maintain the lifestyle/status associated with attorneys. HiIs expected net worth is $470,000, but it’s actually $226,511. Under-accumulator (UAW): Davidson, 51, is an attorney with an income of $92,330.He lives a modest, blue-collar lifestyle. His net worth should be $451,000, but it’s actually $1.1 million. Prodigious accumulator (PAW): Richards, 50, owns a mobile home dealership and his income is $90,200.Here’s an example of each (both people are in the same income/age category):

If you’re at half or less than the expected level for your category, you’re an under-accumulator. Often, prodigious accumulators have four times the wealth of under-accumulators in their category.

To be solidly in the prodigious accumulator category, you should be worth two times your expected level of wealth.

If you are in the bottom quartile (25%), consider yourself a UAW, or “under-accumulator of wealth.”.

If you’re in the top quartile (25%) for wealth accumulation in your category, you’re a PAW or “prodigious accumulator of wealth.”.

Download the millionaire next door audiobook