Tuesday, June 30, 2015

What You Might Consider Being Wealthy Might Be Wrong...According to the Wealthy

"You may ask: How can someone be considered wealthy if, for example, he is worth only $460,000? 

After all, he's not a millionaire. 

Charles Bobbins is a forty-one-year-old fireman. 

His wife is a secretary. 

They have a combined annual income of $55,000. 

According to our research findings, Mr. Bobbins should have a net worth of approximately $225,500. 

But he is worth much more than others in his income/age category. 

Mr. and Mrs. Bobbins have been able to accumulate an above-average amount of net worth. 

Thus, they apparently know how to live on a fireman's and secretary's income and still save and invest a good bit. 

They likely have a low-consumption lifestyle. 

And given this lifestyle, Mr. Bobbins could sustain himself and his family for ten years without working. 

Within their income and age categories, the Bobbinses are wealthy."

Just scanning through "The Millionaire Next Door" and... wow...

How it defines wealthy is not what the media sells to us but what it shuns.

Much like the definition above.

I will get you an affiliated link for the book just in case you want to buy a copy for yourself via Amazon.com.

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