Not what you might think...

I have been reading, with great delight, a book called, "The Millionaire Next Door." It is fascinating the information this book contains.

When you think of the affluent, what is it about their lifestyle that stands out most?

Is it their high consumption of possessions? In other words, do you think that Millionaires live in big fancy houses, drive luxury cars, wear expensive suits and Rolex watches?

If you watch television or any Hollywood production film these days, you probably think that rich people live an extravagant lifestyle.

Interestingly enough, ask anyone, that is not affluent, what they would do if they were given $10 million dollars. The majority would immediately start listing off material possessions they would buy.

"I would buy a new house, no, 2 or 3. Of course I would get rid of my piece of crap Honda and buy a couple of Ferrari's. For sure I would tell my dead beat boss where he could go! Buy new clothes, shoes, big screen tvs, oh yeah nothing but the best! Probably give some money to my family, especially my mom and dad........" These are some of the typical answers you might hear.

Well, guess what? That is not at all the way the majority of Millionaires think, nor live. The "bling bling" lifestyle you might imagine is a trap that most Americans fall into. They believe that being rich means having nice things. The more you have, the bigger your house, the nicer the cars illustrates success.

That image couldn't be further from the truth.

The "bling bling" lifestyle can be better summarized as the "keeping up with Joneses" lifestyle. It is the high income middle classers, who have been programmed to believe, that is success. "I am a lawyer, I must live in a nice home and drive expensive cars in order to give off the image that I am good at what I do."

Now I am not picking on any particular class or profession, however, this book has really opened my eyes. When I was 21, I also had that "keeping up with the joneses" lifestyle. I thought the new cars, nice clothes, flashy jewelry was a genuine sign of success. You know what, that is how everyone, who made less money than I did, also thought.

Because I had 3 new vehicles, new work trucks, nice property, DEBT UP TO MY EYEBALLS, I appeared to be successful. "You can't hide money'" they would say.

What if the average self made Millionaire drove around in a pick-up truck, lived in an average middle class neighborhood, and owned a small plumbing business? What if he didn't have any "bling bling" and would never spend more than $100 on a pair of shoes, or $399 for a suit?

The truth is, most Millionaires are not what you might think they are. Accumulating wealth is not what you might think it is. Have you ever learned the difference of "Realized" versus, "Unrealized" income? How can someone making $84,000/yr have a net worth 10 times more than someone who earns $330,000/yr?

Think on that for a while, more in another post.

Be blessed!
Ron - TheUnaverageAverage

P.S. "Empty your purse to fill your mind, and your mind will fill your purse." - Benjamin Franklin