2 ms·
If there was one takeaway I was surpised by from "The Millionaire Next Door" it was, to paraphrase, high income professions like Law and Medicine tend to spend
by 6stringmerc 11y ago
If there was one takeaway I was surpised by from "The Millionaire Next Door" it was, to paraphrase, high income professions like Law and Medicine tend to spend at very high rates, frequently invest poorly, and rarely accumulate a significant amount of wealth as a ratio to their income. The greatest wealth building households were two income, upper-middle class, with good, conservative savings habits. At the time of publication I think it was more valid than today, re: the change in distribution of wealth in the US over time.