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In fairness the bulk of The Millionaire Next Door subjects owned their own business and could often pull in salaries of $500K+ per year.
by reboog711 9y ago
In fairness the bulk of The Millionaire Next Door subjects owned their own business and could often pull in salaries of $500K+ per year.
- jacquesm 9y agoYes, owning your own business can be a good way to end up 'middle class' or 'comfortably poor'. But it works and that's good enough for me, and I never paid myself $500K per year either. And still had my first property paid off 20 years ahead of schedule. Things that helped: - ability to save - driving cheap cars (my current daily driver is 20 years old) - very little debt (usually only to finance the next property) - buying quality stuff and what I need - living in a country where healthcare can't bankrupt you - with free education (though that is changing now) - making reasonably good money because of my chosen profession None of the above would matter much if I would work as a store clerk or something like that, that's a much harder situation to get out of.