Quotes About Wealth

After twenty years of studying millionaires across a wide spectrum of industries, we have concluded that the character of the business owner is more important in predicting his level of wealth than the classification of his business.

In our most recent national survey of millionaires, we asked the respondents to designate their country of origin/ancestry/ethnic origin. The results may surprise you. TABLE

An increase in cash flow generally translates into significant increases in consumption. Is it any wonder that only a small portion of Americans are financially independent?

When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience.

FEARS AND WORRIES                                  What do you spend time worrying about? Are your concerns congruent with wealth accumulation? Or do you spend time thinking about issues that are impediments to becoming affluent?

We looked at each other; one said: "These people are not into status; they buy automobiles by the pound!

What do you spend time worrying about? Are your concerns congruent with wealth accumulation? Or do you spend time thinking about issues that are impediments to becoming affluent?

Being frugal is the cornerstone of wealth-building

Most millionaires, for example, are not intellectually gifted in an analytical sense. They did not receive all As in school, nor were they in the 1400-and-above SAT club. That's why they decided not to compete in macho dogfight environments where superior analytical intelligence is a requirement to succeed.

When an aspirational looks at a Mercedes Millionaire, he only sees what is on display. He focuses on the leaves of the oak tree, not its roots. But the values and work habits of millionaires, like the roots of the oak, are what support their lifestyles (the leaves), not the other way around. Who should the aspirational seek to emulate instead? The Toyota Millionaire. This advice may be painful for some hyperspenders.

being well educated has certain economic drawbacks. Victor's

Begin earning and investing early in your adult life. That will enable you to outpace the wealth accumulation levels of even the so-called gifted kids from your high school class. Remember, wealth is blind. It cares not if its patrons are well educated. So the authors have an excuse. How else does one explain why two experts on wealth are not wealthy? In part, because they spent a combined total of nearly twenty years pursuing higher education!

Most wealthy people have a wide variety of interests and activities. In fact, there is a substantial correlation between the number of interests and activities that people are involved in and their level of financial wealth.

Most people who become millionaires have confidence in their own abilities. They do not spend time worrying about whether or not their parents were wealthy. They do not believe that one must be born wealthy. Conversely, people of modest backgrounds who believe that only the wealthy produce millionaires are predetermined to remain non-affluent.

Have you ever noticed those people whom you see jogging day after day? They are the ones who seem not to need to jog. But that's why they are fit. Those who are wealthy work at staying financially fit. But those who are not financially fit do little to change their status. Most

How do you become wealthy? Here, too, most people have it wrong. It is seldom luck or inheritance or advanced degrees or even intelligence that enables people to amass fortunes. Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.

Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods. That

In general, the longer the average member of an ancestry group has been in America, the more likely he or she will become fully socialized to our high-consumption lifestyle. There is another reason. First-generation Americans tend to be self-employed. Self-employment is a major positive correlate of wealth. TABLE

To accumulate wealth and hold on to it, one needs to know how to select the right investments and reject the losers; how to research and evaluate various investment opportunities; and how to judge the skills and integrity of those who position themselves as professional investment experts.

Victor's well-educated adult children have learned that a high level of consumption is expected of people who spend many years in college and professional schools. Today his children are under accumulators of wealth. They are the opposite of their father, the blue-collar, successful business owner. His children have become Americanized. They are part of the high-consuming, employment-postponing generation. How

The median price paid by millionaires for their most recent acquisition was only $31,367.

The median price paid by millionaires for their most recent acquisition was only $31,367. The typical price paid by decamillionaires was $41,997, nowhere near the $75,000 figure it is assumed that rich people spend on cars.

Wealth is what you accumulate, not what you spend. How

There is a reason why the top 1 percent of the income producers in America pays 37 percent of the entire federal income tax bill, why the top 5 percent pays 57 percent, the top 10 percent pay 68 percent, and the top 25 percent pay 85 percent. High-income producers are the only ones who earn enough money to do so! The bottom 50 percent of the income producers contributes less than 4 percent of the total tax bill.