<ol><li>Does your household operate on an annual budget?</li><li>Do you know how much your family spend each year on food, clothing, and shelter?</li><li>Do you have a clearly defined set of daily, weekly, monthly, annual, and lifetime goals?</li><li>Do you spend a lot of time planning your financial future?</li></ol> all four questions should be "yes"

Ask Yourself 

<ul><li>75 years old male, married with 3 children. 70% of us earn 80% or more of our household's income </li><li>About 20% is retired. 66% who are working are self employed.</li><li>Self employed people make up less than 20% of workers in America but account for 66% of millionaire</li><li>75% self employed consider themselves entrepreneurs</li><li>Business we are in could be classified dullnormal. (Welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors)</li><li>About 50% wives don't work outside home. Most wives who do work are teacher</li></ul>

Portrait Of A Millionaire 

<ul><li>20% are not college graduates</li><li>18% have master's degree</li><li>6% Ph.D</li><li>8% law degree</li><li>6% medical degree </li></ul>

<ul><li>17% of us or our spouses attended private school but 55% of our children currently attending one</li><li>66% works between 45-55 hours per week</li><li>Invested nearly 20% household realized income yearly</li><li>79% have at least one account with brokerage company but make our own investment decisions</li><li>20% household's wealth in transaction securities such as publicly traded stocks and mutual funds</li><li>21% household's wealth is in private business</li><li>Recommended accounting and law to our children </li></ul>

<ul><li>Taxable income is $131,000, while average income is $247,000.</li><li>Note that those who have incomes in $500,000 to $999,999 (8%) and more than $1 mil (5%) skew average upward</li><li>Average household net worth $3.7 mil</li><li>6% have over $10 mil which skew average upward</li><li>Typical millionaire household has a net worth of $1.6 mil.</li><li>We live in less than 7% of our wealth</li><li>97% are homeowners. Live in home value average $320,000. 50% occupied same home more than 20years</li><li>80% are first generation affluent </li></ul>

<ul><li>Most wealthy household have a MasterCard and Visa</li><li>Millionaire household is 4 times more likely to hold a Sears card (43%) than a Brooks Brothers card (10%)</li><li>Both Sears and Penney's cards are significantly more popular among the wealthy than the cards if status retailers</li><li>21% holds Neiman Marcus</li><li>25% Saks fifth avenue</li><li>25% Lord & Taylor</li><li>8.1% Wddie Bauer</li><li>6.2% American Express Platinum card</li><li>3.4% Diners Club</li><li>0.9% Carte Blanche</li></ul>

Millionaire On Credit Card 

"Why aren't I as wealthy as I should be?" Many people ask this question of themselves all the time. Often they are hard-working, well educated middle- to high-income people. Why, then, are so few affluent. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a new foreword for the twenty-first century by Dr. Thomas J. Stanley. According to the authors, most people have it all wrong about how you become wealthy in America. Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence. The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their family's wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people. In fact, you will learn that the flashy millionaires glamorized in the media represent only a tiny minority of America's rich. Most of the truly wealthy in this country don't live in Beverly Hills or on Park Avenue-they live next door.

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