Tuesday, August 25, 2009

Quiet Millionaires

Mom and Joy are back in Michigan...a thunderstorm gave their ride home a gut-thumping thrill or two, and provided some needed rain here. Another is on the way...

J.D. Roth of Get Rich Slowly has a book review today on Brett Wilder's book THE QUIET MILLIONAIRE, advocating the merits of saving money by economizing, slowly and surely. He also has reminders about some of his previous posts in a similar vein, including this one on Jane Buri, a social worker that squirrelled away millions! (A video on Jane is here.)She drove an old car, dressed herself in long-wearing classics, and watched an ancient television. She also traveled whenever she wanted, including Europe, and gave generously to the charities she believed in. According to J.D., she saved because it didn't occur to her to spend more.
An interesting thought.

Other posts include one on a reader's "mathmobile" neighbor, 'John,' J.D.'s millionaire next door, and of course, those terrific reader comments. You'll learn a lot about deliberate frugality that way. 'John's' secret to wealth, for example? "The real secret is to spend less than you earn. I don’t care how much you earn, you spend less than you earn.”

One of my great favorites in this area is THE MILLIONAIRE NEXT DOOR, a matter-of-fact look at what could only be called "middle class millionaires:" people with bucks that don't really show it. Over and over again, they have the same habits --
*save up and buy quality, so it lasts for decades
*keep clothing and accessory purchases to a useful minimum (again, buy for classic longevity)
*buy your home -- and keep it forever
*buy your car the same way

Most of all, they save on the necessities of life -- so they can afford a luxury or two!

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