The Millionaire Mind

Do you have the Millionaire Mind?

This is the question on the back cover of Dr. Thomas J. Stanley's book, sequel to The Millionaire Next Door. The really funny thing is that the answer turns out to be: well, of course you do. The really major factors in determining whether a particular person will become truly affluent, according to his research, are:

1. Hard work, integrity, focus

2. Don't worry too much about your academic scores; they reveal less than you think and most people expect. Using the mind you have is far more important than being some kind of innate analytical genius.

3. Courage

4. Vocation. If you love your work, your work will love you.

5. A good spouse. Most non-economically successful men indicate that "attractiveness" is the most important quality they seek in a potential mate. But the qualties that really make a good long-term partner have nothing to do with physical attractiveness. Oh, that's not to say that you should seek for an unattractive wife, but find a pretty lady that has numerous other good qualities as well.

For women: it doesn't matter if your husband is wealthy or has a high income (the two factors rated as most important by non-successful women). One of the best indicators of future value to you (among more ordinary things like affection, supportiveness, steadyness), is that he is ambitious.

*cough* Pardon my digression, there, I get tired of beating people over the head about that. Anyway, back to the list . . .

6. Frugality! Live below your means! Invest, and not just in the stock market, invest in your life.

7. Take great care in purchasing a home: it's probably the most expensive thing you'll ever buy, and real estate can make or break your fortune.

8. Balance. Not only do you not have to work 80 hours a week and get up at 4am (unless you really like it, that is), you don't have to keep up with the Jones's by getting a $2.5 million house with eight bedrooms and four Jacuzzi's.

Definitely a book worth reading, although I took mild exception to his bizarre ideas that integrity is genetic(?) and God helps people run businesses. While belief in God might have psychological benefits, I really doubt that the Lord made Chick-fil-a more successful because it observes the Sabbath.

Oh well. Just ignore those bits.