If you haven’t read the book, Stop Acting Rich: … And Start Living Like a Real Millionaire (2009), by the late Thomas J. Stanley, you should find it at your library and devour it. You remember the author’s best-selling book, The Millionaire Next Door (1996), where all the stereotypes of millionaires were debunked.
The reality is, real millionaires rarely “look” like a million bucks. Instead, they are the people who quietly live a modest lifestyle, in a reasonably-sized home with dependable cars they’ve had for years and wear clothes that didn’t cost a fortune.
In Stop Acting Rich, Dr. Stanley asks the threshold question: Do you want to look rich, or be rich?
Throughout his study of real millionaires, Dr. Stanley found some common themes. The real rich didn’t spend a lot of money on “things.” But folks who aspired to be wealthy someday paid more for expensive cars, designer clothes, fancy watches, and so on.
It is a good idea to sit back and look at your expenses. How do you spend your money? Are you trying to appear wealthy? Are you hoping others will see your car, home, watch, suit, haircut, and other whatnots and think that you have it all and thensome? Are you living below your means or stretching beyond your income in order to look a certain part?
Let’s give up these desires to be something and actually commit to building wealth.
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