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We did it – 2013

By Thomas J. Stanley on Jan 1st, 1970 in Millionaire Next Door Stories

In 1990 I had a modest income, mortgage, car payment, one
preschooler and one starting college. I had just lost my job
and had no savings left. I changed my career to an independent
contractor from a direct position, and worked on average 12
hours a day. My first year produced enough income to pay the
same in taxes as my gross income had been the previous year. I
was given a copy of your book, “the Millionaire Next Door”
which I read with zeal. Having seen first hand what living
payday to payday was like and having been raised by depression
era parents; I saved every penny of my new found income I
could. I paid off debts, saved in banks, setup stock trading
accounts, IRA’s and 401K’s, and continued to live at the same
level I had before. After some years, my wife and I raised our
standard of living “slightly” while watching our friends
continue to splurge. Several times since I have experienced job
losses (it is inherent to my line of work) yet each time we
were well equipped to survive (even with the economic crash in
2008). I made my last car payment in 1991, and my last house
payment in 1997. We are debt free, and I am able to retire at
62 (although financially I could have at 55). We have a 1400
square foot house (too big for our needs) a seven year old SUV
and a 12 year old PU. We own a modest lake cabin (700 sq.
ft.)which we will likely retire to when we finish improving it.
I recently downloaded the Kindle version (2014) of your book to
re-read it, and compare my progress. I am happy to say that as
of last summer (2013) we made it, and became millionaires.
Along with my frugal wife and wise parents – I thank you for
your book and advise.

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