The Millionaire Next Door

Lessons Learned

Fantasies of Wealth; Misinterpreting the Data

A couple recently asked me about the relationship between home ownership and net worth. They are contemplating buying their first home.  “In your books, Tom, you mention that nearly all millionaires are homeowners . . . approximately 95%.”  Most homeowners, however, are not millionaires.  And no one is going to hand you a check for seven figures when you close …

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Pastor and His Wife, A Teacher, on Building Character and Wealth

My wife (public school teacher) and I (pastor) have become millionaires (yes, without even figuring equity in our home) in our mid-late 40s while being salaried workers and with her taking nine years off from teaching/salary to stay at home with kids. We’ve had no inheritance or windfall. Moreover, we have consistently given about 20% …

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Billionaire’s Big Donation Receives Little Press

Imagine that you worked hard, took much risk and became financially successful, very, very successful.  You employ thousands upon thousands of people.  You even give considerable portions of your wealth to noble causes.  Earlier this year, Paul Allen, co-founder of Microsoft, designated a gift of $300 million to The Institute of Brain Science.  The money was …

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