Stop Acting Rich
I recently read a book by Thomas J Stanley, PhD entitled “Stop Acting Rich… And Start Living Like a Real Millionaire“. The relevance of the inforamtion in this book to a financial web site is that so many people seem to want to live beyond their own means. Dr. Stanley purports that in general people have an odd understanding of how one lives when one is a millionaire. Here are some facts gleaned from the book that I thought were interesting. These facts are based upon research conducted by Dr. Stanley.
403,211: Number of millionaires who live in homes valued at $1MM or more.
1,138,070: Number of millionaires who live in homes valued at $300,000 or less.
90% of all millionaires live in homes valued at $1MM or less.
67,000: The approximate number of millionaires who live in mobile homes.
41%: This is the percentage of homes with a value of $1MM or more that are owned by people earning $200,000 or more annually. That means the other 59% of homes valued at $1MM or more are owned by people who are fortunate enough not to have to work but more likely owned by people who earn less than $200,000 a year.
27%: The percentage of homes valued at $1MM or more that are actually owned by people who are liquid with $1MM or more.
Just some facts to consider as you set your goals for 2010.
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