Simply multiply your age by pre-tax income from all sources except an inheritance. Then divide by 10. This is what your wealth should be. Stanley and Danko found that many were not interested in a lifestyle of consumption and high-status items. They are also goal-oriented, maximize tax breaks, and have relatively low expenses for housing.
Many millionaires also buy used cars.
They also believe in reciprocity with other business owners and try to teach their children to adopt a frugal lifestyle by limiting large cash gifts or asset transfers. Based on their research, they summarized the secrets of millionaires' success into 8 rules. The rules include lifestyle decisions as well as financial ones and will be discussed one by one. Successful people generally have a positive attitude and take action to reach their goals. Most millionaires are goal-oriented and organize their lives with the future in mind.