Thrive - Treasure The Millionaire Next Door by Thomas Stanley and William Danko

A Profile of a Millionaire Next Door 57 years old, married with three children – 70% earn 80% of household income. 1 in 5 are retired Two-thirds of workers are self-employed entrepreneurs, the others are self-employed professionals – Doctors and accountants Many of the businesses are “dull-normal”. (Welding contractors, auctioneers, rice farmers, owners of mobile home parks, pest controllers, coin and stamp dealers and paving contractors.) About half of our wives do not work outside the home. The number one occupation for those who work is teacher. Median taxable household income is $131,000

17 % never attended a private elementary or high school 17 % never attended a private elementary or high school. 55% of children currently attend or have attended a private school. They believe in education and spend heavily for children’s education. Two-thirds work between forty-five and fifty-five hours per week. Fastidious investors – 15%-20% of income each year. 79% have at least one account with a brokerage firm, but make their own decisions. 20% of wealth is in traded stocks and mutual funds which they rarely sell They hold even more in pensions -21% is in their business. They encourage their children to go into law and accounting. These are the professions of the future. All are tightwads and are very selective as to their gifts to charities.

The median net worth is $1.6 million. The annual realized income is less than 7% of wealth (they live on 7% of their wealth). 97% are home owners – Average value $320,000 – half have occupied the same house for 20 years. 80% are first generation affluent They live well below their means. Minority drive a current year automobile; Few lease a car Most wives are planners and meticulous budgeters – Wives are much more conservative with money than the men. They have a “Go-to-hell fund” – They have accumulated enough wealth to go for ten years without working. They have six and one-half the level of wealth in their neighborhood - No status acquiring material possessions. Well educated: one in five are not college educated. Many have advanced degrees (18% have masters, 8% have law degrees, 6% medical and 6% Ph.D.s)

Matthew 6:19-21 19 "Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. 20 But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal.21 For where your treasure is, there your heart will be also.

The Formula for Success Give 10% Save 10% Live on the rest

Treasure Principles God owns everything My heart always goes where I put my money Heaven, not earth is my home.

“I should live not for the dot, but for the line.” Life on earth The line: Life in heaven

What the rich have said. The care of $200 million is enough to kill anyone. There is no pleasure in it.” – W. H Vanderbilt “I am the most miserable man on the earth.” - John Jacob Astor “I have made many millions, but they have brought me no happiness.” - John D. Rockefeller

More Statements “Millionaires seldom smile.” - Andrew Carnegie “I was happier when I was doing a mechanic’s job.” – Henry Ford

Treasure Principles Giving is the only antidote for materialism. God prospers me not to raise my standard of living but to raise my standard of giving.