Finished reading Tom Stanley's book, Stop Acting Rich. The book was excellent and Dr. Stanley's conclusions were based on a ton of research. Obviously, anyone who has read his other works, already knew the conclusions that would be drawn.
- Most millionaires live well below there means.
- Discipline is essential to building wealth.
- Hyper-spending is diametrically opposed to building wealth, even when you can afford it.
- Millionaires tend to be happy by living below their means and not spending on trendy items.
- People who purchase luxury items, e.g. Mercedes, Grey Goose vodka, expensive homes, are more interested in having the "Badge" of being considered rich than actually building wealth.
- Products that cost a lot of money don't necessarily translate into quality or lasting value.
1 John 2:15-16 15Do not love the world nor the things in the world. If anyone loves the world, the love of the Father is not in him. 16For all that is in the world, the lust of the flesh and the lust of the eyes and the boastful pride of life, is not from the Father, but is from the world.
My conclusion is that living simply and within your means will more likely bring happiness than putting on the badge of wealth. I look forward to building wealth with the intent 'changing my family tree' and giving to those in need.
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