Book: 20210420 to 20210504, "The Millionaire Next Door" by Tom Stanley and William Danko
20210420 - 1. Meet the millionaire next door When the book was published in 1996, "the millionaire" was defined as the one/family own between one million to ten million USD. If the annual growth rate is 5%, convert to AUD today(2021), it's around 5 million to 50 million AUD. Most of the millionaires hide in crowd. We will learn, for most of the people, how to become a millionaire. It may take many years, but it's possible. If 10% of England people migrated to America, but only 0.01% of Russian migrated to America, it's safe to assume that those Russian were more aggressive and willing to pay more to live better than those England people. But after a few generations, their heirs should all adapted to the environment, and are all similar. Then it's more about the new first generation immigrants. 20210422 - 2. Frugal, frugal, frugal Frugal is the first common characters most of the millionaires share. No matter the first generation or their heirs, if they want t