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The millionaire mind

KSh 750

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Who is the average millionaire? Does he eat gourmet or fast food? Does he drive fancy cars, take chic vacations, and indulge wherever and whenever he can? Or does he resole his shoes, turn off the air conditioning when he leaves the house, and spend a lot of time at home with close friends and family? Through his surveys of over 1,000 millionaires, Thomas J. Stanley, Ph.D., answers these questions and provides us with further insight into the thoughts and lives of this wealthy segment of the population in The Millionaire Mind.

A follow-up to Stanley's New York Times bestseller, The Millionaire Next Door, The Millionaire Mind may surprise readers with its findings about the kinds of people that millionaires really are. Interestingly, many millionaires were not straight-A students in high school, nor did they attend prestigious colleges. Instead, they were often told when they were younger that they were not bright and that they would not be successful. These challenges taught them how to surmount obstacles and motivated them to try harder and to take risks to get ahead financially.

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1. Becoming a millionaire is not just about income level, but also about having a frugal mindset and living below your means.

2. The majority of millionaires are self-made individuals who have worked hard, taken risks, and consistently saved and invested their money over time.

3. Millionaires prioritize financial independence and have a strong focus on building wealth through entrepreneurship, self-employment, and investing in income-producing assets.

Becoming a millionaire is not just about income level, but also about having a frugal mindset and living below your means. - Chapter 2

Stanley's research reinforces the idea that becoming a millionaire requires more than just earning a high income. It involves making conscious decisions to live below one's means and prioritize saving and investing. The book goes on to highlight several key strategies and mindsets that millionaires possess when it comes to managing their money.