A recipe for wealth

Thomas J. Stanley and William D. Danko in their book “The Millionaire Next Door” have this to say and I quote:

“Most people have it all wrong about wealth in America. Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”

“How do you become wealthy? Here, too, most people have it wrong. It is seldom luck or inheritance, or advanced degrees or even intelligence that enables people to amass fortunes. Wealth is more the result of a lifestyle of hard work, perseverance, planning and most of all, self-discipline.”

The above says it all, doesn’t it? And who says wealth cannot be earned? Until recently, executive pay and bonuses in America were out of this world!

If that happens in America, it can also happen anywhere else in the world.

To become rich, it seems that one has to be stingy with money, that’s the first rule. Indeed, I think the rich of today wouldn’t have gotten where they are if they had not been careful on how they use or manage their money.

Indeed, it has been said, “A penny saved is a penny gained.” And there is an old proverb which says, “A fool and his money are easily parted.” Isn’t that true, even today?

The second rule which is hard work, perseverance, planning and self-discipline are too much of a bother to many; and probably that’s why so few of us in the world are really rich today.

We shun hard work and planning; have no self-discipline and cannot persevere, don’t we?

I see a new generation now that wants to get rich quick but is not prepared to put in the kind of work and sacrifices that our fathers and fore-fathers had done.

It’s about time somebody comes out to say this. There are no short-cuts to success or to riches either. Money just doesn’t grow on trees!

If you want money, you’ll have to work hard for it and when you have it the advice is, do not squander it.

Invest your money wisely and you’ll see it grow, then you’ll be rich. It’s as simple as that. Try it but just don’t be disappointed if you don’t get there.

Now, is there anyone out there who doesn’t want to be rich?

Cheers!

Thanks to "guru006" for giving us this music-video, taken from the movie "Fiddler on the roof". Sit back, relax and enjoy.