The Seven Common Characteristics of Great Wealth-Builders

The Seven Common Characteristics of Great Wealth-Builders

That's where Dr. Thomas Stanley comes in.

As America's foremost authority on the affluent, he's conducted decades of research on the habits and characteristics of America's wealthy.

He's written several bestsellers including, Marketing to the Affluent and The Millionaire Next Door: The Surprising Secrets of America's Wealth.

Dr. Stanley points out that the vast majority of millionaires do not have exceptional skills. Most of them do not have hit records. They do not play third base for the Yankees. They did not found a software company in their garage. Instead, they're people who have worked and saved and invested their money prudently.

In The Millionaire Next Door, Stanley details seven common denominators among those who build wealth successfully:

• They live well below their means.
• They allocate their time, energy, and money efficiently, in ways conducive to building wealth.
• They believe that financial independence is more important than displaying high social status.
• Their parents did not provide economic outpatient care.
• Their adult children are economically self-sufficient.
• They are proficient in targeting market opportunities.
• They chose the right occupation.