Chapter 17. Tilting Toward Success: A Step-by-Step Guide to Above-Average Asset Allocation

In The Millionaire Next Door, a bestseller from a few years back, authors Thomas Stanley and William Danko attempt to uncover just what makes the modern millionaire tick.[1] Drawing from an exhaustive survey of more than 1,000 millionaires, the authors conclude that most in the seven-figure crowd work hard, are frugal, plan their every move, and are unpretentious in their consumption. On this last point, it seems that a good many millionaires don’t drive fancy cars, or dine very often at five-star restaurants, or live in mansions. They’re rich, it turns out, because they don’t spend their money conspicuously. They are savers—and, importantly, they are investors. ...

Get Cocktail Economics: Discovering Investment Truths from Everyday Conversations now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.