The Millionaire Next Door
My teenage daughter recently told me that her boyfriend said his dad was “crazy rich” and that’s why he drives an expensive car, buys expensive watches, lives in an expensive part of town, a lot of high end status symbols.
That’s when I dusted off my old book The Millionaire Next Door, which I read almost 30 years ago, and talked to her about the concept of “wealth is what you don’t see” or what people like to call quiet rich.
The book’s central premise is that many wealthy people live surprisingly well below their means. They don’t drive expensive cars, the live in an ordinary neighborhood, and they spend way less than they make. Instead of being a “high income spender”, be a disciplined saver and build your net worth over decades. Real wealth comes from having the freedom to have control over your time and choices.
My husband’s parents are a perfect example of this, both retired elementary school teachers with millions in investment savings. They still went on fun family trips, went out to the theatre, lived a good life, but saved whenever they could and they still clip coupons even now in their 80s 😂.
I hope my 16 year old learns this sooner than later. It’s such an amazing feeling to have this kind of freedom now in my 50s. I drive a 2013 Honda Fit with pride, I live in a relatively inexpensive town, in a modest house and never buy clothes at full price (Winners anyone?) but I do value a nice family vacation once a year so there is that 🤪 but even then we’re doing it for the experience, not to show off about it to friends.
My daughter is slowly starting to recognize the signs of true wealth. She see my husband and I have time to come pick her up from school when she’s sick, or travel to her weekday soccer tournaments to spend the day watching her play, that we’re not stressed out, that we love our lives. We feel good about our choices. All of these years of saving and living below our means is really starting to pay off in ways I wouldn’t have expected. And one last thing I’ll add is our closest friends all have the same attitude, surround yourselves with a bunch of quiet rich people if you can, it’s such a wonderfully low pressure way to live : )
