Can You Become A Millionaire?
At Mastering Your Money, we will gladly applaud people taking cost cutting strategies. Clipping coupons, taking home a doggie bag from a restaurant meal, splurging only at discount stores, and even being conservative about the home you buy are all pretty common when you are intense about getting out of debt and saving money.
But would you ever guess that these are also actual habits of some “super” rich folks?
• Hillary Swank, an award-winning actress with an estimated worth of about $40 million, is a coupon clipper.
• Even though he has an estimated net worth of $1.3 billion thanks to his early investments in Google, David Cheriton saves half the meals he orders at restaurants for the next day.
• Legendary investor and founder of Berkshire Hathaway Warren Buffet lives in the same home he bought more than 50 years ago. It’s now worth about $390,000. He is worth $44 billion!
• Former presidential candidate and co-founder of Bain Capital Mitt Romney shops for blue-light specials on golf clubs at Kmart, even though his net worth is as much as $250 million.
Joining us for our discussion on Can You Become A Millionaire? is Sarah Stanley Fallaw, PHD who is calling in from her Atlanta Georgia office. Dr. Sarah Stanley Fallaw is an industrial psychologist and president of DataPoints, a data-research and technology company that studies wealth accumulation and builds tools to help individuals and financial advisers shape behaviors that drive wealth building. Her latest book is “The Next Millionaire Next Door: Enduring Strategies for Building Wealth ”.
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