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This guy has 800K in his CPF. (AK responds to HWZ Forum.)

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STE's story: The Millionaire Next Door.

Friday, August 9, 2013

Thanks to a reader, Sun, who reminded me of the fact that STE is a "millionaire next door", I remember that there is a very good book that shows us how common people can become millionaires.

Generally, there are two types of people:

1. "Under-accumulators of wealth (UAWs)": This type of people spend everything they earn as soon as they get it.

2. "Prodigious accumulators of wealth (PAWs)": This type of people are frugal. They save and invest. They become millionaires.

People sometimes think that high income earners are wealthy people. This might not be true. In fact, in the book, it is revealed that most high income earners are not wealthy. They make a lot of money but they don't keep much of it.

To become wealthy, we have to own income generating assets which will appreciate in value over time.

STE's story shows us, once again, how common people can become millionaires. He has done it and so can you! (You must be tired of hearing "If AK71 can do it, so can you!". So this is a change.)

I have found some bargains for anyone who doesn't mind pre-owned books:

The Millionaire Next Door: The Surprising Secrets of America's Wealthy
15 copies in Very Good condition at US$ 6.48 each.

The Millionaire Next Door: The Surprising Secrets of America's Wealthy
US$8.98 each.

Buy Books. Do Good. Support Literacy Worldwide

Free shipping worldwide.

Related posts:
1. STE's story: Personal finance.
2. STE's story: Investment strategy.


The Sun said...

Hi Ak,

It is great that you share the book with all. Hopefully, this book will help alter people's mindsets and attitudes towards money, debt, wealth and financial independence.

The Sun

AK71 said...

Hi Sun,

There are many good books out there and they could cost very little to own.

Thanks to your reminder, I remember this one. :)

AK71 said...

"It breaks down stereotypes of the rich and shows that most of them are really blue collar at heart. Very frugal people who for the most part have worked their entire lives very hard to create the wealth they have. Interesting and filled with stories of millionaires the authors know personally and have interviewed."

- Madonna Analla

Jordan Kidd said...

Hi AK also recommend Millionaire Mind by same author. Am interested in buying 2 copies of these books (in Singapore): can contact pls at Thks.

AK71 said...

Hi Jordan,

Just click on the images of the books and you will go to BetterWorldBooks where you will be able to find thousands of books, pre-owned, selling at knocked down prices. Free shipping worldwide. :)

You will be helping the good people at BetterWorldBooks fund literacy for the poor and doing your bit for the environment too. :)

DavidP said...

I bought the book. Better late than never :)

DavidP said...

I bought the book. Better late than never. Hope you can recommend more books!

AK71 said...

Hi David,

Never late, just later. ;)

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