3 of 7 people found the following review helpful
A Valuable life lesson,
This review is from: The Millionaire Next Door: the Surprising Secrets of America's Wealthy (Paperback)I've yet to read this book, but felt that it seems quite fitting to talk about the life lessons which are depicted in this book and making me come to realize what my elders have been telling me all along.
I was always told by my family to save my money and to use it to build assets and properties. At the time, i was not aware of the importance of this seeing as i was only a teenager and living in a period where material possessions was and is the norm and a true display of wealth.
It wasn't until recently when it all hit me that the biggest value doesn't in fact come from money or material possessions since their 'value' drops. Money in physical form is actually a hindrance to our belief and is in fact merely paper. But money in itself is a liability since currency value drops over a period of time. If you look at the economy, the value of money has been declining...
So what is the measure of wealth? Its simply by the measure of your accumulated assets which sits alongside your existing wealth in yourself. And by that i mean, investments where the value actually grows... This can be properties, businesses, stocks etc.
It was then that i realized that a truly wealthy person isn't someone who buys flashy cars or services to display his wealth. Since a wealthy person understands the distinct difference between an asset and a liability.
Having understood this, it put an end to my worries that in order to find a place in the world that is ruled out by class. That i would have to display elements of my wealth in order to be considered wealthy, and that really my value is something which i give to myself.
So in essence, all of us are wealthy... This is a serious wake up call in a world where material possessions and flashy cars are considered traits to a wealthy lifestyle.
I will definitely buy a copy and read it...