The Millionaire Next Door

New name	Show page Syntax
The best Personal Finance book I've ever read? The [Millionaire] Next Door. Here are 7 critical lessons you should know: https://twitter.com/QCompounding/status/1678764926553190400 # 1️⃣ Live below your means - Spend less than you earn. Save and invest the difference. # 2️⃣ Invest a significant portion of your income - Invest at least 10% of your income in stocks every single month. When you invest periodically, you also don't have to worry about market timing. # 3️⃣ Have a long-term plan - In the land of the blind, the one-eyed man is king. Set clear financial goals and develop a plan to achieve them. # 4️⃣ Create passive income - If you aren't making money while you sleep, you'll work until you die. # 5️⃣ Be frugal - Always avoid unnecessary expenses. Investing is all about delayed gratification. # 6️⃣ Avoid debt - Debt can be very dangerous. If you're smart you don't need it and if you aren't smart you shouldn't use it. Buying a house is the only justified event to use debt. # 7️⃣ Invest in yourself - Always keep learning and improve yourself. Reading as much as you possibly can is the best way to do this. [Door] {tags: Book}
Password Summary of changes