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The Importance Of Perseverance

September 17, 2016

The Importance Of Perseverance

Without training to overcome adversity, wealth is soon lost

Most of us work hard at earning our income, and on figuring how best to save and invest it.

We all want a better future, for ourselves and our families — and especially for our children. Achieving financial security is an important milestone on the path to making this ambition a reality.

And so, day after day, we head off to work and put in another day’s labor, hoping we’re one step closer to the moment when we finally have “enough” money socked away.

There are literally thousands and thousands of books that have been written on how to amass wealth. Some excellent, some less so; and too many not worth the paper they’re printed on. Each posits its own special strategy, promising a future of riches to the reader. Of course, were there a sure-fire recipe for making millions, it’s a safe bet that the last thing the guy who figured it out would do is share it with the world.

But as mentioned, some of these books have real value. One whose lessons have stuck with me in the decades since I first read it is The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, first published in 1996 by two PhD researchers, Thomas Stanley and William Danko.

Unlike most personal finance books that pitch a particular model for “becoming rich”, this book is the summary of a scientific profiling of people who have successfully amassed wealth. Rather than push an ideology, it simply reveals: These are, statistically, the factors wealth-accumulators have in common.

…click on the above link to read the rest of the article…

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