the millionaire next door audiobook reddit free

I remember them talking about how many of the wealthy individuals they surveyed never wore a wristwatch worth more than $40 or shoes that costs over $100. But they could've saved more if they cut back on things. They had nice trips and maxed out their 401k while building a ton of equity in a huge house. That said, they weren't exactly struggling before.

If they had been a little more modest and bought a 4 bedroom, 2500 sq ft house, only had 1 nice car and 1 cheaper car, and scaled back on vacations she said they could easily afford to live on just 1 income. But with their lifestyle they can't afford it based off only 1 doctor's income.

Not too mention their parents ask for cash every now and then.įlash forward to them having their first kid and expecting a 2nd on the way, and my relative says she wants to stay at home with the kids and stop working. But they bought a huge 6 bedroom, ~4,000 sqft house, have 2 nice cars, and fly on 4 or 5 vacations each year so they aren't saving too much. I have a relative where both spouses are doctors so obviously they make bank. Yea I can anecdotally speak about physician lifestyle. which all have some value to some effect) but still great read nonetheless. And it's fair to say net worth isnt everything (a nickel and diming family of a police officer and teacher might be worth more than a doctor, but doctor has the backyard pool, BMW, private school for kids, etc. Takes years before earning, and then student debt, missing out on early compounding, keeping up with joneses, etc. Meanwhile any accountant, engineer, marketing professional, nurse, and tbh a double teacher household could reach that number a DECADE before your typical doctor. But has shocking data on physician lifestyles and you are right - the majority are undersavers and MOST dont reach millionaire status until their FIFTIES. It will offer nothing new to you that you likely dont already know posting here. If you want insight into the world of physician finances I highly recommend the Whitecoat Investor book/blog/podcast. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future.

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The millionaire next door audiobook reddit free