Who wants to be a millionaire? 3 easy ways you can build wealth
Real prosperity is the convergence of good health, happiness and wealth, says William D. Danko, author of the new book ‘Richer than a Millionaire’
Even if you are not born into wealth, you can still become wealthy.
Regardless of your financial situation or education, building wealth boils down to three things: saving, resourcefulness and maximising income, says William D. Danko, co-author of the bestseller The Millionaire Next Door.
His latest book, Richer Than a Millionaire, suggests that true prosperity is the convergence of good health, happiness and wealth.
In a recent Q&A with the American newspaper, The Washington Post, Danko was asked for his best advice for building wealth “regardless of financial situation and education”.
“First, commit to saving 20 per cent of your income,” Danko says.
“Currently, most save about 5 per cent. It is hard to get ahead and be an investor without saving first.
“Second, be a good steward of your resources.
“This includes having stable personal relationships and good personal habits. These behaviours will lead to a longer life, and more compounding opportunities.
Commit to saving 20 per cent of your income ... have stable personal relationships and good personal habits ... consider having more than one stream of income