Key takeaways from the book are:
- Big home owners (who are at big debt and who are experts in filling loan applications) are “income statement affluent”. Millionaires are “Balance Sheet Affluent”. They focus on accumulating wealth. They have little or no outstanding credit balances
- Foundation stones for financial success are Integrity, Discipline, Social Skills, a Supportive Spouse and Hardwork (working harder than most people)
- There is a strong correlation between one’s willingness to take financial risks and one’s level of wealth. It is less about investing in the stock market and much more about investing in ourselves, our careers, our professional practices, our private businesses and so forth
- Millionaires do not follow the crowd in what they sell and how they invest.
- Majority of the millionaires exercise regularly