Millionaire on a Worker’s Budget

Many wealth building strategies contain unrealistic assumptions about contributions, return on investment and time horizons. The reality is, becoming a millionaire is a marathon, not a sprint. Furthermore, it is important to set expectations about what wealth really means.  

I think today many associate wealth with a big stack of cash. The truth is, unless we win the lottery, wealth for most of us will manifest itself in long term, very non-liquid holdings such as retirement accounts or real estate.

Building wealth generally requires struggling in our younger years in order to achieve a comfortable quality of life in our mid-life and beyond. This definition of financial success may not sit well with some in an instant gratification society!

That being said, just working hard and saving like crazy will not necessarily guarantee a million dollar net worth for the worker in a reasonable timeframe.  Building wealth takes not only tailored investment strategies but also some personal attributes within our daily lives. I like to call these attributes truths.

Several blogs from the past few months introduced five financial truths featured in my new book “Millionaire on a Worker’s Budget: Five Financial Truths to Build Wealth”. Invest early and often, be frugal, collect rent, don’t pay it, be diligent and knowledge is money are the five truths that helped my family achieve financially comfortable in around 20 years.

“Millionaire on a Worker’s Budget” reflects our personal journey from growing up in a working class family to successful. Beyond “comfortable”, which is certainly a relative term, we’ve also established generational wealth.

Generational changing wealth is used often these days, but what does it really mean? I used to think it meant passing on a huge inheritance when we die. I am not so sure anymore.

I think generational changing wealth is less about the sum of an inheritance and more about passing on to the next generation a progressive view on wealth building they can apply in their own lives.

My children have many more opportunities than I did, but I’ve tried to instill in them the financial truths that helped us succeed. I am quite certain the truths will manifest within them a lot different than it did for me! 

Everything that happens in life is the result of a decision whether our own or someone else’s. Building wealth is about making good decisions. We have to be quick and wise in our decision making to ensure limited resources go further.

I think the five financial truths that helped me, can help anyone make good decisions on their financial journey. Whether a worker just starting out or those seeking to get their financial life back on track.

“Millionaire on Worker’s Budget” is not only my personal financial testimony about overarching truths that guided me. The book includes twenty seven tips I used to help espouse the truths.

Additionally, at the end of each chapter, I take a look at the “truths in action” by following a notional subject’s financial journey over the course of 25 years. Using some base assumptions and real numbers, these periodic financial reviews show the effectiveness of the five financial truths. 

Our family has been incredibly blessed. My wife and I began our financial journey very average, but over the course of two decades, we achieved many successes and certainly a few setbacks. I feel compelled to share our journey in the sincere hope one average American’s story can help others reach financial goals.

“Millionaire on a Worker’s Budget: Five Financial Truths to Build Wealth” is available now on Amazon in e-book or paperback BUY NOW!

The commentary provided in this blog and in my book is for informational purposes only and is not intended to be a source of financial or investing advice.