In the book, The Millionaire Next Door, by Thomas Stanley and William Danko, 1,115 millionaires were surveyed around the country. They came up with seven common denominators among those who successfully build wealth:
They live well below their means.
They allocate their time, energy and money efficiently, in ways conducive to building wealth.
They believe that financial independence is more important than displaying high social status.
Their parents did not provide economic outpatient care.
Their adult children are economically self-sufficient.
They are proficient in targeting market opportunities.
They chose the right occupations.