Parenting 101 for the Rich and Affluent

     1.     Never let on that you are wealthy

Children imitate the high-consumption lifestyle of their parents, living in a way they believe appropriate for the wealthy to act. This will limit their ability to accumulate wealth on their own later on in life. 

     2.     Teach discipline and frugality anyway

Children develop habits from young, emulating the behaviour of their parents. Hence, it is not sufficient to tell children to be frugal but inculcate such discipline through being credible role models.

The Millionaire Next Door - the Surprising Secrets of America's Wealthy

  The Millionaire Next Door provides insights to the wealthy based on research about the affluent in America. Why are few of the hard-working, well-educated, high-income people affluent? What does it take, then, to be a wealthy person? 

  Through research, The Millionaire Next Door presents the seven key characteristics of the wealthy (check out the profile of an average millionaire), which is the roadmap to being wealthy laid out by the authors in the book.

  How many of us have what it takes to become a millionaire?

Who is Millionaire Joe?

  How to be a millionaire? 

  Maybe you can look up a millionaire and ask that he let on his secret. Or maybe you can observe-and-emulate. But firstly, do you know who are the millionaires in your neighbourhood?

  Do you tell by the fancy car which changes each year? Is it by the holiday home in Malibu? Is it by the expensive suits and dresses which cost more than you earn in a month, per piece? Maybe it's that guy who never leaves his computer, who trades stock all day - he must have accumulated enough from 'buying low and selling high' all day.

  Or is it that guy who dropped out of school, started his own business and got it listed...you know, 

Like this guy ->

  But wait a minute, there are 3.5 million households in America with a net worth exceeding $1 million, of which 95% have a net worth between $1 million and $10 million - why is it we don't see that many fancy cars, never hear of even 1 million companies which made it big, and are there that many college drop-outs in America??