Next year will be the 20th anniversary of the publication of The Millionaire Next Door. It keeps on selling! In fact there is a seasonal component in terms of demand for the book. Why is it that sales seem to be highest the first few weeks after the Christmas/New Year’s festivities? I believe that many buyers are frustrated by their recent hyper consuming activities in preparation for the holidays. Some are dejected because they were unable for yet another year to save little of their hard earned income.
But it takes more than the information in a book to become a wealth accumulator. Most importantly building wealth takes financial discipline in a country highly populated with the undisciplined.
I was recently reminded of the discipline issue in another part of life. Nearly every day I walk my dog along a nearby “nature wonderland.” It is very pleasant for walkers, joggers, cyclists, bird watchers, etc. Typically is it not overcrowded, except for a few weeks after the holiday season. I estimate that more than 80% of those exercising at this time are first timers. The veterans like myself pretty well know each other and exchange “hellos and waves.” Nearly all the rookies, however, disappear over time. I have often speculated that their eventual absence is a result of the pain associated with trying to become physically fit in a few days after a year of indulgences and inactivity.
So I would like to offer a little bit of advice. Start trying to emulate the millionaire next door by staying financially fit all year long. This includes budgeting, controlling expenses, and keeping an eye on your financial goals.