The classic book "The Millionaire Next Door" explores 7 common factors between the millionaires around us. We all have our perceptions of what a millionaire looks like, but this perception is not accurate! We'll explore 3 takeaways and 3 applications to your financial life to get you closer to becoming the millionaire next door yourself.TakeawaysTakeaway #1 [08:41] - Living well below your means. This is accomplished "playing great defense", having a budget, and planning for the future.Takeaway #2 [15:36] - Allocate your time, energy, and money in ways that are conducive to building wealthTakeaway #3 [25:03] - Raise children who are independent and do not provide "economic outpaitent care."Financial ApplicationsChoose a field [33:14]Save 20% of your income [34:14]Put together a plan [36:14]LinksShow NotesBuy the book (affiliate link)Indexology Exhibit 1: Most will underperform the market averageSPIVA: 2020 Active vs Passive ScorecardFinancial Samurai: Active vs Passive performanceBarrons: Hedge Fund performanceNext UpNext week we'll talk about the book Indistractable and how you can stop getting distracted from your money goals!Advertising Inquiries: https://redcircle.com/brands