Have you ever heard the one about the billionaire who lives in a modest home?
That billionaire is Warren Buffett, who Forbes estimates has a $75.6 billion net worth according to Forbes World’s Billionaire List of 2017. His house? It’s not a sprawling 30,000-square-foot beachfront mansion. No, he lives in a quiet Omaha neighborhood in a $850,000 home that he bought for $31,500 in 1958.
Sure, for most people, living in an $850,000 home is a pipe dream. But if you think about a house like that being occupied by the second richest man in the world . . . it’s pretty surprising, isn’t it?
Warren Buffett could buy any house in the world (with cash!), but he chooses to live in a modest, relatively small home in Omaha. Why is that?
It’s a surprising fact that, according to Thomas Stanley’s book The Millionaire Next Door, “more than 80% [of U.S. millionaires] are ordinary people who have accumulated their wealth in one generation.” The book goes on to say that most millionaires don’t look the part. Most live in normal, middle-class neighborhoods and drive modest cars.
So what can you learn from these millionaires (and even billionaires like Warren Buffett) who don’t live the stereotypical life of a millionaire?
1. They’re avid readers.
President Harry Truman once said, “Not all readers are leaders, but all leaders are readers.” In The Millionaire Next Door, Stanley says that the average millionaire reads one nonfiction book per month.
You get the idea. One of the reasons millionaires become millionaires is because of their constant desire to learn. To them, leadership books and biographies are much more important than the latest hit reality show. When they have free time, they use it wisely—by reading.
2. They understand delayed gratification.
In other words, the average millionaire has spent most of their life sacrificing temporary pleasures for long-term success. They have no problem buying an older, used car, living in a modest neighborhood, and wearing inexpensive clothes. Keeping up with the Joneses isn’t a priority for them.
Those lifestyle decisions allow them to do things like save for retirement and college and build up a large down payment for their dream home. They realize that instant gratification is fun—but delayed gratification is so much better. Today’s sacrifices set them up for tomorrow’s success.
3. They stay away from debt.
The idea of “debt as a tool” is foreign to the average millionaire. If they want something they can’t afford, they save and pay cash for it later.
Car payments, student loans, same-as-cash financing plans—these just aren’t part of their financial plan, and that’s why they win with money. They don’t owe anything to the bank, so every dollar they earn stays with them to spend, to save, and to give.
Debt is the biggest obstacle to building wealth. Run from it every chance you get.
4. They budget.
Your budget is your plan, and you don’t build a net worth of a million dollars without some sort of plan.
Just like you build a house by starting with the foundation, you build wealth by starting with the budgeting basics. And then you keep following them. When you’re making a lot of money, you don’t stop managing it, right?
The average millionaire has made a habit of budgeting every month. They know what’s coming in and what’s leaving their bank account. To this day, Dave Ramsey and his wife still make a monthly budget—a practice they started decades ago. If you only remember one thing, remember this: Budgeting is the key to winning with money.
5. They give.
Sure, some rich people can be selfish jerks—just like anyone else. But the everyday millionaires who live down the street, the ones you don’t even realize are wealthy, are some of the most giving people you’ll ever meet.
Whether it’s tithing at church, donating to a meaningful charity, or just giving to friends and family on occasion, these people have a caring spirit. They realize that the most important thing you can do with wealth is help others. That’s actually why they continue building their wealth. They realize they can’t take it with them when they die. But instead of frivolously spending it all, they choose to leave a legacy for the people who mean the most to them.
This idea that wealthy people always live in ivory towers and wear $500 jeans is a myth. Being successful with money is as simple as living a modest lifestyle that follows a few basic principles.
The more of these habits you follow, the more successful you’ll be with money. Just ask Warren Buffett.
Retrieved from https://www.daveramsey.com/blog/habits-of-millionaires-and-billionaires
Today we live in a complicated world as it relates to the distractions of television, internet, and social media. It becomes very difficult to prioritize health and fitness each day because they battle for your time along with your normal every day activities. The path to health and fitness may not be as complicated as you think. Consider these three simple steps as you move towards 2018 being your best healthy and fit year yet!
If you’re a couch potato, parent or an executive, you must see yourself on top. Make a mental picture of yourself being healthy and fit. Imagine yourself in your new body. Wearing the clothes you love, having endless energy and having self-confidence. Allow this image to permeate your thoughts until you feel the internal peace of attainment.
Once you’ve established the image of your ultra-fit self. Now begin to chart a path. I recommend establishing small workable goals first. Developing consistency is much more beneficial than developing large overwhelming goals. There are many phone apps that have 5-20 minute workout apps that I fine to be very useful. You’ll receive maximum benefits in a short amount of time. My personal favorite apps for exercising and food tracking are the Nike Training Club, MyFitnessPal, and Daily Workout.
Lastly, you must take action. Building elaborate plans and mental mapping success is useless without execution. Taking the first steps can be overwhelming and tiresome, but over time health and fitness becomes effortless, fun, and may become a spiritual outlet. I recommend just starting, even a goal as small as drinking more water every day and taking a 7-minute walk is worth a try. The goal is progress not perfection.
Alfred King
Veterans Food Drive
/0 Comments/in Community, Past Events/by Andrea SolidItems Needed
Peanut Butter Spaghetti Sauce
Peanut & Cheese Crackers Pop-top canned fruits & vegetables (pull tab)
Beef Jerky Macaroni & Cheese
Apple Sauce Individually Packaged chips/pretzels0Goldfish
Pudding Boxed Drinks, juice and water
Fruit Cups Vienna Sausages (with pull tab)
Granola Bars Pop Tarts
Power Individual Packets of Oatmeal
Cereal Bars Plastic Spoons
Single serving items of Chef Boyardee Items Gallon Sized Ziploc Bags
Ravioli/ Spaghetti – O’s Fruit Snacks
Single Serving Soups (with pull tab) Dried Fruit
Tomato Juice Trail Mix
Packaged Nuts Any kind of pasta
LOCATION
2845 Lindell Rd
Las Vegas NV 89146
SUNDAYS
A Time of Prayer 9:00 am (on campus) 1st Sundays (Feb-Oct) Worship Service On-Campus & Online 10 am PST
WEDNESDAYS
Bible Study with Pastor Clinton HouseConcluded for 2024 Check schedule for special services
CONTACT
Phone: (702) 367-1636
Fax: (702) 367-4008
LOCATION
2845 Lindell Rd
Las Vegas NV 89146
CONTACT
Phone: (702) 367-1636
Fax: (702) 367-4008
SUNDAYS
A Time of Prayer 9:00 am (on campus) 1st Sundays (Feb-Oct)
Worship Service On-Campus & Online 10 am PST
WEDNESDAYS
Bible Study with Pastor Clinton House
Concluded for 2024 Check schedule for special services