Meet the millionaires next doorMany financially independent Americans aren't letting their wealth complicate their lifestyles.
Noah Sheidlower
Sun, Sep 1, 2024, 1:02 PM EDT
Not all millionaires have big houses, boats, or fancy cars.
In fact, six of them told BI their strategies to grow wealth — and keep it — are the exact opposite.
"We aren't flashy with our wealth because money isn't our ultimate goal," one said.
Anthony Drew Gary, 35, and his wife had a combined $5,000 to their name a decade ago. Now, the Indiana couple has a net worth of about $1.3 million.
Gary said they had an "incredibly average" path to wealth, emphasizing prudent investments and modest living.
He makes a decent living in real estate, saying he and his wife combined never made more than $200,000 in a year. With two kids and the rising cost of living in the US, that kind of money can go fast. So, for a decade, the Garys have stuck to a meticulous budget.
"We shop at Aldi," he said. "We're doing enough things right to have a significant margin in our lives that 10 years of compounded efforts have put us on the fast track to where we want to be." ...
But many of the millionaires Business Insider spoke with in recent months got there without a quick fix. Instead, they spent a decade or more investing wisely and living modestly. Most stressed that the importance of a budget and frugal spending shouldn't be overlooked, even though it can be difficult to ignore social pressure to keep spending on luxury goods and experiences — before and after getting rich. ...
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