“You’ve been lied to,” states Chris Hogan, author of Everyday Millionaires.
Lies? About what? He postulates that we’ve been told lies about millionaires: who they are, how they act, and how they got their money.
Hogan, through careful research and personal interviews with more than 10,000 millionaires, debunks the typical myths about millionaires:
- They didn’t earn their money and don’t deserve it
- They take big risks with their money
- They have an advantage in education and careers
Interestingly, the attributes of millionaires below are attributes that any of us can exercise*:
- Millionaires take personal responsibility
- Own their mistakes and change course, when needed
- Take advice from others
- Use financial planners
- Millionaires practice intentionality
- Live on less than they make
- Use coupons
- Drive older cars
- Millionaires are goal-oriented
- Set goals and accomplish them
- Save consistently
- Don’t keep their home mortgage for a tax advantage
- Millionaires are hard workers
- Wake up early
- Enjoy their jobs
- Exercise regularly
- Millionaires are consistent
- Stay married
- Invest consistently
- Take advantage of their company retirement plans.
This is the number 1 way the millionaires Hogan studied built their wealth!
As you can see, millionaires are not a mysterious, only-those-who-have-the-right-information-and-pedigree bunch of people. Millionaires—at least those studied in this book—live by basic stewardship principles.
As we contemplate how to be the best stewards of God’s finances and seek to multiply His resources, our goal isn’t necessarily to become millionaires. However, let’s work to build wealth for the purpose of caring for our families, supplying the needs of others, and giving generously to build God’s kingdom.
*Taken from Chris Hogan, Everyday Millionaires (Brentwood, TN: Lampo Licensing, LLC: 2019). The comments in parenthesis are those of the writer of this article.