Book Review: Everyday Millionaires by Chris Hogan

Calculating how to become a millionaire is pretty simple math.  Just accumulate enough assets to offset your liabilities so the difference between the two is at least a positive million.  However, the process to become a millionaire is not so simple.  The great news is many people have become millionaires and we can learn from what they did to build wealth.  Chris Hogan writes about research on over 10,000 millionaires in his book Everyday Millionaires.  In this blog we share some of his key findings to aid you in your path to becoming a millionaire.     

The easiest way to become like someone you look up to is to uncover the secrets to their success.  For example, if you want to be the greatest pediatrician ever you would find mentors who have been successful and ask them what they did to achieve their success, and then just copy what they did.  This, of course, doesn’t guarantee success, but it’s a good...

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Busting the Millionaire Myths

A myth is a belief that is widely held but false, and in this post we aim to bust a number of myths related to millionaires.  Our purpose in doing so is to boost your confidence in becoming a millionaire long before you hit retirement age.  If there ever was a profession that should have the highest percentage of millionaires it’s doctors, and as we review the myths you will begin to see you can do this.  You can become not only a millionaire, but better yet, a debt-free millionaire!

 

What is a millionaire?

Before we address the myths, it’s essential to make sure you truly understand the definition of a millionaire.  This seems like something everyone should know, but many have a false definition of what it takes to be called a millionaire. 

The most common misinterpretation is that a millionaire is someone who earns an annual salary of a million dollars or more per year.  While earning a big salary could lead to becoming a millionaire...

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