7.22.2008

Perhaps the greatest key to wealth is...

Your spouse!
  • 95% of millionaires in America are married
Remember the old saying "T.E.A.M. - Together Everyone Achieves More" ? That is never more true than in a marriage situation. The truly wealthy in this country most often have a partner in their success and perhaps they have success because of their partner! The other important factor is that the partner is a permanent one. The 95% of millionaires that are married suggest that staying married is better for your finances than getting divorced is.
  • Millionaires usually have a spouse more frugal than the breadwinner.
Having a great defense is the key to victory in sports and in finances. People who are frugal are the defense. They keep their team from losing because the opposition can't get ahead of them. A great offense is accumulating money, and that's important if you want wealth. More important those is that you keep that money, and the only way to do that is to defend it through being frugal. A frugal spouse is key to accumulating wealth!
  • In 70% of millionaire households the husband contributes at least 80% of the income.
The traditional model of the husband bringing home most of the money apparently isn't dead in households of great wealth. Those who build their wealth do so in a mostly traditional model where the male brings home much of the money. Remember the key to great wealth though, frugality. The key to wealth is that the money is handled well once it gets back home and that is often the job of the spouse who isn't working, which in this case is usually the wife. That means the wife is just as, and perhaps more responsible for the accumulation of wealth as the husband who brings home the paycheck is.

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