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Building wealth requires patience and longterm planning from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
Building wealth is a process that cannot be rushed. It takes time, dedication, and discipline to accumulate a substantial amount of wealth. Many people mistakenly believe that they can become wealthy overnight through get-rich-quick schemes or risky investments. However, the reality is that true wealth is built slowly and steadily over the long term. Patience is a key virtue when it comes to building wealth. It requires the ability to delay gratification and resist the temptation to spend money frivolously. Instead of seeking instant gratification, wealthy individuals focus on long-term goals and are willing to make sacrifices in the short term in order to achieve financial security in the future. Long-term planning is another essential component of building wealth. Successful individuals do not leave their financial future to chance. Instead, they carefully plan and strategize their investments,...
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