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High income does not guarantee wealth accumulation from "summary" of The Millionaire Next Door by Thomas J. Stanley,William D. Danko
Many people mistakenly believe that having a high income automatically leads to the accumulation of wealth. They assume that the more money someone makes, the richer they must be. However, this is a common misconception that is debunked by our research. In reality, wealth accumulation is not solely determined by how much money you earn, but rather by how much of that money you keep and invest wisely. It's not about how much you make, but about how much you save and how you manage your finances. Our studies have shown that there are many high-income individuals who are not wealt...
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