Its Official - The Average Millionaire Is An Aggressive Tightwad
September 24, 2007
If you had fun doing the millionaire quiz and want to improve your chances of making your first million, this may be of some help.
I’ve done a bit of research on the profile of the average millionaire, and I found an interesting survey carried out by the good old BBC.
So, what’s the average millionaire really like?
They’re Tightwads: The average millionaire spends less than £60 a week on food shopping and less than £500 a year on clothes.
They Didn’t Take The Teacher An Apple: Only 1% had ambitions to do as little as possible, yet 60% said they were average or lazy at school.
They’re Not Idle: When asked what it takes to make a million - most of those surveyed said - “hard work”. On average, those surveyed work 60 hours a week and half stay in contact with the office when on holiday.
They’re Not Shy: Those profiled in the survey were agressive, self-confident, competitive and enjoy taking risks.
They’re Explorers Millionaires love vacations, taking three a year on average. And the average multi-millionaire takes 5 vacations a year.
Click here to read the rest of the survey.
And if you have your sights set on becoming a billionaire, check out this post too.
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9 Responses to “Its Official - The Average Millionaire Is An Aggressive Tightwad”
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I aint a millionnaire, but I think I may qualify:
- Spend next to zero on clothes. Even if I had the money, I just can’t stand shopping
- Food shopping - may fail that one, but don’t do much food shopping
- I was incredibly lazy at school
- 60 hours a week sounds about right, and tend to keep an eye on stuff at the office while away
- Wouldn’t describe myself as aggressive, but about right on self-confidence, competitiveness - absolutely delight in taking risks
- When I become a millionnaire, will definitely have 5 holidays a year!
So the only thing missing then is the million spondooleys.
I had to chuckle because that describes me. I’m not a millionaire yet. I read some of the same characteristics listed above in the book The Millionaire Next Door. I was lazy in school, although I did well. I just wasn’t challenged. I’m definitely aggressive. I used to be surprised at the lackadaisical attitude that some had about work.
Yes I definitely take my work with me. I’ve been working for myself full-time for almost a year (part-time it’s been almost five years.) I don’t do as much but I definitely check in.
I really have no choice since it’s “me, myself, and I. I would eventually like to hire someone that in itself will be a challenge.
Truth is that most people don’t have these quality and are too lazy to even want to try.
I fall in the category of being too greedy sometime - I don’t spent a lot and try to save as much as possible and reinvest
I do donate regularly to church though
Love the headline hah.
The key is it’s OK to be an aggressive tightwad. Sure, people will hate you for it, but it’s a choice. You deserve all that’s coming to you because you put in the time.
Maybe I’m wrong. We are talking about “average” millionaires. If you live in a prosperous nation, it’s not hard to become a millionaire today. I heard of a couple who has a 50k a year combined salary and are millionaires.
Saving is all you need.
Opal - hiring people is really tough at first, but it’s worth persevering with.
Sean - reinvesting is smart.
Sorry Carl - I didn’t really define the millionaires studied. They were self made entrepreneurs and the study included Richard Branson and Anita Roddick - obviously they weren’t all that rich though!
Agreed though Carl - many people can get to be millionaires just through saving for years and with the prices of houses now - some people are put into that bracket cos of their house value. To me that would be a pretty boring way to get rich though - and I didn’t want to bring up death again, but if yoou’re saving for years to be a millionaire, you’d have to hope you were going to live!
I’m pretty frugal, hopefully it pay off in the end!
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