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It seems that everyone was in agreement about LBYM, but discussions polarized on investing vs. paying off the mortgage.

I did notice thist ever-ongoing discussion wrapped in many threads. It seems to me that both TMND and TMM offer much more than just information about mortgage-debt held by millionaires.

For example, I found choice of occupation and level of education very interesting. Occupation choice and its accompanying accoutrements seemed to play largely in whether or not a person would be an extraordinary accumulator of wealth v. stuff v. debt. Also, college and graduate studies, usually highly regarded educational choices and historically an option reserved for those most affluent, cuts substantially into what could otherwise be income-generating time and can actually "force" a person into a lifestyle not warranted by income later earned. Case in point, college professors. Well-schooled, but when finally entering their field in an income-generating capacity, very poorly paid considering the amount of time and money invested into education. Compare this scenario to that of the bus driver cited in TMM. Low-paying job, but because of the lack of prestige, no need to buy fancy clothes or throw expensive dinners/parties. Additionally, because of the increased income-generating years available, more time to invest.

I have read The Millionaire Next Door but not The Millionaire Mind. I was surprised as I read The Millionaire Next Door just how many of those things fit me--not everything, but the majority did. It didn't really give me any life-changing insight, but acted more of a confirmation that I was indeed living correctly: using "artificial scarsity" in my case (instead of budgeting) to help me live below my means, avoiding consumer debt, buying used cars instead of new since used cars take care of my transportation needs, reasonably inexpensive clothing, buying some things in bulk where it makes sense for me to do so.

I also found that I do many of the same things cited as lifestyle choices enabling s.o. to become a millionaire. Unfortunately, I am far from being one. Working on it, but I have a LLLLOOOOOONNNNNGGGG way to go. In fact, this was my 2001 NY's resolution and will likely be my 2002 one as well. Because of my resolution, I have made a lot of lifestyle changes this year and have dragged my family along with me. While I have been LBYM through-and-through for many years, I am much more so this year.

Answering my own question posed in a previous post, what I took from both books, but in particular The Millionaire Mind, was that self-employment in so many ways is actually less risky than working for someone else.
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