No. of Recommendations: 2
telegraph posts,

intercst posted: ""Millionaire Next Door" author Thomas Stanley explains it in the link I posted."
- --


if you actually read the link

"It is a myth that most millionaire next door types only buy used cars. In fact, for every one millionaire that is used vehicle prone there are two who tend to buy new vehicles. "

</snip>


Here's the complete paragraph.

In fact, for every one millionaire that is used vehicle prone there are two who tend to buy new vehicles. Yet I am often asked why I devoted so much “ink” to this minority segment. Within the used vehicle prone segment, there are two subsegments. One, the most illuminating, is the UVPS [used vehicle prone shopper] which makes up about 20% of the total millionaire next door population.

When asked how he gets a “good deal” when acquiring a motor vehicle, the UVPS’s number one response is “buying used cars via aggressive shopping among private owners, dealers, leasing companies, etc.” But there is much more to this story than just the acquisiton of motor vehicles. The UVPS segment represents literally hundreds of productive habits, financial lifestyle patterns, and attitudes.

</snip>


intercst
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.