Last year, the Credit Suisse Research Institute said there were 1,117,000 people in Canada who were worth more than a million US dollars, with over half a million more to come by 2021. That means that there’s a good chance you might have a rich neighbour or two. Time Magazine shares their secrets.
1. They Spend Less Than They Earn
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2. They Are Patient
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3. They Choose Economy
4. They Pay Their Credit-Card Bills
5. They Focus on Financial Freedom
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6. They Know What Financial Freedom Means
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7. They Understand the Virtue of Having a Second Job
8. They Manage Their Money
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9. They Pay Themselves First
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10. They Enjoy What They Do
11. They Know the Importance of Planning
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12. They Don’t Rely on Luck
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13. They Think Big
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14. They Know That Hard Work Can Make Up for Mistakes
15. They Have a Contingency Plan
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16. They Start Early
17. They Know That if You Can’t See it, You Can’t Spend it
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18. They Don’t Really Need to Work
19. They’re Not Impressed by Flashiness
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20. They Know When to Cut Their Losses
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