Accordingly to Thomas J. Stanley and William Danko, the authors of the bestselling book "The Millionaire Next Door", most millionaires live well below their means.

Indeed, they conclude most people have it all wrong about wealth in America. The authors note, "If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend."

The Texans say "Big Hat - No Cattle"...meaning those people flaunting $1000 suits, big homes and luxury cars may very well have less in the Bank than you!

Here is what the authors found is the prototypical American millionaire.

> 57 year old male, married with 3 children.
> Self-employed (the self-employed make up less than 20% of workers in America, but account for 2/3's of the millionaires).
>Own what could be classified as dull-normal businesses. Welding contractors, auctioneers, rice farmers, owners of mobile homeparks, pest controllers, coin and stamp dealers, and paving contractors.
>Half of their wives do not work outside the home. The number one occupation of those that do is teacher.
>Median income of a millionaire is $131,000.00.
>97% are homeowners.
>80% are first generation affluent.
>Wear inexpensive suits and drive American made cars. A minority drive current year automobiles. A minority of milionaires lease.
>Most of their wives are meticulous planners and budgeters.
> Millionaires invest nearly 20% of household income each year.

In sum, the millionaire in your neighborhood allocates time and energy into building wealth. They live below their means. They did not receive help from their parents. They believe financial independence is more important than displaying high social status.

Smarter Agent is probably the only Realtor in America that will tell you not to over-extend yourself when buying a home. Be comfortable, confident, and don't try to keep up with the Jones'...they may be worse off than you!