- According to a researcher who studied more than 600 millionaires, to build wealth, you need two qualities: resilience and perseverance.
- These qualities are characteristics of those who can afford to retire early and entrepreneurs who become self-made millionaires.
- It takes conscious effort to develop resiliency and perseverance.
What does it take to get rich?
It may seem like building wealth is impossible, but it takes two qualities that anyone can develop to do it: resilience and perseverance.
That’s according to Sarah Stanley Fallaw, coauthor of “The Next Millionaire Next Door: Enduring Strategies for Building Wealth” and the director of research for the Affluent Market Institute.
A follow-up to the 1998 bestseller “The Millionaire Next Door,” written by her father, Thomas J. Stanley, and William D. Danko, the book provides updates and new studies on Stanley’s original research on millionaires. Stanley Fallaw’s findings are based on a survey of more than 600 millionaires in America conducted between 2015 and 2016.