Personal finance author William Danko shares 3 top secrets for better wealth creation.

Rose Prince

2018-12-01 11:37:00 Sat ET

As the solo author of the books Millionaire Next Door and Richer Than Millionaire, William Danko shares 3 top secrets for *better wealth creation*. True prosperity is the convergence of good health, wealth, and happiness. The median net worth of self-made millionaires is $2.3 million, and their median age is 50. Most millionaires are men (90%) and also live in happy marriages (93%). First, most wage-earners should save 20% of their income per annum, whereas, most American consumers save only about 5% of their income each year. Second, each person should be a good steward of his or her resources. These key resources include stable personal relationships and frugal personal habits. In effect, frugal habits help ensure longer life longevity, better compound time, and greater compound interest. Third, it is important for most wage-earners to develop multiple streams of passive income. Fiscal discipline contributes to effective investments in small and profitable value stocks with conservative capital investment growth and low market risk exposure.

Most self-made millionaires share the basic fact that they need no budgets. These millionaires spend relatively little in comparison to their disposable income due to their fiscal discipline and self-control. As a result, this frugal habit renders budgets unnecessary.


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of AT&T (U.S. stock symbol: $T).

Apple Boston

2025-10-05 17:31:00 Sunday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of AT&T (U.S. stock symbol: $T).

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund

+See More

British Prime Minister Theresa May faces her landslide defeat in the parliamentary vote 432-to-202 against her Brexit deal.

Charlene Vos

2019-01-27 12:39:00 Sunday ET

British Prime Minister Theresa May faces her landslide defeat in the parliamentary vote 432-to-202 against her Brexit deal.

British Prime Minister Theresa May faces her landslide defeat in the parliamentary vote 432-to-202 against her Brexit deal. British Parliament rejects the M

+See More

President Trump seeks to honor his campaign promise of lower U.S. medical costs by forcing higher big-pharma prices in foreign countries.

Charlene Vos

2018-05-07 07:32:00 Monday ET

President Trump seeks to honor his campaign promise of lower U.S. medical costs by forcing higher big-pharma prices in foreign countries.

President Trump seeks to honor his campaign promise of lower U.S. medical costs by forcing higher big-pharma prices in foreign countries such as Canada, Bri

+See More

Treasury Secretary Steve Mnuchin indicates that the Trump team puts the trade war with China on hold.

Olivia London

2018-05-19 09:29:00 Saturday ET

Treasury Secretary Steve Mnuchin indicates that the Trump team puts the trade war with China on hold.

Treasury Secretary Steve Mnuchin indicates that the Trump team puts the trade war with China on hold. The interim suspension of U.S. tariffs should offer in

+See More

The financial services industry needs fewer banks worldwide.

Daphne Basel

2022-08-30 10:32:00 Tuesday ET

The financial services industry needs fewer banks worldwide.

The financial services industry needs fewer banks worldwide. As long as banks have existed in human history, their managers have realized how not all dep

+See More

Analytic business competitors apply smart data science to support their distinctive capabilities and strategic advantages.

Peter Prince

2020-11-24 09:30:00 Tuesday ET

Analytic business competitors apply smart data science to support their distinctive capabilities and strategic advantages.

Many analytic business competitors can apply smart data science to support their distinctive capabilities and strategic advantages. Thomas Davenport and

+See More