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Four Steps To Financial Planning
Am I Wealthy? From the book 'Millionaire Next Door'

To find out if you are wealthy, complete the sum below:

(Gross income x age)/10

For instance:

  • Take your income from all sources except inheritance
  • Multiply by your age
  • Divide the result by 10

This is what your NET wealth should be ie all assets less all debt

If your NET worth is twice the wealth benchmark,

You are rich!

If you do not have three months worth of essential expenses in savings - you are broke!

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