WTTCHMN said:
Paris said:
Perspective said:
Doctors and lawyers have a high propensity to be what "The Millionaire Next Door" terms "under accumulators of wealth." Many can have very high incomes with very poor levels of wealth relative to their income.
Generally speaking true but I know many physicians with a fairly high net worth but usually these are not your regular salaried physicians - they are the ones with businesses, rental properties, a good diversification of wealth that optimizes their net positive cash flow in addition to what they make practicing. The younger generations of professionals seem to be more financially savvy than their older counterparts.
Or maybe they just marry firemen or marines who are more financially savvy than them.
Excuse me, don't put down firemen and members of the military because when your million dollar home is surrounded by a wildfire or ISIS is at your front door those "heroes" are the first people we all turn to. I'm very proud of my husband's military service to this country - it allows you to live within the safety net of your little protected bubbled Irvine world under the protection of the strongest military force in the world. So have a little respect for the military, they sacrifice their life, limbs, family life to protect us.
And for your information my husband is now in corporate finance making a lot more than me and he is extremely financially savvy (which is why we live comfortably below our means)