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Almost 80% of the millionaires who the author Thomas J. Stanley interviewed for "The Millionaire Next Door" are first-generation affluent, or self-made millionaires who didn't inherit wealth.
Many self-made millionaires also shied away from assisting their adult children financially, as it can hurt both the parents and the children.
He also identified three money habits that successful self-made millionaires avoid at all costs.
But according to Stanley's research, that's not the card most self-made millionaires turn to — most go for lower-fee credit cards instead.
Persons:
Thomas J, Stanley, —, that's, That's
Organizations:
Service, Millionaires