3. Lifestyle 1 – Inconspicuous Lifestyle 1. Inconspicuous Lifestyle

4. Mentor 2 - Mentor Example of success No commission or profit from advice Tax advisors preferred Example - CPA 1. Inconspicuous Lifestyle 2. Mentor

5. Modest Home 3 - Modest House Often a ‘starter’ home In a middle class neighborhood My wise father said to me, “Get a modest home and pay off the mortgage... Gordon B. Hinckley 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House

6. Home Ownership 97% of millionaires are homeowners 4 - High Instance of Home Ownership 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership

7. PAW -vs- UAW 5 - Dr. North (PAW) vs Dr. South (UAW) Can you live like Dr. North Can you see how easy it is to become Dr. South 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW)

8. Education Income 6 - Education IncomeAccumulation Education Income Income Accumulation Physicians Dentists Orthodontists Attorneys CPAs Financial Advisors Stock Brokers Insurance Agents Home Builders Actors Artists Musicians Provide Professional Services for a Fee 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation

9. Income -vs- Net Worth 7 – Income – vs – net worth def. – Net Worth Financial Assets – Liabilities (debts) = Net Worth 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth

10. Inheritance 8 - First Generation Millionaires 85% are first generation! Second generation millionaires At a disadvantage: ‘Overnight’ millionaires Odds of being an overnight millionaire One in four thousand 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires

11. 9 – Inheritances More than 50% Never receive $1 Majority of inheritances inheritances Gone by the third generation 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances Inheritance

12. Economic Outpatient Care 10 – Economic Outpatient Care Less than 2.5%Ever received more than a $10,000 in gifts More than 50% Never received any education financial assistance from any relative EOC to Adult Children – Rarely Given The more assistance adult children receive the less likely they are to accumulate 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care

13. Monthly Payments 11 – Monthly Payments To pay... curse To receive... Million Dollar Choice TM 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care 11. Monthly Payments

14. Budget 12 – Budget Intense focus on knowing where money is spent 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care 11. Monthly Payments 12. Budget – Intense

15. Shopper? 13 – Shoppers Not extensive time and energy spent Love NOT giving away their money Very aware of where to find a ‘good deal’ 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care 11. Monthly Payments 12. Budget – Intense 13. Shoppers – Not Intense

16. Education 14 – Higher Education 80% are well educated No guarantee of financial success 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care 11. Monthly Payments 12. Budget – Intense 13. Shoppers – Not Intense 14. Higher Education

17. Education 15 – Higher Education Spending on Children 1. Inconspicuous Lifestyle 2. Mentor 3. Modest House 4. High % of Home Ownership 5. Dr. North (PAW) – Dr. South (UAW) 6. Education / Income / Accumulation 7. Income – vs – Net Worth 8. First Generation Millionaires 9. Inheritances 10. Economic Outpatient Care 11. Monthly Payments 12. Budget – Intense 13. Shoppers – Not Intense 14. Higher Education 15. Higher Education for Children “We spend well for the education of our children?”

18. Lifestyle of Prudence 16 – JOY of Prudence and Frugality Delaying Gratification Or Developing a Healthy Preferred Lifestyle 16. JOY of Prudence and Frugality

19. PAW Asset Formula 17 - UAW AAW PAW Asset Formula Current age Current income (x) ___________________________ 10 What Your Current Net Worth Should Be $ 100,000 (x) 10 = $ 450,000 $ 450,000 $ 900,000 Underachiever UAW Average Accumulator AAW Prodigious Accumulator PAW = = 45 ________________ 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW

20. Your Spouse 87% leading cause of American divorces – money American Bar Association 18 - Spouse Significance I am satisfied that money is the root of more trouble in marriage than all other causes combined. Gordon B. Hinckley Cornerstones of a Happy Home 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance

21. Your Spouse 19 – Marrying the Right Person Very Important + Important I married the right person Millionaire Mind 84% 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person

22. Divorce 20 - Divorce Rate One-half national average 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate

23. ‘Working’ Spouse Rarely worked 21 - ‘Working’ Spouse No time consuming professional careers professional careers 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse

24. A Better Life? 22 - The ‘Better than My Life’ Syndrome “I want your life to be better than mine” We forget how we built our resources Children likely to spend to meet the ‘expectation’ We ‘encourage’ inefficient professional lifestyles 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome

25. Self- Employment 23 - Self Employment Two-thirds of all millionaires are self employed 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment

26. Savings 24 - How Much to Save Millionaires Save At least 15% Average of 20% Joseph to Pharoah - take up a ‘fifth part’... Genesis 41:34 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save

27. Investment Rules 25 - Investment Rules Familiarity with company or industry Familiarity with company or industry “Dull / Normal” investments “Dull / Normal” investments Twelve per-cent return over the past 10 years Twelve per-cent return over the past 10 years Increasing Dividends each quarter Increasing Dividends each quarter Same Management Team Same Management Team Long - term Long - term 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules

28. Purchasing Habits Rarely purchase: 26 - Purchasing Habits “I can’t get my wife to spend any money” Being frugal – a cornerstone to accumulation a cornerstone to accumulation Brand names Expensive items 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits

29. Profitable Business 27 - Most Profitable Businesses Begin with what already works Sole proprietorships: 15 million only made $6,200 25% made no profit Partnerships - 42% made no profit Corporations - 45% made no profit The Most Profitable Business The One that Compels you Most! 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business

30. Estate Objectives 28 - Estate Objectives Ambition Discipline Independence 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business 28. Estate Objectives

31. Estate 29 - Non-beneficiary Estate Executor Estate Executor 7 out of 10 named non-beneficiary as executor 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business 28. Estate Objectives 29. Non-Beneficiary Executor

32. In-Laws in Estate 30 – In-Law Conflicts Majority of family financial conflicts Best In-Laws – stay out 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business 28. Estate Objectives 29. Non-Beneficiary Executor 30. In-Law Conflicts

33. Live Below Means 31 – Live Life WELL Below Means 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business 28. Estate Objectives 29. Non-Beneficiary Executor 30. In-Law Conflicts 31. Live Life WELL Below Means

34. Hard Work 16. JOY of Prudence and Frugality 17. UAW / AAW / PAW 18. Spouse Significance 19. Marrying the Right Person 20. Divorce Rate 21. ‘Working’ Spouse 22. ‘Better than my life’ Syndrome 23. Self Employment 24. How Much to Save 25. Investment Rules 26. Purchasing Habits 27. The Most Profitable Business 28. Estate Objectives 29. Non-Beneficiary Executor 30. In-Law Conflicts 31. Live Life WELL Below Means 32. Life of DISCIPLINE, SACRIFICE, HARD WORK 32 – Life of DISCIPLINE, SACRIFICE & HARD WORK

35. 1.Inconspicuous Lifestyle 2.Mentor 3.Modest House 4.High % of Home Ownership 5.Dr. North (PAW) – Dr. South (UAW) 6.Education / Income / Accumulation 7.Income – vs – Net Worth 8.First Generation Millionaires 9.Inheritances 10.Economic Outpatient Care 11.Monthly Payments 12.Budget – Intense 13.Shoppers – Not Intense 14.Higher Education – 80% 15.Higher Education for Children 16.JOY of Prudence and Frugality 17.UAW AAW PAW 18.Spouse Significance 19.Marrying the Right Person 20.Divorce Rate ½ the National Average 21.‘Working’ Spouses – Rare 22.‘Better than Mine’ Syndrome 23.Self Employment 24.How Much to Save – Average 20% 25.Investment Rules 26.Purchasing Habits 27.The Most Profitable Businesses 28.Estate Objectives 29.Non Beneficiary Executor 30.In-Law Conflicts 31.Live Life WELL Below Means 32.Life of DISCIPLINE, SACRIFICE, HARD WORK