38 Questions to Determine if You're a Millionaire, or Headed in the Right Direction


I pulled these questions mainly from looking at the median activity of millionaires based on Thomas Stanley’s The Millionaire Next Door, The Millionaire Mind, and Stop Acting Rich.

This list is meant to get your introspective gears turning. All generalizations are false.

  1. Do you live well below your means?
  2. Do build your wealth by spending your time, energy, and money efficiently?
  3. Do you care very little about social status?
  4. Have you received no financial help from your parents?
  5. Do your adult children pay their own way (popular ways to help, but still prohibited: down-payment for a home, and private schooling)?
  6. Are you married?
  7. Just once?
  8. Do you own your own business?
  9. Do you spend less than 7% of your wealth each year to live?
  10. Is your net worth about six and a half times the average net worth of your neighbors?
  11. Do you work 45 to 55 hours per week?
  12. Do you save and invest about 20% of your annual income?
  13. If you wear a watch, is it a Timex or Seiko?
  14. If you’re wearing a Rolex, was it a gift?
  15. Have you purchased two or less vehicles in the past 10 years?
  16. Are those vehicles Fords, or Toyotas?
  17. Ladies, was your last haircut about $45?
  18. Men, was your last haircut about $16?
  19. Are you happy?
  20. Do you own a home?
  21. Is your home’s value less than 10% of your net worth?
  22. Have you lived in the same house for more than twenty years?
  23. Are you college-educated?
  24. Were your parents still married before you turned 18?
  25. Was your mother’s primary role as a homemaker?
  26. Was your father a blue-collar worker, or a business-owner/self-employed?
  27. Is a typical meal at your most-frequented restaurant about $20?
  28. Do you give at least 5% of your income to charitable causes?
  29. Have you never paid more than $41,000 for a vehicle?
  30. Do you have little to no debt (including the mortgage)?
  31. Do you feel balanced between work, family, socializing, and your community or church?
  32. Do you spend time planning investments and consulting with a tax advisor?
  33. Do you maintain a budget?
  34. Do you have integrity?
  35. Do you possess high levels of self-discipline?
  36. Do you get along well with all types of people?
  37. Is your spouse supportive?
  38. Do you work harder than most people?

I’d focus on the questions over which you have control, and not agonize over the rest!