Bert linked me to an EXCELLENT post on building wealth. The author is from howstuffworks.com, and gives facts (and remarks) from the book The Millionaire Mind about millionaires:

• The typical member of our group has never spent more than $41,000 for an automobile or $4,500 for an engagement ring. Neither our spouses nor we have ever spent more than $38 (including tip) for a haircut."
• 61 percent received nothing by way of inheritance, financial gifts, trust income, etc.
• 97 percent are homeowners. Median home price was $435,000 at the time of purchase. But only 10 percent bought "new" homes -- homes built in the last ten years. The vast majority are living in "older homes" in long-established neighborhoods.
• 32 percent are business owners. 16 percent are corporate executives. 10 percent are attorneys. 9 percent are physicians. The rest are accountants, sales professionals, engineers, professors, etc. "A disproportionately high percentage of millionaires, multimillionaires, and decamillionaires are self employed business owners and entrepreneurs or self-employed professionals." See How to make a million dollars for a perspective on that.
• Most of these millionaires "have been told by some authority figure or by the results of standardized test scores that we were not intellectually gifted, of law school caliber, medical school material, qualified to pursue a medical degree or smart enough to succeed." Average GPA in college is 2.92.
• This was fascinating to me: "Not one millionaire that I interviewed had anything nice to say about gambling." I have been to Las Vegas many times for various business trips and conventions, but I have never spent a dime gambling. I have never even stuck a quarter in a slot machine. I always thought I was somehow "weird" because of that. Now I find out I am normal.
• Finally, "What are the top five factors most often mentioned by millionaires as being very important in explaining their economic success? After you read them below, take out a card or a sheet of paper and write down these five elements of financial success. Keep a copy in your wallet or purse and paste a copy on your television...
  1. Integrity - being honest with all people
  2. Discipline- applying self control
  3. Social skills - getting along with people
  4. A supportive spouse
  5. Hard work - more than most people

Building true wealth takes a LONG time and a lot of sacrifice. My parents came to this country with nothing (literally) and gave me a wonderful life. Of course, the GPA statistic above means that my parents' obsession with school was a bit off-course (hehe), but I still love them very much ;)

. . .

Thursday: I think today is the first day all my holdings ended in the green. My highest gainer was only 1.28% (the rest barely gained at all), but it still feels good to go into the extended weekend with small gains... phew. I just HATE seeing red... I like to login to Fidelity and see green.