5 Things Wealthy People Don't Do
You don't have to be a millionaire to steal these ideas about work, retirement and even getting up in the morning.
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They Don't Buy When They Can Rent
It's the American dream to own a home, but don't assume that everyone who can purchase a home does. The five-year rule (if you're not going to live in a home for five years, don't buy it) is back, says Trulia
's real-estate and lifestyle expert, Michael Corbett, who is also the host of Extra's Mansions and Millionaires
. Renting is more popular than ever, he says, even among the wealthy. While it once made sense for people who could afford it to buy a home and flip it after two years, and the market has improved moderately this year, we're hardly in a boom. This article by economist Robert J. Shiller
explains that attitudes toward renting are starting to change; 61 percent of Americans in a recent MacArthur Foundation survey agreed that, "for the most part, renters can be just as successful as owners at achieving the American dream."