Everyday Millionaires audiobook cover - How Ordinary People Built Extraordinary Wealth – and How You Can Too

Everyday Millionaires

How Ordinary People Built Extraordinary Wealth – and How You Can Too

Chris Hogan

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Money & Investments

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Key Takeaways from Everyday Millionaires

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Mind Map

Everyday Millionaires
Mindset & Beliefs+
Busting Wealth Myths+
Taking Financial Responsibility+
Intentionality & Budgeting+
Goal Setting+
Investing Strategy+

Quiz — Test Your Understanding

Question 1 of 8
Why does the author use the example of distance runner Roger Bannister?
  • A. To prove that physical health and financial wealth are deeply connected and require the same discipline.
  • B. To illustrate that once a seemingly impossible barrier is broken, others believe they can achieve it too.
  • C. To show that millionaires need to have a highly competitive, athletic mindset to beat out their peers.
  • D. To demonstrate that achieving a goal quickly is always better than taking a long-term approach.
Question 2 of 8
According to the author's study, what is the reality regarding millionaires and inherited wealth?
  • A. The vast majority of millionaires inherited their wealth from successful parents.
  • B. About half of all millionaires received a small inheritance that they invested wisely.
  • C. Most millionaires received a massive inheritance but lost it before rebuilding their wealth.
  • D. More than three-quarters of the millionaires interviewed received no inheritance whatsoever.
Question 3 of 8
Which of the following best describes the typical investment strategy of the millionaires in the study?
  • A. They frequently invest in high-risk, high-reward assets like single stocks and cryptocurrency.
  • B. They prefer extremely safe, low-risk investments like certificates of deposit (CDs) and bonds.
  • C. They avoid both high- and low-risk extremes, typically investing in growth stock mutual funds.
  • D. They primarily invest their money in real estate flipping to generate rapid, short-term returns.
Question 4 of 8
What did the study reveal about the educational and professional backgrounds of most millionaires?
  • A. They usually attend prestigious, brand-name private universities and become CEOs or doctors.
  • B. They mostly hold degrees from public state schools and work in normal professions like teaching or accounting.
  • C. The majority do not possess a bachelor's degree, having dropped out to start successful tech companies.
  • D. They heavily rely on student loans to finance top-tier educations that guarantee six-figure salaries.
Question 5 of 8
How does the author suggest you determine exactly 'where you are' financially before planning your journey to becoming a millionaire?
  • A. By calculating your net worth, which is everything you own minus your debts.
  • B. By comparing your current annual salary to the national median average.
  • C. By evaluating your credit score and your total credit card limits.
  • D. By estimating the future value of your inherited family assets.
Question 6 of 8
How do most millionaires view the concept of living on a budget?
  • A. They see it as a financial cage that restricts their ability to enjoy their hard-earned money.
  • B. They believe it is only necessary during the early years of their careers before they accumulate wealth.
  • C. They view it as a tool that gives them control over their money and clarity on where it goes.
  • D. They avoid budgets entirely, trusting their intuition to keep their expenses lower than their income.
Question 7 of 8
What does the author identify as one of the most significant long-term financial goals that can transform a liability into a 100 percent asset?
  • A. Maxing out a high-limit credit card to build a perfect credit score.
  • B. Paying off your house mortgage completely.
  • C. Purchasing a brand-new luxury vehicle in cash.
  • D. Investing heavily in speculative cryptocurrency markets.
Question 8 of 8
When investing the recommended 15 percent of your income toward retirement, what is the first step the author advises taking?
  • A. Maxing out a Roth IRA to take advantage of tax-free growth immediately.
  • B. Investing in individual tech stocks to accelerate initial portfolio growth.
  • C. Putting all 15 percent directly into a high-yield savings account to avoid market volatility.
  • D. Investing in your company's 401(k) up to the employer match amount to capture 'free money.'

Everyday Millionaires — Full Chapter Overview

Everyday Millionaires Summary & Overview

Everyday Millionaires (2019) draws on the biggest study on millionaires ever conducted in the US to reveal an essential truth – becoming a millionaire is something anyone can do. It doesn’t matter what your background is, how much money you make now or how lucky you happen to be – it just takes practical knowledge and a commitment to following a plan.

Who Should Listen to Everyday Millionaires?

  • Whoever believes they can’t get ahead
  • Those who think all millionaires come from money
  • Aspiring millionaires

About the Author: Chris Hogan

Chris Hogan is a best-selling author and financial expert, a dynamic event speaker and financial coach. In over a decade working with Ramsey Solutions, he has brought his hopeful message to audiences across the US, teaching countless people how to take control of their finances and achieve their goals. His podcast, The Chris Hogan Show, releases new episodes weekly.

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