ELI5: Explain Like I'm 5

The Millionaire Next Door

Hi there! Do you know what a millionaire is?

A millionaire is someone who has a lot of money, like millions of dollars!

Now, have you ever heard of someone called "the millionaire next door"?

Well, this is someone who is a millionaire, but they don't look or act like it. They might live in a regular house, wear regular clothes, and drive a regular car.

You might be thinking, "But if they have so much money, why don't they buy fancy things?"

The answer is that they are very smart about their money. They don't spend it on things that are not important. Instead, they save and invest their money to make more money.

These millionaires also have a really good work ethic. They work hard and are very focused on making their money grow. They also make smart decisions with their money, like living below their means, which means they don't spend more than they need to.

So, to sum it all up, "the millionaire next door" is a person who is very smart with their money, lives below their means, and focuses on making more money through smart investments and hard work.