Very few people put enough of their money into investments and so do not get rich. Consequently, they remain dangerously dependent on earning a salary.
Part B: Identifying Main Points
Each of the ten statements below contains information given in one of the sections in the text. Each section is marked with a letter. Identify the section from which the information is derived. More than one statement may refer to the same section.
C 1. JJ does not spend money on luxury brands. J 2. Ordinary millionaires do not lead a celebrity lifestyle. B 3. JJ did not receive a higher education.
K 4. Researching investment opportunities is important to becoming an ordinary millionaire.
F 5. Mike always focused on spending rather than saving money. G 6. JJ is less anxious than Mike about life. L 7. JJ always wanted to be in control of his own life. D 8. JJ does not need to buy expensive products.
I 9. The majority of American millionaires are self-employed. K 10. Most people do not want to dedicate themselves to work when they are teenagers.
Part C: Selecting Best Choices
The paragraph below has been taken from the text but includes ten blanks. You are required to select one word or expression for each blank from a list of words in the word bank provided. You may not use any of the words in the word bank more than once.
Word Bank
A) accomplish F) however B) brave
K) some L) the majority M) traditional
G) in contrast to
C) complete H) involved in D) correction E) demanding
I) key aspect
N) unusual
J) outspoken O) way
Millionaires can be ___J_____ and entrepreneurial; they may, like JJ, be quiet and M . They may also, of course, be sports, music or film stars — these are the cases — the glamorous cases — we read about in the newspapers and see on TV. But, in fact, most millionaires are not glamorous
and
do
not
have
glamorous
lifestyles.
L of them A financial success by being frugal. Being frugal is the I of wealth building. The opposite of a person who is frugal is one who is high-spending, and ordinary millionaires are never high-spending. Indeed, they often lead E lives. G glamorous millionaires in show business, they care little about their appearance and are willing to get H helping their employees to _____C___ jobs.
Interestingly, divorce is very N among ordinary millionaires. But the species is a rare one. Why is this?
Developing Your Skills Comparing Information
When comparing information, for example descriptions, in a text it is often useful to make notes of the items being compared in a table. To do this, it is necessary to first think of the criteria by which the items are to be compared. It is much easier to see the differences between items if you compare part by part or feature by feature rather than trying to consider every item at the same time.
From the information in the text, you may wish to compare JJ and Mike. First, you will need to consider which criteria can be used. You will need to check which information is contained on both men in the text. Complete this table which compares JJ and Mike by filling in any missing information.
Criteria life style JJ Does not have to live Mike To live up to the up to the expectations expectations of others, of others. On the contrary, not appearing rich helps he buys expensive clothes and cars and eats in the best him to maintain a restaurants. good relationship with his employees. accommodation Paid cash for his house Bought his house with and has no intention of moving to different accommodation. wealth accumulation Saves and actively invests his money. Does not make expensive purchases. attitudes and aspirations Spends and owes a lot Spends and owes a lot of money and his salary is his only source of income. Consequently, he is anxious about losing of money and his salary is his only source of income. Consequently, he is anxious about losing the help of a large loan; hopes to move to an even better house soon. Buys expensive products and so fails to convert his earnings into stored or invested wealth. his job. Also, he has no his job. Also, he has no
