Harry owns a Jeep dealership. Recently his 14 year old son told him that “some of the kids at school are teasing me over the headline in USA Today: Jeep tops ‘Consumer Reports’ list of worst car values. Earlier USA Today published Consumer Reports’ “predicted liability by brand.” Jeep ranked 27 of 28 makes. …
Most households in America with good to even great incomes, “have small levels of accumulated wealth. Many live from paycheck to paycheck.” And, as I also wrote in The Millionaire Next Door, these are the people who will benefit most from the book. With this in mind you will understand my keen interest in the …
The arch type millionaire next door is an economically successful self employed business owner. In other words, he is an employer not an employee. He is in essence a leader. This fact has much to do with understanding something important about millionaire business owners. There is little or no significant correlation between cognitive intelligence test scores …
The co-founder of Nine West Shoes, Vince Camuto, recently passed away, see The Wall Street Journal. The Nine West brand certainly rings a bell with me. In the national survey of millionaires that was the base for my book, Stop Acting Rich, respondents were asked: What brand of shoes (for dress and/or for work) do …
Ask Your Customers About Their Unfulfilled Needs Read More »
Tom Hanks’ movies have grossed over $8 billion worldwide. If you read his recent op-ed “I owe it all to community college” in The New York Times you might understand why he should be nominated for an honorary membership in the millionaire next door club. So what if he graduated from a public high school, …
Tom Hanks’ Movies: $8 billion – I owe it all to community college Read More »
A headline in last week’s Wall Street Journal indicates a step in the right direction for college admission criteria: “Colleges Put the Emphasis on Personality: Some Shift Focus Away from Test Scores in Deciding Which Students to Admit” Yet even adding measures of perseverance, adaptability and discipline to the college admission process is not enough. …
Needed: College Admission Measures that Judge Success in Life Read More »
. . . most of the self-made millionaires I have studied . . . were able to build wealth precisely because they never lived in a home . . . where their domestic overhead made it difficult for them to build wealth. (Stop Acting Rich) Along these lines consider the ratio of the median household …
Next year will be the 20th anniversary of the publication of The Millionaire Next Door. It keeps on selling! In fact there is a seasonal component in terms of demand for the book. Why is it that sales seem to be highest the first few weeks after the Christmas/New Year’s festivities? I believe that many …
A multimillionaire once defined what it means to be wealthy. Wealth is not only about money but Good health, longevity, happiness, a loving family, self-reliance, fine friends, if you [have] five, you’re a rich man. The Millionaire Next Door
In the last few weeks a variety of articles have popped up recommending books on financial topics as gifts this holiday season. I was especially pleased to read Adam Zoll’s Great Book Ideas for the Investor on Your List on Morningstar.com. I understand that Morningstar readers were asked to indicate their favorite books on the topics of investing and …