As long as we are headed towards a controlled economy, I would like to add my two cents worth and perhaps a bit of comic relief. We can encourage people to become more fiscally responsible! I suggest that we begin by altering the spending habits of the hyperconsuming/income statement affluent (IA) population. I mentioned on Twitter that …
One of my earlier blogs, The Downside to Understating Your Wealth, apparently hit a chord with many of you. Mrs. Davis, a teacher, told me that her memory was jogged after reading about the Honda driving doctor who couldn’t get into the hospital’s parking lot. Here is her contrasting story on the upside of understating your wealth. …
Is being frugal fashionable today? Perhaps, considering the severity of the economic times. The more important question is: how long will it be fashionable? The following is an excerpt from my new book, Stop Acting Rich, highlighting the focus on hyper-consuming, highly compensated members of our society and their spending habits. America is a nation of excesses. And these excesses, …
Thirty years ago I first defined the blue collar affluent aka the millionaire next door type in a speech and paper that I delivered on behalf of the New York Stock Exchange. This began a lifetime journey of identifying and profiling the myths and realities of the rich. I discovered that not all millionaires have high …