Some questions are asked so often that they deserve their own blog. One such question has to do with career choice framed in the context of “the need to become wealthy.” Early in my teaching career a distinguished senior professor and colleague once gathered all of the young faculty members together. He told us that in […]
The Millionaire Next Door Swims with the Economic Tide Read More »
I was delighted to learn of one of my reader’s (Mr. RK) transition from being a member of the income statement affluent segment to one in the balance sheet affluent population. Congratulations! The examples (of income statement types) are endless. My personal example was similar. Professionally, I’m an engineer. I’m really good at math and people pay me
A Cure for a Bad Case of the “Spends” Read More »
Comment on Bologna on Black Friday blog: I just started reading Stop Acting Rich for the second time. I love this book! BA is our goal. My wife and I just discovered estate auctions. We purchased a 9×12 Karastan area rug for $45 (retails new for $2500), and 6 antique walnut dining room chairs
Thanks go out to John Doe who pointed out an error in yesterday’s blog. It has been corrected. But here is some additional insight into the blog. Mr. and Mrs. Teddy Friend Sr., as pointed out, purchased and consumed 50,370 packages of cigarettes over 46 years. That translates into 1,007,400 cigarettes in total. Why did
Small Expenses Add Up Addendum Read More »
A newspaper article reported on a “low level employee” who has been accused of stealing from his employer. His theft went unnoticed for more than two years. And his crime was discovered only when an investigation outside the firm led to his arrest. No, the fellow did not steal cash, coins, checks, motor vehicles, etc. In just
Small Expenses Add Up Read More »
Warren Buffett is the best of the best at transforming income into wealth. How did he do it? Wise investing, you say. Combine this with his reputation for having enormous integrity and his well publicized frugal lifestyle. When it comes to consumption he seems to possess traditional midwestern values. In spite of his substantial wealth he lives in a relatively
To Build Wealth Maximize Your Unrealized Income Read More »
Recently Huff Post published a list of the top 10 most expensive office rental rates by city. It also listed the top ten least expensive rental rates. New York City (5th Avenue) ranked 2nd along the most expensive dimension at $97 per square foot. Omaha, Nebraska (less costly than hundreds of other cities) ranked 7th
A Billionaire’s Office Next Door Read More »
For 13 years I had the privilege of having Dr. David Schwartz as a colleague and mentor. He was the author of the perennial best-seller, The Magic of Thinking Big. I suggest that you read it, reread it and take notes! Then list the major objectives that you have in life. For many people who
Resolve to Think Big in 2013 and Beyond Read More »
Before you head out on a weekend of holiday shopping, we’d like to share some gift ideas that we recently shared with our AMI Research Panel. – Forget the latest gadget and give workout clothes! – Instead of spending big bucks on a new smart phone or tablet, get your loved one some new workout
The Millionaire Next Door’s Gift Ideas Read More »
Beverly’s good friends often joke about the worst place a toy shopper could be during the Christmas season: standing behind her at the Toys-R-Us check out counter! More often than not she is in line with multiple shopping carts loaded to the hilt. This is because one of her favorite pastimes is to provide toys for hospitalized children.
One Extraordinary Woman’s Christmas Gifts Read More »