RE: Toll Collectors on the George Washington Bridge According to the Wall Street Journal, . . . some toll collectors make more than $100,000 [annually with overtime] This is the equivalent of more than two and one half times what the typical American worker earns. But toll collectors are not the only blue collar high income […]
Are Toll Collectors on Your Prospect List? Read More »
In Networking with the Affluent I emphasized that helping others should be part of your business plan. Good deeds are often rewarded many times over. People see you at your best when you contribute your time and money. The following letter from Mr. J.F. demonstrates both his marketing genius and the fact that he is a supportive spouse. His
Hallmark of The Millionaire Next Door: A Supportive Spouse Read More »
In my last blog, J.R. profiled his father-in-law who is the CEO of a major public corporation. He provided considerable evidence that his father-in-law is the millionaire next door type. Interestingly most senior corporate executives understate their wealth. Dear J.T.: Thank you for your insightful profile. My research over the years has found that
More Frugal than Expected: Senior Executives Read More »
Mr. J.T. recently contacted me with a candid profile of his father-in-law. I read your books. . . . obvious to me that my father-in-law is almost exactly the millionaire next door type. . . . . . .he is a rather well-known CEO of a publicly traded company. He is 57 years old. . . married
Shoes Resoled; Coupons Clipped; Net Worth: $25M+ Read More »
According to a survey conducted earlier this year by the National Automobile Dealers Association, the average dealer profit per new car sold was $1,334. Ah, but even better was the dealer profit on used cars, $2,160. Perhaps this has something to do with why most millionaire next door types buy new vehicles rather than used ones from
Buying Cars The Millionaire Next Door Way! Read More »
It wasn’t long ago that the popular press was filled with stories about Toyota losing its edge. I for one never believed the stories about Toyota having an endemic quality control problem. In fact, during the peak of all this negative publicity, I purchased a 2010 Toyota 4-Runner. This in spite of even Consumer Reports
Toyota and Honda Still On Top Read More »
In a recent Fortune editorial, Nina Easton writes “. . . don’t blame the rich: a defense of the 1%.” Instead of constantly criticizing the 1 percenters most people could learn a lot about accumulating wealth through understanding the habits of these wealthy people. She states succinctly: It’s entertaining to wail about the fat cats and the
Don’t Criticize the 1%; Emulate Them Read More »
Here’s a millionaire next door story from an admiring grandson: This is about my grandmother. . . a millionaire next door type all my life [35 years]. . . I had no clue. My grandmother never graduated from high school. Married at sixteen. She moved from New Mexico with my grandfather to a farm in Nebraska. . .
The Millionaire in The Mobile Home Read More »
It seems that it is open season on teachers. People are questioning their integrity as well as their competency in light of recent achievement test results. The large majority of teachers have high integrity and work hard to enhance the education of their students. It is too easy to put the major blame for the
Throwing Teachers Under the Bus Read More »
Ron is a member of the Balance Sheet Affluent club. He recently asked: “Is it a good time now to buy a home. . . a foreclosure?” Memo to Ron: I guess it all depends on how you define a “good time.” Some millionaires whom I have interviewed constantly have their eyes open for opportunities in the residential housing market.
Bargain Shopping for a Home Read More »