Some adult children who still live at home are in fact quite productive. Take Tinny, for example. He started and stopped going to college several times. He had a variety of jobs but found them uninspiring. At age 23 he moved back home. But not to live off of his parents. He began his small business operation […]
Economic Outpatient Care Read More »
I have always been fascinated with the studies conducted by Consumer Reports that contrast the price of various brands with their quality and endurance. Often it seems that those brands of products which are in the higher priced categories are not found to be of the highest quality. Of course, there are many definitions and components to
Toyota: 1st in Quality and #1 Among Millionaires Read More »
Are you feeling blue, even guilty or left out? You did not participate in the Black Friday madness. Perhaps you didn’t even take advantage of all those opportunities available on Cyber Monday. . . . Alternatively, you indeed might have been lucky and perhaps smart as well to have avoided following the crowd of more than 100,000,000
Black Friday Blues Read More »
Mr. JF recently contacted me regarding The Millionaire Next Door. I finally understand why I’ve lived my life the way I have and become the millionaire next door. It would have been nice to have had this instruction manual early in my life but it’s also rewarding at 52 to realize I was blessed to
Ivy League Achievers Read More »
In a recent article from The American Thinker, Chris Corrodo provides an excellent counter to those who advocate increasing the taxes of the so-called “rich.” He briefly discusses the characteristics of the millionaires profiled in The Millionaire Next Door. Thomas J. Stanley’s insightful book tells us that the majority of wealthy people live quite frugally, and about 80% of
Advocates of “Tax the Rich” Please Read The Millionaire Next Door Read More »
Following up on the theme of my last blog, Millionaire Rule 1.49, I would like to share an email I received from Mr. G who lives in a mid-size, Midwestern city. I bought “The Millionaire Next Door” when in graduate school in 2001. It was the right book at the right time for me. It
Millionaire in the Making: Income $240K, Home $190K Read More »
The original title of The Millionaire Next Door was That’s Why They’re Wealthy. One of the main reasons that they are wealthy is that they live in an easily affordable home. I have found that when millionaires made their first home purchase, the ratio of the purchase price over their annual household income was just 1.49 [median]. And today they have seven times
Millionaire Rule 1.49 Read More »
John, a financial advisor, is relocating to a south Florida affluent enclave. He sought my advice concerning the “ideal” motor vehicle that he should acquire. John, who values the millionaire next door concept, is seeking “special dispensation.” He is fearful that he will alienate prospective clients by driving a dull normal make of car. Countless times people
Makes of Cars. . . Even the Glittering Rich Read More »
Stories about the so-called “evil rich”, the ever controllinig 1%, are rampant in the news. But the good deeds of the rich, if reported at all, are many times buried in the back pages. Take for example the 3″ x 6″ article published in The New York Times, “Two Cheers for the Malaria Vaccine.”
Unhappy 99%ers: Sell Your US Citizenship to Chinese Millionaires Read More »
This fall marks the 15th anniversary of the publication of The Millionaire Next Door. The book was not developed in a vacuum. I had a variety of great mentors who influenced me. These mentors include those whom I have known personally, such as professors and business contacts, and those about whom I have only read. Early in
The Millionaire Next Door Turns 15! Read More »