Congratulations to R.S. He stopped acting rich. It is often difficult to cast off the habits of the hyper consuming, income statement affluent [those who have high realized incomes but little accumulated wealth]. It is especially hard to do if you were raised in that kind of environment. He accomplished this change by going almost cold […]
STOP ACTING RICH. . . A Wake-up Call for Me! Part I Read More »
A registered nurse recently asked me where people in her profession ranked in their ability to transform income into wealth. Highly compensated RNs are in the average range of productivity, ranking 88th among the 200 occupations studied. But her question reminded me of several case studies of RNs who leveraged their rigorous training, extraordinary work ethic and
The Millionaire Next Door: Factor 6 Read More »
Ned Davis, 36, is a successful trial lawyer. Even at this early stage in his career, his tally of legal victories places him in the exceptional category. Ned was kind enough to share some of his insights about the importance of accessorizing when in the courtroom environment. I’m not a big watch guy, but I
Successful Trial Lawyer Opts for $40 Timex Read More »
Would you like to work for a business owner who is a millionaire next door type? If so, pretend for a few minutes that you are one. As a millionaire, you probably spend at lot of time time reading the trade/professional journals of your industry and the industries you service. As a successful business owner, the classified “businesses for
The Wall Street Journal recently reminded its readers of Peter Lynch’s hall of fame batting average during his tenure as manager of Fidelity Investments Magellan Fund: Delivering 29% annualized returns from 1977 to 1990. . . Mr. Lynch’s work has had a profound influence on the way I invest. I once heard him speak at a Fidelity conference
Millionaire Investors Leverage Their Knowledge Read More »
Has your job search been unsuccessful? Perhaps you are using the wrong strategy. What should you do when the herd of millions of job seekers is all e-mailing its credentials to prospective employers every day? “Don’t follow the herd.” Begin to do things differently by using your courage, tenacity and creative intellect. Recently I reconnected with T.C. whom
Job Search: Cold Call the Millionaire Next Door Read More »
Most millionaire next door types are contrarians. They think and act differently. They are savers and investors in a population of hyper consumers. Plus most have high creative intelligence. This helps to explain why many of them are in niche, backwater, low status type businesses where competition is light or nonexistent. In addition, as stated in The Millionaire Mind, four
One Man’s Junk, Another Man’s Treasure Read More »
Why are liberals less productive in transforming their income into wealth than conservatives? For many high income producing liberals their capital is their high intellect. Or as one liberal respondent, a high income producing physician, said: “[money] income is the most easily renewable resource.” This liberal Phi Beta Kappa, Regent’s Scholar, cum laude graduate never
Conservatives or Liberals: Who Give More? Part II Read More »
The following inquiry was sent in by a reporter: I am writing an article for the local newspaper regarding who gives the largest percentage of income. I was discussing this article with a liberal friend and he felt that liberals give more money than conservatives. Is he right? Extrapolating from your book it appears to
Conservatives or Liberals: Who Give More? Read More »
In spite of Dave and Linda’s high income, they are two paychecks away from insolvency. How can this be possible? Perhaps it has something to do with Linda’s collection of nearly 200 pairs of shoes all purchased on sale from a variety of upscale retailers. She insists that she saved thousands and thousands of dollars by buying
So Many “Bargains” They’re Nearly Bankrupt Read More »