In a recent advertisement for Honda Accord, it was described as having the highest resale value within its class. I’m not surprised. How well a motor vehicle holds its value depends on several factors. Of course reliability is important no doubt, but there is something else. It has to do with retail versus fleet sales. […]
Buying a Car: First Cost vs. Life Cycle Cost Read More »
The topic of income inequality is a popular one. It is true that the bottom one-fifth of “income producing” households in America is accounting for a smaller and smaller percentage of the total income. Also, the top one-fifth continues to account for an increasing proportion of the income pie. How can it be that as the
Rich or Poor Today but How About Tomorrow? Read More »
A statement issued from NFL Commissioner Roger Goodell made the headlines in a wide variety of media. I understand that Mr. Goodell will cut his salary to $1 if there is a work stoppage after the current agreement with owners and NFL players expires in March. Further, news reports indicate that Mr. Goodell currently receives
Income: NFL’s Goodell vs. Typical US Family Read More »
Have you ever considered becoming an advocate for the causes of your clients and prospective clients? This is what Jason, a financial consultant, does all the time. He has great sensitivity to the needs and problems of others. I would like to share one of his experiences with you. Jason is a community volunteer who is actively involved with
Be an Advocate for The Millionaire Next Door Read More »
For most people, becoming financially independent requires adopting the lifestyle of the millionaire next door. Lifestyle of this type is all about disciplined behavior. It is not about merely reading books on the topic, but about applying the concepts to your every day life. All told there have been many more books published and sold
The Millionaire Single Mom Read More »
What is the purpose of government? In America it is supposedly to protect the rights of its citizens. Well, tell that to our fellow citizens at Odyssey Marine Exploration, an American company. According to a New York Times article, in 2007 Odyssey recovered an estimated $500 million in gold and silver coins from a Spanish
Finders Keepers but not for Americans Read More »
Not all people who inherit wealth spend it lavishly. This is especially true if their parents were dyed-in-the wool millionaire next door types. I was reminded of this fact in an article that I read about Mrs. Rosemary Johnson. She bequeathed $2.23M to the Madison (WI) Community Foundation. This foundation supports the local children’s museum, the YWCA,
Stop Acting Rich: Live like Mrs. Johnson Read More »
What is the meaning of success? Some define it in terms of occupational status, income, net worth, power, and even the size and location of one’s home. But these factors are not necessarily the ones held by Amy Chua who wrote an article, Why Chinese Mothers are Superior, in The Wall Street Journal. Ms. Chua claims, “A
“Chinese Mother”- Not of the Millionaire Next Door! Read More »
Most self made millionaires rank high on the tenacity scale. They report that this characteristic was developed in part during their secondary school and college experiences. The majority (76%) of the millionaires I surveyed report that tenacity and hard work account for why they consistently achieve at a high level. Plus, as I said in The Millionaire
Doctor of Tenacity Read More »
Who are among the best at serving the needs of the millionaire next door types? Often they are those who have had experiences with these types of people during their formative years. Tony Schuman, a successful investment manager, was sensitized early in his life to the significant differences between the low profile millionaire next door and those
Tony’s Reflections of a Millionaire Next Door Read More »