An article recently crossed my desk which indicated that donations to noble causes by the affluent had declined significantly during the latest economic malaise. If your job is to raise money for one or more of these causes, how should you respond to this news? It’s logical to assume that your business will decline parallel to the overall trend. This is […]
Good Business in Bad Times Read More »
Buddy Valastero, the star of cable television’s Cake Boss, was recently profiled in USA Today. According to the article, the Make-A-Wish Foundation recently asked him to help grant the wish of a 7-year old girl who was terminally ill. She wanted to make a cake with Mr. Valastero, and her wish was granted. “After she left, Valastero cried.
Give Thanks Every Day for Your Blessings Read More »
In a previous blog, I mentioned that 42% of the total income taxes in America are paid by the top 1% of income earners even though this group generated less than 25% of the total personal income. High income however does not mean high net worth and vice versa. In spite of this our so-called leaders
Taxing the Rich and Other Fabrications Read More »
In my last blog, I highlighted an e-mail I received proposing that the material in The Millionaire Mind be included in high school curriculums. However, this material would not likely be considered for such programs. The respondents profiled in The Millionaire Mind represented the top 1% of wealth holders in America [a net worth and income of more
Millionaires’ Reflections on High School Read More »
There is a growing concern among wealthy people about the press and politicians promoting the position that the rich are evil. All of my research indicates that, in general, the rich are far from being evil. No doubt that among a population of 4 million millionaire households in America there are some no-goodnicks among them.
Countering the “Evil Rich” Myth Read More »
It seems like everyone has an opinion about the “rich” these days. Take for example Ranger X. Rich. We first noticed the ranger as we hiked out of the large parking lot adjacent to the wilderness area. He was just opening his ticket book when my wife said to me, “did you put your parking pass [self administered] on
Perceptions of the Wealthy by Ranger X. Rich Read More »
In my last blog I profiled the “used vehicle-prone shopper” category of the millionaire next door population. I also briefly mentioned an engineering professor who detailed his latest car purchasing experience. “The sight of cash has a powerful effect on some people. Accordingly, I took $2,000 in twenty dollar bills from my emergency cash reserve.
Frugal Millionaire with a Mercedes? II Read More »
Motor vehicles today are more expensive than ever. You would think that it would be just the opposite since the economy is currently floundering. In 2006 Americans purchased approximately 16M new passenger vehicles. But not this year. Now it is more like 10-12M. Manufacturers have significantly reduced their production so there are fewer “leftovers” and other traditional
Frugal Millionaire with a Mercedes? I Read More »
Christy is one of the most economically productive millionaire next door types whom I have interviewed. She attributes much of her success to her upbringing. Her father was “career army”. . . a sergeant. Her mother was a full time homemaker. Household budgeting and a frugal family lifestyle were part of her earliest socialization process. We would all
Teach Your Children Well: Case Example Read More »