In a recent article from Vanguard reviewing my latest book, Stop Acting Rich, the author referred to the story about “a restaurant with bugzappers.” This topic generated a lot of comments. Here are the details from the book. After I interviewed an entrepreneur from Texas with a net worth in the mid eight figures, he told […]
In Texas, Do as Texans Do Read More »
Last Sunday, a church in our neighborhood sponsored a sandwich drive. Members and their friends who volunteered made 12,000 bologna and cheese sandwiches for homeless people in the downtown area. About half of the people who participated included families with young children. This is a great learning experience for youngsters who are part of middle class America. It teaches them more
A Mentor with The Millionaire Mind Read More »
Do you ever wonder why the large majority of millionaires have little interest in early retirement? It is more than love of the job. Most, 81% of millionaires, selected their vocation because: My job/career allows me full use of my abilities and aptitudes. It is a whole lot easier to become an economic success if
Dan’s Journey: 9 Jobs to Wealth Read More »
You are contemplating pursuing a graduate degree. Several weeks after you take the Graduate Record Exam (GRE), your scores arrive in the mail. How do you rank? You discover that your verbal aptitude score is in the third quarter, or below average range. Naturally you are disappointed. If this was your score, would you still
In Honor of a Leader of Leaders Read More »
How do I categorize millionaires who inherited all or most of their wealth? I do not consider them to be fortunate. Actually, I think of them as being deprived. They were deprived of the great pride, joy and satisfaction derived from building one’s own fortune. Countless millionaires have told me that it is the journey to wealth
Enjoy the Journey to Wealth Read More »
A recent article in The Wall Street Journal mentioned that a conference of academic economists was taking place in Atlanta. The theme of the article centered around the frugal nature of academic economists. “Some economists may be cheap, . . . . because of their training or a fascination with money and choices that drives
Being Frugal Has Its Limits Read More »
Still looking for that perfect gift for your clients or business associates? Below I describe the ultimate gift for anyone in business. What is the most powerful method of influencing those who influence many other affluent prospects? As a general rule, it is the dimension of networking called “revenue enhancement.” Ask most successful business owners,
Year ‘Round Gifts: Clients for Life Read More »
What did I discover from my first national survey of millionaires in 1980? Just over one-half (53%) of these wealthy respondents graduated from college. What about 30 years later? The large majority (90%) of millionaires today are college graduates holding at least a bachelor’s degree. The same proportion applies to those with multimillions including decamillionaires. It
In an earlier blog, I mentioned that the typical Balance Sheet Affluent (millionaires) had an annual realized household income of $89,167 (median) when he first became a millionaire ($1 Million: Something or Nothing? Part I, and Stop Acting Rich, pp. 17-29). In other words, one half of the BAs had incomes that were less than this figure. What
A Millionaire on Less than $60K Read More »
Among the millionaire types profiled in Part I, what are some of the occupational groups that tend to have higher wealth indices than the norm? Some of these include: self-employed business owners (non-retail); executives of privately held corporations (see: The Millionaire Next Door); educators (and those married to an educator, see Stop Acting Rich, pp.
$1 Million: Something or Nothing? (Part II) Read More »