In the course of conducting research for The Millionaire Mind, the topic of “choice of spouse” was highlighted. One of the respondents, a decamillionaire and senior corporate executive, spoke of the importance his wife had played in his success. He recounted, “the joy of being married to an unselfish, intelligent and nurturing spouse.” After two years […]
Key Millionaire Factor: A Supportive Spouse Read More »
One of Anne’s tennis partners recently reported that her grandson was hired by a consulting company with a base salary of $94,000 a year. Anne wondered if this was possible given the fact that “he just graduated with a BBA degree, not an MBA.” I told Anne that it was quite possible, especially since this young man graduated from a
Finding the Ideal Mentor Read More »
In Stop Acting Rich, I profiled the “aspirationals” (people who act rich . . . but actually aren’t rich). Perhaps Shakespeare was referring to these people when he said “all that glitters is not gold.” Yet many Americans are guilty of judging the wealth of others based on whether or not they drive prestige makes of motor vehicles. Judgments
Leasing: A Popular Substitute for Wealth Read More »
While channel surfing, you are bound to come across programs on the “glory” of ancient Egypt. Perhaps these programs should have a warning label. No doubt the pyramids constructed during this time were quite impressive feats of engineering and management. But they were products of a system where wealth and the control of the nation’s resources were in the hands of
Ancient Pyramids: A Productive Use of Resources? Read More »
The Wall Street Journal stated that the per capita consumption of carbonated soft drinks [sodas] in this country is 165.3 liters. Last month Bob, a millionaire next door in the making, contacted me about a related issue. He heads a family of 5 which up until recently was a consumer of soda. He wasn’t certain how much money his family
Nothing Soft About the Cost of Sodas Read More »
Last week a reader suggested that a review of previous research on the topic of motor vehicle purchases by millionaires was in order. And I agree. In Table 4-1, Motor Vehicles of Millionaires: Model Year in The Millionaire Next Door, I mentioned that nearly 1 in 4 millionaires (23.5%) owns the latest model year vehicle. Some readers interpreted
Reflections: Millionaire Next Door Myth #4: Used Cars Read More »
Automotive News recently reported that two-thirds of new car buyers walked “ice cold” into the dealership where they bought their car. The others took the initiative by contacting the dealer first. In another article more than half of new car buyers indicated that the number one problem with their purchasing experience was “dealing with a salesman.” Most of these
Millionaires Buy Cars from Extraordinary Sales Professionals Read More »
Here is a short piece about an interesting article published in The Chronicle of Higher Education, i.e. “Ph.D. Attrition: How Much is Too Much?”. The subtitle of this article is indeed telling: A disturbing 50 percent of doctoral students leave graduate school without finishing. How can this be possible? The large majority of doctoral students
Big Intellect, Little Discipline, Little Achievement Read More »
Webster’s defines courage as “the response of facing and dealing with anything recognized as dangerous, difficult or painful; the courage of one’s convictions, the courage to do what one thinks is right. And courage is the hallmark of great leadership. Tomorrow marks the 50th anniversary of the March on Washington. Then, and in many other
Dr. King, Leadership and Courage Read More »
Given his less than stellar academic background, W.K.’s job prospects were limited. Consequently he realized that he would have to become his own employer. In that way he would be evaluating his own job application. Today he is quite successful as a self employed mortgage broker. According to W.K.,43, not one of his $1.7M of net worth ever asked
SAT 800s; GPA 2.5; Wealth $1.7M Read More »