What if you are contemplating marrige and you have outstanding debts? Honesty is the best policy here. You should advise your future spouse about your financial situation and you’d be smart to discuss further your proposed way of eliminating this debt. I am reminded of this fact by Doug who shared his life changing moment: […]
Honesty is the Best Marriage Policy Read More »
Americans are constantly bombarded by the news media that uses the term “the market,” i.e. the market is up, the market is down, it is a good time to invest in the market. With the current surge in the stock market it is easy to forget that it’s not the only market in our economy.
The Top Ten Assets Owned by Millionaires Read More »
As stated in The Millionaire Mind, a distinguished scholar told me just before I graduated: If you don’t publish you may not get tenure at a good school. But you will have a lot of friends. Publish a lot and you will not be real popular among your colleagues. I was reminded of this when I received
Lots of Wealth, Lots of Discipline Read More »
A few weeks ago, readers of my blog and AMI panelists were asked to recount their “ah-ha!” moments as part an ongoing research effort examining wealth building in America. We appreciate the honesty and courage that many of you exhibited in sharing your stories and how they changed your lives. Nearly 250 of you participated
A couple recently asked me about the relationship between home ownership and net worth. They are contemplating buying their first home. “In your books, Tom, you mention that nearly all millionaires are homeowners . . . approximately 95%.” Most homeowners, however, are not millionaires. And no one is going to hand you a check for seven figures when you close
Fantasies of Wealth; Misinterpreting the Data Read More »
There are more than flowers blooming at this time of the year around Atlanta. Graduation banners are popping up in nearly every subdivision in my community. CONGRATULATIONS TO THE CLASS OF 2013 they read, followed by a list of the graduates and their prospective colleges. What advice would I give to these students, if asked? Many
College Freshmen. . . Tomorrow’s Winners Associate with Today’s Achievers Read More »
During the past two years J.C. Penney has implemented a dramatic change in its marketing strategy. It called for greatly reducing the number of coupon/special on sale pricing and related promotional methods. Its old method was replaced with the so-called stable, every day price point method. And, according to The Wall Street Journal, this new strategy called for
The Millionaire Next Door: a J.C. Penney Fan Read More »
In an earlier blog post, we discussed how career experiences, both successes and failures, can lead to moments of clarity (Working for those Ah-ha! Career Moments, August 2012). This post highlighted the fact that many successful millionaires have a wide range of experiences that help them determine a successful career path. Of course, a life-changing
Your Ah-ha! Moment Read More »
A recent newspaper headline proposed that “the best way to get rich is the stock market.” Building wealth via stocks or other investments is akin to growing trees. You can’t grow oak trees if you don’t have enough money to buy acorns. So, suggesting that the stock market leads to wealth is putting the cart
Stocks: Not the Only Bull Market Read More »
Two recently published articles caught my attention. And, bear with me, they are related! In the first one, Bob Dudley, the well respected CEO of BP, is quoted: Employment is difficult in many places. But anybody who goes through petroleum engineering, chemical engineering there will be jobs for them. . . . . . .
The Millionaire Next Door. . . An Academic Entrepreneur Read More »