The Millionaire Next Door

Millionaire Next Door Stories

One Man’s Junk, Another Man’s Treasure

Most millionaire next door types are contrarians.  They think and act differently.  They are savers and investors in a population of hyper consumers.  Plus most have high creative intelligence.  This helps to explain why many of them are in niche, backwater, low status type businesses where competition is light or nonexistent.  In addition, as stated in The Millionaire Mind, four …

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Freedom of Choice More Valuable than the Crown Jewels

Tomorrow there will be a “royal” wedding in London.  I wish the couple much happiness.  However, I do feel somewhat sorry for them because their entire life together has already been scripted for them.  I don’t envy the fact that these people will never be able to encounter self made socioeconomic mobility.  In sharp contrast, even …

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Stop Acting Rich: Live like Mrs. Johnson

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, …

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Tony’s Reflections of a Millionaire Next Door

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 …

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Teach Your Children Well: Case Example

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 …

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