Waiting tables, mowing lawns, babysitting, retail sales, camp staff, stockroom: how many of these summer jobs did you have in high school and college? What about the teens you know – are they working this summer? When I saw the headline that retail jobs that once filled the time of teenagers looking to make money […]
The Great American Summer Job Read More »
If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in last week’s Wall Street Journal wove an
Consumption: Full Speed Ahead Read More »
As we progress through this election cycle I am having a bout of deja vu. We’ve been here before. Back in 1996 we were watching another election cycle that involved the Clintons–Bill Clinton versus Bob Dole versus Ross Perot. We were also seeing increased technology addiction (chatting on dial-up ISPs), and feeling as if threats
On the 20th Anniversary of The Millionaire Next Door Read More »
My brother and I grew up on healthy doses of Led Zeppelin, The Rolling Stones, and Eric Clapton, to name a few. My father had these artists on vinyl albums, tapes, and later, CDs. Now that he’s gone, I smile when I hear “Gimme Shelter” or “Tangerine,” remembering him with bittersweet emotions. My father respected
Respect for The Classics Read More »
Think about items that could be passed down to the next generation: jewelry, artwork, a treasured photograph, or a favorite book. What about the luxury of not being frugal? The luxury to buy whatever one wants? Are affluent parents passing down that “luxury” unknowingly? For those not fortunate enough to inherit large lump sums or
The Luxury of Indiscriminate Spending Read More »
Next year will be the 20th anniversary of the publication of The Millionaire Next Door. It keeps on selling! In fact there is a seasonal component in terms of demand for the book. Why is it that sales seem to be highest the first few weeks after the Christmas/New Year’s festivities? I believe that many
Stay Financially Fit All Year Long Read More »
“Why are some people poor and others rich?” The answer to this question was the focus of a national survey of 1,504 adults conducted earlier by the Pew Research Center. Only about 4 in 10 (38%) of the respondents indicated that the rich are rich “because he or she worked harder than others.” But how
Why Are the Rich Rich and the Poor Poor? Read More »
Most millionaire next door types and those on their way were raised in a nurturing environment filled with harmony, mutual respect, discipline and frugality. As an example please review the following case study from one of my readers. While still in high school, my parents had both my brother and I read The Millionaire Next
Young CPA Lives by the Principles Found in The Millionaire Next Door Read More »
The national sample of 733 millionaires, the base for my book The Millionaire Mind, is representative of a fraction of the top 1% of wealth holders in America. Out of the 30 success factors they rated, integrity and discipline ranked in a tie for first place. It is hard to overemphasize the importance of discipline in
Millionaires With Marine Corps Discipline Read More »
As I stated in The Millionaire Mind, Integrity is a part of life’s curriculum. It is a pass/fail course. If you lack integrity, most millionaires will tell you that will not and should not graduate to economic success. The millionaires surveyed became rich without compromising their integrity. In fact, they credit their integrity with significantly
Use Your Creative Intellect Wisely Read More »