The Millionaire Next Door

financial independence

On Becoming The Next Millionaire Next Door

Is it possible to build wealth on your own? If you thought that becoming a millionaire next door today was impossible, I hope you can learn a bit more about the behaviors it takes to achieve financial success before deciding so. Here are a few more reviews and insights into The Next Millionaire Next Door.  …

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On the 20th Anniversary of The Millionaire Next Door

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 …

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Panning for the Gold in Life

Last fall we accompanied our six grandchildren to a gold/gem “mining operation” in the north Georgia mountains.  This was in celebration of one granddaughter’s 6th birthday.  I understand that this was the site of the first major gold discovery in America.  Guests of this operation “pan for gold” out of local sand and rocks placed in individual buckets.  Semi-precious stones are also …

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Millionaires: Next Door and in the White House

In The Millionaire Next Door I asked: What evidence is there that the government knows the formula for becoming financially independent in America? Our government studies “top wealth holders.” So do I.  And our findings are similar.  Millionaires live on the equivalent of a small proportion of their wealth.  They are heavy investors in commercial real …

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Happy People Count Their Current and Future Blessings

David, a straight “A” undergraduate student of mine, once invited me over to his apartment for his wife’s “famous Sunday chili dinner.”  While driving to his apartment, I realized that they lived in what could be called the “poor side” or “industrial” part of town.  He and his wife, both 23, had two small children.  David was the …

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Young Married Couples: Follow the Ways of The Millionaire Next Door

Love should be the basis for a long and happy marriage. But even deep affection can be tarnished if a couple does not share the same goals and objectives.  J and J, both 28, are getting married this fall.  He is an engineer; she is an accountant.  Neither have any debt. Their combined 2013 income will be nearly $150,000 …

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Option 3 for Stop Acting Rich-Part II

The cost of housing is often a major barrier to becoming financially independent.  That’s why Ms K.S. might consider becoming her own landlord, as did Brian.  But “just follow the rules.”  And as I wrote in The Millionaire Next Door: To build wealth, minimize your realized (taxable) income and maximize your unrealized income (wealth/capital appreciation …

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