The Millionaire Next Door

income statement affluent

Manhattan, Palo Alto . . . Consider the Cost of Living!

In a recent blog I profiled Ken, a second generation millionaire.  His observations generated numerous responses.  Many of these came from New York and California-based respondents who said essentially that there are no homes in the mid-$300,000 range in their chosen geographic environment.  In fact, the wife of a recently minted medical doctor complained that the couple was “forced” …

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A Cultivator of Wealth

Have you ever wondered about why so many millionaire next door types understate their considerable socioeconomic success?  They don’t have a strong need to display their economic productivity by buying  luxury products and expensive homes.  In a major way, their real achievements are the badges of their success. For example, financial success, especially economic independence, is its own …

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Living Among the Income Statement Affluent

Daniel wrote an insightful comment about my blog entitled Stop Acting Rich: Do-It-Yourself.  He mentioned a case study from The Millionaire Next Door about a man I had interviewed called Mr. W (see pp. 241-246).    Mr. W was a very wealthy self made entrepreneur who often bought or invested in distressed real estate.  Mr. W detailed an episode that happened to him after …

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$1 Million: Something or Nothing? (Part II)

Among the millionaire types profiled in Part I, what are some of the occupational groups that tend to have higher wealth indices than the norm? Some of these include: self-employed business owners (non-retail); executives of privately held corporations (see: The Millionaire Next Door); educators (and those married to an educator, see Stop Acting Rich, pp. …

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