The Millionaire Next Door

real estate

Trading on Anticipated Future Wealth: Homes & Cities

A recent article in The Boston Globe highlights the issues Bostonians are considering related to purchasing homes in affluent areas. The piece recites a financial-planning principle: “A bit of perspective: In many parts of the country, the rule of thumb is that housing costs should occupy a third of one’s income. Here, that standard frequently …

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Working for Those Aha Career Moments

  by Sarah S. Fallaw, Ph.D., Director of Research, AMI Research  Many successful people report having moments of clarity or EUREKA! experiences when it comes to business opportunities. In fact, 29% of millionaires reported stumbling across a great business opportunity as part of their career path, and 39% reported using intuition for business ideas (see …

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Second Homes… Part I

A recent Wall Street Journal article indicated that a variety of developers of expensive vacation homes are responding strategically to the meltdown in their market.  In short, they are providing vacation home opportunities of the downsized variety.  “. . .building smaller less expensive homes in resort communities. . . this pitch may sound a little funny: ‘affordable housing for the …

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Another Reason to Stop Acting Rich

Most of the millionaires whom I have interviewed understate their true wealth. They get little satisfaction from displaying expensive artifacts which are suppose to define success in America.  But there is another important reason for not conspicuously broadcasting one’s net worth.  It has to do with issues of safety and security.  Take for example the comments made by …

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All Stars of Consumption

Is being frugal fashionable today? Perhaps, considering the severity of the economic times. The more important question is: how long will it be fashionable? The following is an excerpt from my new book, Stop Acting Rich, highlighting the focus on hyper-consuming, highly compensated members of our society and their spending habits. America is a nation of excesses. And these excesses, …

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