A woman contacted me soon after Stop Acting Rich was published. She reflected upon the discussion in the book about how productive educators and engineers were in transforming income into wealth. She asked, “What about an engineer who is also an educator?” She was talking about her husband, a 60 year old mechanical engineering professor. […]
Even More Frugal Than One Engineer Read More »
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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A recently published article in The Wall Street Journal indicated that nearly 15% of “homeowners” with outstanding mortgage balances of $4M or more were at least 90 days overdue in their payments. That is nearly twice the rate for all home loans. In America today there is growing number people of the “big house, no cattle”
Big House; No Cattle Read More »
What is the most often asked question regarding the material contained in my latest book, Stop Acting Rich? “When the economy improves will people give up the frugal habits they adopted during the most recent economic meltdown?” Most of the people who ask this believe that frugality is here to stay. But I am of a
The Vanishing Frugal Lifestyle Read More »
A Message from Bob: Your books are great! Eight years ago I was browsing in a bookstore and picked up The Millionaire Next Door. I began skimming through it and quickly said to myself – this guy is writing about me! I was early-fifties, owned my own business, had no credit card debt, paid cash for
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Last week while I was in the middle of crunching numbers from the IRS estate data, my phone rang. Jerry, a friend of a friend, immediately began sharing his concerns about his “real estate situation.” Jerry is a computer programmer, and his wife is a part-time dental technician. The couple’s annual adjusted gross income is
Stop Acting Rich: The Median Millionaire Read More »
In my last blog, Stop Acting Rich: Good Advice from a Frugal Engineer, I mentioned that even some decamillionaires (9%) mow their own lawns. Most do so because they enjoy doing it. Plus it is good exercise. But there can be certain drawbacks associated with mowing grass. Such visual do-it-yourself activities and behaviors are often
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I recently received an e-mail from an engineer whom I’ll call Mr. SC. I’d like to share his story with you. My wife and I have achieved multi-millionaire status by the very means Dr. Stanley has found in his studies. I perform the vast majority of tasks that most Americans would think a millionaire would
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In a previous blog, Stop Acting Rich: Follow Harry’s Lead, I mentioned a fund raising event that I had attended. I was invited because I had volunteered my expertise about how to market to millionaires. However, several of the other patrons of the school’s construction fund who were in attendance were all quite wealthy, like Harry. But
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While recently attending a fundraiser for a local school, I was introduced to a very wealthy gentleman I’ll call Harry. The head fundraiser for the school told that he is the number one contributor to the school’s construction fund. Plus Harry is a top ten poultry producer in America. His success is often documented in a variety
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