In the year prior to our economic meltdown, 16 million passenger vehicles were sold in the United States. This year I estimate that less than 12 million will be sold. Certainly this is a serious decline. In spite of this decline, I believe that some people can still make a good living selling cars and a lot …
In an earlier blog, I mentioned that the typical Balance Sheet Affluent (millionaires) had an annual realized household income of $89,167 (median) when he first became a millionaire ($1 Million: Something or Nothing? Part I, and Stop Acting Rich, pp. 17-29). In other words, one half of the BAs had incomes that were less than this figure. What …
In what types of careers do we find the balance sheet affluent, the millionaires next door? Many take an unconventional approach. Below is one of my favorite stories about careers, adapted from Millionaire Women Next Door. Marion was trained to be sensitive to opposing viewpoints and countertrends. Being different in thought and deed was something to be proud …
Consumer indulgences do not make one wealthy. In fact, they are substitutes of wealth, not complements. I once had an interesting experience while presenting these and related facts to a group of fund-raisers from colleges and universities, hospitals, youth groups, and a variety of eleemosynary organizations which were responsible for identifying prospective donors. I explained …
Supreme Court nominee, Sonia Sotomayor, though not a millionaire, is typical of most successful women, as well as men. In my surveys, about 80% of both reported having a nurturing and loving home environment while growing up. In fact, 89% reported that their parents were never divorced. This does not mean that you cannot succeed …