This fall marks the 15th anniversary of the publication of The Millionaire Next Door. The book was not developed in a vacuum. I had a variety of great mentors who influenced me. These mentors include those whom I have known personally, such as professors and business contacts, and those about whom I have only read. Early in […]
The Millionaire Next Door Turns 15! Read More »
This comes from ConsumerismCommentary.com about Steve Jobs: Despite some fancy homes that often went unused and a moderately flashy car, Jobs seems to have taken the ideology of The Millionaire Next Door to heart. He continued to live his life mostly as he always had, not flaunting his wealth and not drawing too much attention
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Melissa from Scotland contacted me about a BBC news article which mentioned that a Scottish midwife, Jean Alexander, had left 1.6M pounds to a multiple sclerosis charity. The article mentioned that Ms. Alexander was considered to be a shrewd investor in the stock market. I suspect that she was not only shrewd, but also generous and lived below
The Millionaire Next Door: Light on Consumption, Heavy on Giving Read More »
In the previous blog, I reflected upon the millionaire next door’s Rule #2 for building wealth. I’d like to thank Mr. “Cropmate” for reminding me of this concept. In an Amazon book review for Stop Acting Rich he stated: I first heard of him [Stanley] and his then new book [The Millionaire Next Door] from an excerpt in a
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As a prelude to writing The Millionaire Next Door, I published an article in Medical Economics entitled “Why You’re Not as Wealthy as You Should Be.” Simply put doctors could and should accumulate much more and at a much younger age. In the same article, I pointed out that for every one high income producing doctor
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As of March, 2011, “there were 1.7 million active poker player accounts in the US from players wagering around $14 billion a year online” (see The Wall Street Journal). A lot of these players must feel that they can gamble themselves into millionaire status. And who can blame them? Cable television relentlessly glorifies gambling and constantly associates poker playing, especially,
“Any Economically Successful Man Doesn’t Gamble” Read More »
In a recent article in The New York Times, Andrew Ross Sorkin explored Steve Jobs’ motivation for success. Mr. Jobs has clearly never craved money for money’s sake and has never been ostentatious with his wealth. He took a $1 a year salary from Apple before stepping down as CEO. . . . Mr. Jobs, a
The Motives of Millionaires. . .Billionaires Read More »
Riddle: Why did Mr. Lee, a business owner of the millionaire next door variety, decide not to attend his high school’s 25th reunion? Answer: Because he felt very uncomfortable at the 20th reunion! At that reunion, Mr. Lee constantly had to explain how he, “Mr. Average” in high school, had become a major socioeconomic success. In
The Millionaire Next Door- Absent from His High School Reunion Read More »
In the Across the USA section of USA Today a recent item from Athens, Georgia conjured up some past emotions about my alma mater. It mentioned that millions of items were in the process of being moved from The University of Georgia’s main library to a new building which will house special collections. I hope that my
Abraham Lincoln: The President “Next Door” Read More »
Thanks to the “Poet Hound” at http://poethound.blogspot.com/ for her review of The Millionaire Next Door and her insightful comments about the book’s influence upon her life. Among the earliest adopters of the book were millionaire parents/grandparents who gave copies to their children/grandchildren. They did this so that these young people could understand and appreciate the traditional value of being financially
The Millionaire Next Door: A Poet’s View Read More »