If you are the mother of small children, or a working mom, or a woman who needs a mental escape from your busy day, the idea of having a place all to yourself is appealing. The latest in ultimate escapism is aptly called the “she shed,” discussed in depth in the Wall Street Journal. In […]
The Ultimate in Alone Time Read More »
If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in last week’s Wall Street Journal wove an
Consumption: Full Speed Ahead Read More »
Recently a fellow asked me about my impressions of French economist Thomas Piketty’s new book, Capital in the Twenty-first Century. I have not read the book, but I’ve read comments about it including a recent interview with the author. He postulates the existence and forecasts the growth of inequality in terms of the concentration of wealth and income. In
America: Where Millionaires are Self Made Read More »
In The Millionaire Mind I wrote: . . . key success factors our economy continues to recognize and will continue to reward: hard work, integrity. . . . It seems that at least once a week during the last ten years, I have read published news stories and editorials claiming that economic opportunity in America is
Socioeconomic Mobility on the Wane? Au Contraire! Read More »
In terms of public relations the bad news continues for Russia. It has recently been revealed that the concentration of wealth in Russia is by far the highest of all major nations in the world. In a recent blog, I cited a report by Credit Suisse which indicated that 110 households own a staggering 35% of personal wealth
Russian PR Nightmares Continue. . . Read More »
Wall Street recently lost one of its greatest investment gurus, Dr. Martin Zweig. His obituaries were published prominently in both The Wall Street Journal and The New York Times. His accomplishments were many. On the Friday before the Monday stock market crash of 1987 he predicted “crash” on TV’s Wall Street Week program. Also The Zweig
Part-time Hobby, Full-time Wealth Read More »
The national survey which served as the base for The Millionaire Mind represented a fraction of the top 1% of the wealth holders in America. Some of the myths about these people are that they were all straight A students, scored at the top on the SAT, attended elite private schools, etc. The average SAT score for the sample was 1190. Their
College Ranking Not Among Millionaires’ Key Success Factors Read More »
The holiday shopping frenzy begins this week! Therefore I thought it might be a good time to run a blog from last year entitled Black Friday Blues. The theme of the blog is that in most cases the retail prices on popular consumer products are not at their lowest the Friday following Thanksgiving. Certainly there are some
Bologna on Black Friday! Read More »
RE: Toll Collectors on the George Washington Bridge According to the Wall Street Journal, . . . some toll collectors make more than $100,000 [annually with overtime] This is the equivalent of more than two and one half times what the typical American worker earns. But toll collectors are not the only blue collar high income
Are Toll Collectors on Your Prospect List? Read More »
State death taxes are economically self defeating because tax return data confirm that the wealthy in America often arrange to die tax free in states like Florida and Texas. So says an editorial in The Wall Street Journal. The editorial cites the research on this topic conducted by economist Arthur Laffer. Much of the discussion
Millionaires: Florida Beats New York Read More »