I have found that wealthy people who have a modest consumption life style tend to be generous in giving to noble causes. The following profile of John Adu (Australian Down Under) is yet another example of this. I have been unable to escape the uncanny similarities between my own circumstances and the things described in your books. …
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 …
Are you frustrated about the way your career is unfolding? Perhaps you are not achieving what you should be given your hard work and discipline. If this is the case you may wish to read the perennial bestseller, The Magic of Thinking Big, by Dr. David J. Schwartz. Dave and I were on the marketing …
How do I go about finding many of the millionaires that I profile in my books. I read their trade journals. So, that’s like The Wall Street Journal, right? Not really. I am referring to publications that target members of well-defined industries. You may recall my profile of Bill R. that was in The Millionaire …
The cost of housing is often a major barrier to becoming financially independent. That’s why Ms K.S. might consider becoming her own landlord, as did Brian. But “just follow the rules.” And as I wrote in The Millionaire Next Door: To build wealth, minimize your realized (taxable) income and maximize your unrealized income (wealth/capital appreciation …
Last Sunday, a church in our neighborhood sponsored a sandwich drive. Members and their friends who volunteered made 12,000 bologna and cheese sandwiches for homeless people in the downtown area. About half of the people who participated included families with young children. This is a great learning experience for youngsters who are part of middle class America. It teaches them more …
How do I categorize millionaires who inherited all or most of their wealth? I do not consider them to be fortunate. Actually, I think of them as being deprived. They were deprived of the great pride, joy and satisfaction derived from building one’s own fortune. Countless millionaires have told me that it is the journey to wealth …
Among the millionaire types profiled in Part I, what are some of the occupational groups that tend to have higher wealth indices than the norm? Some of these include: self-employed business owners (non-retail); executives of privately held corporations (see: The Millionaire Next Door); educators (and those married to an educator, see Stop Acting Rich, pp. …
Recently, Dave Ramsey magnanimously invited me to be a guest on his show. During the interview, Dave asked me about the changes I had noticed among Americans since the recent economic meltdown. One of the changes I mentioned was the precipitous decline in the number of people who advised me that “$1 million (in net worth) – …
Why do I write about rich people? It’s not for the benefit of rich people. What I write is designed to benefit those who are confused and misinformed about what it means to be rich. Most Americans have no idea about the true interworkings of a wealthy household. The advertising industry and Hollywood have done …