The Millionaire Next Door

millionaires

Shopping on Black Friday

Black Friday Perspectives from Millionaires

Black Friday, from both a marketing and psychological perspective, was of great interest to my father, so much so that we included a question about it on the last survey we conducted on wealthy Americans for The Next Millionaire Next Door. Below is a roundup of some of the writings he and later I published …

Black Friday Perspectives from Millionaires Read More »

What Millionaires Do Post-Election Night

By becoming engrossed in ongoing competitions, you’re necessarily taking time and emotional energy from something else: your business or education or some other productive activity. The Next Millionaire Next Door One of the keys to economic success is focusing your cognitive and emotional energy towards valuable activities: managing and caring for your household finances, improving …

What Millionaires Do Post-Election Night Read More »

Emigrating Chinese Millionaires -Not Next Door!

Google “China’s millionaires” and you will find an array of articles that focuses on two issues related to this population.  One, entitled “China Now Has More Millionaires Than Any Country but the US,” states that the millionaire population in China rose by an astonishing 82% between 2012 and 2013.  There are approximately 2.4 million millionaire households …

Emigrating Chinese Millionaires -Not Next Door! Read More »

Fantasies of Wealth; Misinterpreting the Data

A couple recently asked me about the relationship between home ownership and net worth. They are contemplating buying their first home.  “In your books, Tom, you mention that nearly all millionaires are homeowners . . . approximately 95%.”  Most homeowners, however, are not millionaires.  And no one is going to hand you a check for seven figures when you close …

Fantasies of Wealth; Misinterpreting the Data Read More »

A Wealth Incubator

I recently asked nearly 1,000 millionaires nationwide “What was your first full-time job?”.  Out of those 1,000 respondents, 137 answered, “sales/marketing professional.”  In fact, this proportion places the “sales/marketing  vocation” as the #1 first full time job.  Does this mean that people in this profession have a significantly higher probability than those in other jobs …

A Wealth Incubator Read More »