The Millionaire Next Door

The Millionaire Mind

The Luxury of Indiscriminate Spending

Think about items that could be passed down to the next generation: jewelry, artwork, a treasured photograph, or a favorite book. What about the luxury of not being frugal? The luxury to buy whatever one wants? Are affluent parents passing down that “luxury” unknowingly? For those not fortunate enough to inherit large lump sums or …

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Leadership 101, 102 . . . etc.

The arch type millionaire next door is an economically successful self employed business owner.  In other words, he is an employer not an employee.  He is in essence a leader.  This fact has much to do with understanding something important about millionaire business owners.  There is little or no significant correlation between cognitive intelligence test scores …

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Needed: College Admission Measures that Judge Success in Life

A headline in last week’s Wall Street Journal indicates a step in the right direction for college admission criteria: “Colleges Put the Emphasis on Personality: Some Shift Focus Away from Test Scores in Deciding Which Students to Admit” Yet even adding measures of perseverance, adaptability and discipline to the college admission process is not enough.  …

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Where Did the Designer of Your Car’s Engine Attend College?

Thank you, Mr. S.Y., for your recent 5-star review of The Millionaire Mind.  In it you succinctly explained the book’s theme, focusing on the key table [Table 2-1] “Millionaire Success Factors.” . . . least important (success factor) . . . graduating near/at the top of my class.  (ranked 30th of 30 factors) This component is …

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Most Millionaire Business Owners Never Sell to the Ultimate Consumer

The arch type millionaire is a self employed business owner/entrepreneur.  Thus it is not surprising that many people ask, “But what type of businesses do they own?”  To these readers I say, “Well, take a look at the 6 columns of business types listed in Appendix III in The Millionaire Next Door and the 12 columns …

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Integrity, The Bedrock of the Road to Success

Here’s an assignment designed to enhance the future socioeconomic productivity of your children, grandchildren, etc.  Turn to Page 34 in The Millionaire Mind, Table 2-1 “Millionaires’ Success Factors.”  There you will find thirty success factors ranked in importance by a national sample of 733 respondents who represent a fraction of the top 1.0% of wealth holders …

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