The Millionaire Next Door

The Millionaire Next Door

Trading on Anticipated Future Wealth: Homes & Cities

A recent article in The Boston Globe highlights the issues Bostonians are considering related to purchasing homes in affluent areas. The piece recites a financial-planning principle: “A bit of perspective: In many parts of the country, the rule of thumb is that housing costs should occupy a third of one’s income. Here, that standard frequently …

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A Personal Finance Favorite for the Holidays!

In the last few weeks a variety of articles have popped up recommending books on financial topics as gifts this holiday season.  I was especially pleased to read Adam Zoll’s Great Book Ideas for the Investor on Your List on Morningstar.com.  I understand that Morningstar readers were asked to indicate their favorite books on the topics of investing and …

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The Millionaire Next Door Prescribed for Pharmacy Students!

While  waiting at the pharmacy in a large supermarket recently, I saw 5 or 6 young pharmacists working very hard filling prescriptions, taking orders, and consulting with customers.  Yes it is hard work, but they are very well paid (nearly twice the median income of an American household).  Typically these pharmacists spent 5 years in …

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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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Wealth Means Independence, Self Determination and Control of One’s Life

Here is an extraction from a review of The Millionaire Next Door.  The writer [Mr. M] clearly understands the benefits of being wealthy.    My wife and I are self-made millionaires, and we followed the principles outlined in this book. Wealth means independence, self determination, and control of one’s life.  In the review Mr. M respond[ed] to one …

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