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Talented People Are Attracted to Those with Great Integrity

Posted on September 23rd, 2014

Once again the importance of the integrity factor in explaining socioeconomic success was highlighted in a recent New York Times profile of Eileen Ford, the founder of the famous Ford Modeling Agency.Ford Models became "the top agency in the world."  Yet Mrs. Ford often was credited with saying that she had no talent but that she excelled in identifying those who possessed a lot of it.  Many of America's great leaders were never selected for the talented and gifted programs in school or honors programs in college.  And most never scored big on SATs, GMATs, GRE, etc.  But most of them had vision...

Integrity, The Bedrock of the Road to Success

Posted on September 2nd, 2014

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 in America. ...

Why Are the Rich Rich and the Poor Poor?

Posted on August 26th, 2014

"Why are some people poor and others rich?" The answer to this question was the focus of a national survey of 1,504 adults conducted earlier by the Pew Research Center.  Only about 4 in 10 (38%) of the respondents indicated that the rich are rich "because he or she worked harder than others." But how do millionaires, the people who are actually wealthy, explain their own economic success?  Nearly 9 in 10 (88%) rate "hard work" as a very important/important factor.  [See for example Table 2-1, Millionaires' Success Factors, The Millionaire Mind]. In the same Pew study, 51% of the respondents were of...

Enlightened Parents Teach Their Children the Benefits of Independent Thought

Posted on August 19th, 2014

Do all high income producers have high job satisfaction? No! But the ones who do are significantly more likely to agree with the following statements concerning their parents:1. Encouraged me to think outside the box.2. Taught me to never follow the crowd.3. Encouraged me to take leadership roles.4. Encouraged me to be proactive, to take the initiative.5. Often told me "you will be a success." 6. Taught me about the importance of saving and investing.7. Encouraged me to earn my own spending money.Success Factor 7 in The Millionaire Next Door states that "they chose the right occupation."  This is...

Independence Day Physician Revisited

Posted on June 30th, 2014

In honor of the Fourth of July I'd like to reflect upon the content of a previous blog (see below). When it was posted several people misinterpreted the message.  The physician profiled is anything but mean spirited in regard to the significant number of dollars he pays in income tax.  He believes that "if you're paying a lot of income tax you're making a lot ...

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