A Personal Finance Favorite for the Holidays!Posted on December 16th, 2014
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 personal finance. Readers mentioned dozens of books as being among the best on investing and personal finance, but there were a few authors and titles that cropped up repeatedly. One of the books mentioned most often by readers was The Millionaire Next Door: The Surprising...
Where Did the Designer of Your Car's Engine Attend College?Posted on December 9th, 2014
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 one of three that make up the Intellectual Orientation domain. The others include : "having a high IQ/superior intellect" (ranked 21st) and "attending a top-rated college" (ranked 23rd).Only 5.0 percent of millionaire business owners and 8.0 percent of senior corporate executives rated "graduating near/at top of my...
The Millionaire Next Door Prescribed for Pharmacy Students!Posted on December 2nd, 2014
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 a very demanding pharmacy curriculum in college. In their case college taught them how to make a fine income. But, as I said in my list of wealth building commandments, college does not teach people how to build enough wealth to become financially independent. In America, based on...
Black Friday SalesPosted on November 25th, 2014
Where can you find the millionaire next door on Black Friday? At work!
Most Millionaire Business Owners Never Sell to the Ultimate ConsumerPosted on November 18th, 2014
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 in Appendices II and III in The Millionaire Mind." It is ironic that few people even after reviewing these lists see what most successful business owners see. The large majority of the businesses listed do not sell products and/or services to the ultimate consumer. They...
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