Ideal Location for The Millionaire Next Door: College Town USAPosted on December 3rd, 2013
What a weekend for college football! [As a side note I always thought that college football is a better product than what is offered by the NFL.] But when I watch a collegiate game, no matter how exciting, I can't help thinking beyond the gridiron. University towns often provide an ideal environment for small business enterprises. The cultural amenities that are the fabric of these communities rival those found in larger cities. But generally the cost of living and perhaps, more importantly, the cost of human resources are significantly less. College towns are filled with a variety of young scholars who make outstanding workers. And...
Black Friday Blues and Bologna RevisitedPosted on November 26th, 2013
No one ever got rich by camping out for two or three days to be first in line for Black Friday sales events. Or as I said in an earlier blog:Two days camping out in line, that's 48 hours or nearly 5 times the number of hours a millionaire next door allocates per month to planning and managing his investments. The correlation is simple. The less you shop the less you spend. Never regret missing out on a so-called "sale."I recently went back and reviewed the essays written by 313 self employed millionaire business owners. The topic was: suggestions about how...
Opportunities to Prosper in Land of the FreePosted on November 19th, 2013
In the Declaration of Independence Thomas Jefferson succinctly specifies the rights of individuals: We hold these truths to be self evident, that all men are created equal, that they are endowed by their Creator with unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. We as Americans have in essence been given the opportunity to grow, to achieve, to prosper and of course to build financial independence. Given this blueprint, it is no wonder that so many people in countries all over the world have lined up to immigrate to America throughout her history. Jefferson was a scholar of human rights as...
CPA: The Millionaire Next Door's #1 AdvisorPosted on November 12th, 2013
Mr. Arrow was profiled in my last blog. How much does Mr. Arrow charge for his financial advice? There is never a charge. Actually he gets great satisfaction out of helping his physician clients. He never read my book, Networking with the Affluent, nor has he reviewed the material on the audio version, Networking with Millionaires. If he had he would have found that there are actually 8 faces of networking with the affluent and their advisors. Mr. Arrow personifies face 4, The Mentor. Most millionaire next door types employ a CPA who provides more than traditional accounting services. If I were...
Millionaire Mentors His ClientsPosted on November 5th, 2013
Physicians are among the least productive occupational groups in transforming their incomes into wealth. Keep this in mind when you read the following case study. Mr. Arrow, who has a degree in pharmacy, is employed by a large pharmaceutical company. Part of his job description is to interface with physicians and surgeons. Unlike many others who call upon physicians, Mr. Arrow usually does not have to wait very long in their waiting room. Why do so many of his physician clients have a keen interest in speaking with him ahead of others? It is because he provides them with more than information about his core...
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