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Building Wealth
Wealthy Feeling the Pinch Too
Apr 4th
I just spotted a Fortune article, “The Luxury Recession“. It is interesting to see the examples highlighted such as golf and yachts. However, several other areas should have also been considered such as:
- Luxury retailers such as Tiffany & Co.
- Luxury automobile sales
- Air travel with specific focus on private jet sales
- High-end United States home sales
On a personal note, my wife and I recently returned from a trip to Hawaii. We could already see the impact as high-end hotel rates are being discounted. In addition, the Hawaiian islands have also lost two major airlines with the recent bankruptcy filings of ATA and Aloha Airlines.
Wouldn’t it be nice to have this problem? If you’re not experiencing this problem, then it’s at least a nice distraction from reality.
The Forbes List
Mar 6th
Forbes just released it’s “World’s Billionare” list. Guess who is ranked #1 this year? If you guessed Bill Gates, you would have been right in previous years.
The first place honor belongs to Warren Buffet. Buffet’s fortune, according to Forbes, has swelled to $62 billion thanks to the performance of Berkshire Hathaway stock. I salute Mr. Buffet considering he is giving most of his wealth to non-profit and charitable organizations.
Speaking of Berkshire Hathaway, the company released it’s 2007 annual report. Buffet’s letter to shareholders is a definite must read for any entrepreneur or investor.
CNBC’s “The Millionaire Inside”
Feb 17th
I seldom watch television these days. When I do, I almost always switch to CNBC. One of the programs I noticed is one you may not have heard about yet. The “Millionaire Inside” is hosted by Erin Burnett.
Millionaire Inside is “…an exciting series, featuring an unprecedented roster of top money mentors. With each show, [their] money mentors address a different topic in building and maintaining wealth.”
When I first watched this show, they featured Donald Trump and branded the show as “The Billionaire Inside”. Erin essentially interviewed Donald in front of a studio audience asking him questions about his businesses, how he became a success, etc. Since then, the format has changed.
If you visit the Millionaire Inside website, you’ll see a series of topics with celebrity financial gurus such as Robert (Rich Dad) Kiyosaki, David Bach, Loral Langemeier, and many other notable celebrities in the personal financial arena.
This show does not appear to be a regular series. Instead, it is appears to be a series of special reports. I suspect CNBC is currently evaluating the popularity and demand for this show. In the meantime, if you don’t subscribe to CNBC, you have two options. First, you can order a DVD from CNBC; it contains the first four episodes. Second, I recommend simply browsing their website. The expert money mentors have posted their advice online.
Enjoy!
Want a Super-sized Salary?
Aug 22nd
I read a recent article on CNN sponsored by CareerBuilder.com and Robert Half International. Based on RHI’s 2007 annual salary guide, the following positions are among the highest paid professions in the United States:
- A Chief Financial Officer’s average starting salary is between US$88,250 and $358,750 excluding bonuses and incentives.
- A Director of Finance’s average starting salary is between US$88,500 and $184,000.
- A licensed attorney’s starting salary is somewhere between US$51,000 and $185,500.
Want a 4 Hour Work Week?
Aug 19th
I’m sure everyone does! Think about how different your life would be if you could have a lifestyle where you have the time, money, and health to do whatever you want, whenever you want. That sounds pretty good, right?
Recently, a friend of ours recommended reading The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich