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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (4106)	7/20/1999 9:24:00 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 54805

I started reading "The Millionaire Next Door" last night. I should help me better understand our G&K threadmates <g>. Not necessarily. It's a good book, but it basically explains that most millionaires got that way by being misers (as opposed to being Merc-driving plastic surgeons or tech-stock investors). Lots of great stats on JC Penney charge card ownership among millionaires and how cheap their watches are. Favorite decimillionaire quote: "I only drink two kindsa beer: Bud and free."

To: Uncle Frank who wrote (4106)	7/20/1999 9:53:00 AM
From: LindyBill	Read Replies (2) \| Respond to of 54805

There's only 4 hours 46 minutes between your final post last night and your first post of today. Did you have to use an alarm clock to wake up? God, Unc, you are worse than my Mother! Yeah, I usually get back from dancing about 1am, and get to bed about 2am. Get up at 6:30am, normally, (at our age Frank, we don't need alarm clocks, our bladder is a built in one!), get on the computer doing the books, and riding the web, get down for a nap from 3pm to 5pm, sell cabs from 6 to 9, setting at my prospects Kitchen Table, (remember the movie "Tin Men", that's me), Then back to the "Derby" to dance the night away. I started reading "The Millionaire Next Door" last night. I should help me better understand our G&K thread mates I have not finished the book yet. I think what we have in common is the ability to spend less than we make, and a high % of us are in business for ourselves. You need to be able to avoid taxes to make a pile quickly, IMO. I don't think most of us buy our suits off a rack at Penny's, and drive used cars, like the people in the book, however, we are conservative. The book, "The Richest Man in Babylon", is still an excellent guide to get people on the road to success. "Pay yourself first" is the concept. I could not do it. I was never able to save while raising a Family. I started out, as you guys know, 7 years ago at the age of 56. That is one reason I was more aggressive than most. I knew I had to make it fast. What I did the last 7 years was up my income, hold my expenses in check, and invest the difference. I should have saved even more. I spend my time selling people cabinets who live in brand new gorgeous homes that cost from 350K to 3 million, and always leave shaking my head. I have two ladies that will be in today to clean my house, which I have owned for 35 years. I look at these bigger places, and think, " what would I do with this place, hire 4 women to clean it?" These are the kind of people that the book talks about as never having any wealth. They live to the limit to be in a status house. I buy new cars now, and I love my STS, but I will drive it into the ground before I buy a new one. My last new car, a Grand Marquis, is now my son's company car. He got it when I had over 250k on it, and it is still running well.. I suspect that a lot of the young people on this board are too penurious. Hey, enjoy it along the way!