harold wolfinger: harold’s blog

have been enjoying a number of blogs lately about careers, investing and other financial/business matters. between these (along with a few others also) and my hiphop fix, i have appreciated the time and effort that people have put in making this information available.

unfortunately, the way this system is set up, in working as an employee it is–though i wouldn’t say extremely–difficult to achieve wealth. yesterday i googled “top 1% own wealth” to find out the figures in this country and i was amazed. excluding home equity, many people have next to nothing in assets. it is a rare accomplishment for someone to retire with $50,000 in the bank. how can we work all our life and end up with so little?

many moons ago i read the millionaire next door. besides the basics of living modestly, paying ourselves first and saving regularly, building our credit score, investing in index funds, proper asset allocation, and even beyond more “sophisticated” (for some) methods of direct stock investment, DRIPS, deposit receipts, REITs and other things, this book showed how many people developed wealth through business ownership. i appreciated it then and i am looking forward to reading it again (if it would get returned to the library!).