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How to Marry a Millionaire – An Economic Update on the 1953 Film

August 15, 2010 By Leave a Comment
How to Marry a Millionaire

In 1953, a great movie starring Lauren Bacall, Bette Grable and Marilyn Monroe was released called How to Marry a Millionaire.  I got curious as to how much money it would take to equal the same net worth today so I did an inflation adjustment because I wanted to know how big their motivation was in the film. Turns out, someone who had $1 million in 1953 would have roughly $8 million today. That kind of asset base should generate cash dividends or interest of $34,000 per month without … [Read more...]

Filed Under: Economics, Movies Tagged With: , , , , , , , , , , , , , , , , ,

Response to What Is Probably the Most Ignorant Message I’ve Received In 10 Years of Writing Finance Articles

July 26, 2010 By 2 Comments

A reader named Medusa wrote me and, to keep it short, explained that I shouldn't believe people should be rich because the Bible is against rich people, that I was going to die a miserable, lonely old man with no one who loved me because I saved my money instead of spending it, and that after reading a profile I wrote based on Federal Reserve data of the Capitalist Class in the United States, she was starting to consider the possibility that the rich were nothing but oppressors who steal from … [Read more...]

Filed Under: Saving Money Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Mail Bag – How Does Someone Start Creating Passive Income?

June 13, 2010 By 8 Comments
Passive Income from Computers Have Changed the World in the Past 20 Years

Among the thousands of emails and messages I receive regularly, I came across one today that was sent to me on May 17th by Cale P. Here is the question that was posed: I'm a pretty talented IT professional with great salary and a standard quality of living. I've known that I won't be in IT for my whole career, at least I hoped. I have a natural ability to invent and I really would love to own private business(es) to see my decisions in a company flourish. However, I'm unsure of how or when … [Read more...]

Filed Under: Mail Bag, Making Money, My Businesses Tagged With: , , , , , , , , , , , , , , ,

The 5 Levels of Building Wealth

March 2, 2010 By 5 Comments
Scrooge McDuck Carl Barks Money Bin

Early in life, I developed a theory that there were five levels of building wealth that most self-made men (and women) go through to reach financial independence.  It was started by my love for Carl Barks Scrooge McDuck comics.  When I started reading the Federal Reserve reports of consumer wealth, empirical studies, and other sources of data, and discovered that 90% of those in the United States who are millionaires made the money on their own - that is, they did not inherit it - I … [Read more...]

Filed Under: Making Money Tagged With: , , , , , , , , , , , , , , , , , ,