Have you seen this guy?

[Jason]

Check it out: http://finance.yahoo.com/news/27-year-old-millionaire-anton-ivanov-financessful-184823184.html
What a great guy!

[iris lilies]

Check it out: http://finance.yahoo.com/news/27-year-old-millionaire-anton-ivanov-financessful-184823184.html
What a great guy!Cool! I only listened to half of it, but I could see where it's going and it's a path that most American could take. The fact that he's of Russian stock is another data point supporting The Millionaire Next Door's information that Russians have the highest net worth of any American ethnic demographic. And not surprisingly, The Millionaire Next Door is one of his bibles.
I love that book.

[lessisbest]

I really enjoyed hearing his success story - thanks for sharing the link. So much common sense for one so young in a day and time where you are expected to carry debt all your life and die bankrupt. Compare his common sense money attitude with our friends in the mid-70's. They just refinanced the home they built in the early 80's, and surrounding country property, for a 30-year mortgage. Somewhere along the way a financial adviser told them to NEVER get rid of their house payment because they need it as a tax deduction. Even though I've done the math for them showing how they pay the bank $8,000 a year in interest so they save $2,000 on their taxes (just an example, not the real numbers). Every few years they max-out their credit cards and toss that into their re-fi. I bet this young guy would never take that kind of misplaced financial advise.

[Packy]

Cool! I only listened to half of it, but I could see where it's going and it's a path that most American could take. The fact that he's of Russian stock is another data point supporting The Millionaire Next Door's information that Russians have the highest net worth of any American ethnic demographic. And not surprisingly, The Millionaire Next Door is one of his bibles.
I love that book. Are you sure that they are actually ETHNIC Russian? Or, would one of those DNA tests suggest that they or more likely, their ancestors, at one time migrated to Russia and then at some point re-emigrated to the USA? To escape the oppressive Czarist, or Anticapitalist Bolshevik or Stalinist Regimes? Some self-identifying "Russian-Americans" may not be truly Russian or only have a little Russian Ancestry, but the books' author failed to make that distinction. Or, did they? Just Curious.

[iris lilies]

Are you sure that they are actually ETHNIC Russian? Or, would one of those DNA tests suggest that they or more likely, their ancestors, at one time migrated to Russia and then at some point re-emigrated to the USA? To escape the Anticapitalist Bolshevik or Stalinist Regime? Some self-identifying "Russian-Americans" may not be truly Russian or only have a little Russian Ancestry, but the books' author failed to make that distinction. Or, did they? Just Curious.

If you mean "They are Jews " I don't know about that. Here's what the book says:

"If the English ancestry group does not have the highest concentration of millionaire households, then which group does? The Russian ancestry group ranks first, the Scottish ranks second, and the Hungarian ranks third. Although the Russian ancestry group accounts for only about 1.1 percent of all households in America, it accounts for 6.4 percent of all millionaire households. We estimate that approximately 22 of every 100 households headed by someone of Russian ancestry has a net worth of $1 million or more. This is in sharp contrast to the English ancestry group, in which only 7.71 in 100 of its members are in the millionaire league. How much wealth does this Russian American millionaire group have in total? We estimate approximately $1.1 trillion, or nearly 5 percent of all the personal wealth in America today!

How can one explain the economic productivity of Russian Americans? In general, most American millionaires are manager-owners of businesses. Russians in disproportionate numbers are manager-owners of businesses. Further, this entrepreneurial spirit seems to translate from one generation of Russians to the next. "

Here's the whole thing with the ethnicity section 3/4 down:

http://www.nytimes.com/books/first/s/stanley-millionaire.html

[iris lilies]

This guy in the article has since proven to be a fraud:

CORRECTION: Since the publication of this story on Nov. 4, new details have come to light which have made Anton Ivanov's claims of becoming a self-made millionaire highly suspect. On Monday, Ivanov admitted to Yahoo Finance (http://finance.yahoo.com/news/anton-ivanov-millionaire-story-truth-210757837.html) that 75-80% of his wealth consists of an inheritance that was left to him by his parents, who died several years ago.




Yahoo Finance regrets these errors. We are continuing to update this correction as more facts about Ivanov come to light.

[Teacher Terry]

I saw this on the MR MM website. Really too bad.