Brooke Tatum

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FIN 1050

Aug 6, 2016

ePortfolio Assignment
Big Hat, No Cattle, refers to how things might appear different.
This average Joe looking guy is actually the real millionaire/CEO.
a. Go to Hell Fund, means a person has enough money to
not have to work for 10 or more years
PAWs are the best at building net worth in their socio/economic
category, and Mr. Richards is a PAW. Also it costs less to maintain
his lifestyle instead of a classier lawyer lifestyle, which is where
most of Mr. Fords money must go.
Wasteful
a. She was thankful, but continued clipping coupons
b. If you dont budget you could easily spend your wealth
away without noticing
Possessed by Possessions refers to how Teddy wants to impress
and is satisfied by his stuff
a. Teddys parents could have quit wasting money on
cigarettes, they could have invested the money where it
would have made a better use, and wouldnt have a bad
health consequence as well
Rodney sold his financial independence by saying that he
couldnt afford his companies matching stock plan, yes matching,
which allowed 6 percent of his income to go toward shares. Now
that hes older he doesnt know how hell have enough money for
retirement
Mr. W.W. Allan declined the Rolls Royce because he felt its not
useable for his lifestyle and its a burden. Whos going to take a
Rolls-Royce down the rugged dirt roads to a fishing spot and get
dirt, mud, and water in it?
Economic Outpatient Care (EOC): gifts that parents give their
children after theyve reached adulthood
a. James reaction was not one of joy, I would probably react
in the same way if my parents had similar news, and he
exclaimed that its his property.
b. Jamess reaction was predictable, especially since he had
been receiving money from his parents previously.
c. The fundamental rule regarding wealth building comes
down to knowing what you make and living below it. Invest
and save what you can, and be smart about how you spend
your money.
Beth and her husband have been dealing with several things
because their high consumption low-income lifestyle makes them
depend on Beths parents EOC. Beths mom is at the house
invited and un-invited, Beths parents dont like her husband but
he tolerates it because of the dependence
a. Weakening the weak is when your typical affluent parents
take care of their less independent child and usual

Brooke Tatum

FIN 1050

Aug 6, 2016

strengthen their independent child. Usually parents want to

help their least resourceful child and end up helping them
make decisions or sometimes making the decisions for
them.
b. Kens father told him that hes not impressed by wealth but
by accomplishments, and if you become the most
accomplished in your field, the wealth will come
9. The root cause for the conflict between Mr. W and the residents
of the vacation condominiums was appearance. The residents did
not see Mr. W and his wife as good-looking. The residents used
the dog as their cover up excuse.
10.
After reading this book my perspective on millionaires has
changed. I used to hear millionaire and picture someone driving
a Lamborghini, wearing the latest designer clothes, living in a
massive home with staff, and so on. But this book made me
realize those are just the wasteful ones and most people living
that lifestyle cannot sustain it. Most of the successful millionaires
are penny pinchers, living a more conservative lifestyle.
a. I found that spending less than you earn and not being
wasteful were two concepts that I could relate with the
most. Spending less than you earn is simple but extremely
vital to keep yourself out of debt. Not being wasteful is
another one that I think everyone at every economic level
needs to take in equal consideration, but the higher you
climb up the ladder it seems to go out the window. So I feel
this is another simple but pertinent concept to always
remember.
b. One small change that I could make to improve my
financial well being would be to quit wasting money on fast
food. I could easily cut my eating out down to of what I
am now, and spend the rest on groceries which are much
cheaper, and put a higher percentage into savings per
month

Reflective Writing
This assignment helped me achieve the SLCC Learning Outcome
of, Students think critically and creatively, in several ways. First it
helped me change my viewpoint on millionaires, it helped me to see
them in a very different way. It also helped me to see that we tend to
build stereo types that need to be evaluated before assuming them,
like the stereo type that millionaires spend and live lavishly Second

Brooke Tatum

FIN 1050

Aug 6, 2016

after reading the book it took reflective thinking to compose my

answers to the final.
This assignment helped me achieve the SLCC Learning Outcome
of, Students develop computer and information literacy in several
ways. I had to use hardware like my laptop for example to succeed in
this course. Which shows that I have an understanding of that
hardware. I also had to use various software like chrome, safari, word,
canvas, and more to complete this course and its work.