The Millionaire Next Door

In the book, The Millionaire Next Door, by Thomas Stanley and William Danko, 1,115 millionaires were surveyed around the country. They came up with seven common denominators among those who successfully build wealth:

They live well below their means.
They allocate their time, energy and money efficiently, in ways conducive to building wealth.
They believe that financial independence is more important than displaying high social status.
Their parents did not provide economic outpatient care.
Their adult children are economically self-sufficient.
They are proficient in targeting market opportunities.
They chose the right occupations.

Who Has Your Data, Is Anyone Backing It Up?

Wow! This article in the Washington Post is really sad. I hate to see people lose data.

T-Mobile is a great company owned by Deutsche Telecom. A solid company. I suppose the point to the matter is their back-end was a Microsoft subsidiary called Danger Inc. Clearly they weren’t doing their job.

I found a company that is a very cost effective host. For $4.95 a month you can get unlimited Hosting on one domain. Amazingly cheap! The problem I found out (before switching to AINEO Secure) was that they don’t really back up everything. If your account is ‘too large’ you can’t even initiate a back up from your control panel.

I am very proud of all the sweat and blood we put into AINEO Secure. Running a hosting business is not for the faint-hearted.

We have been supporting mail services since 1997 so have solid communications is second nature to us. For example, our mail servers are clustered. That means that even if one of the mail servers goes down (pretty difficult with duplicate power, processors, and RAID disks), then then another server will pick up the slack.

All of the data is backed up and stored locally and in our Saitama center. I can’t imagine this type of Danger Inc problem happening to us. The last thing I want to do it let it happen to our partners.

Give us a try. AINEO Secure Hosting is great!

Advice to the New Japan Prime Minister

Alexander Kinmont of Morgan Stanley gave some interesting advice to the new Japanese prime minister today. Some very good insights-

1) Rescind the Bank of Japan law, and bring it under government control.

2) Fiscal Policy- Get away from politically motivated fiscal policy and move to economically motivated policy. Stop playing with interest rates and print money a bit.

3) Abolish the Inheritance Tax. This holds ups a lot of capital from going into the market.

Interesting thoughts to consider for Mr. Hatoyama.