A Million For Your Thoughts

It's Not All Bad

As entrepreneurs' bank accounts move to the next level, the positives obviously outweigh the negatives. Caren, a subscriber to Millionaire magazine (see "They're Everywhere" on page 95), says the biggest purchase she's made so far has been to take her mother on a long-desired vacation to Hawaii.

Dash, like Caren, hasn't been a millionaire for very long--his biggest purchases, as of this writing, have been a BMW 540 for his wife and a Mercedes for himself. "I almost bought a $17,000 home stereo system, until my wife stopped me," says Dash, who adds that his wife "has been able to temper me."

This seems to be a trend among younger entrepreneurs: Having struck it rich so quickly, they're either too busy earning their fortunes to spend them, or they're a little too nervous to do so. "We know it can go as fast as it came," muses Dash.

"My dad had a couple of companies that went bankrupt," says Fallon, echoing the same sentiment, "and my grandmother lived through the Depression. I tend to look at money with a squinty eye." That said, Fallon admits he travels fairly frequently. "And I've started to get some of the toys--the BMW convertible, a house in the country, an apartment in the city. Life's pretty good."

Indeed. Shelton recently treated herself and four friends to an Italian vacation. And three years ago, she gave her father a Thunderbird ("zero miles; my dad had never had a new car") for Christmas--a sort of payback for when Shelton's father gave his one and only car to her so she could take it to college. And Shelton pays to send her niece and nephew to private school. "I want to make sure that my money is used for bettering other people's lives, not just my own. I'm interested in bettering my own, too, but if I can help the people I love, it's so rewarding."

Geoff Williams has written for numerous publications, including Entrepreneur, Consumer Reports, LIFE and Entertainment Weekly. He also is the author of Living Well with Bad Credit.

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This article was originally published in the March 2000 print edition of Entrepreneur with the headline: A Million For Your Thoughts.

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