Murphy Wealth Management Group

10/23/2026

🛠️ The richest person in your town probably isn't a tech founder or someone in finance. It's more likely the dentist running four offices, or the owner of the HVAC company whose trucks are everywhere.

New research from economists Owen Zidar and Eric Zwick, based on IRS and Treasury data, found nearly 5 million U.S. households worth at least $5 million, holding combined wealth more than 13 times that of the Forbes 400.

A few patterns stood out:
➡️Most started their business themselves rather than inheriting it
➡️Most run ordinary, brick-and-mortar businesses rather than tech or finance
➡️Independence mattered more to them early on than getting rich ever did

🌭 Case in point: Dick Portillo started a hot dog stand in 1963 with just $1,100. Decades later, he sold the business he'd built for $1 billion.

Building wealth often looks much more ordinary and attainable than the headlines suggest. If growing or eventually stepping back from a business is part of your picture, that's worth talking through together.


Source:

Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.

10/21/2026

Three tips for giving smart from the heart.

Do you have causes that you want to support with donations?

10/20/2026

This week's Market Commentary - October 19, 2026

One thing leads to another. In 2009, a team of domino builders in the Netherlands attempted to topple 4.8 million dominoes.

10/16/2026

Required minimum distributions can catch retirees off guard. Use this calculator to estimate your RMD and think through how it fits into your overall picture.

Calculate your required minimum distribution amount based on your account balance and age.

10/15/2026

Do your financial concerns feel stressful? Take a look at this video for some best practices when it comes to your financial strategy.

An amusing and whimsical look at behavioral finance best practices for investors.

10/13/2026

This week's Market Commentary - October 12, 2026

We’ve been here before. Financial markets work because people have different beliefs. Every trade needs a buyer who expects a stock to ...

10/02/2026

This week's Market Commentary - September 28, 2026

Keep your eye on your long-term goals. Batters have one of the most difficult jobs in baseball: keeping their eyes on the ball.

10/01/2026

09/30/2026

U.S. credit card debt is approaching a record high.

Americans’ credit card balances reached $1.26 trillion in the second quarter, rising by $21 billion, according to new data from the Federal Reserve Bank of New York.
That puts credit card debt just below the all-time high of $1.28 trillion set late last year.

Strong consumer spending is one factor behind higher balances. Rising prices for essentials like groceries and gas may also be contributing.

Delinquencies remain a concern. The share of credit card balances more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026.
Total U.S. household debt now stands at $18.8 trillion. Auto loan debt also reached a new high of $1.71 trillion.

For households, rising debt is a reminder that everyday expenses, interest rates, minimum payments, and emergency costs can all affect financial flexibility.



Source:

Americans' credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter of this year, according to new data.