He has been Chairman of the College of Marketing of the Institute of Management Sciences, a Director of the American Marketing Association, a Trustee of the Marketing Science Institute, a Director of the MAC Group, a former member of the Yankelovich Advisory Board, and a member of the Copernicus Advisory Board. He is a Member of the Board of Governors of the School of the Art Institute of Chicago and a Member of the Advisory Board of the Drucker Foundation. He has received honorary doctoral degrees from the Stockholm University, University of Zurich, Athens University of Economics and Business, DePaul University, the Cracow School of Business and Economics, Groupe . in Paris, the University of Economics and Business Admininstration in Vienna, Budapest University of Economic Science and Public Administration, and the Catholic University of Santo Domingo.
3. Pay taxes now, as your money grows and later. Non-qualified investments—basically anything that’s not in a tax-qualified account like a 401(k)—are another option. You invest money that has already been taxed in non-qualified investments. Depending on the investment, you may be taxed on earnings or distributions along the way. And then when you sell those investments, you will pay tax on any increase in value. For instance, let’s say you invest $1,000 in a mutual fund today and then sell it 10 years from now for $1,700. The $700 you made will be treated as capital gain income the year you sell it, and the capital gains tax bracket is based on the ordinary income tax bracket you are currently in.