The Millionaire in The Mobile Home

By Thomas J. Stanley on May 15th, 2012 in Studying the Wealthy

Here’s a millionaire next door story from an admiring grandson: 

This is about my grandmother. . . a millionaire next door type all my life [35 years]. . . I had no clue.  My grandmother never graduated from high school.  Married at sixteen.  She moved from New Mexico with my grandfather to a farm in Nebraska. . . really didn’t make any money farming.  When I was 5 years old my grandfather died.  My grandmother who had been a homemaker since sixteen years of age was now responsible for a barely break even farm. 

Here’s where the grandmother demonstrated considerable courage and foresight. In order to keep the farm she moved her family to town into a rented mobile home and leased the farm out from that point on. 

She got her GED and then worked mainly entry level jobs . . . drove an old Ford Taurus forever, never turned the heat up past 65 degrees in the winter.  If you would meet her you’d have thought, here’s a sweet old lady living on minimum wage with only Social Security for retirement.  . . . a few years ago my dad and I were talking.  He looked at me and said, “you know your grandmother is a millionaire.”  She’s the model we are following to become financially independent.  She’s making a six figure passive income now. . .  but doesn’t look like she’s making the income she is.

In the spirit of the millionaire next door, it is better to live in a trailer and own a million dollar farm than to live in a million dollar home in which you only own a trailer’s worth of equity.

6 responses to “The Millionaire in The Mobile Home”

  1. Jeff says:

    Sadly, most people aren’t willing to make that kind of sacrifice to become wealthy.

  2. Diana Doyle says:

    Great story!

  3. J Scott says:

    Real success in this life is truly about sacrifice! Good job. Thanks for sharing this story.

  4. Rico Ceo says:

    Great story Dr. Stanley. And people complain that they can’t get ahead and want to blame someone for their financial issues. This Grandma lived a minimum wage lifestyle and became a millionaire with a six figure passive income. What’s more impressive than the millionaire net worth is the six figure passive income. With her life style she probably had 7 figures in cash in the bank plus the free and clear farm / cash cow.
    I love these stories…..keep them coming Dr. Stanley.

  5. Wizard Prang says:

    Sadly there is a multi-billion-dollar marketing machine that is trying to ridicule people who live like this.

  6. Patricia J. Deiss says:

    Is Dr. Stanley working on a new book and, if so, when is it expected to be published? What is the title of the new book? Thank you.

    Pat Deiss

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