Tag: income

Building Wealth & Minding Your Own Business

By Sarah Fallaw on Dec 7th, 2017 in Current Events, Lessons Learned, Mentor's Corner, Psychology and Careers

One of my students gave a presentation on how to use goal-setting theory to reach financial freedom and at the end he said, “but you’ll never save money if you don’t MIND YOUR OWN BUSINESS,” and this really stuck with me.  In the Twitterverse yesterday, one of my fellow industrial-organizational psychology friends retweeted this quote […]

The Millionaire Next Door Mile Markers

By Thomas J. Stanley on Feb 17th, 2015 in Current Events

Most households in America with good to even great incomes, “have small levels of accumulated wealth.  Many live from paycheck to paycheck.”  And, as I also wrote in The Millionaire Next Door, these are the people who will benefit most from the book.  With this in mind you will understand my keen interest in the […]

Stocks: Not the Only Bull Market

By Thomas J. Stanley on Apr 23rd, 2013 in Mentor's Corner

A recent newspaper headline proposed that “the best way to get rich is the stock market.”  Building wealth via stocks or other investments is akin to growing trees.  You can’t grow oak trees if you don’t have enough money to buy acorns.  So, suggesting that the stock market leads to wealth is putting the cart […]

$1M Income Producers: 5.5% Receive Trust/Estate $$

By Thomas J. Stanley on Feb 7th, 2012 in Studying the Wealthy

It has come to my attention that there are quite a few reporters and columnists who read my blogs in search of data and ideas for their future endeavors.  And I take that as a compliment.  Of course not all of these people agree with my revelations!  But, as best I can, I just objectively count […]

How to Live Like a Real Millionaire

By Thomas J. Stanley on Oct 8th, 2009 in Millionaire Next Door Stories

Case studies are a critical part of my research on millionaires and the affluent. Below is the first part of a Millionaire Next Door story I received last month from a “scientist of wealth.”  As you will see, you do not have to have a seven figure income to become a millionaire. A Letter from […]

Onshore versus Offshore

By Thomas J. Stanley on Sep 15th, 2009 in Current Events

If you recall from an earlier blog, Part 1: The Millionaire Next Door:  Swiss? Cheese only, I hypothesized that most people who are guilty of tax evasion are hyper consumers.  But not all of these tax cheats use offshore accounts.  In fact, I am of the opinion that there is a much greater number of […]

Part 3 of 3: The Millionaire Next Door . . . Swiss? Cheese only.

By Thomas J. Stanley on Sep 10th, 2009 in Current Events

Compare the “rich” people (especially the Forbes 400 crowd I profiled in my previous blog) with the typical Joe and Nancy American household. The typical household in the United States generates a median income of just over $50,000 per year. As explained in an earlier blog, Average Rich? Median Poor?, its net worth is just […]

Greetings from the Income Statement Affluent Capital of America

By Thomas J. Stanley on Aug 5th, 2009 in Income vs. Net Worth

I have lived in Georgia for most of my adult life, one of many New York transplants.  I would not want to live anywhere else.  In fact, my success in studying how people become wealthy as well as why so many people with high incomes accumulate little or nothing is related to where I live.  […]

Wealth is not Income; Income is not Wealth

By Thomas J. Stanley on Jul 23rd, 2009 in Income vs. Net Worth

There are a lot of writers, reporters and politicians who need to go back to school.  They continue to confuse income and wealth when talking about taxing the rich.  When I use the term wealth, I am referring to the net worth of a household, i.e. all of its assets less all of its liabilities.  […]