Tag: Millionaire Next Door

On Becoming The Next Millionaire Next Door

By Sarah Fallaw on Feb 6th, 2019 in Books and Publications, Current Events, Studying the Wealthy

Is it possible to build wealth on your own? If you thought that becoming a millionaire next door today was impossible, I hope you can learn a bit more about the behaviors it takes to achieve financial success before deciding so. Here are a few more reviews and insights into The Next Millionaire Next Door.  […]

The Luxury of Indiscriminate Spending

By Sarah Fallaw on Apr 29th, 2016 in Lessons Learned, Mentor's Corner, Studying the Wealthy

Think about items that could be passed down to the next generation: jewelry, artwork, a treasured photograph, or a favorite book. What about the luxury of not being frugal? The luxury to buy whatever one wants? Are affluent parents passing down that “luxury” unknowingly? For those not fortunate enough to inherit large lump sums or […]

The Top Ten Assets Owned by Millionaires

By Thomas J. Stanley on May 28th, 2013 in Studying the Wealthy

Americans are constantly bombarded by the news media that uses the term “the market,” i.e. the market is up, the market is down, it is a good time to invest in the market.  With the current surge in the stock market it is easy to forget that it’s not the only market in our economy.  […]

The Case of Fay Naivete

By Thomas J. Stanley on Sep 23rd, 2010 in Mentor's Corner

People are often vulnerable to “get rich quick” solicitations when they see their economic future dimming or when they have had a financial reversal.  In this context consider a letter I received from a woman I refer to as “Fay Naivete.” My husband and I were extreme income statement affluent types.  He came from money; I […]

Finding Mr. (or Ms.) Right

By Thomas J. Stanley on Sep 21st, 2010 in Millionaire Next Door Stories

I ‘d like to respond to a letter I received from a 60 year old woman who was recently widowed.  In it she discusses her feelings about being single, wealthy and alone. She and her husband were married for over 37 years. He was a successful business owner who left her with multi millions. Her situation is […]

Teach Your Children Well- Part II

By Thomas J. Stanley on Sep 16th, 2010 in Millionaire Next Door Stories

In my last blog, I took on the diet police.  I argued that child obesity is more a function of the lack of parents instilling discipline and moderation in their children’s lifestyle than it is fast food companies and their products.  Children benefit from parental guidance in all aspects of their lives.  The following letter is a […]

How Wealthy Should You Be?

By Thomas J. Stanley on Aug 26th, 2010 in Mentor's Corner

Many people have contacted me since I first published the Wealth Equation in Marketing to the Affluent, aka marketing to the millionaire next door.  They seek yet another form of special dispensation.  Most often these people are in their 20s, 30s and some 40s.  They argue that they haven’t been working long enough to accumulate what […]

Millionaire in the Making

By Thomas J. Stanley on Aug 17th, 2010 in Millionaire Next Door Stories

In my research over the past 30 years, I have discovered why the millionaire next door types are so productive in transforming their income into wealth. Much of what I have found is succinctly summarized in the following communication I recently received.  I am not a millionaire. At the age of 38 I am about 1/2 way there on […]

The Millionaire Next Door – Not on the Supreme Court

By Thomas J. Stanley on Jul 27th, 2010 in Current Events

Several recent articles have been published about the parochial character of the members of the United States Supreme Court. The themes of these articles have centered around political orientation (conservative vs. liberal), religion, and the fact that there are no longer any WASPs (white, anglo-saxon protestants) on the court. Historically, the entire Court was composed of WASPs. These factors […]

Stop Acting Rich: Act Like Ken

By Thomas J. Stanley on Jun 24th, 2010 in Millionaire Next Door Stories

What does my data tell me about hyperconsuming, high income, low net worth types?  Often these income statement affluent (IAs), as I call them, actually subsidize balance sheet (BAs) millionaires.  One example of this is found in the motor vehicle industry.  Most BAs (about 80%) have never leased a car, SUV, pickup or minivan.  No, not […]