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Thomas J. Stanley, Father & Mentor

By Sarah Fallaw on Mar 24th, 2015 in Current Events


Dear Readers,

Thomas J. Stanley, my father and mentor, passed away after a tragic car accident on February 28th, 2015. At the time of his death, we were working together on multiple projects, including two new books, Data Points, and a line of research examining life experiences and wealth accumulation.

Our family takes great comfort from the kind messages and comments that reveal the positive and lasting influence my father’s work had on people’s lives. In the wake of his passing, several journalists have provided unique and thoughtful commentary on how he redefined what it means to be wealthy.

Two things are clear from the coverage of his life and work: 1) many individuals have benefited from his research, and 2) some individuals continue to deny the inherent ability for individuals to build wealth on their own through hard work and diligence.

Therefore, his work must and will continue: providing real data versus conventional wisdom about the wealthy, demonstrating the power of behavior and life experiences in the creation and prediction of wealth, and illustrating how one can become financially independent without wealthy benefactors or a hefty monthly paycheck.

My father enjoyed sharing the stories, habits, and life experiences of American millionaires. We will continue to tell these stories, analyze empirical and archival data, and carry on the research my father conducted over his lifetime. Thank you for your continued interest…there is more to come.

Sincerely,

Sarah Stanley Fallaw, Ph.D.

16 responses to “Thomas J. Stanley, Father & Mentor”

  1. Ted says:

    Miss Sarah,

    There are no words and I cannot imagine the magnitude of your loss…

    Your father’s work and books changed my life. I have read his works countless times. This changed my thinking and goal setting having learned building wealth is possible on one generation. I am a member of the two comma club today having come from a humble background. My heart sank and I gasped out loud when I learned on this blog of his passing as I am a regular reader. May the Lord bless you and your family in every way and I eagerly await your next work…please continue to research and change lives for the better; you did mine!

  2. Sean says:

    Very thankful for your father’s work. If you desire to continue his work and legacy I’ll definitely look forward to supporting and reading your work. Praying for your family.

  3. Mazen Eneyni, M.D. says:

    Dear Sarah: With great sadness I learned of Dr. Stanley’s passing. My wife and I are more than great fans. We have read his books, listened to them during commute and recommended them to many friends and coworkers. A man like your dad never dies because he is in the thoughts and prayers of many. A man like your dad left a legacy that is everlasting.

    You must carry on Sarah, you have to carry the baton! You must continue the work for the benefit of many.

    May he rest in peace and may your memory of him be eternal.

  4. John says:

    Sarah —

    I am so sorry for your loss. Please pass my condolences on to your family.

    Your father changed my life.

    As a young man out of college who had zero knowledge of personal finance issues (my parents knew less about money than I did), I picked up a copy of The Millionaire Next Door when it was first published. I then spent the next (almost) two decades applying the findings/results to my own life.

    I now have a multi-million dollar net worth, having started with nothing to my name and from a family that was lower middle class.

    I can’t express how thankful I am for that book and your father’s continued dedication to the topic through the years. Though I never knew/met him, I consider him one of my mentors. He had a profound, positive influence on my life which will likely impact generations of my family.

    Please let your family know how much he meant to me and that I represent thousands, if not millions, of others that he impacted in the same way.

    Blessings to you and your family.

  5. William Grebenik says:

    I am working with the DoD as a contractor in Doha, Qatar. With two hours in the car each day, I started listening to audio books. This week I pulled down The Millionaire Mind and started listening to it. I had read it when it was first released and wanted to hear your fathers advice again many years later.

    While driving, I had to laugh as he described his Trick or Treating Halloween experience as he was growing up in NYC! Great research, excellent life lessons and some small insights into who your Father was on a personal level. Shame on me for not revisiting this epic work sooner!

    I wish you and your family peace and happiness as you celebrate your fathers life!

    Kind Regards,
    William

  6. Mitch says:

    Sarah,

    I was saddened to hear of your fathers passing while listening to the Dave Ramsey show. Dave gave a wonderful speech about your father and encouraged his listeners to purchase some of your dad ‘s books to support his great work. Although I already owned several of your father’s books I purchased The Millionaire Mind and just finished reading it again! I am so glad that I did so because it opened my eyes even more of just how wonderful of a man your dad truly was. I will never forgot and will always treasure The Millionaire Next Door and have recommended it countless times over the years.

    I’m so glad to hear that you will be continuing to carry on your father’s work and look forward to reading the new books that come of it.

    God Bless You & Your Family,

    Mitch

  7. Paul says:

    Dear Sarah,

    Our family joins so many others in extending our prayers and condolences to you and your family upon the loss of your father.

    I read your father’s work many years ago and although our family has been blessed with above average income, we have tried to emulate the frugal, prudent and modest qualities about which your father wrote. The wisdom and habits he cataloged has improved our lives beyond measure.

    As my children prepared for college, my wife and I assembled and gave them a modest library of books they would need to live financially happy lives. Your father’s three most famous books, The Millionaire Next Door, The Millionaire Mind and Stop Acting Rich were included among others written by John Bogle, Benjamin Graham, Burton Malkiel and Dave Ramsay.

    Please know that the work your father did and the work you intend to continue has helped so very many families grasp the concepts necessary to lead financially rewarding and carefree lives. God bless you and your family,

    Paul

  8. Gregory S Carll, CPA says:

    I am one of 4 CPAs in Texas that is a member of mdtaxes.com My clients include doctors, investment bankers and a few “Millionaires Next Door.” I have been working around the clock in my “cave” and just found out of your father’s passing. I read “The Millionaire Next Door” in 1997 and loved it. In 2000 when your father came out with “The Millionaire Mind” I remember discussing it with excitement with my clients. I recently gave The Millionaire Mind to a retired VP of Starbucks! Even though I have never read or previously had the “Millionaire Women Next Door,” several days ago I ordered 7 hardcover copies of the “Millionaire Women Next Door.” Part of my ministry is I give away around 5 books a week to people I come in contact with. I consider trying to live the essence of your father’s books essential to living a happy life – at least that is how this CPA sees it!

  9. Jeremy says:

    Dear Sarah,

    It is comforting to know that someone will be continuing Dr. Stanley’s work. I had always hoped a new book or paper would be done by your father focusing on Generation Y and the new situation that has developed over the last decade. Perhaps this might be a focus of your research. Maybe even a teaming of ideas with the likes of MrMoneyMustache …

  10. Graham Clouston says:

    Sarah, I am deeply saddened to hear of your Father’s death, of your loss, and wish you well in continuing his good work.

    I added “The Millionaire next door”, “The Millionaire mind” and “Stop acting rich” to our library as the books were published. These books have had a profound and positive influence on our journey to become “the Millionaires next door”. I regularly re-read sections of the books and recommend them to others.

    Take care and best wishes for the future.

  11. Mike says:

    Sarah, I was shocked to hear of your father’s passing. My heart goes out to you and your family. Your father’s work changed my life as well, it was so eye opening to understand what he studied and shared with the world. I’m a huge fan of your family’s work.

  12. Danielle says:

    Dear Sarah,

    My heart goes out to you and your family. What a shock. I am so grateful to your father for his curious mind, diligent research and passion for disseminating his findings in a way that facilitates hope and resilience. That work changed my life – Millionaire Women gave language and gravity to so many of the frustrations in my marriage to a “Bob” and to my “B” father. It helped me gain the emotional clarity and confidence to define smarter boundaries and manage myself more proactively as well. What amazing gifts to leave the world!

    My gratitude extends to you and your family for providing what your father needed to be as prolifically productive as he was and for your commitment to continue his work.

    Sincere condolences and appreciation.

  13. Dustin Lollar says:

    I am so sorry to hear of your father’s passing. His work and research has provided valuable insight and data into the accumulation of wealth the old fashioned, tried and true way.

    His accumulation and compilation of his findings was passed along in his writings and will continue to impact thousands, even millions of people for generations to come.

    His work and writing has created a real and lasting legacy to be enjoyed through the ages.

    God bless you and your family.

  14. PJ Gunter says:

    Hi Sarah ~

    I deeply, deeply regret learning — just *now* — of the loss of your father, a leader whose influence will be felt for many generations. Indeed, he was an “apple seed”, and we shall never know how many apples, also bearing seed, will grow in his orchard. The saying goes “You can count the seeds in an apple, but you can’t count the apples in a seed.”

    I am revisiting the Millionaire Next Door and its timeless wisdom after decades of “riotous living”, in the sense of the Prodigal Son parable. As I approach retirement, I realize the truths of Dr. Stanley’s teachings.

    However, it’s never too late….
    Please continue your research. Perhaps I may contribute in some way as I return to the Center of my Being.

    Sarah, may you feel your father’s presence and guidance as you continue your groundbreaking work.
    Perhaps therein you may feel peace to support you through the pain of your (and our) loss.

    peace
    ~ pj

  15. Harry says:

    Dear Sarah,

    I just found out today that your father has passed away back in late February. I am very sorry for your loss. Your father was one of the few authors that has written books in which helped formed and molded my core beliefs on money.

    For example, I have been tempted to trade in my Honda for a new BMW to look cool and successful. Your father’s writing has helped bring common sense in me and helped me save thousands by not caring to impress the Joneses and to care more about my bank statement and my financial future.

    Another thing, he taught me that being humble and having integrity is a virtue among all millionaires and I strongly abide by this as much as I can.

    Basically, have common sense, being humble, having integrity, and be willing to work hard is the theme that I have adopted for myself.

    There will always be critics and cynics about your father. Just ignore them and let it go one ear out the other.

    Keep up the good work you are doing.

    Sincerely,

    Harry

  16. Ken says:

    Dr. Stanley’s work forever changed the way I look at the world, I run my life and business.

    Thank you, Dr. Stanley.

    Rest in Peace.

    Ken

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