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Researching Wealth and Identifying Potential

By Sarah Fallaw on May 14th, 2015 in Current Events
Data collection is underway for a follow up study on wealth in America, the first reported by my father, Thomas J. Stanley, in The Millionaire Next Door. In addition to examining some of the timeless areas such as asset allocation and automobiles, we have included new fields of study, particularly in behavioral finance. Quick anecdote: one of the more animated discussions I had with my father as we crafted the survey was whether we should include “jeans” as a category for spending.
The application of his work to the assessment to the assessment of client wealth potential continues. Data Points, for which my father served as chief advisor from 2013-2015, will be releasing its beta Building Wealth Assessment™ (a.k.a., The Millionaire Next Door Test™) for individuals and advisors in beta form later this summer. Please sign up here to receive updates on our assessment and reporting products.
The outpouring of tributes to my father and his work after his untimely death has been overwhelming.  Please see Nick Murray’s kind review in Financial Advisor magazine.  Many people have benefited from his research and his publications over the past 30 years. Therefore, as I mentioned previously, the research will continue.

4 responses to “Researching Wealth and Identifying Potential”

  1. Steve Stewart says:

    This is extremely exciting! I have wanted an update on the facts and studies from the Millionaire Next Door for a number of years. Stop Acting Rich temporarily satisfied the need for updated statistics but Data Points seems to be the next step towards keeping in touch with current trends. Thank you!

  2. Sarah M. says:

    I am so grateful for the insight and knowledge your father shared with all of us. He has helped me to better understand what true wealth means…to be grateful and happy for what we have now but not to be afraid to work for the American Dream! Financial independence is still possible! Thank you for continuing his legacy. 🙂

  3. Tim says:

    I think “jeans” would be an awesome category for study. I usually buy my jeans at places like Tractor Supply or Big R (a regional chain catering to rural/small town folks). I look for a few things – durability, value and simple, functional style. I usually spend about $20-25 bucks for a pair, and if I don’t find what I want, I wait.

  4. Dane Pridgen says:

    Just saw today where he was no longer with us. Hurts my heart. I really enjoyed his work and glad to know it will continue. Condolences.

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