Not Ready for The Real WorldPosted on August 6th, 2015
- They might ask their parents to get involved with their challenges at college (e.g., having parents ask professors to change grades or calling admissions offices). - They fail to begin the basics in financial management, from planning to saving for ...
Words of Wisdom: Networking & Opinion LeadersPosted on June 17th, 2015
by Sarah S. Fallaw, Ph.D.President, Data Points While going through some training materials in my father's archives this morning, I found a section that defined networking via an example geared towards attorneys. Regardless of your industry, it is a great summary for effective business development and was the focus of the book Networking with the Affluent, published this month back in 1993. ...
History: Wealthy Blue Collar SegmentPosted on June 2nd, 2015
How did the concept of The Millionaire Next Door begin? Below is a bit of history, originally published on the timeline: When did Dr. Stanley first profile the Millionaire Next Door population? Originally he used a different title in defining this segment. Dr. Stanley first coined the "Wealthy Blue Collar...
Researching Wealth and Identifying PotentialPosted on May 14th, 2015
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...
Recommended Reading from Nick MurrayPosted on April 29th, 2015
In a recent edition of Financial Advisor magazine, Nick Murray wrote a piece on The Millionaire Next Door and Dr. Thomas J. Stanley's life. Mr. Murray, an expert in his own right, discusses the book in the context of the time it was written and the way in which stories were blended with statistics to illustrate how seemingly average individuals could be wealthy. It reads in part: He had me at...
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