Thomas J. Stanley : Millionaire Next Door Author; Researcher; Expert

Early in my career I wrote an article entitled "Why You're Not as Wealthy as You Should Be."  It was published in Medical Economics and later extracted for Reader's Digest.  Much of the details were later incorporated into my books.  Those who have accumulated significantly less wealth than the norm for their respective age and income cohorts [income statement affluent-IAs] have much in common.  And it's not just about the fact that they live above their means. How one spends his dollars of income is also related to wealth accumulation.  Here is one example of this from the automobile market. There is a significant...

Will our economy improve?  I believe it will; it has been improving for about the last two years.  I know this because I have a special crystal ball that reveals the future!  Actually, part of the crystal ball is in print form:  the weekly editions of Automotive News.  I am particularly interested in the production and sales figures for manufacturers of motor vehicles.  Fundamental to the health of our economy is the health and well-being of our automobile industry.  According to Automotive News, in 2007 approximately 16.2 million light vehicles [cars, SUVs, minivans, pick-up trucks] were sold in the United States.  But in...

The following question was asked in The Millionaire Next Door:  What makes of cars are most popular with millionaires?  Number one in market share (9.4%) was Ford. . . the most popular models include the F-150 pickup. . . about three in ten millionaire Ford drivers own F-150 pickups. More recently, in Stop Acting Rich, I mentioned that "among the millionaires surveyed for this book, Ford had the highest market share (9.5%) for the [previous] 10 years combined."  Toyota was found to be number one in terms of the most recent vehicle purchased.  But net out the arch type millionaires next door...

The new Mustang, especially with the world class 5 liter V-8, is yet another success version of the namesake which made its debut in 1964.  From the beginning the Mustang was a concept based on the preferences of car enthusiasts.  Lee Iacocca who was the #2 man at Ford during his tenure there is often credited with being "the father of the Mustang."  But he graciously gave credit to others.  It seems that Mr. Iacocca made it a habit of reading countless letters from car buffs urging him to produce a sporty 4-seater version of the famous 1955-57 2-seater Thunderbird. ...

In a recent advertisement for Honda Accord, it was described as having the highest resale value within its class.  I'm not surprised.  How well a motor vehicle holds its value depends on several factors.  Of course reliability is important no doubt, but there is something else.  It has to do with retail versus fleet sales.  What if the car that you are contemplating buying is sold in the hundreds of thousands under the heading of Fleet Sales?  Most of these fleet purchases are made by rental car companies who demand  very deep discounts from manufacturers.   Later these one, two or three...