Blog

Black Friday Perspectives from Millionaires

By Sarah Fallaw on Nov 23rd, 2018 in Current Events, Mentor's Corner, Psychology and Careers, Studying the Wealthy

Black Friday, from both a marketing and psychological perspective, was of great interest to my father, so much so that we included a question about it on the last survey we conducted on wealthy Americans for The Next Millionaire Next Door. Below is a roundup of some of the writings he and later I published […]


What Millionaires Do Post-Election Night

By Sarah Fallaw on Nov 7th, 2018 in Current Events

By becoming engrossed in ongoing competitions, you’re necessarily taking time and emotional energy from something else: your business or education or some other productive activity. The Next Millionaire Next Door One of the keys to economic success is focusing your cognitive and emotional energy towards valuable activities: managing and caring for your household finances, improving […]


Early Reviews for The Next Millionaire Next Door

By Sarah Fallaw on Oct 23rd, 2018 in Books and Publications, Current Events, Studying the Wealthy

The buzz is building around The Next Millionaire Next Door. Thank you to everyone who has responded with orders, reviews, and words of encouragement. And, many thanks to those of you who are requesting copies at your local independent bookstores and libraries. Below are a few links to reviews and press: The Dave Ramsey Show: […]


Millionaire Status: Why So Many Men?

By Sarah Fallaw on Oct 19th, 2018 in Books and Publications, Studying the Wealthy

More than anything else, our research findings related to becoming economically successful on our own have more to do with behaviors related to saving, spending, investing, and planning than characteristics that we cannot control, or have little choice over, like how we were raised. We’ve even seen, through the research we’ve conducted at DataPoints, that […]


An Update on “The Book”

By Sarah Fallaw on Aug 15th, 2018 in Books and Publications, Current Events, Studying the Wealthy

On October 1, the book my father and I began writing several years ago will, at long last, make its appearance on bookshelves. The title is The Next Millionaire Next Door, and it focuses on what it will take for this (or any) generation to achieve lasting financial success. Our research revealed (and thus our writing focused on) themes […]


Building Wealth & Minding Your Own Business

By Sarah Fallaw on Dec 7th, 2017 in Current Events, Lessons Learned, Mentor's Corner, Psychology and Careers

One of my students gave a presentation on how to use goal-setting theory to reach financial freedom and at the end he said, “but you’ll never save money if you don’t MIND YOUR OWN BUSINESS,” and this really stuck with me.  In the Twitterverse yesterday, one of my fellow industrial-organizational psychology friends retweeted this quote […]


Career Risks: Now or Later

By Sarah Fallaw on Sep 19th, 2017 in Lessons Learned, Psychology and Careers

In finishing the follow up to The Millionaire Next Door, and specifically in working on the chapter discussing work and careers, there is consistency in the finding that most economically successful individuals must take some sort of risk in their careers. The question is: when an opportunity (risk) is presented, who can take advantage of it? […]


The Great American Summer Job

By Sarah Fallaw on May 24th, 2017 in Current Events, Lessons Learned, Mentor's Corner, Psychology and Careers

Waiting tables, mowing lawns, babysitting, retail sales, camp staff, stockroom: how many of these summer jobs did you have in high school and college? What about the teens you know – are they working this summer? When I saw the headline that retail jobs that once filled the time of teenagers looking to make money […]


The Ultimate in Alone Time

By Sarah Fallaw on Mar 9th, 2017 in Current Events

If you are the mother of small children, or a working mom, or a woman who needs a mental escape from your busy day, the idea of having a place all to yourself is appealing. The latest in ultimate escapism is aptly called the “she shed,” discussed in depth in the Wall Street Journal. In […]


Consumption: Full Speed Ahead

By Sarah Fallaw on Jan 2nd, 2017 in Current Events, Lessons Learned

If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in last week’s Wall Street Journal wove an […]