Lessons Learned

Option 3 for Stop Acting Rich-Part II

By Thomas J. Stanley on Feb 9th, 2010 in Lessons Learned

The cost of housing is often a major barrier to becoming financially independent.  That’s why Ms K.S. might consider becoming her own landlord, as did Brian.  But “just follow the rules.”  And as I wrote in The Millionaire Next Door: To build wealth, minimize your realized (taxable) income and maximize your unrealized income (wealth/capital appreciation […]

Option 3 for Stop Acting Rich: Part I

By Thomas J. Stanley on Feb 4th, 2010 in Lessons Learned

Ms. K.S. recently e-mailed me: Should I buy a home/condo or rent an apartment?  I’m moving to a large metro area where the cost of housing is very high.  My annual income is about $70k.  Will buying help my chances of becoming wealthy someday? I’m not sure if I can afford to buy [a home]. […]

Enjoy the Journey to Wealth

By Thomas J. Stanley on Jan 12th, 2010 in Lessons Learned

How do I categorize millionaires who inherited all or most of their wealth?  I do not consider them to be fortunate. Actually, I think of them as being deprived. They were deprived of the great pride, joy and satisfaction derived from building one’s own fortune. Countless millionaires have told me that it is the journey to wealth […]

Costumes: Not Just for Halloween

By Thomas J. Stanley on Oct 27th, 2009 in Lessons Learned

One of my earlier blogs, The Downside to Understating Your Wealth, apparently hit a chord with many of you. Mrs. Davis, a teacher, told me that her memory was jogged after reading about the Honda driving doctor who couldn’t get into the hospital’s parking lot. Here is her contrasting story on the upside of understating your wealth.  […]

Please Don’t Ask; I Don’t Have a List

By Thomas J. Stanley on Jul 28th, 2009 in Lessons Learned

I was called by a salesperson who targets millionaires; he markets “tax-advantaged concepts.”  He had seen an article in USA Today in which I was quoted about the size of the millionaire market in each state.  He wanted my list of the names and addresses of America’s millionaires.  I informed him that I did not have […]