Mentor’s Corner

Building Wealth Revisited

By Thomas J. Stanley on Nov 4th, 2014 in Mentor's Corner

When I wrote The Millionaire Next Door I had several purposes in mind.  One was to educate those who make good to great incomes but who have accumulated low levels of net worth.  I first wrote about this topic in a 1992 article entitled, “Why You’re Not as Wealthy as You Should Be.”  Often what happens in this […]

8 Key Elements of the Economic Success Equation

By Thomas J. Stanley on Oct 7th, 2014 in Mentor's Corner

Contrary to what is often touted in the media, there are more great affluent opportunities in our economy today than ever in our nation’s history. But in order to take advantage of these, it is important to appreciate the 8 key elements of the economic success equation as given in my book, The Millionaire Mind: 1.  Understand the […]

Apply the Millionaire Mind to a Niche Market Environment

By Thomas J. Stanley on Sep 30th, 2014 in Mentor's Corner

On the front cover of the October 2014 issue of Road and Track is a picture of a 2014 red Ferrari 458 Speciale blasting along a mountain highway.  The folks from Road and Track thought it would be interesting for this superfast Ferrari to challenge “the dragon king” (Davis) who “discreetly rules Tennessee’s route 129 – the deadly two […]

Talented People Are Attracted to Those with Great Integrity

By Thomas J. Stanley on Sep 23rd, 2014 in Mentor's Corner

Once again the importance of the integrity factor in explaining socioeconomic success was highlighted in a recent New York Times profile of Eileen Ford, the founder of the famous Ford Modeling Agency. Ford Models became “the top agency in the world.”  Yet Mrs. Ford often was credited with saying that she had no talent but that she […]

Millionaires With Marine Corps Discipline

By Thomas J. Stanley on Mar 18th, 2014 in Mentor's Corner

The national sample of 733 millionaires, the base for my book The Millionaire Mind,  is representative of a fraction of the top 1% of wealth holders in America. Out of the 30 success factors they rated, integrity and discipline ranked in a tie for first place.   It is hard to overemphasize the importance of discipline in […]

View Adversity as an Opportunity to Strengthen Your Resolve to Succeed

By Thomas J. Stanley on Jan 28th, 2014 in Mentor's Corner

Success is more akin to a marathon than a sprint.  In fact, for many, success only emerged after they were able to negotiate their way through a series of gauntlets of adversity.  I was once again reminded of this after reading a Wall Street Journal article appropriately titled, Entrepreneur Let No Impediment Stop Him: Out […]

Ideal Location for The Millionaire Next Door: College Town USA

By Thomas J. Stanley on Dec 3rd, 2013 in Mentor's Corner

What a weekend for college football! [As a side note I always thought that college football is a better product than what is offered by the NFL.]  But when I watch a collegiate game, no matter how exciting, I can’t help thinking beyond the gridiron.   University towns often provide an ideal environment for small business enterprises.   The cultural amenities […]

Millionaires’ Success Factor #3: People Skills

By Thomas J. Stanley on Oct 29th, 2013 in Mentor's Corner

Ford CEO Alan Mulally is the best business leader to come along since Lee Iacocca.  He was a featured speaker recently at The University of Georgia’s CEO Forum.  Part of his presentation was quoted in USA Today: One thing I learned from [my parents] was that it is nice to be important but it is more […]

Finding the Ideal Mentor

By Thomas J. Stanley on Oct 15th, 2013 in Mentor's Corner

One of Anne’s tennis partners recently reported that her grandson was hired by a consulting company with a base salary of $94,000 a year.  Anne wondered if this was possible given the fact that “he just graduated with a BBA degree, not an MBA.” I told Anne that it was quite possible, especially since this young man graduated from a […]

Ancient Pyramids: A Productive Use of Resources?

By Thomas J. Stanley on Oct 1st, 2013 in Mentor's Corner

While channel surfing, you are bound to come across programs on the “glory” of ancient Egypt.   Perhaps these programs should have a warning label.  No doubt the pyramids constructed during this time were quite impressive feats of engineering and management.  But they were  products of a system where wealth and the control of the nation’s resources were in the hands of […]