Millionaire Next Door Stories

A Millionaire’s Treat on Halloween

By Thomas J. Stanley on Oct 31st, 2013 in Millionaire Next Door Stories

When I was a boy, we lived in a small apartment in a blue-collar section of the Bronx.  Just a quarter mile away was the wealthiest neighborhood in New York City, a residential community called Fieldston, aka Mansionville!  I was nine years old.  I told my eleven-year-old sister, “I’m disgusted with the marginal propensity of […]

One Man’s Junk, Another Man’s Treasure

By Thomas J. Stanley on Jul 26th, 2011 in Millionaire Next Door Stories

Most millionaire next door types are contrarians.  They think and act differently.  They are savers and investors in a population of hyper consumers.  Plus most have high creative intelligence.  This helps to explain why many of them are in niche, backwater, low status type businesses where competition is light or nonexistent.  In addition, as stated in The Millionaire Mind, four […]

A Cheap Date

By Thomas J. Stanley on May 5th, 2011 in Millionaire Next Door Stories

When people ask me about the activities of millionaires, I have a short answer.  As I wrote in The Millionaire Mind, the typical millionaire is, in three words, “a cheap date!”  Yes, a cheap date even among a fraction of the top 1% of the wealth holders in America.  Many of the favorite activities of […]

Freedom of Choice More Valuable than the Crown Jewels

By Thomas J. Stanley on Apr 28th, 2011 in Millionaire Next Door Stories

Tomorrow there will be a “royal” wedding in London.  I wish the couple much happiness.  However, I do feel somewhat sorry for them because their entire life together has already been scripted for them.  I don’t envy the fact that these people will never be able to encounter self made socioeconomic mobility.  In sharp contrast, even […]

The Millionaire Single Mom

By Thomas J. Stanley on Jan 27th, 2011 in Millionaire Next Door Stories

For most people, becoming financially independent requires adopting the lifestyle of the millionaire next door. Lifestyle of this type is all about disciplined behavior.  It is not about merely reading books on the topic, but about applying the concepts to your every day life.  All told there have been many more books published and sold […]

Stop Acting Rich: Live like Mrs. Johnson

By Thomas J. Stanley on Jan 24th, 2011 in Millionaire Next Door Stories

Not all people who inherit wealth spend it lavishly.  This is especially true if their parents were dyed-in-the wool millionaire next door types.  I was reminded of this fact in an article that I read about Mrs. Rosemary Johnson.  She bequeathed $2.23M to the Madison (WI) Community Foundation.  This foundation supports the local children’s museum, the YWCA, […]

Tony’s Reflections of a Millionaire Next Door

By Thomas J. Stanley on Jan 13th, 2011 in Millionaire Next Door Stories

Who are among the best at serving the needs of the millionaire next door types?  Often they are those who have had experiences with these types of people during their formative years.  Tony Schuman, a successful investment manager, was sensitized early in his life to the significant differences between the low profile millionaire next door and those […]

Teach Your Children Well: Case Example

By Thomas J. Stanley on Oct 28th, 2010 in Millionaire Next Door Stories

Christy is one of the most economically productive millionaire next door types whom I have interviewed.  She attributes much of her success to her upbringing. Her father was “career army”. . . a sergeant.  Her mother was a full time homemaker.  Household budgeting and a frugal family lifestyle were part of her earliest socialization process.  We would all […]

Finding Mr. (or Ms.) Right

By Thomas J. Stanley on Sep 21st, 2010 in Millionaire Next Door Stories

I ‘d like to respond to a letter I received from a 60 year old woman who was recently widowed.  In it she discusses her feelings about being single, wealthy and alone. She and her husband were married for over 37 years. He was a successful business owner who left her with multi millions. Her situation is […]

Teach Your Children Well- Part II

By Thomas J. Stanley on Sep 16th, 2010 in Millionaire Next Door Stories

In my last blog, I took on the diet police.  I argued that child obesity is more a function of the lack of parents instilling discipline and moderation in their children’s lifestyle than it is fast food companies and their products.  Children benefit from parental guidance in all aspects of their lives.  The following letter is a […]