Millionaire Next Door Stories

More than “Wishful Thinking”

By Thomas J. Stanley on Mar 2nd, 2010 in Millionaire Next Door Stories

Dr. Stanley: As a reader of both “The Millionaire Next Door” and “The Millionaire Mind,” this story immediately struck a chord with me, and I knew I had to share it with you. First some background, then the story.  For about a year, I had the pleasure of personally getting to know a self-made decamillionaire […]

A Millionaire on Less than $60K

By Thomas J. Stanley on Dec 15th, 2009 in Millionaire Next Door Stories

In an earlier blog, I mentioned that the typical Balance Sheet Affluent (millionaires) had an annual realized household income of $89,167 (median) when he first became a millionaire ($1 Million: Something or Nothing? Part I, and Stop Acting Rich, pp. 17-29). In other words, one half of the BAs had incomes that were less than this figure. What […]

“Life Changing Experience”

By Thomas J. Stanley on Dec 3rd, 2009 in Millionaire Next Door Stories

Why do I write about rich people? It’s not for the benefit of rich people. What I write is designed to benefit those who are confused and misinformed about what it means to be rich. Most Americans have no idea about the true interworkings of a wealthy household. The advertising industry and Hollywood have done […]

A Career In The Dirt

By Thomas J. Stanley on Nov 17th, 2009 in Millionaire Next Door Stories

In what types of careers do we find the balance sheet affluent, the millionaires next door? Many take an unconventional approach. Below is one of my favorite stories about careers, adapted from Millionaire Women Next Door. Marion was trained to be sensitive to opposing viewpoints and countertrends. Being different in thought and deed was something to be proud […]

How to Live Like a Real Millionaire, Part II

By Thomas J. Stanley on Oct 13th, 2009 in Millionaire Next Door Stories

More from our millionaire next door in the Southwest – Part II of the Millionaire Next Door story I received last month. We read in Part I that our “scientist of wealth” became a millionaire while his annual income was $78,000 and now has a net worth of $2.4 million. He and his wife did not/do not act rich, and […]

How to Live Like a Real Millionaire

By Thomas J. Stanley on Oct 8th, 2009 in Millionaire Next Door Stories

Case studies are a critical part of my research on millionaires and the affluent. Below is the first part of a Millionaire Next Door story I received last month from a “scientist of wealth.”  As you will see, you do not have to have a seven figure income to become a millionaire. A Letter from […]

Economic Opportunities Next Door

By Thomas J. Stanley on Sep 17th, 2009 in Millionaire Next Door Stories

Some millionaires have more than one job. You might recall an earlier blog about Jerry, the pharmacist, who was also a business broker. Murray also has two vocations: he is a high school teacher who also owns and operates a house painting company. His case study may provide much food for thought for those who are […]

Millionaire Farmers and the Girl Scouts

By Thomas J. Stanley on Aug 19th, 2009 in Millionaire Next Door Stories

Consumer indulgences do not make one wealthy.  In fact, they are substitutes of wealth, not complements.  I once had an interesting experience while presenting these and related facts to a group of fund-raisers from colleges and universities, hospitals, youth groups, and a variety of eleemosynary organizations which were responsible for identifying prospective donors.  I explained […]

A Networking Pharmacist…and Millionaire Next Door

By Thomas J. Stanley on Jul 29th, 2009 in Millionaire Next Door Stories

Jerry the Pharmacist – Focus groups with millionaire-next-door types are always interesting. Participants in one particular focus group I conducted had to have a financial net worth of at least $5 million. At the onset, I asked each respondent to introduce themselves and briefly profile their vocations.  First there was a man who produced scientific […]

Moving On to Success

By Thomas J. Stanley on Jul 17th, 2009 in Millionaire Next Door Stories

Supreme Court nominee, Sonia Sotomayor, though not a millionaire, is typical of most successful women, as well as men.  In my surveys, about 80% of both reported having a nurturing and loving home environment while growing up. In fact, 89% reported that their parents were never divorced. This does not mean that you cannot succeed […]