Studying the Wealthy

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 […]

A Nation of ‘Waiters’

By Sarah Fallaw on Sep 1st, 2016 in Current Events, Studying the Wealthy

The inter-generational wealth transfer that is looming in the United States is also being anticipated by our friends in Canada. “We are a nation of ‘waiters’” writes Garry Marr in the Financial Post, “as in, we are waiting for parents and grandparents to expire to get our windfall.” For a variety of reasons, that statement […]

The Luxury of Indiscriminate Spending

By Sarah Fallaw on Apr 29th, 2016 in Lessons Learned, Mentor's Corner, Studying the Wealthy

Think about items that could be passed down to the next generation: jewelry, artwork, a treasured photograph, or a favorite book. What about the luxury of not being frugal? The luxury to buy whatever one wants? Are affluent parents passing down that “luxury” unknowingly? For those not fortunate enough to inherit large lump sums or […]

History: Wealthy Blue Collar Segment

By Sarah Fallaw on Jun 2nd, 2015 in Studying the Wealthy

How did the concept of The Millionaire Next Door begin? Below is a bit of history, originally published on the timeline: When did Dr. Stanley first profile the Millionaire Next Door population? Originally he used a different title in defining this segment. Dr. Stanley first coined the “Wealthy Blue Collar Segment” in a paper he wrote entitled […]

How come I am not wealthy?

By Sarah Fallaw on Mar 31st, 2015 in Studying the Wealthy

In the introduction to The Millionaire Next Door, a question is asked in the voice of the reader: How come I am not wealthy? The authors state: Many people ask this question of themselves all the time. Often they are hard-working, well-educated, high-income people. Why, then, are so few affluent?  As I am rereading The Millionaire Next Door, […]

Integrity, The Bedrock of the Road to Success

By Thomas J. Stanley on Sep 2nd, 2014 in Studying the Wealthy

Here’s an assignment designed to enhance the future socioeconomic productivity of your children, grandchildren, etc.  Turn to Page 34 in The Millionaire Mind, Table 2-1 “Millionaires’ Success Factors.”  There you will find thirty success factors ranked in importance by a national sample of 733 respondents who represent a fraction of the top 1.0% of wealth holders […]

Why Are the Rich Rich and the Poor Poor?

By Thomas J. Stanley on Aug 26th, 2014 in Studying the Wealthy

“Why are some people poor and others rich?” The answer to this question was the focus of a national survey of 1,504 adults conducted earlier by the Pew Research Center.  Only about 4 in 10 (38%) of the respondents indicated that the rich are rich “because he or she worked harder than others.” But how […]

Enlightened Parents Teach Their Children the Benefits of Independent Thought

By Thomas J. Stanley on Aug 19th, 2014 in Studying the Wealthy

Do all high income producers have high job satisfaction? No! But the ones who do are significantly more likely to agree with the following statements concerning their parents: 1. Encouraged me to think outside the box. 2. Taught me to never follow the crowd. 3. Encouraged me to take leadership roles. 4. Encouraged me to […]