Studying the Wealthy

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 […]

Independence Day Physician Revisited

By Thomas J. Stanley on Jun 30th, 2014 in Studying the Wealthy

In honor of the Fourth of July I’d like to reflect upon the content of a previous blog (see below). When it was posted several people misinterpreted the message.  The physician profiled is anything but mean spirited in regard to the significant number of dollars he pays in income tax.  He believes that “if you’re paying a lot of income […]

Millionaire Factor 6: They are Proficient in Targeting Market Opportunities

By Thomas J. Stanley on Jun 17th, 2014 in Studying the Wealthy

Maria McFriendly was profiled in Millionaire Women Next Door and in an earlier blog.  Maria was raised in an environment that was anything but nurturing.  Her father was a chauvinist and an elitist.  He often told her that she was not college material, “she repeatedly scored in the 900s [out of 1600] on her SATs.”  […]

Young CPA Lives by the Principles Found in The Millionaire Next Door

By Thomas J. Stanley on Jun 10th, 2014 in Studying the Wealthy

Most millionaire next door types and those on their way were raised in a nurturing environment filled with harmony, mutual respect, discipline and frugality.  As an example please review the following case study from one of my readers.  While still in high school, my parents had both my brother and I read The Millionaire Next […]

Symbol of Real Achievement- Your Business or Your Home

By Thomas J. Stanley on Apr 29th, 2014 in Studying the Wealthy

A shelter publication that profiles homes and their owners wants to feature Travis and his family.  After reviewing several of the back issues that Travis shared with me, I realized that they contained mostly pictures of the interior, including floor plans, as well as the exterior of the homes of the featured families.  What a great way […]

Millionaires’ Favorite Chapter in The Millionaire Next Door

By Thomas J. Stanley on Apr 22nd, 2014 in Studying the Wealthy

I like to ask millionaires who have read The Millionaire Next Door what their favorite chapter is.  You may be surprised to learn that it is not Chapter 2, Frugal, Frugal, Frugal.  This chapter details the frugal lifestyle of millionaires in terms of the modest prices paid for clothing, shoes, watches, motor vehicles, etc.  This is merely a […]

“America’s Best Days Lie Ahead” Says Mr. Buffett

By Thomas J. Stanley on Apr 1st, 2014 in Studying the Wealthy

When Warren Buffett speaks, I listen.  As you know Mr. Buffett is one of the best prognosticators this country has ever produced.  His stellar track record as an investment manager is a function of not only his genius but also his strong belief in the American economy.  Thus I was not surprised to read in Berkshire […]

Does Your Chosen Vocation have Great Market Opportunities?

By Thomas J. Stanley on Mar 25th, 2014 in Studying the Wealthy

You don’t have to have extraordinarily high analytic intellect to become economically successful in America.  If you have great discipline and leverage your creative intellect you will likely become an achiever.  Under the heading of creative intellect are two factors that underlie the millionaire next door profile.  These include Factor 6, they are proficient in targeting market […]

Corvettes in Blue Blood Estates?

By Thomas J. Stanley on Jan 21st, 2014 in Studying the Wealthy

In Stop Acting Rich I profiled the glittering rich:  people who generate extremely high incomes, have a vast amount of wealth at their disposal, and spend accordingly on high prestige cars, mansions, etc.  No matter what they spend their money on, though, it is just a fraction of their overall net worth.  These people are […]