Studying the Wealthy

A Lesson in Financial Independence

By Thomas J. Stanley on Oct 24th, 2012 in Studying the Wealthy

I lived for a few years like no one wants to so that I can live for the rest of my life like no one can. This is the basic success formula recently reported by one of my readers.  In the following paragraphs, another reader, Honey, paints a similar picture of how her mother became a […]

Manufacturer with Smallest % of Subprime Car Buyers: Honda

By Thomas J. Stanley on Oct 10th, 2012 in Studying the Wealthy

Early in my career I wrote an article entitled “Why You’re Not as Wealthy as You Should Be.”  It was published in Medical Economics and later extracted for Reader’s Digest.  Much of the details were later incorporated into my books.  Those who have accumulated significantly less wealth than the norm for their respective age and income […]

1 in 3 Millionaires Funded 100% of Their College Education

By Thomas J. Stanley on Oct 2nd, 2012 in Studying the Wealthy

Debt is like jail- easy to get in, hard to get out.  As an example consider the data recently published by The Federal Reserve: more than 2 million Americans 60 and older own a combined $43 billion in student loan debt the average debt among the 60 and older set is $19,000 115,000 of US seniors [are having […]

Big House Only After Big Wealth!

By Thomas J. Stanley on Sep 26th, 2012 in Studying the Wealthy

The Millionaire Mind contains a chapter entitled “The Home.”  The millionaires (733) in the book represent a fraction of the top 1% of wealth in America.  On average their homes have a market value of approximately $1.4M (or about 2.5 times the original purchase price 12 years earlier).  Their average net worth is $9.2M. About […]

The “Jerry” Method of Raising Economically Productive Children

By Thomas J. Stanley on Sep 12th, 2012 in Studying the Wealthy

In a recent blog, I discussed ways to raise economically productive children.  Jerry responded with one of the most informative case studies that I have read to date.  I was raised by frugal parents. They didn’t have a credit card until they were almost 50 years old – and only then because they started to travel […]

Hyperspending Parents = Hyperspending Children

By Thomas J. Stanley on Sep 5th, 2012 in Studying the Wealthy

Another top 10 most often asked question:  Why is it that my adult children are hyperconsumers? My simple and straightforward answer:  Typically it is because their parents taught them to be spenders!  Hyperspending parents tend to raise hyperspending children.  These parents violated Rule 1 for raising productive adults [from The Millionaire Next Door]: Rule 1: Never […]

Rule 2: Raising Children To Become Productive Adults

By Thomas J. Stanley on Aug 21st, 2012 in Studying the Wealthy

A top 10 most often asked question:  How can I make sure that my children grow up to be economically productive adults? My answer: There are no sure things when raising children.  But I have found that most millionaire next door types were raised by parents who were disciplined and frugal.  Parents in such cases […]

All That Glitters. . .

By Thomas J. Stanley on Jul 17th, 2012 in Studying the Wealthy

In my last blog, I commented on a small but highly compensated blue collar occupational group, materials handlers, that is often misjudged and overlooked by marketers of a variety of affluent products and services.   The following case study is intended to provide an example of this phenomenon. About ten days before Christmas, I walked into a crowded specialty store near […]

More Frugal than Expected: Senior Executives

By Thomas J. Stanley on Jun 13th, 2012 in Studying the Wealthy

In my last blog, J.R. profiled his father-in-law who is the CEO of a major public corporation.  He provided considerable evidence that his father-in-law is the millionaire next door type.   Interestingly most senior corporate executives understate their wealth.     Dear J.T.: Thank you for your insightful profile.  My research over the years has found that […]

Shoes Resoled; Coupons Clipped; Net Worth: $25M+

By Thomas J. Stanley on Jun 5th, 2012 in Studying the Wealthy

Mr. J.T. recently contacted me with a candid profile of his father-in-law. I read your books. . . . obvious to me that my father-in-law is almost exactly the millionaire next door type. . . .  . . .he is a rather well-known CEO of a publicly traded company.  He is 57 years old. . . married […]