Tag: advice

Consumption: Full Speed Ahead

By Sarah Fallaw on Jan 2nd, 2017 in Current Events, Lessons Learned

If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in last week’s Wall Street Journal wove an […]

Spending Non-Financial Resources

By Sarah Fallaw on Dec 30th, 2015 in Psychology and Careers

How will you spend your time, emotions, and brainpower in the new year? From becoming emotionally involved in politics to the drama in what neighbors are buying, my father recognized that distractions could be a key source of why many struggle to become financially independent or achieve other goals. He gave us this advice on financial fitness last January: […]

Year ‘Round Gifts: Clients for Life

By Thomas J. Stanley on Dec 22nd, 2009 in Other

Still looking for that perfect gift for your clients or business associates? Below I describe the ultimate gift for anyone in business. What is the most powerful method of influencing those who influence many other affluent prospects? As a general rule, it is the dimension of networking called “revenue enhancement.”  Ask most successful business owners, […]

$1 Million: Something or Nothing? (Part II)

By Thomas J. Stanley on Dec 10th, 2009 in Studying the Wealthy

Among the millionaire types profiled in Part I, what are some of the occupational groups that tend to have higher wealth indices than the norm? Some of these include: self-employed business owners (non-retail); executives of privately held corporations (see: The Millionaire Next Door); educators (and those married to an educator, see Stop Acting Rich, pp. […]

“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 […]

The Low Profile Millionaire Next Door

By Thomas J. Stanley on Dec 1st, 2009 in Studying the Wealthy

A producer from ABC’s 20/20 news magazine television show once asked if I could identify neighborhoods where the millionaire next door types live. After checking my database, I pinpointed several neighborhoods where these people resided. The resulting televised program certainly raised eyebrows. Most of the homes depicted were in the $200,000 to under $400,000 price range. […]

Costumes: Not Just for Halloween

By Thomas J. Stanley on Oct 27th, 2009 in Lessons Learned

One of my earlier blogs, The Downside to Understating Your Wealth, apparently hit a chord with many of you. Mrs. Davis, a teacher, told me that her memory was jogged after reading about the Honda driving doctor who couldn’t get into the hospital’s parking lot. Here is her contrasting story on the upside of understating your wealth.  […]

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 […]

Part 2 of 3: The Millionaire Next Door. . . Swiss? Cheese only.

By Thomas J. Stanley on Sep 8th, 2009 in Current Events

Why is it that most of the millionaire next door types do not cheat on their taxes?  One of the reasons is that on average they only pay the equivalent of 2.1% of their net worth in income tax each year.  From The Millionaire Next Door that is $79,000 in tax and a net worth […]

Networking (and Saving) Advice for Entertainers

By Thomas J. Stanley on Aug 3rd, 2009 in Mentor's Corner

I received an inquiry regarding marketing/networking advice last week from a Grammy-nominated recording artist. I’ve included the note (with name changed), my response to her question, as well as advice for those in the entertainment industry below. Dr. Stanley, How do I apply your techniques to music marketing – I am a recording artist. All […]