Tag: children

The Great American Summer Job

By Sarah Fallaw on May 24th, 2017 in Current Events, Lessons Learned, Mentor's Corner, Psychology and Careers

Waiting tables, mowing lawns, babysitting, retail sales, camp staff, stockroom: how many of these summer jobs did you have in high school and college? What about the teens you know – are they working this summer? When I saw the headline that retail jobs that once filled the time of teenagers looking to make money […]

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 […]

A Mentor with The Millionaire Mind

By Thomas J. Stanley on Jan 26th, 2010 in Mentor's Corner, Other

Last Sunday, a church in our neighborhood sponsored a sandwich drive. Members and their friends who volunteered made 12,000 bologna and cheese sandwiches for homeless people in the downtown area. About half of the people who participated included families with young children. This is a great learning experience for youngsters who are part of middle class America. It teaches them more […]

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 […]

“Other People’s Money” for Clunkers

By Thomas J. Stanley on Nov 10th, 2009 in Current Events

My friends in the trust and estate business refer to it as OPM, that is, Other People’s Money. How well do people spend other people’s money? The pat answer is “not as well as if they earned it themselves.” Thus, many of my friends believe that it is not a good idea for wealthy parents to […]

The Millionaire Life: Beyond Those Next Door

By Thomas J. Stanley on Oct 20th, 2009 in Studying the Wealthy

Why did I write The Millionaire Mind? Because many of those who read The Millionaire Next Door felt that the “frugal” millionaires profiled there were too monk-like! I refer to the millionaires in The Millionaire Mind as 27-percenters, i.e. only 27 percent of those people who live in homes valued at $1 million or more are […]

My First Encounter with a Millionaire

By Thomas J. Stanley on Aug 24th, 2009 in Studying the Wealthy

When I was a boy, we lived in a small apartment in a blue-collar section of the Bronx.  Just a quarter mile away was the wealthiest neighborhood in New York City, a residential community called Fieldston, aka Mansionville!  I was nine years old.  I told my eleven-year-old sister, “I’m disgusted with the marginal propensity of […]

Millionaires on “The Herd”

By Thomas J. Stanley on Aug 11th, 2009 in Current Events

Last Thursday (August 6, 2009), I was listening to Colin Cowherd on ESPN Radio.  I consider him to be the best and brightest radio host in America.  I also admire him because he has been saving 40% of his income every year since he started working.  Mr. Cowherd pointed out that 92% of the millionaires […]