Tag: discipline

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 […]

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 […]

On the 20th Anniversary of The Millionaire Next Door

By Sarah Fallaw on Oct 20th, 2016 in Books and Publications, Current Events

As we progress through this election cycle I am having a bout of deja vu.  We’ve been here before. Back in 1996 we were watching another election cycle that involved the Clintons–Bill Clinton versus Bob Dole versus Ross Perot.  We were also seeing increased technology addiction (chatting on dial-up ISPs), and feeling as if threats […]

Respect for The Classics

By Sarah Fallaw on Jul 13th, 2016 in Mentor's Corner

My brother and I grew up on healthy doses of Led Zeppelin, The Rolling Stones, and Eric Clapton, to name a few. My father had these artists on vinyl albums, tapes, and later, CDs. Now that he’s gone, I smile when I hear “Gimme Shelter” or “Tangerine,” remembering him with bittersweet emotions. My father respected […]

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 […]

Stay Financially Fit All Year Long

By Thomas J. Stanley on Jan 6th, 2015 in Mentor's Corner

Next year will be the 20th anniversary of the publication of The Millionaire Next Door.  It keeps on selling!  In fact there is a seasonal component in terms of demand for the book.  Why is it that sales seem to be highest the first few weeks after the Christmas/New Year’s festivities?  I believe that many […]

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 […]

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 […]

Millionaires With Marine Corps Discipline

By Thomas J. Stanley on Mar 18th, 2014 in Mentor's Corner

The national sample of 733 millionaires, the base for my book The Millionaire Mind,  is representative of a fraction of the top 1% of wealth holders in America. Out of the 30 success factors they rated, integrity and discipline ranked in a tie for first place.   It is hard to overemphasize the importance of discipline in […]

Use Your Creative Intellect Wisely

By Thomas J. Stanley on Mar 11th, 2014 in Lessons Learned

As I stated in The Millionaire Mind, Integrity is a part of life’s curriculum.  It is a pass/fail course.  If you lack integrity, most millionaires will tell you that will not and should not graduate to economic success.  The millionaires surveyed became rich without compromising their integrity.  In fact, they credit their integrity with significantly […]