Tag: economic outpatient care

A Nation of ‘Waiters’

By Sarah Fallaw on Sep 1st, 2016 in Current Events, Studying the Wealthy

The inter-generational wealth transfer that is looming in the United States is also being anticipated by our friends in Canada. “We are a nation of ‘waiters’” writes Garry Marr in the Financial Post, “as in, we are waiting for parents and grandparents to expire to get our windfall.” For a variety of reasons, that statement […]

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 […]

Economic Outpatient Care

By Thomas J. Stanley on Dec 8th, 2011 in Studying the Wealthy

Some  adult children who still live at home are in fact quite productive.  Take Tinny, for example. He started and stopped going to college several times. He had a variety of jobs but found them uninspiring.  At age 23 he moved back home.  But not to live off of his parents.  He began his small business operation […]

Physicians via Economic Outpatient Care

By Thomas J. Stanley on Mar 1st, 2011 in Studying the Wealthy

A physician recently contacted me about his experiences with economic outpatient care.  He had read The Millionaire Next Door and realized that his parents and grandparents fit the pro forma of the income statement affluent and balance sheet affluent, respectively.  His mother and father were corporate middle managers . “They spent everything.”  Nice home, nice cars, nice […]

“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 […]

Onshore versus Offshore

By Thomas J. Stanley on Sep 15th, 2009 in Current Events

If you recall from an earlier blog, Part 1: The Millionaire Next Door:  Swiss? Cheese only, I hypothesized that most people who are guilty of tax evasion are hyper consumers.  But not all of these tax cheats use offshore accounts.  In fact, I am of the opinion that there is a much greater number of […]