Tag: The Millionaire Mind

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 […]

Critics Are Needed to Build Your Resolve

By Thomas J. Stanley on Feb 24th, 2015 in Current Events

Harry owns a Jeep dealership.  Recently his 14 year old son told him that “some of the kids at school are teasing me over the headline in USA Today:  Jeep tops ‘Consumer Reports’ list of worst car values.  Earlier USA Today  published Consumer Reports’ “predicted liability by brand.”  Jeep ranked 27 of 28 makes.   […]

The Millionaire Next Door Mile Markers

By Thomas J. Stanley on Feb 17th, 2015 in Current Events

Most households in America with good to even great incomes, “have small levels of accumulated wealth.  Many live from paycheck to paycheck.”  And, as I also wrote in The Millionaire Next Door, these are the people who will benefit most from the book.  With this in mind you will understand my keen interest in the […]

Leadership 101, 102 . . . etc.

By Thomas J. Stanley on Feb 10th, 2015 in Mentor's Corner

The arch type millionaire next door is an economically successful self employed business owner.  In other words, he is an employer not an employee.  He is in essence a leader.  This fact has much to do with understanding something important about millionaire business owners.  There is little or no significant correlation between cognitive intelligence test scores […]

Needed: College Admission Measures that Judge Success in Life

By Thomas J. Stanley on Jan 20th, 2015 in Current Events

A headline in last week’s Wall Street Journal indicates a step in the right direction for college admission criteria: “Colleges Put the Emphasis on Personality: Some Shift Focus Away from Test Scores in Deciding Which Students to Admit” Yet even adding measures of perseverance, adaptability and discipline to the college admission process is not enough.  […]

To Build Wealth Be Careful Where You Land

By Thomas J. Stanley on Jan 13th, 2015 in Current Events

. . . most of the self-made millionaires I have studied . . . were able to build wealth precisely because they never lived in a home . . . where their domestic overhead made it difficult for them to build wealth.  (Stop Acting Rich) Along these lines consider the ratio of the median household […]

Where Did the Designer of Your Car’s Engine Attend College?

By Thomas J. Stanley on Dec 9th, 2014 in Current Events

Thank you, Mr. S.Y., for your recent 5-star review of The Millionaire Mind.  In it you succinctly explained the book’s theme, focusing on the key table [Table 2-1] “Millionaire Success Factors.” . . . least important (success factor) . . . graduating near/at the top of my class.  (ranked 30th of 30 factors) This component is […]

Most Millionaire Business Owners Never Sell to the Ultimate Consumer

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

The arch type millionaire is a self employed business owner/entrepreneur.  Thus it is not surprising that many people ask, “But what type of businesses do they own?”  To these readers I say, “Well, take a look at the 6 columns of business types listed in Appendix III in The Millionaire Next Door and the 12 columns […]

Would you read The Millionaire Next Door for $500?

By Thomas J. Stanley on Oct 14th, 2014 in Lessons Learned

A recent email from John, a millionaire next door from Texas, reads as follows: I have given your book [The Millionaire Next Door] to three high school honor graduates in the last couple of years.  I also gave them a check for $500.  I told them I would give them ANOTHER $500 when I received a 2 […]

Integrity, The Bedrock of the Road to Success

By Thomas J. Stanley on Sep 2nd, 2014 in Studying the Wealthy

Here’s an assignment designed to enhance the future socioeconomic productivity of your children, grandchildren, etc.  Turn to Page 34 in The Millionaire Mind, Table 2-1 “Millionaires’ Success Factors.”  There you will find thirty success factors ranked in importance by a national sample of 733 respondents who represent a fraction of the top 1.0% of wealth holders […]