Tag: The Millionaire Mind

Self-employed: Working for Yourself or Your Creditors?

By Thomas J. Stanley on May 27th, 2014 in Lessons Learned

Davis is a millionaire business owner. Earlier in his career he was asked “where do you do your business banking?”  He responded, “I bank at the bank of abuse.”  It seems that Davis encountered an ever occurring change in loan officers who were constantly condescending and aloof.  And no matter how often he repaid his […]

Wealth Is Attracted to People Who Respect Money

By Thomas J. Stanley on May 13th, 2014 in Current Events

In an editorial in The New York Times, it was stated that: A million dollars used to be a magic number, a sign of permanent affluence.  You made it!  But now it won’t buy you . . . [the array then follows]. I have found that journalists have a tendency to discount the importance of […]

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 […]

Critics Necessary to Weed Out Those Who Lack Courage and Resolve

By Thomas J. Stanley on Mar 4th, 2014 in Lessons Learned

Roy is about to transition from being an employee to a self employed business owner.  He has many of the characteristics which are important for succeeding in business.  He is very knowledgeable in his field, he is well-disciplined, he has excellent work habits, and he has a stellar credit rating.  He and his family live well […]

View Adversity as an Opportunity to Strengthen Your Resolve to Succeed

By Thomas J. Stanley on Jan 28th, 2014 in Mentor's Corner

Success is more akin to a marathon than a sprint.  In fact, for many, success only emerged after they were able to negotiate their way through a series of gauntlets of adversity.  I was once again reminded of this after reading a Wall Street Journal article appropriately titled, Entrepreneur Let No Impediment Stop Him: Out […]

Millionaires’ Success Factor #3: People Skills

By Thomas J. Stanley on Oct 29th, 2013 in Mentor's Corner

Ford CEO Alan Mulally is the best business leader to come along since Lee Iacocca.  He was a featured speaker recently at The University of Georgia’s CEO Forum.  Part of his presentation was quoted in USA Today: One thing I learned from [my parents] was that it is nice to be important but it is more […]

Key Millionaire Factor: A Supportive Spouse

By Thomas J. Stanley on Oct 22nd, 2013 in Lessons Learned

In the course of conducting research for The Millionaire Mind, the topic of “choice of spouse” was highlighted.  One of the respondents, a decamillionaire and senior corporate executive, spoke of the importance his wife had played in his success.  He recounted, “the joy of being married to an unselfish, intelligent and nurturing spouse.”  After two years […]

SAT 800s; GPA 2.5; Wealth $1.7M

By Thomas J. Stanley on Aug 20th, 2013 in Lessons Learned

Given his less than stellar academic background, W.K.’s job prospects were limited.  Consequently he realized that he would have to become his own employer.  In that way he would be evaluating his own job application.  Today he is quite successful as a self employed mortgage broker.  According to W.K.,43, not one of his $1.7M of net worth ever asked […]

Honesty is the Best Marriage Policy

By Thomas J. Stanley on Jun 4th, 2013 in Lessons Learned

What if you are contemplating marrige and you have outstanding debts?  Honesty is the best policy here.  You should advise your future spouse about your financial situation and you’d be smart to discuss further your proposed way of eliminating this debt.  I am reminded of this fact by Doug who shared his life changing moment: […]