Tag: The Millionaire Mind

Conservatives or Liberals: Who Give More? Part II

By Thomas J. Stanley on Jul 21st, 2011 in Studying the Wealthy

Why are liberals less productive in transforming their income into wealth than conservatives?  For many high income producing liberals their capital is their high intellect.  Or as one liberal respondent, a high income producing physician, said:  “[money] income is the most easily renewable resource.”  This liberal Phi Beta Kappa, Regent’s Scholar, cum laude graduate never […]

Unselfish Spouse = Wife for Life

By Thomas J. Stanley on Jun 16th, 2011 in Mentor's Corner

I have been receiving an increasing number of inquiries about “will I be happy, will I be rich” if I marry Susie, Sally . . . ?  Guys, I don’t have a crystal ball when it comes to choice of spouse.  All I can tell you are the qualities of a spouse that contributed to […]

Millionaire: Tell Me About Your Spouse

By Thomas J. Stanley on Jun 7th, 2011 in Studying the Wealthy

Last Friday I posted an article from Biz Daily which highlighted the findings from The Millionaire Mind about the importance of having a supportive spouse while building a business and wealth.  As I said in the beginning of Chapter 6, Choice of Spouse: Can you live forever?  Marry the wrong spouse and every day will feel like an eternity.  […]

The Millionaire Mind . . . Alive and Even Richer

By Thomas J. Stanley on May 12th, 2011 in Books and Publications

It seems that there is more interest now in how the top 1% of the wealth holders in America think than there was when The Millionaire Mind was first published.  The principles revealed in this book are timeless and especially important for those who are business owners and for those who are compensated purely on their […]

A Cheap Date

By Thomas J. Stanley on May 5th, 2011 in Millionaire Next Door Stories

When people ask me about the activities of millionaires, I have a short answer.  As I wrote in The Millionaire Mind, the typical millionaire is, in three words, “a cheap date!”  Yes, a cheap date even among a fraction of the top 1% of the wealth holders in America.  Many of the favorite activities of […]

Building Wealth is a Marathon, Not an SAT Score

By Thomas J. Stanley on Apr 7th, 2011 in Studying the Wealthy

In The Millionaire Mind, I said that the process of building wealth is a marathon.  How well you do in this race involves much more than grade point averages . . . .  Standardized testing [SATs, GREs,] cannot be substituted for actually running the race.  Otherwise our government could just redistribute our nation’s wealth each […]

Wal-mart CEO-Leadership

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

In The Millionaire Mind, I mentioned that the millionaire population contains a disproportionately high concentration of people who told me that integrity is a critical factor in explaining their economic success.  “Being honest with all people” was tied [with being well disciplined] for first in regard to the percentage of millionaires who rated it as […]

Finding a Convoy of Mr. Rights

By Thomas J. Stanley on Feb 22nd, 2011 in Lessons Learned

Kay S. Hymowitz, writing in The Wall Street Journal, asks, “where have all the good men gone?” She contends that a growing number of American “men in  heir 20s are living in a new kind of extended adolescence.” While it is true that there are more unproductive males in their 20s today, there are still […]

“Chinese Mother”- Not of the Millionaire Next Door!

By Thomas J. Stanley on Jan 20th, 2011 in Studying the Wealthy

What is the meaning of success?  Some define it in terms of occupational status, income, net worth, power, and even the size and location of one’s home.  But these factors are not necessarily the ones held by Amy Chua who wrote an article, Why Chinese Mothers are Superior, in The Wall Street Journal.  Ms. Chua claims, “A […]

Doctor of Tenacity

By Thomas J. Stanley on Jan 18th, 2011 in Lessons Learned

Most self made millionaires rank high on the tenacity scale.  They report that this characteristic was developed  in part during their secondary school and college experiences.  The majority (76%) of the millionaires I surveyed report that tenacity and hard work account for why they consistently achieve at a high level.  Plus, as I said in The Millionaire […]