Tag: The Millionaire Next Door

The Handbag Challenge

By Sarah Fallaw on Jun 14th, 2016 in Current Events, Lessons Learned

For many of us, handbags hold our entire lives. My life is held in a six-year-old mom purse, coated on the inside with a thin layer of dried Cheerio powder mixed with applesauce and regularly confused with a punching bag. I have a running joke with my colleagues at Data Points that I’m not buying a new […]

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 […]

Finding The Millionaire Next Door

By Sarah Fallaw on Feb 16th, 2016 in Current Events, Psychology and Careers

Where is the millionaire next door? Part of my father’s role as an advisor to DataPoints was to guide the creation of assessments that could measure the same factors critical to building wealth in a broad population of financial decision-makers, not just the wealthy or those with high incomes. The assessments, measures of behaviors and life […]

A New Home for The Millionaire Next Door

By Sarah Fallaw on Nov 3rd, 2015 in Current Events Works of Thomas J. Stanley

Always a teacher, my father loved uncovering hidden trends in the economy, in consumer behavior, and in marketing research, and then sharing them with others. He loved reading articles in newspapers, cutting them out, making notes all over the margins, and then turning those findings into essays on how individuals approach money. I would share […]

Researching Wealth and Identifying Potential

By Sarah Fallaw on May 14th, 2015 in Current Events

Data collection is underway for a follow up study on wealth in America, the first reported by my father, Thomas J. Stanley, in The Millionaire Next Door. In addition to examining some of the timeless areas such as asset allocation and automobiles, we have included new fields of study, particularly in behavioral finance. Quick anecdote: […]

Recommended Reading from Nick Murray

By Sarah Fallaw on Apr 29th, 2015 in Current Events

In a recent edition of Financial Advisor magazine, Nick Murray wrote a piece on The Millionaire Next Door and Dr. Thomas J. Stanley’s life. Mr. Murray, an expert in his own right, discusses the book in the context of the time it was written and the way in which stories were blended with statistics to illustrate how seemingly […]

Trading on Anticipated Future Wealth: Homes & Cities

By Sarah Fallaw on Apr 9th, 2015 in Current Events

A recent article in The Boston Globe highlights the issues Bostonians are considering related to purchasing homes in affluent areas. The piece recites a financial-planning principle: “A bit of perspective: In many parts of the country, the rule of thumb is that housing costs should occupy a third of one’s income. Here, that standard frequently […]

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 […]

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 […]

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 […]