Tag: The Millionaire Next Door

A Personal Finance Favorite for the Holidays!

By Thomas J. Stanley on Dec 16th, 2014 in Current Events

In the last few weeks a variety of articles have popped up recommending books on financial topics as gifts this holiday season.  I was especially pleased to read Adam Zoll’s Great Book Ideas for the Investor on Your List on Morningstar.com.  I understand that Morningstar readers were asked to indicate their favorite books on the topics of investing and […]

The Millionaire Next Door Prescribed for Pharmacy Students!

By Thomas J. Stanley on Dec 2nd, 2014 in Mentor's Corner

While  waiting at the pharmacy in a large supermarket recently, I saw 5 or 6 young pharmacists working very hard filling prescriptions, taking orders, and consulting with customers.  Yes it is hard work, but they are very well paid (nearly twice the median income of an American household).  Typically these pharmacists spent 5 years in […]

Black Friday Sales

By Thomas J. Stanley on Nov 25th, 2014 in Current Events

Where can you find the millionaire next door on Black Friday?  At work!

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 […]

Building Wealth Revisited

By Thomas J. Stanley on Nov 4th, 2014 in Mentor's Corner

When I wrote The Millionaire Next Door I had several purposes in mind.  One was to educate those who make good to great incomes but who have accumulated low levels of net worth.  I first wrote about this topic in a 1992 article entitled, “Why You’re Not as Wealthy as You Should Be.”  Often what happens in this […]

Wealth Means Independence, Self Determination and Control of One’s Life

By Thomas J. Stanley on Oct 21st, 2014 in Lessons Learned

Here is an extraction from a review of The Millionaire Next Door.  The writer [Mr. M] clearly understands the benefits of being wealthy.    My wife and I are self-made millionaires, and we followed the principles outlined in this book. Wealth means independence, self determination, and control of one’s life.  In the review Mr. M respond[ed] to one […]

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 […]

J.C. Penney Patronized by The Millionaire Next Door

By Thomas J. Stanley on Jun 24th, 2014 in Current Events

A recent article in The Wall Street Journal stated that “J.C. Penney reported quarterly results late Thursday and its shares soared 16% Friday.”  I’m delighted that J.C. Penney is rebounding from its brief and ill-advised venture into fashion boutique world.  Much of its current success appears to be a function of the company returning to […]

Young CPA Lives by the Principles Found in The Millionaire Next Door

By Thomas J. Stanley on Jun 10th, 2014 in Studying the Wealthy

Most millionaire next door types and those on their way were raised in a nurturing environment filled with harmony, mutual respect, discipline and frugality.  As an example please review the following case study from one of my readers.  While still in high school, my parents had both my brother and I read The Millionaire Next […]

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 […]