Tag: The Millionaire Next Door

Symbol of Real Achievement- Your Business or Your Home

By Thomas J. Stanley on Apr 29th, 2014 in Studying the Wealthy

A shelter publication that profiles homes and their owners wants to feature Travis and his family.  After reviewing several of the back issues that Travis shared with me, I realized that they contained mostly pictures of the interior, including floor plans, as well as the exterior of the homes of the featured families.  What a great way […]

Millionaires’ Favorite Chapter in The Millionaire Next Door

By Thomas J. Stanley on Apr 22nd, 2014 in Studying the Wealthy

I like to ask millionaires who have read The Millionaire Next Door what their favorite chapter is.  You may be surprised to learn that it is not Chapter 2, Frugal, Frugal, Frugal.  This chapter details the frugal lifestyle of millionaires in terms of the modest prices paid for clothing, shoes, watches, motor vehicles, etc.  This is merely a […]

Does Your Chosen Vocation have Great Market Opportunities?

By Thomas J. Stanley on Mar 25th, 2014 in Studying the Wealthy

You don’t have to have extraordinarily high analytic intellect to become economically successful in America.  If you have great discipline and leverage your creative intellect you will likely become an achiever.  Under the heading of creative intellect are two factors that underlie the millionaire next door profile.  These include Factor 6, they are proficient in targeting market […]

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 […]

Common traits of successful corporate executives and the millionaire next door

By Thomas J. Stanley on Jan 14th, 2014 in Current Events

There are two forms of human intelligence.  One is cognitive intelligence [IQ] which I believe is highly correlated with SAT results, etc.  But as reported in The Millionaire Mind, Cognitive ability [IQ] tests have been notoriously poor predictors of leadership performance. . . .  Relations between intelligence and leadership and managerial performance . . . accounting […]

Nothing Soft About the Cost of Sodas

By Thomas J. Stanley on Sep 24th, 2013 in Current Events

The Wall Street Journal stated that the per capita consumption of carbonated soft drinks [sodas] in this country is 165.3 liters. Last month Bob, a millionaire next door in the making, contacted me about a related issue.  He heads a family of 5 which up until recently was a consumer of soda.  He wasn’t certain how much money his family […]

Reflections: Millionaire Next Door Myth #4: Used Cars

By Thomas J. Stanley on Sep 17th, 2013 in Studying the Wealthy

Last week a reader suggested that a review of previous research on the topic of motor vehicle purchases by millionaires was in order.  And I agree.  In Table 4-1, Motor Vehicles of Millionaires: Model Year in The Millionaire Next Door, I mentioned that nearly 1 in 4 millionaires (23.5%) owns the latest model year vehicle.  Some readers interpreted […]

Young Married Couples: Follow the Ways of The Millionaire Next Door

By Thomas J. Stanley on Jul 16th, 2013 in Mentor's Corner

Love should be the basis for a long and happy marriage. But even deep affection can be tarnished if a couple does not share the same goals and objectives.  J and J, both 28, are getting married this fall.  He is an engineer; she is an accountant.  Neither have any debt. Their combined 2013 income will be nearly $150,000 […]

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: […]

The Millionaire Next Door: a J.C. Penney Fan

By Thomas J. Stanley on Apr 30th, 2013 in Current Events

During the past two years J.C. Penney has implemented a dramatic change in its marketing strategy.  It called for greatly reducing the number of coupon/special on sale pricing and related promotional methods.  Its old method was replaced with the so-called stable, every day price point method.  And, according to The Wall Street Journal, this new strategy called for […]