Tag: The Wall Street Journal

“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 […]

Betting on The Rapid Demise of Millionaires

By Thomas J. Stanley on Jan 11th, 2011 in Current Events

Shortly after I first met my friend and colleague, Jon, he mentioned that his mother-in-law lived with them.   Jon told me that she had been diagnosed with terminal cancer.  “How long ago was this diagnosis made?” I asked.  I’ll never forget his response: Twenty years ago!  She is tough as a lizard! I was once […]

A Cultivator of Wealth

By Thomas J. Stanley on Oct 21st, 2010 in Studying the Wealthy

Have you ever wondered about why so many millionaire next door types understate their considerable socioeconomic success?  They don’t have a strong need to display their economic productivity by buying  luxury products and expensive homes.  In a major way, their real achievements are the badges of their success. For example, financial success, especially economic independence, is its own […]

Second Homes… Part II

By Thomas J. Stanley on Sep 7th, 2010 in Current Events

  According to an article published in Atlanta Magazine’s Home, “owning a vacation home affords you prestige among peers, business associates and family members.”  Webster’s defines prestige as the power to command admiration or esteem. . . distinction based on achievement; having or showing success, rank, wealth, etc.  Do you want to command admiration instantly, […]

Second Homes… Part I

By Thomas J. Stanley on Sep 2nd, 2010 in Studying the Wealthy

A recent Wall Street Journal article indicated that a variety of developers of expensive vacation homes are responding strategically to the meltdown in their market.  In short, they are providing vacation home opportunities of the downsized variety.  “. . .building smaller less expensive homes in resort communities. . . this pitch may sound a little funny: ‘affordable housing for the […]

The Real Cost of Homeownership

By Thomas J. Stanley on Aug 31st, 2010 in Current Events

 The New York Times published a front page article recently entitled in the print edition “Your Home as Sure Nest Egg? That Era Is Over, Analysts Say.”  I’m not sure what “era” they are talking about.  As I said in Stop Acting Rich, overall single family, owner occupied homes were never the so-called nest egg that many people thought […]

Rich or Drive Rich?

By Thomas J. Stanley on Jul 29th, 2010 in Studying the Wealthy

People often contact me asking for special dispensation because they drive expensive prestige makes of motor vehicles. They maintain that this is an effective way to show others [especially prospective customers/clients] as well as themselves that they are successful. And every one of them tells me that they either got a great lease deal or purchased their […]

Listen to Your Analyst!

By Thomas J. Stanley on Jun 2nd, 2010 in Current Events

When my career first started, USA Today published excerpts from my national study of millionaires.  That morning a reporter from CBS Radio called me at home.  After responding to the who, what, when, where, how and why questions, I had to deal with one more.  The reporter asked, “Dr. Stanley, are you a millionaire?”  I told her […]

Big House; No Cattle

By Thomas J. Stanley on May 11th, 2010 in Current Events

A recently published article in The Wall Street Journal  indicated that nearly 15% of “homeowners” with outstanding mortgage balances of $4M or more were at least 90 days overdue in their payments.  That is nearly twice the rate for all home loans.  In America today there is growing number people of the “big house, no cattle” […]

Henry Is an Expert

By Thomas J. Stanley on Apr 20th, 2010 in Other

The senior vice president and head of national sales for a brokerage company once asked me an interesting question,  “If you can get millionaires to answer all your questions, would you consider interviewing our top financial advisors?  They are all great at making money for clients.  But there’s more to it.  How do they attract […]