Tag: wealth

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: […]

Continuing the Journey: Data Points

By Sarah Fallaw on Apr 21st, 2015 in Current Events

One of the projects my father and I were working on before his death was a new company called DataPoints. Based on his research and data, I created a company to provide financial institutions and individuals a way to determine individual wealth potential using assessments and reporting. My father was my chief advisor and mentor. […]

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 […]

Panning for the Gold in Life

By Thomas J. Stanley on Nov 11th, 2014 in Mentor's Corner

Last fall we accompanied our six grandchildren to a gold/gem “mining operation” in the north Georgia mountains.  This was in celebration of one granddaughter’s 6th birthday.  I understand that this was the site of the first major gold discovery in America.  Guests of this operation “pan for gold” out of local sand and rocks placed in individual buckets.  Semi-precious stones are also […]

Mom, Is that Lady in the Big House Rich?

By Thomas J. Stanley on Jul 23rd, 2013 in Studying the Wealthy

Mrs. C wrote an enlightening discussion about what she told her friend/neighbor’s child when the little girl ask if the lady down the street with the big house and fancy cars was rich. . . . I answered. . .with a statement I didn’t plan and it probably surprised my friend and her daughter as much it […]

Your Ah-ha! Moment

By Thomas J. Stanley on Apr 25th, 2013 in Other

In an earlier blog post, we discussed how career experiences, both successes and failures, can lead to moments of clarity (Working for those Ah-ha! Career Moments, August 2012). This post highlighted the fact that many successful millionaires have a wide range of experiences that help them determine a successful career path. Of course, a life-changing […]

Donor of $1 Billion Wears Resoled Shoes!

By Thomas J. Stanley on Feb 26th, 2013 in Studying the Wealthy

In a previous blog, I mentioned “that Mayor Michael Bloomberg of NYC, a billionaire, has ‘been wearing the same shoes of 10 years . . . .  owns only two pairs of work shoes . . . has them resoled.’” I also mentioned that according to the data in The Millionaire Mind of “the top […]

Financial Experiences Courtesy of You

By Thomas J. Stanley on Dec 11th, 2012 in Psychology and Careers

by Sarah S. Fallaw, Ph.D., Director of Research at AMI  In the Just Say No era of the 1980s, there were several memorable public service announcements (PSAs) that aired. None were perhaps as memorable as the one involving a father and son. The son, upon being asked who taught him to use various types of […]

The Low Profile Millionaire Next Door

By Thomas J. Stanley on Dec 1st, 2009 in Studying the Wealthy

A producer from ABC’s 20/20 news magazine television show once asked if I could identify neighborhoods where the millionaire next door types live. After checking my database, I pinpointed several neighborhoods where these people resided. The resulting televised program certainly raised eyebrows. Most of the homes depicted were in the $200,000 to under $400,000 price range. […]

Avoiding The Money Pit

By Thomas J. Stanley on Oct 1st, 2009 in Books and Publications

In my interview on The Dave Ramsey Show yesterday, I discussed the relationship between where one lives and the ability to accumulate wealth. Here is a continuation of the discussion from my new book, Stop Acting Rich. Most of the self-made millionaires I have studied have one thing in common: They were able to build wealth […]