From studying the affluent market for over 30 years I have learned how individuals who seem quite ordinary become the millionaires next door. This research has focused primarily on those who are very productive in transforming their incomes into wealth. In turn, I have tried to highlight the lifestyles, habits and background of this population through my seven books and this website.
As a continuation of this quest, Dr. Sarah Fallaw and I recently conducted a reader survey to find out what questions you might have for the millionaire next door. Many of you indicated that you would like to understand more about the characteristics, such as personality and interests, which can lead to wealth building over time. One of you asked: Can an introverted person, with no desire to be in sales, or to start a business, become wealthy? Others were interested in the kinds of experiences that those who accumulate wealth had in high school and college.
Our survey also asked for topics that you would like discussed in upcoming publications. One such topic mentioned was what experiences you as a parent could provide your children with to enhance their probability of becoming financially independent as an adult. As a result of your input, we have developed the Affluent Market Research Panel which will focus on the psychology of wealth building and further examine the habits of the wealthy. I would like to invite you to participate in these ongoing research efforts. Your input will be very important in formulating a foundation for the next generation of study areas.
I would be very interested to see timelines of people before they were millionaires and after. Like this:
1996: graduated high school with no money, started college at XYZ school and took out 45k loans to pay
2000 graduated XYZ school with 45k debt but landed job at BYZ company and began paying down loans. Lived on the cheap in Cincinatti and with two roommates etc etc
2001 First big raise to 55k. Spent too much money dating so decided to do online yada yada
I’d like to see trends or characteristics of those of relatively low income or non-professional employment who have achieved significant wealth. I think it is great when someone making $100K/yr becomes a millionaire but that’s not rocket-science. I’d like to know more about people making half that, raising a family, and still achieving a high net worth.
Would like to sign up, but an American zipcode is required. Would you like me to use a zip code that is not mine, or just not participate.
Please sign up! ZIP is not required.
I would like to know what kinds of challenges the average millionaire has faced both in business and personally and how they were addressed and whether they would consider those events setbacks or catapults to their success.
I would also be interested in an updated list of vehicles they drive since TMND is over 15 years old now.
Signed up. Excited to be a part of this.
Evangelical Christians teach to tithe 10% of income to local church. Is this a factor, negative or positive, in wealth building.
We’ve been a single income family (my wife) for 5 years. We are planning on homeschooling. It is quite likely that I will not return to the workplace until I’m 57, if ever. I’d like to know about self-made millionaires on just one salary. Any special tie-in to homeschool would be great.
A second, and related, idea: any info on the effect of education choice (government school vs private vs homeschool?
I agree with Max. I’d like to see how millionaires lived their lives before they became wealthy. And maybe even try to find up-and-coming millionaires who aren’t quite there yet but have the ambition and habits that will get them there.
How many military, active and retired, are millionaires? Officers or enlisted?
I signed up and appreciate the empirical research. Gives much more credence to the data than just opinion! The more your work is promoted, maybe the advertisers will have less impact on the wallets of the easily influenced.
Even the most frugal typically have a financial “vice,” something they spend their wealth on that may not necessarily support the long term health of their bank account . Call it a hobby. An interest. An outlet. A weakness. Whatever. Curious about non-wealth building expenditures (“leaks”) that are most common to millionaires. It’s a complex question, but one that I would find interesting from a psychological perspective.
I too am interested in the question of tithing, as indicated above.
I would like to see an analysis of where the MND lies on the introvert/extrovert continuum.