Thomas J. Stanley, Author at The Millionaire Next Door

Millionaires: Firefighter, School Bus Driver, Engineer. . .

3 Comments / Studying the Wealthy / Thomas J. Stanley

Not all of the interesting information in the Forbes 400 issue deals with billionaires. For example, in Matthew Schifrin’s article, he profiles several amatuer investors who became millionaires by significantly outperforming the market. One of these investors, not surprisingly, is a civil engineer and is pictured standing next to his no frills Ford 150 pickup truck. Remember that Ford was the #1 make and […]

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A Cultivator of Wealth

1 Comment / Studying the Wealthy / Thomas J. Stanley

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

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The Millionaire Next Door: Industrial Strength Character

5 Comments / Current Events / Thomas J. Stanley

Two thoughts crossed my mind when I first learned that drillers had succeeded in completing an escape tunnel for the 33 men who were trapped in a Chilean mine. First, I felt joy for the men and their families. And then I thought about the equipment that was used in the process. According to CNN

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Ideal Gift for the Millionaire Next Door

1 Comment / Studying the Wealthy / Thomas J. Stanley

It’s not too early to make holiday gift giving plans. Is there a millionaire next door on your list? If so, I have a hint for you. I was reminded of this yesterday when I stopped by my neighborhood McDonald’s for a McCafe coffee. There were banners hanging all over announcing Monopoly is Back along with

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Joe the CPA: More than a Numbers Man

Leave a Comment / Mentor's Corner / Thomas J. Stanley

In my last blog, I profiled Joe the extraordinary CPA who had over 800 clients [from Networking with the Affluent].* To understand his success one needs to examine the eight roles that Joe played in addition to being a conventional accountant for his clients. Note that he never charged a fee for these services. 1. The Purchasing Agent. As

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A Doctor in Need

3 Comments / Mentor's Corner / Thomas J. Stanley

I recently received an e-mail from a physician of the Income Statement Affluent variety (high income/low net worth). In it he laments about the difficulty in transforming himself into a Balance Sheet Affluent millionaire. I have all the basics to live frugally; I just have not done so because I have been caught up with

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Billions of Bucks; Two Pairs of Shoes

6 Comments / Current Events / Thomas J. Stanley

In a national survey of 733 millionaires representing the top 1% wealth holders in America, I found that 70% regularly have their shoes resoled/repaired (see The Millionaire Mind, p. 297). Millionaires are generally frugal, but they are not frugal when it comes to purchasing quality shoes. Why do most wealthy people pay several hundred dollars for

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Integrity is #1

1 Comment / Current Events / Thomas J. Stanley

What has prodded me to give a sermon about integrity? A recent article in USA Today detailed some of the activities of welfare cheats Judy Keen, USA Today, 9/16/10, p. 3-a. Many of these cheaters have spent a lot of their time and energy concocting lies and fabrications which have enabled them to receive substantial amounts

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There Ought to be a Law!

8 Comments / Current Events / Thomas J. Stanley

Football season is in full swing! I agree with those who say it is the best sport in the world. I enjoy watching professional football, but there is a problem. More and more the press is focusing less on the actual play of the game and more on ancillary issues. For example, I am really not

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The Case of Fay Naivete

5 Comments / Mentor's Corner / Thomas J. Stanley

People are often vulnerable to “get rich quick” solicitations when they see their economic future dimming or when they have had a financial reversal. In this context consider a letter I received from a woman I refer to as “Fay Naivete.” My husband and I were extreme income statement affluent types. He came from money; I

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Thomas J. Stanley