Recently, Dave Ramsey magnanimously invited me to be a guest on his show. During the interview, Dave asked me about the changes I had noticed among Americans since the recent economic meltdown. One of the changes I mentioned was the precipitous decline in the number of people who advised me that “$1 million (in net worth) – […]
$1 Million: Something or Nothing? (Part I) Read More »
Why do I write about rich people? It’s not for the benefit of rich people. What I write is designed to benefit those who are confused and misinformed about what it means to be rich. Most Americans have no idea about the true interworkings of a wealthy household. The advertising industry and Hollywood have done
“Life Changing Experience” Read More »
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.
The Low Profile Millionaire Next Door Read More »
In what types of careers do we find the balance sheet affluent, the millionaires next door? Many take an unconventional approach. Below is one of my favorite stories about careers, adapted from Millionaire Women Next Door. Marion was trained to be sensitive to opposing viewpoints and countertrends. Being different in thought and deed was something to be proud
A Career In The Dirt Read More »
One of the most pleasant benefits from writing books is hearing personally from my readers. I would like to share a letter that I recently received which is ideally suited for Veterans Day reflection. “Dear Dr. Stanley,I recently…began to read The Millionaire Mind…. I try to read a little each night. It was about 11:00
Veterans Remembered. . . Read More »
My friends in the trust and estate business refer to it as OPM, that is, Other People’s Money. How well do people spend other people’s money? The pat answer is “not as well as if they earned it themselves.” Thus, many of my friends believe that it is not a good idea for wealthy parents to
“Other People’s Money” for Clunkers Read More »
After giving a presentation to a group of sales and marketing executives, I was approached by a sales manager from the audience. Malcolm told me that, wanting to be a veterinarian, he had started his college career as a zoology major. He didn’t do very well in some of the courses, so he changed his
Courage: Required and Admired Read More »
During these uncertain times, it pays to be vigilant in recognizing economic opportunities. Over the years, more than a few millionaires have told me that during one’s lifetime, major economic opportunities will confront most of us. Unfortunately, the majority of people don’t capitalize upon them. Some just don’t recognize “gold” when they stumble across it; others
Taking Risks: A Recipe for Success Read More »
As long as we are headed towards a controlled economy, I would like to add my two cents worth and perhaps a bit of comic relief. We can encourage people to become more fiscally responsible! I suggest that we begin by altering the spending habits of the hyperconsuming/income statement affluent (IA) population. I mentioned on Twitter that
Cars and Homes as Costumes Read More »
One of my earlier blogs, The Downside to Understating Your Wealth, apparently hit a chord with many of you. Mrs. Davis, a teacher, told me that her memory was jogged after reading about the Honda driving doctor who couldn’t get into the hospital’s parking lot. Here is her contrasting story on the upside of understating your wealth.
Costumes: Not Just for Halloween Read More »