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About Thomas J. Stanley
He began studying the affluent in 1973. Dr. Stanley's first book, Marketing to the Affluent, was selected as a top ten outstanding business book in America by the editors of Best of Business Quarterly. Dr. Stanley wrote The Millionaire Next Door in 1996. Over 4,000,000 copies of this New York Times bestseller have been sold. In 2000, he published The Millionaire Mind, which explored America's financial elite and how they became so. The Millionaire Mind debuted at #2 on the New York Times bestseller list. His other works included Selling to the Affluent, Networking with the Affluent, Millionaire Women Next Door, and Stop Acting Rich.
The author lived in Atlanta, held a doctorate of business administration from the University of Georgia in Athens and was formerly a professor of marketing at Georgia State University. Visit Dr. Stanley's website at www.thomasjstanley.com for more information on his life and work.
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Author Updates
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Blog postDear Faithful Readers and Fans,
Thank you for continuing to read and respond to the blogs and publications associated with my father’s work. For the last four years you’ve allowed me the honor to continue writing for and posting on his blog, and I have been thankful for the opportunity to share my thoughts and interpretations with you.
Today marks the beginning of a new phase for my writing in this field as well as the study of wealth. New research, writings, and other musings2 years ago Read more -
Blog postIf you thought that becoming a millionaire next door today was impossible, I hope you can learn a bit more about the behaviors it takes to achieve financial success before deciding so. Here are a few more reviews and insights into The Next Millionaire Next Door.
MarketWatch’s Review of The Next Millionaire Next Door
The Makeup of a Physician Millionaire & How to Become One – Financial Residency Podcast
Becoming The Next Millionaire Next Door – Stacking Benjam2 years ago Read more -
Blog postBlack Friday, from both a marketing and psychological perspective, was of great interest to my father, so much so that we included a question about it on the last survey we conducted on wealthy Americans for The Next Millionaire Next Door. Below is a roundup of some of the writings he and later I published to share thoughts on this quasi-holiday in the United States:
Feeling left out of Black Friday? Consider the time spent on this activity versus other (perhaps more productive) activ2 years ago Read more -
Blog postBy becoming engrossed in ongoing competitions, you’re necessarily taking time and emotional energy from something else: your business or education or some other productive activity.
The Next Millionaire Next Door One of the keys to economic success is focusing your cognitive and emotional energy towards valuable activities: managing and caring for your household finances, improving your business or career, or learning a new skill. As an example, prodigious accumulators of wealth (PAWs2 years ago Read more -
Blog postThe buzz is building around The Next Millionaire Next Door. Thank you to everyone who has responded with orders, reviews, and words of encouragement. And, many thanks to those of you who are requesting copies at your local independent bookstores and libraries.
Below are a few links to reviews and press:
The Dave Ramsey Show: Listen to Dave Ramsey and Sarah Fallaw discuss the book here.
ESI Money and the FI/RE community: See the review of the book on ESI Money.
2 years ago Read more -
Blog postMore than anything else, our research findings related to becoming economically successful on our own have more to do with behaviors related to saving, spending, investing, and planning than characteristics that we cannot control, or have little choice over, like how we were raised. We’ve even seen, through the research we’ve conducted at DataPoints, that behaviors related to being frugal, monitoring finances, being focused, and ignoring social pressures about lifestyle, add incrementally to2 years ago Read more
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Blog postOn October 1, the book my father and I began writing several years ago will, at long last, make its appearance on bookshelves. The title is The Next Millionaire Next Door, and it focuses on what it will take for this (or any) generation to achieve lasting financial success. Our research revealed (and thus our writing focused on) themes related to awareness of how individuals behave in relation to money; how economically successful individuals allocate time, money, and ener3 years ago Read more
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Blog postOne of my students gave a presentation on how to use goal-setting theory to reach financial freedom and at the end he said, “but you’ll never save money if you don’t MIND YOUR OWN BUSINESS,” and this really stuck with me.
In the Twitterverse yesterday, one of my fellow industrial-organizational psychology friends retweeted this quote from another. Perhaps the quoted student has a future in the field of financial planning! It was a perfect reminder for this time of the3 years ago Read more -
Blog postIn finishing the follow up to The Millionaire Next Door, and specifically in working on the chapter discussing work and careers, there is consistency in the finding that most economically successful individuals must take some sort of risk in their careers. The question is: when an opportunity (risk) is presented, who can take advantage of it?
Many of the readers and millionaires next door that have been included in our research consistently refer to two significant stages of life4 years ago Read more -
Blog postWaiting tables, mowing lawns, babysitting, retail sales, camp staff, stockroom: how many of these summer jobs did you have in high school and college? What about the teens you know – are they working this summer? When I saw the headline that retail jobs that once filled the time of teenagers looking to make money during the summer are slowly dying, I wanted to take a look at the pros and cons of summer employment. There are fewer and fewer teens working during the summers. Part of the reason4 years ago Read more
Most of the truly wealthy in the United States don’t live in Beverly Hills or on Park Avenue. They live next door.
America’s wealthy seldom get that way through an inheritance or an advanced degree. They bargain-shop for used cars, raise children who don’t realize how rich their families are, and reject a lifestyle of flashy exhibitionism and competitive spending. In fact, the glamorous people many of us think of as “rich” are actually a tiny minority of America’s truly wealthy citizens—and behave quite differently than the majority.
At the time of its first publication, The Millionaire Next Door was a groundbreaking examination of America’s rich—exposing for the first time the seven common qualities that appear over and over among this exclusive demographic. This edition includes a new foreword by Dr. Thomas J. Stanley—updating the original content in the context of the financial crash and the twenty-first century.
“Their surprising results reveal fundamental qualities of this group that are diametrically opposed to today’s earn-and-consume culture.” —Library Journal
The author of the blockbuster bestseller The Millionaire Next Door: The Surprising Secrets of America’s Wealthy shows how self-made millionaires have surmounted shortcomings such as average intelligence by carefully choosing their careers, taking calculated risks, and living balanced lifestyles while maintaining their integrity. Dr. Thomas J. Stanley also builds on his research from The Millionaire Next Door and takes us further into the psyche of the American millionaire.
Stanley focuses in on the top one percent of households in America and tells us the motor behind the engine; what makes them tick. His findings on how these families reached such financial success are based on in-depth surveys and interviews with more than thirteen hundred millionaires.
“A very good book that deserves to be well read.” —The Wall Street Journal
“Worth every cent . . . It’s an inspiration for anyone who has ever been told that he wasn’t smart enough or good enough.” —Associated Press
“A high IQ isn’t necessarily an indicator of financial success . . . Stanley tells us that the typical millionaire had an average GPA and frugal spending habits—but good interpersonal skills.” —Entertainment Weekly
“Ideas bigger than the next buck.” —Orlando Sentinel
Millionaire Women Next Door presents a variety of groundbreaking concepts involving the personality, lifestyle, motives, beliefs, and spending habits of economically successful American businesswomen. Most of these women report being raised in nurturing family environments. They were trained not only to succeed financially but also to be generous in giving to noble causes. Stanley asks, “How did these businesswomen become millionaires? They did it by doing more of the key activities and achieving better results than most of their male counterparts.”
Praise for Thomas J. Stanley’s The Millionaire Mind
“A very good book that deserves to be well read.” —The Wall Street Journal
“Worth every cent . . . It’s an inspiration for anyone who has ever been told that he wasn’t smart enough or good enough.” —Associated Press
“A high IQ isn’t necessarily an indicator of financial success . . . Stanley tells us that the typical millionaire had an average GPA and frugal spending habits—but good interpersonal skills.” —Entertainment Weekly
“Ideas bigger than the next buck.” —Orlando Sentinel
With well over two million of his books sold, and huge praise from many media outlets, Dr. Thomas J. Stanley is a recognized and highly respected authority on how the wealthy act and think. Now, in Stop Acting Rich ? and Start Living Like a Millionaire, he details how the less affluent have fallen into the elite luxury brand trap that keeps them from acquiring wealth and details how to get out of it by emulating the working rich as opposed to the super elite.
- Puts wealth in perspective and shows you how to live rich without spending more
- Details why we spend lavishly and how to stop this destructive cycle
- Discusses how being "rich" means more than just big houses and luxury cars
A defensive strategy for tough times, Stop Acting Rich shows readers how to live a rich, happy life through accumulating more wealth and using it to achieve the type of financial freedom that will create true happiness and fulfillment.
No one knows the rich like the author and business theorist Thomas Stanley. In this book, Stanley explains what it takes to reach, persuade, and market to this highly targeted audience. Stanley discusses the unique perspectives of wealthy individuals, revealing the needs and desires any marketing campaign needs to address in order to be successful with them. Stanley then outlines several highly effective ways to meet those needs, including how to attract wealthy customers through word-of-mouth recommendations from their friends, family, and business associates.
Marketing to the Affluent covers:
- Myths and realities about the affluent
- Understanding what the affluent want
- Finding “overlooked” millionaires
- Positioning yourself as an expert
“No one better illuminates the who, where, and how of the affluent market than Tom Stanley.”—J. Arthur Urciuoli, Director of Marketing, Merrill Lynch
In Networking with the Affluent, business theorist Thomas J. Stanley shares effective tactics for developing relationships with wealthy individuals—as well as their advisors—and generating new business among this highly exclusive target market. Dr. Stanley provides a proven road map for building trust, securing interest, and forging profitable relationships with wealthy audiences—including tactics for boosting your credibility and assuring continued loyalty among wealthy customers.
Networking with the Affluent covers:
- Cracking affluent groups
- Influencing opinion leaders of the affluent
- Gaining high-caliber endorsements
- Leveraging your contacts
“No one better illuminates the who, where, and how of the affluent market than Tom Stanley.”—J. Arthur Urciuoli, Director of Marketing, Merrill Lynch