Sadly, Dr. Thomas J. Stanley author of "The Millionaire Next Door, The Millionaire Mind, and several other books related to Marketing ot he Affluent and the study of the Millionaire houselholds, passed away Saturday Februay 28, 2015.
Dr. Stanley died in an auto accident near his home of Marietta, GA. He was 71. Here is a link to the story - http://antiguaobserver.com/millionaire-next-door-author-dies-in-car-crash-near-atlanta/
I first became familiar with his books about 1992 when he was still a professor of Marketing at Georgia State. He had written three books about Marketing and selling to the Affluent. I re-read those books often to help me market my businesses.
He then turend his attention to studying the Affluent themesleves and wrote the best seller "The Millioniare Mind", with several follow up books. He was working on updated book with his daughter at the time of his death.
I highly reccomend reading all of his books as they are based on surveys and interviews of millionaires, and his first three are interviews of people who market to the affluent. All very insightful books.
Dr Stanley's books were an eye-opener for me. Sad to hear of his passing.
I have read some of Dr Stanley's books. They are very good reads.
I am just starting a book called "Fooled by Randomness" which apparently talks about Dr Stanley's books. I am anxious to see how this author views Thomas Stanley's work.
@Ned Carey I'll be interested to hear what he says. There has been some different opinions, but overall, I like Stanley's work and methods. His writing is easy to read for a Phd author.
Sad to hear. I read those books and they impacted me.
thanks for sharing @Jerry K.
May he rest in peace!
I heard of his death today on the Dave Ramsey radio show. I then sent this to the LA Times:
"The Los Angeles Times has sunk to a new low, publishing a hit piece on Dr. Thomas J. Stanley, author of the best-selling book The Millionaire Next Door, shortly after his death. Worse yet, you are dead wrong. There are numerous of us in the greatest country ever who are millionaires next door. I’m one, and I know many others. All over the country, we are there. None of us are royalty or born to a special caste. Most all of us are self-made millionaires, not inheritors. Most all of us make money doing real things, not speculating on stocks and such. Never before in history have so many common people had such great opportunity.
I was born poor, with a rusty spoon in my mouth, not a silver one, and my father died when I was 12. My wife grew up and began working in a country occupied by the USSR. Yet, we are self-made millionaires next door, with a net worth in the top one percent.
Like many, we own a small business. I started my consulting company with nothing but a commitment to quality and service, and initially had to struggle to balance eating with paying for things such a phone line for a FAX machine. Building my first computer meant no longer having to go to rent time on computers. Getting that first printer, and then that first copier, meant we could do all of our office work in our own offices. We had no clients to start, so we went out and found people who needed help and built a business.
I was stupid with money when I was younger, yet am now as great a proponent as I can be of avoiding debt. My wife and I are debt free, owning our home and 15 income properties in seven states. Neither of us are show offs, but we’re not cheap. I drive an average of 2,000 business miles per month, so did not hesitate to buy a new loaded Jeep Grand Cherokee last year. However, even that was a thrifty purchase, as an equivalent Mercedes-Benz M-Class, designed at the same time and made with many of the same parts, costs 50% more than the Jeep. I have a hobby collecting and restoring radios, especially those from the 1930s, but avoid the expensive "collector" models. We travel to Europe every year, but coach. I almost always wear blue jeans to work, and often also wear a tool belt. Our other car is a Mercedes-Benz, but it is a 12 year old C230K hatchback which only cost $25,500. We do enjoy eating out, but as another former professor once asked at a meeting for real estate investors, what do you have the next day after an expensive meal? We mow our own yard, and I change the oil in my Jeep.
Being wealthy and debt free also means being able to give. We have a list of charities and non-profit organizations to which we donate. One of our nieces who’s father died at age 38 recently graduated from a top business college, so we were happy to be able to surprise her with a trip to California. You can’t enjoy doing such thing when you’re poor.
Despite the 100 year long effort by leftists to destroy the United States, this is still the land of opportunity, so it is also the land where millionaires next door are numerous. Get rid of the ball and chain of far too much government, and there will be dramatically more millionairess next door."
Oh, Man - that's too bad!!! "The Millionaire Next Door" really got me thinking at one point. Dr. Stanley's contributions to the sport of money are very real and will undoubtedly withstand the test of time!
What a great man...so sorry to hear of his passing. I literally just finished reading 'The Millionaire Mind' a few days ago. A brilliant concept for a book from a brilliant man. Thanks for bringing this to our attention Jerry.
Very sad to hear this. I just got done reading The Millionaire Mind for the second time. He truly was a great author.
Brilliant author. I've read these books about ten times. It really changed my thought process about wealth. Sad news
The Millionaire Mind is a great book, I am sorry to hear of the authors passing.
Great words @Stephen Masek , I have finished this book about a year ago and plan on going over it again, may he rest in peace.
Good news - I read today that his daughter has said she will continue working on the fully updated book she and her father had started.
The Millionaire Next Door... a Fantastic book. I grew up with an immigrant mother who basically lived by that book. I read it first when I was in my teens and plan on picking it up again soon...
Dr. Stanley influenced a lot of individuals with his ideas, both directly and indirectly. I have found the simplicity and power of the findings of his research to be personally very empowering. Thank you for your contributions, Dr.Stanley. RIP.
I was on a call with his daughter a few weeks ago and heard that the revised book is coming along nicely. With all of the positive things happening in the White House, it will be good timing.
I have seen Dr. Stanley's book, The Millionaire Next Door, on the book shelves in bookstores and haven't picked it up. After reading these posts I'm inspired to grap a copy of all his published work. @Stephen Masek , thank you for sharing your story! It inspired me!
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