Wed 2 Mar 2005
The Millionaire Mind
Posted by Liza under Books
Thomas Stanley studies millionaires.
In this book, he looks at the attitudes and factors that millionaires credit for their success. FACINATING.
For lawyers and doctors, a lot of it was about being incredibly smart and driven, but for nearly everyone else, it was about being honest, organized, taking risks, being married to a supportive spouse, and living relatively below your means. (He doesn’t say so, but there is an implication that his sample didn’t have any gay or lesbian couples.)
But it wasn’t like a formula — it really was in the point of view and way of looking at and experiencing the world.
Stanley also believes that the rest of us can learn to think like millionaires, and "decamillionaires," to our long-term financial advantage. Some recommendations were easy–don’t go buy insanely expensive houses that you won’t be able to afford if your income drops off. But the chapter on marrying the right person was a lot more unpredictable. Something like 80% of the people he interviewed were married and credited their spouse for thier success. Another 10% were separated or divorced, and 4% were widows or widowers. Another non-intuitive observation was that most of the decamillionaires were daily or near-daily exercisers, and they thought that was important to their success.
Interesting food for thought.



