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215bc27
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Whatever your income, always live below your means.
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Thomas J. Stanley |
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Good health, longevity, happiness, a loving family, self-reliance, fine friends ... if you [have] five, you're a rich man....
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Thomas J. Stanley |
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I am not impressed with what people own. But I'm impressed with what they achieve. I'm proud to be a physician. Always strive to be the best in your field.... Don't chase money. If you are the best in your field, money will find you.
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Thomas J. Stanley |
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43f128b
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Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.
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Thomas J. Stanley |
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426030e
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Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods.
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Thomas J. Stanley |
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c8db339
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It's easier to accumulate wealth if you don't live in a high-status neighborhood.
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Thomas J. Stanley |
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8dfbf30
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One of the reasons that millionaires are economically successful is that they think differently.
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Thomas J. Stanley |
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6b313ab
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If you're not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your household's total annual realized income.
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Thomas J. Stanley |
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cc0a2df
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If your goal is to become financially secure, you'll likely attain it.... But if your motive is to make money to spend money on the good life,... you're never gonna make it.
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Thomas J. Stanley |
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5949e50
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The foundation stone of wealth accumulation is defense, and this defense should be anchored by budgeting and planning.
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Thomas J. Stanley |
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Money should never change one's values.... Making money is only a report card. It's a way to tell how you're doing.
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Thomas J. Stanley |
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f3dc319
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Great offense and poor defense translate into under accumulation of wealth.
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Thomas J. Stanley |
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5d9ba59
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Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.
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Thomas J. Stanley |
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bef627c
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Be tough ... life is. In other words, there is no promise of a rose garden.
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Thomas J. Stanley |
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it matters less how much more you make than what you do with what you already have.
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Thomas J. Stanley |
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2e4bbfb
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Have you ever noticed those people whom you see jogging day after day? They are the ones who seem not to need to jog. But that's why they are fit. Those who are wealthy work at staying financially fit. But those who are not financially fit do little to change their status.
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Thomas J. Stanley |
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f9a2026
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To build wealth, minimize your realized (taxable) income and maximize your unrealized income (wealth/capital appreciation without a cash flow).
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Thomas J. Stanley |
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cbb20e6
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How can well-educated, high-income people be so naive about money? Because being a well-educated, high-income earner does not automatically translate into financial independence. It takes planning and sacrificing.
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Thomas J. Stanley |
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ad8b806
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Most people will never become wealthy in one generation if they are married to people who are wasteful. A couple cannot accumulate wealth if one of its members is a hyperconsumer.
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Thomas J. Stanley |
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b2280cf
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His view of millionaires is shared by most people who are not wealthy. They think millionaires own expensive clothes, watches, and other status artifacts. We have found this is not the case.
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Thomas J. Stanley |
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5075525
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it is very difficult for a married couple to accumulate wealth if one is a spendthrift. A household divided in its financial orientation is unlikely to accumulate significant wealth.
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Thomas J. Stanley |
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78ab7b3
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The "some college," "four-year college graduate," and "no college" types who have high incomes often had a head start on many well-educated workers."
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Thomas J. Stanley |
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50592d3
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Financially independent people are happier than those in their same income/age cohort who are not financially secure.
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Thomas J. Stanley |
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e910262
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Allocating time and money in the pursuit of looking superior often has a predictable outcome: inferior economic achievement. What are three words that profile the affluent? FRUGAL FRUGAL FRUGAL
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Thomas J. Stanley |
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93d75c9
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Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.
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Thomas J. Stanley |
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65286e4
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If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.
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Thomas J. Stanley |
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bf2e3df
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Victor wants his children to become physicians, lawyers, accountants, executives, and so on. But in so encouraging them, Victor essentially discourages his children from becoming entrepreneurs. He unknowingly encourages them to postpone their entry into the labor market. And, of course, he encourages them to reject his lifestyle of thrift and a self-imposed environment of scarcity.
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Thomas J. Stanley |
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4f73ada
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our youth are told that buying expensive items is normal behavior for affluent people. They are led to believe that the wealthy have a high-consumption lifestyle. They learn that hyperspending is the main reward for becoming affluent in America. Why
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Thomas J. Stanley |
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914085e
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According to our most recent survey, the typical American millionaire reported that he (she) never spent more than $399 for a suit of clothing for himself or for anyone else.
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Thomas J. Stanley |
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aa1cbe7
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It's amazing what you can do when you set your mind to it. You'll be surprised how many sales calls you can make when you have no alternative except to succeed.
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Thomas J. Stanley |
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cafb596
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What if he had taken full advantage of the tax-advantaged benefit from the time he was first employed? Today he would be a millionaire. Instead, he is on the perpetual earn-and-consume treadmill.
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Thomas J. Stanley |
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48e4280
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Operate your household like a productive business.
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Thomas J. Stanley |
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907fb07
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Most millionaires measure their success by their net worth, not by their realized income. For the purposes of wealth building, income doesn't matter that much. Once you're in a high-income bracket, say $100,000 or $200,000 or more, it matters less how much more you make than what you do with what you already have.
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Thomas J. Stanley |
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3347e63
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For every millionaire who owns a $1,000 suit, there are at least six owners who have annual incomes in the $50,000 to $200,000 range but who are not millionaires.
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Thomas J. Stanley |
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8416df3
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Your test scores are inferior, therefore you're inferior," and the result is yet one more economic dropout. Instead, tell a youngster there are many ways to win. Tell him that creativity and even common sense, social skills, and integrity count in the economic arena. If we convey that message, we will have many more people becoming productive citizens."
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Thomas J. Stanley |
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e9c9ee2
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There is an inverse relationship between the time spent purchasing luxury items such as cars and clothes and the time spent planning one's financial future.
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Thomas J. Stanley |
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b4dfba3
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if you're not financially independent, you will spend an increasing amount of your time and energy worrying about your socioeconomic future.
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Thomas J. Stanley |
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1762a7e
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All too often high-income-producing UAWs spend countless hours studying the market--but not the stock market. They can tell you the names of the top auto dealers, but not the top investment advisors. They can tell you how to shop and spend. But they can't tell you how to invest. They know the styles, prices, and availability at various car dealers. But they know little or nothing about the various values of equity market offerings. As
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Thomas J. Stanley |
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1b71118
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Mrs. Rule wants to be free of financial worry before her sixty-fifth birthday. Each time she tabulates, she tells herself she is reducing her fear of never being able to retire in comfort.
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Thomas J. Stanley |
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b07847d
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most millionaires generally don't limit themselves to stocks, bonds, and related investments--they invest heavily in private businesses and real estate.
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Thomas J. Stanley |
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eabeeb2
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UAWs tend to live above their means; they emphasize consumption. And they tend to de-emphasize many of the key factors that underlie wealth building. YOU
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Thomas J. Stanley |
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d929d8f
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The foundation stones of financial success are: Integrity--being honest with all people Discipline--applying self control Social skills--getting along with people A supportive spouse Hard work--more than most people
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Thomas J. Stanley |
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5321ad0
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Twenty years ago we began studying how people become wealthy. Initially, we did it just as you might imagine, by surveying people in so-called upscale neighborhoods across the country. In time, we discovered something odd. Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoo..
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Thomas J. Stanley |
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8073868
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About one-half of the millionaires in America don't live in upscale neighborhoods.
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Thomas J. Stanley |