Posted on 03/01/2015 5:14:12 PM PST by Cecily
The author of a blockbuster book series on the habits of millionaires was killed in a car crash Saturday afternoon near his home in Marietta, according to his family and Cobb County police.
Thomas J. Stanley, who was 71, used research to smash the stereotype that being wealthy meant looking wealthy. On the contrary, his works said: Self-made millionaires — the real deal, not the wannabes — are much more likely to be frugal and spurn spending for show.
As for the people showing off the bling? “It’s the neurotic middle-class,” he said in a 1991 interview with the Atlanta Journal-Constitution. Or the millionaires’ children.
(Excerpt) Read more at ajc.com ...
That's funny, all we have at my house is the sign!
If I were a billionaire I would probably spend a few hundred thousand on things I always wanted and get a nice house on at least 160 acres in the mountains of Georgia or N.C. etc.
Next I would hire a good CPA to manage my money with instructions to make no risky investments.
Give each of my Grandchildren whatever it took to make them comfortable with something like a spendthrift trust, not that I really wouldn’t trust them, just would hate to see them blow it immediately.
I would get a high end Mercedes and a bunch of quality guns. Also a mint 1965 Plymouth Fury with a 426 Hemi.
like where I am but I would get a security system (Minus the idiotic signs announcing it)...
That’s funny, all we have at my house is the sign!
I have the security system sign and the system, plus NRA signs and weapons if needed (on all floors). Interesting enough, where we are in about as safe as an area (a secret) as I can imagine. As an extra our sheriff advocates concealed carry.
We also have a 90# Boxer that gets foaming-at-the-mouth livid the moment when a stranger gets right up to the door.
He was right, at least in regards to some. I’ve done quite a few little jobs for several families in the past, personally (security, driving family members, lifting this, moving that, listening, tutoring, suggesting options,...)—sometimes difficult, sometimes rewarding in terms of experience. Most were not flashy.
“...foaming-at-the-mouth livid...”
How coincidental! My #90 Golden Retriever and #40 English Springer Spaniel do exactly the same thing. Must be the doorbell chimes.
We have one of those dark mirrored pane storm doors. Our little boy likes to stand right behind it for just the right moment before they try to ring the bell.
One substitute mail carrier almost fell off of the porch (only one step down) when he did that.
I hope, if a policeman ever needs to come to the door, that I get a chance to intervene.
I have owned that book for years. I had very respected, conservative Christian older relatives who lived just like the people he described. In fact, they wound up embarrassed at just how much the mutual fund investments he’d made for years (to minimize government monies) had enriched them.
They were so genuinely wonderful and everyone loved them.
I greatly miss them and their godly example.
We have a lab/aussie mix like that...I let her go to the side windows by the door first...gives people a scare...she has a mean and snarly bark...
Amazing what you can do when you save...isn’t it?
Self-made millionaires — the real deal, not the wannabes — are much more likely to be frugal
I have seen this first hand with old school Yankees / Boston Brahmins. While not having earned their money first hand their ancestors certainly did and these people were frugal.
When I was in my twenties one of them taught me to extend the life of a button down shirt once the collar wore out.
Have a tailor remove the collar, flip it over and sew it back on. The worn section of the collar is now in the inside. The gent who taught me this was worth a fortune, old family money, yet was frugal and a real gentleman.
He was always kind to me.
On the other hand I would often see the ‘ new money ‘ wearing flashy clothing, watches and driving expensive cars. I think the most expensive car I ever saw one of these Brahmins drive was a Volvo. Heck, one of them who’s family is worth billions and is still active in fianace used to show up in an old Volvo, worn comfortable jeans and an old Polo shirt. Clean - but worn. Also a very down to earth kind person.
Old Brahmin saying:
“Use it up, wear it out, make do, do without.”
Or,
“Cape Cod girls, they have no combs, they comb their hair with codfish bones.”
“Cape Cod doctors, they have no pills, they give their patients codfish gills.”
“Cape Cod children, they have no sleds, they slide down hills on codfish heads.”
Maybe you should re-read the book.
The message I got from it is not that "to make money, you need money". The message I got was that it is possible to save enough to become wealthy through investment.
Clearly, somewhere along the way the savings and investments you have are going to become substantial, but this is a far cry from needing money to make money.
The concept of "splurging on something expensive as a reward for hard work" isn't in there either. The idea is to save first, then lower expenditures to fall within what is left.
The reward for this is security in retirement, possibly retiring early, and never having to worry about money.
Somewhere along the line one of my brothers many years of hard work paid off and he became a single or lower double digit millionaire, nice and comfortable. Didn’t change a thing, except to buy a nice Benz sedan, not even that flashy. He’s have sooner died than wear bling.
“Maybe you should re-read the book. “
Don;t be an arrogant prick and educate me boy. Everyone here has a different interpretation of every book, movie and medium. Now get off your high horse and kiss my ass while you’re at it.
I see why you came away from the book with the ideas you present so clearly.
I was born in Marietta, Ga...and haved lived in the same area most of my life. Most native wealthy folks I know live below their means. One of the most wealthy men I have known, who had original issue coca cola stock and liquid assets of ten million plus, lived in the old mill house he grew up in near grant park in Atlanta, spent his days driving around an old wrecker buying junk cars, paying someone to get them running then selling the car to someone in need cheaper than market value.
Wealthy natives consider it tacky to flash your wealth. Most are country folks...humble and down to earth. I have seen several dress down an uppity wealthy transplant during a rude encounter....”Boy....that truck im driving costs double what your lexus does...and have the money to cover my ass if you piss me off enough to drive right over it if you dont move it.”
Plus...wearing wealth on your sleeve attracts the wrong kind of attention from thieves....from both the public and private sector. Car jackers and robbers know the natives are armed.
We have a son-in-law - - ‘around the corner’ from us, who is a fee only certified financial planner.
I occasionally daydream of winning a fortune (if I even played the lotto) and having son-in-law manage all the dough.
I’ve told him already our childrens’ schools and top charities to give to first - for real!
If I won loads of money, the son-in-law would probably not be able to handle but a few others.
(1) Chauffeured cars are generally big. The Chauffeur sits behind the wheel. The Chaufferee rides in the back, securely belted and surrounded by the roll cage.
IIRC, This book guy was making a left, when the Acura MDX (ostentatious yuppie-mobile) tried to go around him in the incoming traffic lane. T-boned the driver's side of the Corvette (ostentatious wannabe-player-mobile). Obviously, your point that wealth does not make one anus-proof is a valid one..
However, I maintain a quiet man of true wealth would have survived this, and then had his gamekeeper and gardener track the Acura MDX yuppie down and eviscerate him in a tasteful and quiet manner.
| Okay, that is funny right there!
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