Personal Finance

Author of Millionaire Next Door Dies

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  • Mar 11th, 2015 10:41 am
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Deal Addict
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May 25, 2008
1615 posts
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Toronto

Author of Millionaire Next Door Dies

Thomas J. Stanley, the author of Millionaire Next Door Dies:

http://www.reuters.com/article/2015/03/ ... 4020150302

Millionaire Next Door is one of my favourite books. It taught me to be financially responsible and not use wealth as a measure of social status. RIP Thomas Stanley!
9 replies
Deal Addict
Jan 15, 2009
1081 posts
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Just north.
RIP. I read his "Millionaire Next Door" book about a year ago, it helped to refocus on what I should do with my money, which is not blow the wad on some frivolous purchases, and that to become a millionaire it is all about being smart with money and not lead a flashy life.
Deal Fanatic
May 31, 2007
5018 posts
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Probably one of my top 5 or top 3 books when learning about personal finance. Very good book and illustrates how your salary alone does not make you wealthy. His studies show that people with high salaries and status were not that wealthy at all!
Deal Guru
Feb 9, 2009
12381 posts
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Stanley died in a car accident driving a Corvette - so all the books people bought went to his lavish lifestyle... a fraud! (good stuff in the book, but the author never preached what he sowed)...
Sr. Member
Oct 14, 2012
954 posts
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Woodstock
@Sanyo I disagree unless you're saying he died in debt. Just having a Corvette doesn't make his ideas invalid. Once you've saved up a million or two, why shouldn't you buy a Corvette if you want? He didn't necessarily buy it as a symbol of anything. He may have bought it because he loved the way it drives and looks. Was there more to your comment than just the car?
Deal Addict
Apr 19, 2014
1042 posts
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RIP. The book was very pivotal for me in changing the way I view consumption/keeping up with the Jones's. Highly recommended
Deal Addict
Apr 19, 2014
1042 posts
991 upvotes
Sanyo wrote: Stanley died in a car accident driving a Corvette - so all the books people bought went to his lavish lifestyle... a fraud! (good stuff in the book, but the author never preached what he sowed)...
Why would the book's validity hinge on the author's actions? It was research based. A researcher who discovers a link between alcohol and cancer doesn't invalidate the findings of his research just because we find out he's a heavy drinker.

Also, the book never said "you're not allowed any fun or luxury"
Deal Expert
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Nov 19, 2005
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RedFlagDeals!
RIP. One of the best books that got me started on my finance journey.
Money, Religion, Sex and Politics is what it is all about!
99% Tryhard I've got hardwood flooring downstairs...if you know what I am talking about
Member
Sep 9, 2012
372 posts
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TORONTO
Sanyo wrote: Stanley died in a car accident driving a Corvette - so all the books people bought went to his lavish lifestyle... a fraud! (good stuff in the book, but the author never preached what he sowed)...
Your comment was bad (for the reasons given above), and you should feel bad for trying to bring him down a peg at the time of his death for nonsensical reasons.
Deal Expert
Feb 29, 2008
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Montreal
flexgrip wrote:
The ultra rich look down on Corvettes even though it provides a much better bang for your buck.
If had a 'Vette, the ultra rich would be looking at my tail pipes and nothing else.

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