"Millionaire Next Door" Author Thomas Stanley Killed

[Midpack]

Sad news. The Millionaire Next Door is/was one of five books that most influenced the course of my life.

[jollystomper]

RIP Mr. Stanley. His book helped spur me towards getting more serious about saving, investing, and frugality for FI.

[truenorth418]

His book changed my life. Thank you Thomas Stanley. Rest in peace.


Sent from my iPhone using Early Retirement Forum

[Midpack]

Quote:

Originally Posted by papadad111 Inspired me to shoot for early retirement Coined many useful phrases like "big hat no cattle". and accumulators of wealth and perpetual under accumulators of wealth Too bad indeed

Native Texans will tell you the phrase can be traced back to the 1940's, and it's been used in the media hundreds of times before Stanley. And it originated from similar sayings from other countries that go back many generations. e.g. 'all mouth and no trousers', 'fur coat and no knickers', and many others...

[RonBoyd]

Quote:

Originally Posted by Midpack Native Texans will tell you the phrase can be traced back to the 1940's, and it's been used in the media hundreds of times before Stanley.

Doesn't matter. His book was the first time I had heard it... and I have used it several times since then.

[sheehs1]

Very sad. I gave his book to my children to read (after I had read it years ago).

[ERD50]

Quote:

Originally Posted by RonBoyd Doesn't matter. His book was the first time I had heard it... and I have used it several times since then.

Minor point, but it does matter. The poster claimed that Mr. Stanley coined the phrase, meaning he originated it. I agree with Midpack, seems the phrase has been around much longer, and we ought to use our words correctly. Pretty sure Mr. Stanley did not coin the phrase (and I assume he never claimed he did, I don't know, never read his books, but got the gist of them from this forum), so we should not claim that he did.

-ERD50

[RonBoyd]

Quote:

Originally Posted by ERD50 Minor point, but it does matter.

Of course. You are correct. I concede the point.

[nvestysly]

Thanks for the link to the article about the authors death. DW and I have read a few of his books and they definitely helped form our path to FIRE.

We've given some of the books as gifts and hope they've made a difference for other people too.

[SJ1_]

Quote:

Originally Posted by FlyBoy5 I didn't see that this was posted as of yet, but Mr. Stanley was killed Saturday in an auto accident. His book series was one of the motivators for me to retire early...VERY early. To add insult to injury, he lived less than 15 minutes from me. I had no idea he was a "Georgia Boy". My thoughts go out to his family. East Cobb "Millionaire" Author Dies in Crash - East Cobber

Sad to hear... Great Book

[kcowan]

It is ironic to me that driving a Corvette was what probably did him in. And close to home too.

It seems that he was acting out "the guy next door" when the accident happened...

(Although definitely "within his means"!)

[mickeyd]

Sad News indeed.

MND was one of the first investment books that I ever read and discovered that there were others like me who could save and invest over time and end up with a nice $tash.

[ExFlyBoy5]

Quote:

Originally Posted by kcowan It is ironic to me that driving a Corvette was what probably did him in. And close to home too. It seems that he was acting out "the guy next door" when the accident happened... (Although definitely "within his means"!)

I did read one of his blog posts that addressed high-dollar cars...specifically sports cars. He was a big fan of sports cars and made note that the Corvette is about as "sensible" as you can get when it comes to high dollar fast cars. I am sure he could MORE than afford a $100K car, but instead had a "great value for the money" car. I would guess that as a % of net worth, his cars were probably MUCH less than a lot of posters here.

Out of morbid curiosity, I looked to see if he had a mortgage on his primary home here in Georgia...and he didn't...not ever. The last mortgage that was recorded here (a different home) was paid off in 1982. I'd say he was pretty true to his word(s) in regards to money management.

Here's the entry on "Corvettes in Blue Blood Estates"

Corvettes in Blue Blood Estates?

[Arif]

I remember reading the Millionaire Next Door during OBC (officer basic course) and it really opened my eyes. So much so that I had my wife read it and convinced her to save/invest her income while we lived off of mine. One of the best decisions we made fresh out of college.

Sorry to hear about the accident.

[Dreamer]

I own and read the Millionaire Next Door and it definitely made an impression on me also.

This is so sad. Thank you for posting this, because I had not heard it.

[Sarah in SC]

I was a volunteer participant in their studies and just received this note, from his daughter via email. This was sent to all on their mailing list. Quite a legacy he left, including a daughter to continue his work.

Thomas J. Stanley, Father & Mentor
Dear Readers,

Thomas J. Stanley, my father and mentor, passed away after a tragic car accident on February 28th, 2015. At the time of his death, we were working together on multiple projects, including two new books, Data Points, and a line of research examining life experiences and wealth accumulation.

Our family takes great comfort from the kind messages and comments that reveal the positive and lasting influence my father’s work had on people’s lives. In the wake of his passing, several journalists have provided unique and thoughtful commentary on how he redefined what it means to be wealthy.

Two things are clear from the coverage of his life and work: 1) many individuals have benefited from his research, and 2) some individuals continue to deny the inherent ability for individuals to build wealth on their own through hard work and diligence.

Therefore, his work must and will continue: providing real data versus conventional wisdom about the wealthy, demonstrating the power of behavior and life experiences in the creation and prediction of wealth, and illustrating how one can become financially in
dependent without wealthy benefactors or a hefty monthly paycheck.

My father enjoyed sharing the stories, habits, and life experiences of American millionaires. We will continue to tell these stories, analyze empirical and archival data, and carry on the research my father conducted over his lifetime. Thank you for your continued interest…there is more to come.

Sincerely,

Sarah Stanley Fallaw, Ph.D.