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Sarah Stanley Fallaw

9 Podcast Episodes

Latest 18 Sep 2021 | Updated Daily

Weekly hand curated podcast episodes for learning

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Do you want to be the Next Millionaire Next Door? with Sarah Stanley Fallaw

Plan Wisely with Erik Garcia

In today’s episode of Plan Wisely Podcast, host Erik Garcia interviews Sarah Stanley Fallaw, Psychologist, Researcher and the Founder and President of DataPoints, the company that created the world's first financial psychology toolkit. Sarah is also the co-author of the best-selling book, “The Millionaire Next Door.” Erik and Sarah discuss the portrait of a millionaire and finding your path to wealth and financial independence.  Episode Highlights: What led Sarah to write and publish the book The Millionaire Next Door? (00:44) What’s the portrait of the millionaire? What does the millionaire look like? (03:00) How well are you managing your financial life? (06:04) Skills, abilities, and competencies required to become financially independent (08:44) Finding your path to wealth and financial independence? (10:01) Who is The Next Door Millionaire? (13:41) Age as a predictor of net worth (16:13) The first generation of millionaires (18:42) Behavioral characteristics of people who have financial success (20:13) Behavioral characteristics that lead to wealth building (22:58) Why do we buy what we do not need? (26:55) The importance of budgeting when it comes to wealth creation (28:18) The correlation between high income and high net worth (30:39) The role of discipline in wealth building (31:31) What is social indifference, and how does it predict net worth? (36:20) 3 Key Points If you think about managing your financial life as a job, you can always ask yourself what you need to do the job better. A high income does not necessarily mean high net worth. Discipline is mandatory when it comes to financial success. Key Quotes: “You have to work hard for things and don't expect to walk out of college or some kind of training program that you may have been in and all of a sudden things are going to be fine.” - Sarah Fallaw “It's very important to ensure that you're being smart about the things that you use, including your money and part of that does have to do with discipline.” - Sarah Fallaw “Those who can really spend in a way that's conducive to their own goals and ignores the consumption behaviors of their neighbors and friends, tend to build wealth better than those that are heavily Influenced by how everybody else drives, buys and wears things.” - Sarah Fallaw Resources:Sarah Fallaw LinkedInPlan WiselyFINRAData PointsThe Millionaire Next Door Erik's Website: https://www.plan-wisely.com/Erik's YouTube Page: https://www.youtube.com/channel/UCjD-ImfJlSItr5b3zUwKLVA/about?disable_polymer=1Email Erik: Erik@plan-wisely.comCall Erik's Office at 504-218-5479

45mins

3 Jun 2020

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Are You the Next Millionaire Next Door? - Sarah Stanley Fallaw

The Scope of Practice Podcast

Episode 03 - Did you know that the top five professions for millionaires doesn't include doctors?  Teachers are #3!!  Why are teachers better at building wealth than physicians?In this episode, Dr. Sarah Stanley Fallaw unpacks the research behind the book The Next Millionaire Next Door.  We talk about what it takes to be a millionaire in America today.  You'll be amazed to see how simple it is, and you'll be blown away that more physicians don't do it.If you're less than five years out of training and you listen to this episode, there's no excuse for you to not retire as a millionaire.  None of these strategies are sophisticated.  It's simple, but it's not easy.  It requires discipline, frugality, and making smart choices with our money on a daily basis.  But, the reward is tremendous.So, do you have what it takes to be "the next millionaire next door"?  Subscribe to the podcast so you never miss an episode!Featured online community: White Coat Travel TipsResourcesFree download: "5 Financial Decisions Couples Should Make Together"Money Personality Test (free): https://www.datapoints.com/personalityAdditional resources from Dr. Fallaw: www.themillionairenextdoor.comConnect with Dr. Fallaw: www.datapoints.com

53mins

18 May 2020

Similar People

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How Your Personality Affects Your Finances, with Dr. Sarah Stanley Fallaw

Afford Anything

#255: When a crisis hits, do you stay calm and collected, or do you launch yourself down a rabbit hole of worry and worst-case scenarios? When the stock market spirals downward, do you shrug and stay the course, or do warning bells explode in your brain? When news of the pandemic hit, was your first instinct to form a calm and reasoned action plan, or rush to the store to buy months of supplies? Your personality influences your reactions to these scenarios. Today’s guest, Dr. Sarah Stanley Fallaw, has a Ph.D. in applied psychology and is the founder of DataPoints, a research firm based on the science of building wealth. What links between personality and money management has research uncovered? We discuss this topic in today’s episode. For more information, visit the show notes at https://affordanything.com/episode255

1hr 13mins

4 May 2020

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The Next Millionaire Next Door, with Dr. Sarah Stanley Fallaw

Afford Anything

#190: More than 20 years ago, affluence researchers Dr. Thomas Stanley and Dr. William Danko surveyed a vast number of millionaire households in the United States. What they discovered was groundbreaking at the time. The average U.S. millionaire, they found, lives a frugal lifestyle. They are disproportionately clustered in modest, middle-class neighborhoods. They drive used cars. They don’t spend money on jewelry, watches, boats or other high-ticket items. They’re self-made, meaning they did not inherit their wealth; they’re first-generation millionaires. In 1996, the researchers published their findings in a book called The Millionaire Next Door: The Surprising Secrets of America’s Wealthy. The book became a mega-bestseller and, to this day, remains a top personal finance classic. Fast-forward to 2012. Dr. Thomas Stanley’s daughter, Sarah, followed in her father’s footsteps. She’s grown up to become a researcher, earning a Ph.D. in applied psychology and exploring the world of behavioral finance. She became the Director of Research for the Affluent Market Institute, the research company her father founded, and she launched her own research firm, DataPoints. In 2012, Dr. Sarah Stanley Fallaw and Dr. Thomas Stanley decided to update their research on millionaire households in anticipation of the 20th anniversary of the publication of The Millionaire Next Door. They wanted to see what attributes are different, 20 years later, and what qualities remain the same. They crafted another large-scale survey of millionaires. Yet before they could complete the project, tragedy intervened. In 2015, Dr. Thomas Stanley was killed in a car accident. He was hit by a drunk driver. His daughter resolved to finish the research that the two of them started together. She sent out the survey they created, gathered and analyzed the results, and published a sequel, The Next Millionaire Next Door, co-authored with her late father. The book is Dr. Thomas Stanley’s final, posthumously-published book. The book was released in October 2018, twenty-two years after the original. On today’s podcast episode, Dr. Sarah Stanley Fallaw joins us to describe what’s different about millionaires, more than two decades later … … and what’s remained the same. For more information, visit the show notes at https://affordanything.com/episode190

1hr 10mins

29 Apr 2019

Most Popular

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103. You Too Can Be "The Next Millionaire Next Door" with Sarah Stanley Fallaw Ph.D.

Seven Figures: Smart Money Strategies for Women with Sandy Waters

Our guest today is going to help you get millionaire status. Well, at least have a better understanding of how self-made millionaires got to where they are financially. Their behaviors, the “rules” they follow, what their life is really like. Dr Sarah Stanley Fallaw is an industrial psychologist, researcher, and president of DataPoints. She is continuing the research her dad Thomas J Stanly started back in 1996 when he published the bestselling book “The Millionaire Next Door” Sarah has now co-authored the updated version “The Next Millionaire Next Door...Enduring Strategies for Building Wealth” Get ready to soak in over 40 years of research of what it takes to achieve wealth. A big thank you to Sarah for graciously giving her time to be part of our $even Figures Community. Cheers to being a financially confident woman! See omnystudio.com/policies/listener for privacy information. Learn more about your ad choices. Visit podcastchoices.com/adchoices

25mins

26 Apr 2019

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Becoming the NEXT Millionaire Next Door (with Dr. Sarah Stanley Fallaw)

The Stacking Benjamins Show

How will YOU become the next millionaire next door? Believe it or not, it's been 23 years since The Millionaire Next Door shook the foundation of what people thought about wealth. You mean LOTS of people built their wealth in other ways than inheriting a bunch of money or working in huge income jobs? ...and that just because you LOOK wealthy doesn't mean you ARE wealthy? Today we talk to Dr. Sarah Fallaw (researcher and also the daughter of Thomas Stanley, author of the Millionaire Next Door) about how YOU can set yourself up to join this elite group. We'll discuss your friends, where you live, financial advisors, and more.Plus in our headlines segment, the results of a new survey are out about investor expectations, and they aren't good. Many investors have...maybe unrealistic ideas about their investment strategies. We'll explain on the show. Plus, one company has created a new credit card that will help you save into your 401(k) plan every time you save. Too good to be true? We'll answer that question on the show.Then we'll throw out the Haven Life Line to Jon, who wants us to shed some light on the difference between a Roth 401k and an after tax basis employee savings and stock ownership plan.Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins. MagnifyMoney.com saves users on average $450 when they compare, ditch, switch and save on credit cards, student loan refinancing, checking, savings and more. Check out MagnifyMoney.com for your savings.

59mins

5 Dec 2018

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Dr. Sarah Stanley Fallaw - The Next Millionaire Next Door

Standard Deviations with Dr. Daniel Crosby

Dr. Sarah Stanley Fallaw - The Next Millionaire Next Door Standard Deviations welcomes Sarah Stanley Fallaw, Ph.D. the founder and President of DataPoints LLC, a research-based technology company that gives advisors tools to identify and guide better financial behaviors in their clients. Dr. Fallaw is continuing and furthering the important work begun by her father, Thomas Stanley, author of The Millionaire Next Door. In this data-packed episode, Dr. Fallaw shares with us: What to look for in an appropriate measure of risk toleranceThe characteristics shown by young people who are likely to become millionairesThe steps you can take to become the next millionaire next door Learn more about Dr. Sarah: https://www.datapoints.com/ https://twitter.com/sarahfallaw Sarah's new book: https://www.amazon.com/Next-Millionaire-Door-Enduring-Strategies/dp/1493035355/ref=sr_1_1?ie=UTF8&qid=1538393280&sr=8-1&keywords=sarah+stanley+fallaw

36mins

29 Nov 2018

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How to Become the Next Millionaire Next Door with Dr. Sarah Stanley Fallaw, Ph.D.

Money Guy Show

We have a special show for you this week with a very special guest: Dr. Sarah Stanley Fallaw, Ph.D. Dr. Fallaw is the founder and President of DataPoints LLC, a company that provides scientifically validated, automated behavioral finance tools to the financial services industry. DataPoints created the industry's first biodata-based, predictive assessment of individual propensity to build wealth. She is the co-author of The Next Millionaire Next Door, a new edition to her father Dr. Thomas Stanley’s original text The Millionaire Next Door. Dr. Fallaw joins us to share her research on what the portrait of today’s millionaire looks like. She reveals the psychological and behavioral side of financial planning. Tune in to find out how the way people think about and react to money correlates with their ability to build wealth. For more details, visit the show notes on our website:  https://www.moneyguy.com/2018/11/become-next-millionaire-fallaw/

1hr 3mins

9 Nov 2018

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Episode 38 - Dr Sarah Stanley Fallaw on behavioural change, coaching and Financial Planning

Nextgen Planners

What we cover in the podcast:Sarah's background in Financial ServicesWhat DataPoints is and what it doesthe Results from DataPoints with newer generation advisersSarah's beliefs on money coac

5 Dec 2017