865: Sarah Fallaw, The New Millionaire Next Door

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 27 March 2019

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is more familiar with The Millionaire Next Door than anyone else. She is Sarah Fallow, the daughter of the late Thomas Stanley, the book's author. Sarah is the Founder and President of DataPoints LLC, a company that provides scientifically validated, automated behavioral finance tools to the financial services industry. As the 20th anniversary of The Millionaire Next Door drew nearer, Sarah worked with her father to do research and development for an updated version of the book. With her psychology and data background and his extensive experience researching millionaires over his career, together they created an outline for what would become a book entitled The Next Millionaire Next Door. Today we’re going to talk to Sarah about her and her late father's findings. What’s changed when it comes to the behavior of millionaires and what can we learn from them? Also, what was it like growing up with Thomas Stanley and how does she hope to carry on his legacy? To learn more about Sarah Fallow, please visit www.DataPoints.com and follow her on Twitter @SarahFallaw. You can also purchase The Next Millionaire Next Door wherever books are sold. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	So Money episode 865, Sarah Falah, author of the next millionaire next door.
0:06.0	You're listening to So Money, with award-winning money guru Farnush Karabi.
0:12.0	Each day, get a 30 minute dose of financial
0:14.4	inspiration from the world's top business minds authors influencers and from
0:19.2	Farnuos yourself looking for ways to save on gas or double your double coupons?
0:25.0	Sorry, you're in the wrong place.
0:27.0	Seeking profound ways to live a richer, happier life.
0:30.0	Welcome to So Money.
0:34.0	One of the things that we, and one of the ways we think about financial management is that it is a job.
0:40.0	It's a job that you might, you know, that we don't apply for and we're all in.
0:43.9	But we have different and unique strengths and weaknesses when it comes to that.
0:48.8	We are in conversation with Sarah Falah.
0:51.8	She is the daughter of Thomas Stanley who co-wrote the iconic book The Millionaire Next Door. That book went on to sell millions of copies. It was on the New York Times Best Seller list for months and in the book he and his co-author revealed what real millionaires actually wore what they drove where they lived a lot of surprising statistics because ultimately what we discovered is that
1:13.1	millionaires live pretty frugally but do those messages in the book still ring
1:17.9	true today do the millionaires of today behave in the same way as the ones Thomas studied 20 years ago.
1:25.6	We're about to find out.
1:26.6	Welcome to So Money, everybody.
1:27.8	I'm your host, Farnoosh Terabi.
1:29.5	Sarah Falah is the author of the new book book The Next Millionaire Next Door.
1:35.0	As the 20th anniversary of The Millionaire Next Door is upon us, Sarah worked with her
1:39.2	late father to do research and development for an updated version of his book and with her psychology
1:45.4	and data background and his extensive experience researching millionaires over his career.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Farnoosh Torabi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Farnoosh Torabi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.