357: The Behaviors and Psychology of Becoming The Millionaire Next Door with Sarah Fallaw

Today, I’m talking to Dr. Sarah Fallaw. Sarah is the founder and president of DataPoints, where she provides her clients with technologically enabled financial psychology tools to enhance wealth building.

If you’ve been following the podcast, you’ve likely seen Sarah’s writing and research in our Weekend Reading for Retirees series. Her work has been featured in the Journal of Financial Planning, Financial Planning Review, and Industrial and Organizational Psychology. 

In her book, The Next Millionaire Next Door, she updates her father’s classic text (and one of my dad’s favorite books) to answer the question: what does it take to be the Millionaire Next Door today? 

In our conversation, Sarah shares the biggest lessons she took away from her father, Dr. Thomas J. Stanley. We explore the traits that set people up to succeed in life and business, what it means to be wealthy in this modern era, and the common behaviors we see in clients of all ages when making effective financial decisions.

GET A FREE COPY OF SARAH’S BOOK, THE NEXT MILLIONAIRE NEXT DOOR

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• Step 1.) Subscribe to the podcast and leave an honest rating & review over on iTunes.
• Step 2.) Text BOOK, that’s B-O-O-K to 866-482-9559 for a link to our book request page, complete the form and we will ship you the book for free. It’s that simple!

In this podcast interview, you’ll learn:

• Why there’s a difference between being rich and well-off.
• How social media–and watching people drive, buy, and wear things–may have a huge impact on the next generation of savers.
• Why successful investing behaviors can be learned and improved–and how to do it.
• The difference between behavioral finance and financial psychology.
• Sarah’s advice for the millionaire next door who has more than they need, but struggles to enjoy what they’ve worked so hard for in retirement.

Show Notes: RetireWithPurpose.com/357

Rate & Review the Podcast: RetireWithPurpose.com/review

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