It has been a quarter of a century since Thomas Stanley, who received his doctorate in business administration in 1974 from the University of Georgia, wrote the bestselling book “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy.” Co-authored with a former student, William D. Danko, the book’s enduring and timeless message was that many wealthy individuals grew rich on an average salary, through hard work, modest spending, careful saving and taking the occasional calculated risk.
People with higher incomes tend to feel prouder, more confident and less afraid than people with lower incomes, but not necessarily more compassionate or loving, according to research published by the American Psychological Association.
Interviews by the University of Illinois Chicago’s Institute for Research on Race and Public Policy highlight the precarity of many Black and Latino families who have ‘made it’
While COVID-19 has impacted all individuals, the impact has not been equal. In a new national Socioeconomic Impact of COVID-19 survey, the Social Policy Institute at Washington University in St. Louis found that liquid assets increased the likelihood that an individual could practice social distancing. However, Black individuals were least likely to afford social distancing.
New UNLV study finds that drivers of flashy cars are less likely to yield for pedestrians.
It’s no secret that students whose families have more money typically perform better in school than those who come from homes with fewer financial resources.