November 03, 2018

Live Like a Millionaire

Living like a millionaire isn’t what most people think it is. Wealth building starts with living below your means and sticking with smart money strategies. Then, we can all breathe easier these days, as air pollution has dropped over the last 20 years. But a scientist says we still have a way to go to eliminate all health risks from the air we breathe.

Episode Segments:

Enduring Strategies for Building Wealth Sarah Stanley Fallaw, PhD, industrial psychologist, researcher, and president of DataPoints, author of The Next Millionaire Next Door: Enduring Strategies for Building Wealth wrote a follow up to her father’s classic book “The Millionaire Next Door.” She talked about several myths relating to millionaires and how they accumulate wealth. She discussed the importance of living below your means, and how to identify and develop behaviors that are conducive to building wealth.
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The Decline of Air Polution Air pollution in the U.S. has decreased since about 1990. Jason West, PhD, Professor of Environmental Sciences and Engineering at the University of North Carolina at Chapel Hill Gillings School of Global Public Health led a study that found that this improvement resulted in a 47% decrease in deaths related to air pollution exposure. He noted that, despite clear improvements, air pollution remains an important public health issue in the U.S., with an estimated 71,000 deaths in 2010. He discussed the effectiveness of tree planting programs and other steps ordinary people can take to help.
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The Link Between Healthcare and Education Alan Monheit, PhD, Professor of Health Economics and Chair, Department of Health Systems & Policy in the School of Public Health, Rutgers University led a study that examined the relationship between parental education and family healthcare spending. He found that parents educated beyond high school spend significantly more on healthcare, despite differences in family income and health insurance. He also discussed differences he found in healthcare decisions made by single-mother families compared to two-parent families.
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Guest(s) Appearing on this Episode

Sarah Stanley Fallaw Sarah Stanley Fallaw, Ph.D. 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. This pioneering product for understanding client psychology has been featured in media outlets including MarketWatch, Money Magazine, InvestmentNews, and U.S. News & World Report. DataPoints was a finalist in the XY Planning Network's 2016 fintech competition. Sarah also serves as the Director of Research for the Affluent Market Institute, founded by Dr. Thomas J. Stanley. She is co-author of an upcoming book examining the behaviors and lifestyle of affluent Americans 20 years after the publication of The Millionaire Next Door. Prior to her current roles, Sarah created the consulting division of what was formerly Qwiz (then PreVisor, SHL, and CEB), and worked for 15 years in the field of personnel selection, designing hiring systems and psychometric assessments for Fortune 100 companies. Sarah's research has been featured in conferences and publications including Industrial and Organizational Psychology and the Journal of Financial Services Professionals. Sarah received her Ph.D. in Applied Psychology from the University of Georgia. Follow Sarah on Twitter