Thomas J. Stanley was an author, lecturer, and researcher who started studying the affluent in 1973. He died in 2015. William D. Danko is professor emeritus at the School of Business, State University of New York at Albany. Sarah Stanley Fallaw, Ph. D., is president of DataPoints, a company that provides assessments based on the research and data of her father, Thomas J. Stanley.
The Millionaire Next Door: The Surprising Secrets of America's Wealthyby Thomas J. Stanley Ph.D., William D. Danko, Cotter Smith (Read by)
"Why aren't I as wealthy as I should be?" Many people ask this question of themselves all the time. Often they are hard-working, well educated middle- to high-income people. Why, then, are so few affluent. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a
"Why aren't I as wealthy as I should be?" Many people ask this question of themselves all the time. Often they are hard-working, well educated middle- to high-income people. Why, then, are so few affluent. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a new foreword for the twenty-first century. According to the authors, most people have it all wrong about how you become wealthy in America. Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence. The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their family's wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people. In fact, you will learn that the flashy millionaires glamorized in the media represent only a tiny minority of America's rich. Most of the truly wealthy in this country don't live in Beverly Hills or on Park Avenue-they live next door.
- Simon & Schuster Audio
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- Abridged, 2 cassettes, 2 hrs.
- Product dimensions:
- 7.08(w) x 6.98(h) x 0.75(d)
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I really recommend this book. This book really does show the truth behind the wealthy in the country. Although like the book says it takes a lot of hard work and discipline to maintain and build a good amount of wealth. Although this book does talks about the taxes the point is made that in order to build wealth you need to really dedicate yourself into doing so and that falling into the pattern of buying status products will really make things harder on yourself. There is 1 thing that is not necessarily true and that is that this book kinda implies that u cannot have a nice car or have a large house in order to get wealthy. It does make a point that it would not be possible to build wealth well if you buy a car every 3 years but that doesn't mean 1 cannot buy 1 brand new car and keep it. Although this would not be possible with a wage that is at the poverty level. A person cannot be expected to be able to build wealth in such situation but the book does point to the fact that dedication and hardwork is needed.
Like a statistics book, it does get tedious at some parts, more due to its repetitiveness, but it does get its point across. It shows that everyone can save and work hard to become a millionaire. What we see on TV, the celebrities are just a small fraction and are kind of like the atypical millionaires; they don't represent the majority of the rich in terms of lifestyle and attitude. This book shows how living below your means, with the goal of financial independence in mind, can get you to millionaire status. What's said is a good reality check to reorient yourself to achieving your ultimate goal. Quite humbling.
I read this book and put in place what was suggested and became a Millionaire
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