Instead of spending their money on expensive cars or designer clothing, they choose to save and invest it, focusing more on intangible relationships with family and friends than outward displays of success.Īs the saying goes: "even the smallest leak will sink the biggest ship." The Millionaire Next Door will enable you to examine your financial decisions against the actions of others who have achieved financial security, helping you find the wealth-destroying leaks in your current financial situation. Based on extensive statistical research and multiple case studies, their findings are astounding: The typical millionaire is over 50, lives in a modest home. without spending it.īased on Stanley & Danko's 20+ years of research, people who are financially secure are very different from people who "act wealthy." The Millionaire Next Door will give you a candid and detailed look at the personal habits of the financially successful.įinancially successful people choose to do work that is economically rewarding, then manage their income with frugality and thrift. In The Millionaire Next Door, authors and wealth analysts Stanley and Danko replace the big-spender millionaire image with a more realistic picture of America’s actual millionaires.
What's the easiest way to have a net worth of over $1 million dollars? Find a way to earn a million dollars. In it, the authors detail what they have learned after interviewing countless millionaires and their families. Danko is undoubtedly a classic in the personal finance space. Review: 'The Millionaire Next Door' by Thomas Stanley & William Danko The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. America found out just who and how common the truly wealthy were in this countryand we learned the characteristics and habits that made them so. Wealth in America is more often the result. From The Personal MBA's List of the 99 Best Business Books. This book is a compilation of research done by the two authors in the profiles of millionaires (note the term millionaire. According to the authors, most people have it all wrong about how you become wealthy in America. The Millionaire Next Door : The Surprising Secrets of Americas Wealthy (Reprint).
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