The Millionaire Next Door

The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door. This new edition, the first since 1998, includes a new foreword for the twenty-first century by Dr. Thomas J. Stanley.

How can you join the ranks of America’s wealthy (defined as people whose net worth is over one million dollars)? It’s easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means. The last rule is, choose your occupation wisely. You’ll have to buy the book to find out the other five. It’s only fair. The authors’ conclusions are commonsensical. But, as they point out, their prescription often flies in the face of what we think wealthy people should do. There are no pop stars or athletes in this book, but plenty of wall-board manufacturers–particularly ones who take cheap, infrequent vacations! Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society. “You aren’t what you drive,” admonish the authors. Somewhere, Benjamin Franklin is smiling. You can download it here.

Comments

  1. Truthfully, there is no practical adcive that can help one become a millionaire.The same ideas about saving, investing, and living below one’s means will not help anyone without a large income become a millionaire in the future. I think that most of the financial adcive that tells people to be prudent is dangerous.Prudent people are lazy. They are lazy because they turn their minds off to learning new and faster ways to make money. They just sit back and wait and wait and wait and wait. The people that are truly rich never wait to make money, and they certainly do not live below their means. You cannot achieve success without risk.