The Millionaire Next Door by Thomas J. Stanley

the millionaire next door
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy

 

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy (ISBN 0-671-01520-6) is a 1996 book by Thomas J. Stanley and William D. Danko.

The incredible national bestseller that is changing people’s lives — and increasing their net worth!

CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?

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Who are the rich in this country?

What do they do?

Where do they shop?

What do they drive?

How do they invest?

Where did their ancestors come from?

How did they get rich?

Can I ever become one of them?

Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You’ll be surprised at what you find out….

This book is a compilation of research done by the two authors in the profiles of ‘millionaires’ (note the term ‘millionaire’ denotes U.S. households with net-worths exceeding one million dollars (USD)).

The authors compare the behaviour of those they call UAWs (Under Accumulators of Wealth) and those who are PAWs (Prodigious Accumulator of Wealth). Their findings, that millionaires are disproportionately clustered in middle-class and blue collar neighborhoods and not in more affluent or white-collar communities, came as a surprise to the authors who anticipated the contrary.

Stanley and Danko’s book explains why, noting that high-income white-collar professions are more likely to devote their income to luxury goods or status items, thus neglecting savings and investments


GenreSelf-help book

ABOUT THE AUTHOR

Dr. Thomas J. Stanley began studying the affluent in 1973. Stanley was a marketing professor at Georgia State University, a public speaker and consultant on selling to the rich.
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