Item description for The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley, PH.D. & PH.D . William D. Danko...
Overview Reveals that the accumulation of wealth in the United States is most often done through hard work, diligent savings, and living a frugal lifestyle
Publishers Description The incredible national bestseller that is changing people's lives -- and increasing their net worth CAN YOU SPOT THE MILLIONAIRE NEXT DOOR? 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....
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Est. Packaging Dimensions: Length: 0.75" Width: 5.5" Height: 8.5" Weight: 0.6 lbs.
Release Date Oct 1, 1998
ISBN 0671015206 ISBN13 9780671015206 UPC 076714014008
Availability 0 units.
More About Thomas J. Stanley, PH.D. & PH.D . William D. Danko
Thomas J. Stanley, Ph.D., is an author, lecturer, and researcher who has studied the affluent since 1973. His work is frequently cited in the national media. He is the author of Marketing to the Affluent, a bestselling book selected as one of ten outstanding business books in America by the editors of Best of Business Quarterly. Dr. Stanley was formerly a professor of marketing at Georgia State University, where he was named Omicron Delta Kappa Outstanding Professor, and was on the faculty of the University at Albany, State University of New York. He lives in Atlanta.
Thomas J. Stanley currently resides in Atlanta, in the state of Georgia.
Reviews - What do customers think about The Millionaire Next Door?
Great read! Jun 11, 2008
Descriptions from interviews of millionaires were the most interesting aspects of this book. The authors occasionally cited actual paraphrases from some of these folks and those statements were often impactful.
At the end, it's all common sense as in almost all business books. My biggest gripe was the overbearing use of statistics - they can make the numbers say whatever they want and there were times that they did this. For example, their questionaire must have had a question about being self-made or did they recieve an inheritance. Everyone always says they are self-made even if they came from a fairly well off family. They oversimplify how difficult it is to become more wealthy than your parents. Relying on the answers to a questionaire for this insight is unreliable.
But in summary, the book makes some great points about the inner workings of a traditional successful business owner. My favorite of which is that any business owner in any industry can become immensely successful, whether it be hauling garbage, running pawn shops, designing software or selling pharmaceuticals. It's all about hard and smart work.
Great book May 28, 2008
I am a financial advisor and I frequently loan this book to clients and they usually love it. Its also a great book to give to young people. It really gets across the message that you don't have to make a lot of money to be wealthy, you just have to live below your means and invest well. Highly recommended.
Common Sense for the financial disciplined May 24, 2008
This book just gives stats behind what should be common sense. If you save your money and stay away from the flashy things in life of course you will be better off in the long run....financially. I think we should all remember the fine line though, tomorrow isn't promised so don't kill yourself to save a couple dollars unless you think you are taking your $ with you when you die. I got through half of this book and just felt they could have gotten to the point in maybe 40 pages, why waste valuable time.
On the contrary, I think this book could be beneficial for those lacking in discipline in their finances. If you fall into this category, I would recommend this book.
Teaching me More than I was Ever Taught about Money May 23, 2008
I'm a single woman in my early 30s, my parents are middle-class and doing okay. The only thing i was taught as a kid was "save your money" or "dont spend it". that went in one ear and out the other. i never had it in my mind to rely on a man or get married for wealth, but my Mom always seemed to put that idea towards me...even though i never took it on. Im an educated woman and working on my Business Degree. Ive made my mistakes in Credit card debt but luckily i am almost debt free and my mistakes never got out of control... i stopped and panicked when my debt hit $8k and for me that was it!
This book is teaching me much more in terms of having a mindset of growing wealth and investing than anything or person in my life ever has. I wish i had this book 10 years ago when i was 20 but i still have plenty of time to get this thing on track.
When we buy groceries we usually have our brands and favorites we buy on certain things... me i pay good money for ice cream. This week I saved $3 by switching to a cheap brand. i was proud of myself. That $3 goes into my savings. I have no doubt in my mind that I will never become a PAW, I plan on putting more time into investing and learning about money each week.
Too bad my Dad never taught me this stuff :(
Must read May 5, 2008
I wish everyone would read this book. You assume someone to be rich because of their car, or clothes. That just proves that they waste more money and probably go into debt for it.
I spent time as a financial analyst for a commercial lending department. Part of my job was to go through people's personal financial statements. My boss, a CPA, recommended this book to me. On of our wealthiest, millionare clients wore sweat pants, had a mullet, and drove an old beat up vehicle. We had another client who was always sporting the latest fashions and drove a Porsche, but was broker than broke and always pleading with us to not return her checks.
The key is to have the self confidence to not spend the money to fix the way people judge you. Would you rather have 10 million dollars and look like crap or be on the edge of bankruptcy and look like a million bucks? I refuse to spend that kind of money to impress someone I probably don't even like or people I don't even know.