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The Millionaire Next Door [Paperback]

Thomas J. Stanley (Author), William D. Danko (Author)
4.0 out of 5 stars  See all reviews (1,027 customer reviews) |
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Book Description

Publication Date: October 1, 1998
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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The Millionaire Next Door + Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! + Think and Grow Rich
Price For All Three: $28.10

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  • Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki Mass Market Paperback $7.99

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Editorial Reviews

Amazon.com Review

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. --This text refers to the Hardcover edition.

From Library Journal

In The Millionaire Next Door, read by Cotter Smith, Stanley (Marketing to the Affluent) and Danko (marketing, SUNY at Albany) summarize findings from their research into the key characteristics that explain how the elite club of millionaires have become "wealthy." Focusing on those with a net worth of at least $1 million, their surprising results reveal fundamental qualities of this group that are diametrically opposed to today's earn-and-consume culture, including living below their means, allocating funds efficiently in ways that build wealth, ignoring conspicuous consumption, being proficient in targeting marketing opportunities, and choosing the "right" occupation. It's evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck. In The Millionaire Mind, an excellent follow-up to the highly successful first analysis of how ordinary folks can accumulate wealth, Stanley interviews many more participants in a much more comprehensive study of the characteristics of those in this economic situation. The author structures these deeper details into categories that include the key success factors that define this group, the relationship of education to their success, their approach to balancing risk, how they located themselves in their work, their choice of spouse, how they live their daily lives, and the significant differences in the truth about this group vs. the misplaced image of high spenders. Narrator Smith's solid, dead-on reading never fails to heighten the importance of these principles that most twentysomethings should be forced to listen to in toto. Highly recommended for all public libraries. Dale Farris, Groves, TX
Copyright 2001 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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Product Details

  • Paperback: 272 pages
  • Publisher: Gallery Books (October 1, 1998)
  • Language: English
  • ISBN-10: 0671015206
  • ISBN-13: 978-0671015206
  • Product Dimensions: 5.4 x 0.8 x 8.2 inches
  • Shipping Weight: 9.1 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (1,027 customer reviews)
  • Amazon Best Sellers Rank: #5,773 in Books (See Top 100 in Books)

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More About the Authors

Discover books, learn about writers, read author blogs, and more.
William D. Danko
Thomas J. Stanley

Customer Reviews

Most Helpful Customer Reviews
230 of 243 people found the following review helpful
By A Customer
Format:Hardcover
Every now and thena very, very special book comes along with a "aha" and this is such a book. Many people are spending their way through high incomes---keeping up with the "JONE'S" high profile lifestyle's encumbered with high debt and zero savings. I worked for a millonaire one time who said"Money buys clothes, clothes don't buy anything!" He advised us to buy our "toys" clothes, cars, vacations etc. off profits of profits and never spend principal! This mans nt worth was well in excess of $350,000,000. I would also recommend three other books; "RICHEST MAN IN BABLYON" by George Clawson, "WEALTH WITHOUT RISK" and "FINANCIAL SELF-DEFENSE" by Charles Givens. Remember, it's not what you make, it's what's left over that counts. If you spend all of your money on your lifestyle, guess what? You'll always have to! Good reading, excellent book.
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518 of 555 people found the following review helpful
By A Customer
Format:Hardcover
I used to be one of those people who spent all or at least most of my money and thought I was doing okay with the little savings I had in the bank earning 2% (wow).I always bought brand new cars, new clothes, went on vacations 6-8 times per year and partied. I had a great time! One day my company shut down and I was forced to live on 50% OF MY INCOME. My savings dwindled to nothing and I had a hard time making car and credit card payments. I came to the realization that I was "renting" my "lifestyle" all of which was encumbered with debts and false belief in "job security" A friend loaned me a copy of "The Millionaire Next Door" and I had to painfully admit that I had been a fool. I met a really nice old couple in their '70's who never made much over minimum wage in salary, but were debt free and had 100's of thousands to retire on and were living better than the flamboyant fools like me who spent through their incomes. This book turned me around. I would also recommend "9 Steps to Financial Freedom" and 'More Wealth without Risk" to add to your library, or at least borrow from a library. I am now living better, earning 20-25% in mutuals, contribute to my new companies 401 (k), have a IRA and am DEBT FREE with the exception of my mortgage which will be paid off in five years (or less).
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178 of 187 people found the following review helpful
By A Customer
Format:Paperback
Creating wealth is sort of like dieting.Everybody wants the end result but the discipline to achieve that result is usually lacking.Oh, if only there were a magic pill that you could take to lose weight or to create wealth without changing your habits. We would all be rich.FRUGALITY...FRUGALITY...FRUGALITY. It takes discipline.Contrary to certain opinions i.e. revews posted here, you don't need "a wad" to do this.However, by following these concepts, you will soon have a wad.There is no level of income that you can't outspend and yet most of us feel that we have an unlimited supply of cash.You would think that considering the ever increasing number of bankruptcies and mortgage foreclosures not to mention company downsizings that people would have learned by now. Peer pressure...keeping up with the Jone's drives many people to live beyond their means. Remember this: when your outgo exceeds your income, your upkeep will become your downfall.DELAY GRATIFICATION. Pay yourself first. Invest and then buy toys with the profits.Another good book to read is Rich Dad Poor Dad and Cash Flow Quadrant. Robert . Kiyosaki has a different strategy than Stanley and Danko in certain areas but is in agreement in other areas. The authors work compliments each other and I highly recommend these books to all would be financial achievers.Another book that is popular right now and says some of the same things is The Automatic Millionaire by David Bach.Read and grow rich.
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Most Recent Customer Reviews
Are We All Getting Wealthier?
Do You long to be a millionaire? Doesn't everyone? Well being a millionaire used to be everyone's dream. I can remember back to when I was a kid. Read more
Published 13 days ago by Gary Peterson
Old material, not updated as advertised
This book was supposed to be updated. It wasn't, the examples and stats were years, if not decades old. Disappointing read.
Published 25 days ago by Jacqueline Walker
You would have never guessed
Most people think that if you have a flashy car and big house you must be rich. Surprising the opposite is true and millionaires are great at spending less than they earn. Read more
Published 1 month ago by France Roy
Great Book!
I loved this book. It debunks all of the stereotypes of the wealthy class, limo riding, cigar smoking, elites dining out in their finest, versus the real wealth of ordinary stiffs... Read more
Published 1 month ago by Stephen A. Schullo
Dry but still entertaining
This book was dry but still very good. I liked the examples, and the overall book did raise some very good questions. Read more
Published 1 month ago by DMoroi99
Life changing experience!
I haven't read many books related to this topic, but am I ever glad that something compelled me to picking this one up. It's been a total eye-opening experience. Read more
Published 1 month ago by Daniel
This book not just about being a millionaire
This book provided some solid reaffirmation that some of the things we have been doing have been right (even through several market crashes)and wisdom for decisions we must make at... Read more
Published 1 month ago by Love My Kindle
Took a whole book to say "don't spend any money and look for bargains...
Having money is not an end, it's a means to an end. Yes, you can collect more and more money by not spending any, and it's certainly a good idea to avoid borrowing money that... Read more
Published 1 month ago by Steven Coallier
T J Stanley knows from where he speaks.
Once you start reading Stanley's books you wont quit. He is #1 in my book. You'll benefit from reading his books. Read more
Published 1 month ago by herbert
Enjoyed the read and practical advise!
Enjoyed the read and the analysis on Millionaires.
The emphasis on being frugal, frugal & frugal couldn't have been put in better words. Read more
Published 1 month ago by Shefali Dua
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Front Cover | Table of Contents | First Pages | Surprise Me!
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dealer loyalists, annual realized income, economic outpatient care, prodigious accumulators, dealer shoppers, expensive motor vehicle, millionaire population, affluent business owner, substantial cash gifts, millionaire households, having adult children, gift receivers, most successful business owners, typical millionaire, actual net worth, ancestry group, most millionaires, top wealth holders, wealth equation, vehicle buyers, affluent parents
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Johnny Lucas, Low Moderate Having, New York, Neiman Marcus, Saks Fifth Avenue, Shopper One, General Motors, District of Columbia, South Carolina, Rhode Island, Elementary School Teacher, New Mexico, New Hampshire, Brooks Brothers, Diners Club, West Virginia, Senior Manager, Shopper Four, University Professor, New Jersey, Middle Manager, All Millionaires, North Dakota, Carte Blanche, American Express Platinum
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