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The Millionaire Next Door: The Surprising Secrets of America's Wealthy Paperback – November 16, 2010
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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.
- Reading age5 years and up
- Print length272 pages
- LanguageEnglish
- Dimensions5.88 x 0.79 x 9.06 inches
- PublisherTaylor Trade Publishing
- Publication dateNovember 16, 2010
- ISBN-101589795474
- ISBN-13978-1589795471
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Editorial Reviews
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The kind of information that could lift the economic prospects of individuals more than any government policy...The Millionaire Next Door has a theme that I think rings very true..."Hey, I can do it. You can do it too!" -- Rush Limbaugh
[A] Remarkable book. ― The Washington Post
A nerve has been hit....[For] people who want to become wealthy. ― USA Today
A primer for amassing wealth through frugality. ― The Boston Globe
An interesting sociological work. ― Business Week
A fascinating examination of the affluent in American society. ― The Dispatch (Lexington, NC)
These, for the wise, are tips for all of us....A very readable book. ― Cox News Service
Debunks the image of the rich as high-living spendthrifts. ― U.S. News and World Report
I love the book, The Millionaire Next Door. It talks about how it is a myth that most millionaires in America have inherited their money. The fact is, we have created such a great country over 250 years. We have actually found the way for poor people to go from nothing to huge wealth and to create a life-changing opportunity for their children and grandchildren. We celebrate it, write movies about it, and our libraries are full of books about it. There is nothing wrong with that. -- Bernie Sanders
The authors mine reams of data to show the surprisingly frugal traits millionaires have in common. "The main lesson provided is that high income does not equal wealth," said J.R. Rosskamp, managing director of Veritas Partners, Inc., a business consulting firm. Rosskamp calls "Millionaire Next Door" a "must read, and the earlier the better." ― Chicago Tribune
The authors mine reams of data to show the surprisingly frugal traits millionaires have in common. "The main lesson provided is that high income does not equal wealth," said J.R. Rosskamp, managing director of Veritas Partners, Inc., a business consulting firm. Rosskamp calls "Millionaire Next Door" a "must read, and the earlier the better."
― Chicago Tribune
About the Author
Thomas J. Stanley is an author, lecturer, and researcher who has studied the affluent since 1973. He lives in Atlanta, Georgia.
William D. Danko is associate professor of marketing in the School of Business, University at Albany, State University of New York.
Product details
- Publisher : Taylor Trade Publishing; Reissue edition (November 16, 2010)
- Language : English
- Paperback : 272 pages
- ISBN-10 : 1589795474
- ISBN-13 : 978-1589795471
- Reading age : 5 years and up
- Item Weight : 2.31 pounds
- Dimensions : 5.88 x 0.79 x 9.06 inches
- Best Sellers Rank: #1,554 in Books (See Top 100 in Books)
- Customer Reviews:
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Is The Millionaire Next Door Still a Relevant Book Today?
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Lots of insights into how to think like a millionaire.
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Become A Millionaire By Reading This Book! - Review
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My TOP 3 takeaways after reading and implementing
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This Book changed my life!
⭐ Reviews by the Zuniga Family ⭐

About the authors

Dr. Thomas J. Stanley (1944-2015) was the author of seven award winning books concentrating on America's wealthy population and was the foremost authority on the affluent. His last book, The Next Millionaire Next Door, was published posthumously in October 2018 and co-authored by Dr. Sarah Stanley Fallaw.
He began studying the affluent in 1973. Dr. Stanley's first book, Marketing to the Affluent, was selected as a top ten outstanding business book in America by the editors of Best of Business Quarterly. Dr. Stanley wrote The Millionaire Next Door in 1996. Over 4,000,000 copies of this New York Times bestseller have been sold. In 2000, he published The Millionaire Mind, which explored America's financial elite and how they became so. The Millionaire Mind debuted at #2 on the New York Times bestseller list. His other works included Selling to the Affluent, Networking with the Affluent, Millionaire Women Next Door, and Stop Acting Rich.
The author lived in Atlanta, held a doctorate of business administration from the University of Georgia in Athens and was formerly a professor of marketing at Georgia State University. Visit Dr. Stanley's website at www.thomasjstanley.com for more information on his life and work.

New York Times best selling author, Dr. William Danko has coauthored a new book with Dr. Richard Van Ness. Richer Than A Millionaire ~ A Pathway to True Prosperity. It is written for the 2020's environment.
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The book is based on primary and secondary research of millionaires and those who are en route to that status.
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The authors answer such questions as, “What does it take to be rich?” “How can I be financially secure?” “What does it take to be prosperous?”
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Order your copy now... https://www.amazon.com/Richer-Than-Millionaire-Pathway-Prosperity/dp/0692912711/ref=asap_bc?ie=UTF8
~~~
~ "Richer Than A Millionaire" is a timely book which embraces traditional values.
~ William D. Danko, Ph.D. is coauthor of The Millionaire Next Door, a research-based book about wealth in America that has been ranked as a bestseller by the New York Times for more than three years.
~ Richard J. Van Ness, Ph.D. is an author and for 28 years, professor of finance, accounting and management. His research includes wealth building and economic sustainability for microenterprises.
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Learn more how customers reviews work on AmazonCustomers say
Customers find the book very understandable, with good examples and data-backed look at the wealthy. They also appreciate the valuable wisdom and powerful combination of regular saving. However, some find the rest of the book repetitive.
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Customers find the book's content valuable, packed with information, and inspiring. They say it teaches that cash flow is necessary, and that regular saving is powerful.
"Great book, full of wisdom in managing money. I highly recommend to anyone who wants to be wealthy." Read more
"...A Useful Definition of Wealth -- Wealth is much more than how much money you pull in every year and how much your house costs...." Read more
"...is nothing groundbreaking in this book but it does give insight on how to manage money for long term wealth...." Read more
"...This book helped me set financial goals and immediately after reading it, I was able to assess what I really need in my life and cut my next month’s..." Read more
Customers find the book very understandable, well written, and illustrative. They also say it provides a simple formula to becoming rich. Readers also say the message is solid and very useful in today's world. They appreciate the data-backed look at what the wealthy look like, and the collection of anecdotes and interesting conclusions about countless Americans.
"This is an excellent, data-backed look at what the wealthy look like in the United States...." Read more
"...The book has a simple equation for where you should be based on age and income...." Read more
"Easy to read book with great information." Read more
"even with an updated forward, very out dated book. hard for my kids to apply it when it constantly using pricing from the 80"s" Read more
Customers find the book repetitive, frustrating, and dull at times. They also say the book makes simple concepts incredibly long-winded and incomplete.
"...It does however get repetitive half way through by repeating the number one lesson we can all learn from this book..." Read more
"I liked this book more than i didn't. I felt it was incomplete. I saw nothing about balancing income versus spending." Read more
"...in the few points that are made in this book, but this is not one of the best books I have ever read on investing or even about financial behaviors..." Read more
"...Some chapters are a bit long winded; for example, the chapter on buying a car is probably 2-3 times longer than it needs to be..." Read more
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The wealthy on the other hand delay luxurious consumption and invest a certain percentage of their incomes into income generating assets. When their accumulated wealth reaches a certain level they purchase luxuries without endangering their wealth. So most of the people you see on yachts, wearing expensive watches and jewelry are high income generators who will most probably end up with no wealth in their older years. The people in the process of becoming millionaires which could take 30 years or even more live in modest neighborhoods, drive ordinary sometimes even second hand cars, dress and in short live modestly in everyway. Some of them may have high incomes but a vast majority of them have learned to get by on a modest income and generate wealth from that average income by saving and investing about 10 % of their income every month for about 30 years or so. It doesn't matter where they invest ; stocks, Treasury Bills etc. Compounding small income streams over 30 years buids enormous wealths.
One very striking thing that the authors mention is how adults receiving financial support from their affluent parents develop weak characters in terms of wealth building ability. They are in fact adult children, because they haven't developed the self discipline to be frugal and build wealth. Their well meaning parents unknowingly make them weaker by supporting them financially. Their children are often adults in their 30's, 40's and sometimes even 50's and surprisingly many of them have careers ; some are professors, doctors, lawyers etc. Their common trait is that they enjoy an upper middle class lifestyle through hyperconsumption financed in part by their own incomes but to a great extent by financial support provided by their wealthy parents who may be in their 80's by now. They think their parents' wealth is their income. In reality their parents are wealthy but they are not. What is even worse is that their children also get accustomed to the upper middle class living standard. But once the financial support and / or inheritance from the grandparents is all consumed away the grand children risk falling into a poor lifestyle. Because nobody other than the grandparents knew how to build wealth. In fact, many of these adult children are aware that they can not generate wealth and therefore worry and are very anxious about their future. In summary, when the affluent provide for " financial outpatient care" by financially supporting their adult children they prevent the development of the character qualities such as frugality in them. So their children and or their grandchildren are often doomed to a poor lifestyle following an irresponsible hyperconsumptive life funded by parental financial help. Although the authors have written these for the USA I would like to add that this is the situation in many countries including the USA. I just didn't know that it was as prevalent as the authors explain.
We can learn a lot from this book / CD but the sad thing is that it is probably difficult to change our lifestyles and habits if it turns out that our present consumption / saving habits are not making us millionaires ; if for example your family's lifestyle is hyperconsumptive and there is no frugality, you may have a hard time after reading this book in changing the habits of all the family members so that everybody will become frugal and thereby increase the chances of you and your family becoming millionaries.
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I have recommended this book to many family members and friends as it has changed my perspective on what wealth is all about.
Remember, the book will provide you with the knowledge to accumulate significant wealth but it is up to you to execute what you have learned.

















































