The millionaire next door by Thomas J. Stanley Ph.D. & William D. Danko Ph.D

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“Why aren’t I as wealthy as I should be?” Many people ask this question of themselves all the time. Often, they are hard-working, well-educated, middle- to high-income individuals. Why, then, are so few affluent? For nearly two decades, the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, reissued with a new foreword for the twenty-first century. According to the authors, most people have it all wrong about how you become wealthy in America. Wealth is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advanced degrees, or even intelligence.

The Millionaire Next Door identifies seven common traits that frequently appear among those who have accumulated wealth. For example, millionaires often bargain shop for used cars, pay a small fraction of their wealth in income taxes, and raise children who are unaware of their family’s wealth until adulthood. Above all, they reject the big-spending lifestyles most people associate with being rich. The flashy millionaires glamorized in the media represent only a small minority of America’s wealthy. In reality, most of the truly wealthy don’t live in Beverly Hills or on Park Avenue—they live next door.

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