This insight is the key to this book, because it shows that the millionaire-next-door is usually best described as frugal.
Many were also under-dressed for the occasion, wearing well-worn suits. The only food they indulged in was the crackers. For example, not one person ordered any delicacies, nor drank the most expensive wine. The authors made some significant observations. As part of their research, they threw a penthouse party and invited the typical millionaire-next-door types to attend, to interview them about their journey to wealth. This research is the most comprehensive ever conducted on America’s millionaires, and is an important text that shares information on who they are, and how they got to be so wealthy.ĭuring their research process, the authors met over 500 millionaires face-to-face. Furthermore, the advertising industry, the music industry, and Hollywood, have done an exceptional job convincing us that wealth and hyperconsumption go hand in hand. Many of us have no idea about the actual inner workings of a wealthy household. Authors Thomas Stanley and William Danko, debunk the myths about the millionaire lifestyle, and give us a more accurate, yet surprising portrait of the average American millionaire. On the contrary, the typical American millionaire enjoys quite a modest life, in a middle-class suburb.
#Millionaire next door summary full#
The majority of America’s wealthy don’t live the Hollywood high life, wear designer shades, and have garages full of fancy cars. The authors studied the profiles of the rich, and provide critical insights into achieving financial independence. The Millionaire Next Door, aims to dispel myths about the wealthier sector of society, and it reveals that many of us are misinformed about what it actually means to be rich. They’ll definitely come away more knowledgeable and greatly inspired by women who have found the key to riches.What do you imagine when you picture the lifestyle of the rich and the famous? Many of us are under the impression that millionaires are conspicuous consumers who purchase high-end designer items, and splash their cash with frivolous abandon.
Stanley’s thoroughly researched findings and conclusions will fascinate readers everywhere. “The vast majority of the millionaire respondents (92 percent) in The Millionaire Next Door were men………… I felt that it was indeed time for successful businesswomen of the self-made variety to be heard.” And heard they are in this book that is every bit as informative and inspirational as the author’s earlier works.
“Why write another book that profiles millionaires?” Stanley asks. With Millionaire Women Next Door, he now focuses on one of the least understood but increasingly rich demographics. Stanley first swept aside the mythical magic curtain of wealth with The Millionaire Next Door, revealing just who and how common the truly wealthy were in this country as well as the characteristics and habits that made them so. They are cultivators of wealth and satisfied with life.”ĭr. They are chained to their paychecks…………The women profiled herein will not tolerate such an existence.
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