by Christine Greene
The Millionaire Next Door
The Surprising Secrets of America’s Wealthy
by Thomas J. Stanley, Ph.D. & William D. Danko, Ph.D.
The Millionaire Next Door starts out by turning the idea of wealth on its head by pointing out that a high income doesn’t necessarily translate into wealth if all of that income is spent. When someone spends all of their high income, they are living high but not building wealth. Therefore, not everyone living in expensive houses and driving fancy cars are wealthy. Wealth is less likely a result of advanced degrees, inheritance or intelligence and more likely a result of hard-work, self-discipline, planning and dedication. The Millionaire Next Door has some interesting facts like most millionaires are not the descendants of rich and powerful families, and 80% of U.S. millionaires are first-generation rich. Most millionaires live below their financial means, and they are motivated by financial independence rather than social status. The Millionaire Next Door is someone who doesn’t look like, dress like and act like a millionaire. This book will take you on a journey that reveals who the real millionaires are and how you can become one of them.
Thomas J. Stanley, Ph.D. (1943/1944 – February 28, 2015) was an author, researcher, business theorist and professor with expertise in marketing and the subject of the affluent. He earned his doctorate in business administration at the University of Georgia and was a faculty member at the University of Albany, State University of New York. William D. Danko, Ph.D. is an author and professor with emeritus status at the school of Business, University of Albany, State University of New York. Danko received his Ph.D. from Rensselaer Polytechnic Institute’s Lally School of Management and Technology. With expertise in marketing, management and the subject of the wealthy, he is a sought-after keynote speaker. Stanley and Danko have collaborated on many academic and consulting assignments.
Other notable books include Marketing to the Affluent by Thomas J. Stanley Ph.D.; Millionaire Women Next Door by Thomas J. Stanley Ph.D.; Selling to the Affluent by Networking with the Affluent by Thomas Stanley; The Millionaire Mind by Thomas J. Stanley; Stop Acting Rich: …And Start Living Like A Real Millionaire by Thomas J. Stanley.