The Millionaire Next Door: Book Summary - Thomas J. Stanley Ph.D.

The typical American millionaire doesn't live in Beverly Hills and drive a Ferrari. They live next door and drive an old Ford. The millionaires in our society rarely get rich because of an inheritance or a superior education. A typical millionaire will shop around for a used car, hide their wealth from their young children and reject a flashy and glamorous lifestyle. The image we have of high-flying millionaires wearing $500 shoes and travelling nine months of the year represents only a tiny minority of America's financially wealthy. Originally published in 1996, 'The Millionaire Next Door' allows us to see into the lives of America's rich. Author Thomas Stanley exposes the seven characteristics that most millionaires have in common.
A Book Summary
In today’s busy world it can be hard to find the time to sit down and read a complete book. This book summary presents just the most important and impactful ideas discussed in 'The Millionaire Next Door' but removes the padding that publishers require their authors to add. You are left with a summary that will provide all of the core benefits of reading the full book but without the time commitment.
Book Synopsis
'The Millionaire Next Door' examines the wealthy people in our society. Author Thomas Stanley spent over twenty years interviewing people with a total net worth of over one million dollars. He and co-writer William Danko found seven characteristics common to this exclusive group of people. In 'The Millionaire Next Door' Stanley and Danko discuss the differences between millionaires and everyone else. They challenge our preconceived ideas of what a millionaire looks like, showing that we probably couldn't pick them out of a line up if we tried; the typical millionaire is a very regular looking person. There are no interviews with pro-athletes or entertainers, but plenty of insights from millionaire welding contractors and wall-board manufacturers. 'The Millionaire Next Door' reveals the discipline and sacrifice required to join the millionaires club.
In One Sentence
Learn what today's typical millionaire does in order to accumulate great wealth.
The Author
Author Doctor Thomas J Stanley spent the last twenty years learning about the millionaires living next door. Stanley was formerly a professor at Georgia State University, teaching in the field of marketing. He holds a PhD in Business Administration. After publishing 'The Millionaire Next Door' in 1996 Thomas Stanley achieved popular acclaim from critics. 'The Millionaire Next Door' has sold over two million copies and spent over 170 weeks on the New York Times Bestsellers list.