The Millionaire Next Door: The Surprising Secrets of America’s Wealthy

Do you dream of becoming a millionaire? Chances are, you answered the previous question with a “yes,” but doubt there is any possibility of that happening. However, according to the 20 years of research conducted by Dr. Thomas J. Stanley and Dr. William D. Danko, authors of The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, you may be closer than you think.

Over the years—through conversations with millionaires—Stanley and Danko conclude that there are seven keys that can unlock the door to becoming a millionaire. These steps are presented in eight comprehensive chapters. This book teaches you the importance of reevaluating your spending habits, as well as the effect your career decisions can have on your financial profile. What might appear to be the right career move today may leave you filled with regret tomorrow. 

The individuals profiled in this book don’t live luxurious lives, because to them it seems to be a waste of resources. Or, to paraphrase the authors, typical members of this elite club “aren’t what they dive.” (Ed. Note: Warren Buffet, the Oracle of Omaha, could be the poster boy for this book’s basic philosophy. Mr. Buffett resides in a house he bought for $41,5000 and regularly dines on hamburgers. He’s worth $36 billion—give or take a few million.) 

Co-authors Danko and Stanley have both held faculty positions at state universities. William D. Danko chairs the marketing department at the University of Albany, State University of New York, where Thomas J. Stanley was also a professor. It was almost thirty years ago that they began researching together. 

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy is an insightful examination of how you can become a millionaire.

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