Description
In The Millionaire Next Door, you will study these seven character- istics of the wealthy. We hope you will learn how to develop them in yourself.
The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don’t live in Beverly Hills or on Park Avenue-they live next door. This new edition, the first since 1998, includes a new foreword for the twenty-first century by Dr. Thomas J. Stanley.
The authors compare the behavior of those they call “UAWs” (Under Accumulators of Wealth) and those who are “PAWs” (Prodigious Accumulators of Wealth). They found that millionaires are disproportionately clustered in middle-class and blue-collar neighborhoods and not in more affluent or white-collar communities. This came as a surprise to the authors, who anticipated the contrary. Stanley and Danko’s book explains that high-income white-collar professionals are more likely to devote their income to luxury goods or status items, thus neglecting savings and investments.
