They’re entrepreneurs or professionals in non-flashy fields-for instance, they may be welding or paving contractors, factory owners, accountants, or auctioneers. They didn’t inherit their wealth: 80% accumulated their wealth in their lifetime.Danko and Thomas Stanley’s Millionaire Next Door paints the following picture of the average millionaire: They aren’t interested in status symbols. In contrast, The Millionaire Next Door book shows that those who are truly wealthy typically don’t flaunt it-for instance, they don’t wear expensive clothing or jewelry, or drive luxury or even late-model cars. High-income people who spend freely and ostentatiously fit the Texas description, “big hat, no cattle.” In other words, they put on a show, but lack substance-they have very little accumulated wealth. Read on to learn how The Millionaire Next Door book can help you become wealthy too. These wealth-building principles outlined in Thomas Stanley’s Millionaire Next Door remain relevant today. Danko and Thomas Stanley’s Millionaire Next Door book explains the characteristics of the everyday millionaire and shows how they make, keep, and grow their wealth.
What is The Millionaire Next Door book about? Is The Millionaire Next Door still relevant today?
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Like this article? Sign up for a free trial here. Shortform has the world's best summaries and analyses of books you should be reading. This article is an excerpt from the Shortform book guide to "The Millionaire Next Door" by Thomas J.
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