The Millionaire Next Door by Thomas J.Stanley & William D. Danko
Posted by admin on Dec 2, 2007
By Bruce L. Oliver
The authors started studying how people become wealthy 20 years ago. It is very interesting to to see how the neighbor next-door becomes a millionaire and how that very same person spends his or her time at work, at play and with their family. The authors share the secretes of those millionaires in their book.
The millionaire next-door did not become a millionaire by winning the lottery or on Regis Philbin’s new game show: Millionaire. Most millionaire’s in the United States are people just like you and I except they invest their money on a regular basis and live modest lives. After interviewing over 1000 millionaires, they discovered that the average millionaire makes $131,000 per year but invests up to 15 percent of their income on annual basis. Most millionaires drive regular cars that they bought used for less than $25,000, live-in modest homes, and work in a non-glamour industry. As a matter of fact most millionaires are entrepreneurs that own and operate their own small business.
If you’re interested in making it to the ranks of a millionaire then I believe that this book is for you. It may surprise you to find out that that capability is within your reach. As the authors say, you have to learn how to become a PAW (prodigious accumulator of wealth) rather than a UAW (under accumulator of wealth).
The book certainly makes interesting reading for the curious and the serious. Then, the rest is up to you.
