Key insights from
The Millionaire Next Door: The Surprising Secrets of America's Wealthy
By Thomas J. Stanley, William D. Danko
Audio available
8 minute read
Published Nov 16, 2010
What you'll learn
Stanley and Danko have been studying the affluent for decades—not for the sake of the wealthy, but for the sake of those who are not yet wealthy, but could become so. The authors maintain that the United States remains a land of opportunity, and they distill principles that can help people move beyond the fantasies of millionaire lifestyles to the practical how-to’s of getting there.
Key insights
- • What you'll learn
- 1 The flashy spendthrift millionaire trope has little in common with the profile of most American millionaires.
- 2 Be a prodigious accumulator of wealth—not an under accumulator of wealth.
- 3 Next-door millionaires live far below their means.
- 4 PAWs and UAWs use their time and energy very differently.
- 5 Parents giving regular financial gifts to adult children damages kids’ productivity more than any other factor.
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