The Millionaire Next Door: The Surprising Secrets Of Americas Wealthy
Written by Thomas J. Stanley and William D. Danko
Narrated by Cotter Smith
4.5/5
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About this audiobook
Can you spot the millionaire next door?
Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
How did they get rich?
Can I even become one of them?
Get the answers in The Millionaire Next Door, the never-before-told story about weath in America. You'll be surprised at what you find out....
Thomas J. Stanley
Dr. Thomas J. Stanley began studying the affluent in 1973. His coauthored best-selling book, The Millionaire Next Door, released in 1996, has sold 2,000,000 copies. Thomas followed his first book with Marketing to the Affluent, ranked among the ten outstanding business books by the editors of Best of Business Quarterly. In 1999, he published The Millionaire Mind, which explored America's financial elite and how they became so. The Millionaire Mind has sold 750,000 copies. The author lives in Atlanta, holds a doctorate of business administration from the University of Georgia in Athens and was formerly a professor of marketing at Georgia State University.
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Reviews for The Millionaire Next Door
951 ratings96 reviews
- Rating: 5 out of 5 stars5/5Did you know there are millionaires living right next to you? In this book the author does not refer to celebrities and business man in the news. But every day people who thought savvy investments and money management has amazed a net worth of a million dollar or more. People you never hear about or people you do not realized are in fact wealthy. The Author looks at the everyday habits of these unknown millionaires and writes a picture of what it is that actually makes them what they are. Oh also people winning lottery are not included in this book.
1 person found this helpful
- Rating: 4 out of 5 stars4/5The basic message is that you can look rich or you can be rich, but not both. Rather than being advice on saving and investing, it's many many examples of how materialism and conspicuous consumption interferes with long-term financial security. Which is hardly debatable, but I'm not sure how many readers will be helped by that. This is very much written for people in their 50s who have already done some investing. A lot of jargon goes undefined and there is all kinds of advice on providing financial assistance to your already-adult children (basically, don't ever do it). The authors themselves are snobs of the genteel poverty sort. Teachers/professors (like them!) are declared the only group that can be trusted to handle money sensibly and the actual millionaires are all portrayed as clever and realistic but also total redneck hicks. I also really disagreed with their assertion that doctors, lawyers, executives etc have literally no choice but to live extravagantly -- that their career success depends on their car, wardrobe, and neighborhood. Do you really know what neighborhood your doctor lives in and what kind of car they drive? Are you a stalker? And since when do the wealthy shop at Eddie Bauer? There are many paranoid references to 'liberal politicians and their friend the tax man' coming after you. And charitable contributions are strongly discouraged. Some advice really is sensible. Especially the idea of living in a lower-income neighborhood than you can afford, so the Joneses don't temp you with their stuff. And there's a whole chapter on car buying, which may be helpful for those of you who drive. But get it from the library.
1 person found this helpful
- Rating: 3 out of 5 stars3/5Some decent insights; worth a read on the beach as inspiration, I suppose.
1 person found this helpful
- Rating: 5 out of 5 stars5/5Lets you know who you are and where you stand to reach your goals. Love the formula in the beginning.
- Rating: 5 out of 5 stars5/5It’s an amazing book, but a bit outdated for 2024, we have so many self made young millionaires due to social media platforms and apps.
- Rating: 5 out of 5 stars5/5This was a wonderful addition to my reading list as I am on the millionaire journey myself. Thank you for writing this!
- Rating: 3 out of 5 stars3/5Good information included, but some of the information/references are outdated. But I would still slightly recommend because the overall information is timeless.
- Rating: 5 out of 5 stars5/5Good but can’t replay it after fully reading it. Must be the app.
- Rating: 5 out of 5 stars5/5Wonderful book thanks for sharing your experience that build us to the best
- Rating: 5 out of 5 stars5/5Great read. It will question your current mindset about yourself and the people around you.
- Rating: 5 out of 5 stars5/5Great book to hey a cobrar picture of how you love reflect how much you actually have.
- Rating: 2 out of 5 stars2/5Very basic - spend less than you earn. What the book really comes down to is how people view wealth. Needs to be updated.
- Rating: 5 out of 5 stars5/5This is really amazing. Loved every bit of it. Amazing Book.
- Rating: 5 out of 5 stars5/5I enjoyed it and good information. I thought the narrator did a good job
- Rating: 5 out of 5 stars5/5I loved that. Learnt a lot. Highly recommend if you want to improve your knowledge on building wealth
- Rating: 5 out of 5 stars5/5Simple yet effective, give a real life examples of how to change small stuff to be able to enjoy the big stuff later in life.
- Rating: 3 out of 5 stars3/5Alright, but I wasn't a big fan of the writing style. It seemed to repeat the same points too much, and lose the reader's interest in a whirlwind of statistics. I'd consider "Your Money or Your Life" by Vicki Robin and Joe Dominguez as an alternative to this book.
- Rating: 5 out of 5 stars5/5LOVED IT! I'm even more determined to build wealth and live like noone else! Some great ideas for how you should be living and careers to build wealth! A MUST READ, especially for teenagers and young adults looking for a good career!
- Rating: 3 out of 5 stars3/5Decent read, but read in a very monotone voice that makes it difficult to pay attention to after awhile.
- Rating: 1 out of 5 stars1/5Sounds like a very outdated and boring book. It doesn't have any insight to any new ideas or thought. After reading rich dad poor dad this is no where close
- Rating: 5 out of 5 stars5/5This book gave me an insight into my financial independence
- Rating: 5 out of 5 stars5/5Very insightful. It really changed my spectative on how in being rich.
- Rating: 1 out of 5 stars1/5This is not the full book, full book is more than 2 chapters
- Rating: 5 out of 5 stars5/5Such an eye opener! Great read, the goal is to be rich not to look rich like they say! Thanks for writing such an awesome book!
- Rating: 5 out of 5 stars5/5Great book eye opener definitely will recommend to my friends and family
- Rating: 5 out of 5 stars5/5Great book, supported by a reliable study, I highly recommend this book
- Rating: 5 out of 5 stars5/5Everyone whom hasn't read this book must do so for even a basic understanding of wealth accumulation. But I do emphasize the common criticism that this book does not address middle class wealth accumulation and how they go about their lifestyle in doing so. But still, I recommend this.
- Rating: 5 out of 5 stars5/5The first time I went through this book 10 or so years ago, I saw it from a different perspective I didn't necessarily agree with as I was very focused on being a startup business owner.
Having just re-read it again, I now see it from a much different perspective - especially as we're heading into an AI-dependent world.
The folks that are mentioned in this book are wanting to offload these businesses now. And as it was mentioned, their kids aren't going to be picking them up if they can help it.
However, if you take the advice from youtube educator Codie Sanchez and realize that many of these businesses are the owners' children as well, you'll see that helping these owners offload them would be very helpful to them.
Nothing worse than building something your entire life up to earning millions and then not being able to pass it on.
If you can put an AI spin on things (or whatever you're personal flavor is) - it's a perfect way to pass things over. - Rating: 4 out of 5 stars4/5Solid advice on the habits of wealthy people. Short read
- Rating: 4 out of 5 stars4/5Great insight into the world of wealth accumulation. Good work!