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The Millionaire Next Door: The Surprising Secrets of America's Wealthy

thomas j. stanley william d. danko

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The incredible national bestseller that is changing people's lives -- and increasing their net worth!

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?

Where did their ancestors come from?

How did they get rich?

Can I ever become one of them?

Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised at what you find out....

258 pages, Paperback

First published October 28,1995
Literary awards
independent publisher book award (ippy), 

This edition

Format
258 pages, Paperback
Published
October 1, 1998 by Gallery Books
ISBN
9780671015206
ASIN
0671015206
Language
English

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About the author

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thomas j. stanley

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Thomas J. Stanley was an American writer and business theorist. He was the author and co-author of several award-winning books on America's wealthy, including the New York Times' best sellers The Millionaire Next Door and The Millionaire Mind. He served as chief advisor to Data Points, a company founded based on his research and data. He received a doctorate in business administration from the University of Georgia. He was on the faculty of the University at Albany, State University of New York. He taught marketing at the University of Tennessee, University of Georgia and Georgia State University (where he was named Omicron Delta Kappa's Outstanding Professor).
Thomas Stanley was born in the Bronx in 1944. His father worked as a subway car driver, while his mother was a homemaker and secretary. He attended college in Connecticut, doing graduate work at the University of Tennessee. He earned a doctorate at the University of Georgia, and eventually moved to the Atlanta area to teach at Georgia State University. Stanley spent most of his career studying how the financially successful Americans in a wide range of professions and with a varying level of income acquired their wealth on their own. In 2015 he was killed by a drunk driver at the age of 71. During his last days, he was working on a book with his daughter, an industrial psychologist, who later finished it. The book is called The Next Millionaire Next Door: Enduring Strategies for Building Wealth, and attributes authorship to Thomas J. Stanley and his daughter, Sarah Stanley Fallaw.

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Community Reviews

Rating(4 / 5.0, 100 votes)
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ryoangus
★ ★ ★ ★ ★
March 26,2025
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Rubbish.
It is not written about the majority of us. It is written FOR the majority of us to make us believe that wealth is everpresent and easily accessible in our society.

The numbers are often listed in a manner that does not acknowledge any actual analysis. Nor is inflation considered with any degree of seriousness. As most cheerleading books for market boosterism it gives its sideways genuflection to supply siders by completely ignoring the operating differences between income and wealth.
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a-wild-julibean
★ ★ ★ ★ ★
March 26,2025
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The essence of this book is probably: (1) millionaires live a more normal, down-to-earth lifestyle than you would expect, and (2) frugality is more important than (high) income. On a more detailed level, I found the aspect of minimizing one's realized profit quite enlightening.

Overall a good and enjoyable read. Sometimes a bit too many statistics and numbers for me - but I guess that's really the core of this book.
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Haegen
★ ★ ★ ★ ★
March 26,2025
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There’s a reason this is in the discussion for the GOAT personal finance book. Couldn’t put it down.
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Debesuotas
★ ★ ★ ★ ★
March 26,2025
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A quick read with loads of statistics on the wealthy in this country. I find it funny that after getting older I realize that my dad was always right. Frugality is the key - live below your means and don’t fall into lifestyle traps. Pay yourself first - invest a third. A high income doesn’t mean wealth, my dad was a farmer for 40 years in the Dominican Republic who came to this country with nothing and died with a quarter million and had opportunities to be a millionaire given his investing philosophy and frugality.
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DarkD1
★ ★ ★ ★ ★
March 26,2025
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Couple of pre-requisites you need to know before picking this book:
1. This is authored keeping America and its citizens in mind. So if you are outside the USA, might not have a similar impact it has on American citizens
2. Reading this book in 2020 can be considered a little late to the party as it is published for readers of 1995/96. And there is a considerate amount of book that addresses the next 10 years (95-05)

Keeping aside the above points. This book revolves around all combinations of parents-children, self-employees vs regular job holders vs entrepreneurs relationships when it comes to affluence. Has a few good insights on what it means to be frugal and how it benefits wealth accumulation in long run. In short, tries to answer this question "Do you wish to become affluent and stay affluent?". The better part of the book according to me is that it doesn't discriminate or rule out lower-income groups off the chart. I have indeed learned a few things out of this book which I hope to implement in my life and change my defense
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rawrsaysno
★ ★ ★ ★ ★
March 26,2025
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A must read for every first generation immigrant (like myself). A must read for every millennial trying to navigate finance in a world post 2008. A must read for everyone that took out loans for grad school. A must read for everyone who’s ambitious. A must read for every new parent.
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hermitsage
★ ★ ★ ★ ★
March 26,2025
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Short and sweet. The main premise is that conspicuous consumption does not a millionaire make. Hard work (especially in the form of small business owner) and frugality are more predictive of wealth accumulation.
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