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Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen

thomas j. stanley

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"Most Americans are not free. They are chained to their paychecks............The women profiled herein will not tolerate such an existence. They are a different breed. They are free. They are cultivators of wealth and satisfied with life."

Dr. Thomas J. Stanley first swept aside the mythical magic curtain of wealth with The Millionaire Next Door , revealing just who and how common the truly wealthy were in this country as well as the characteristics and habits that made them so. With Millionaire Women Next Door , he now focuses on one of the least understood but increasingly rich demographics.

"Why write another book that profiles millionaires?" Stanley asks. "The vast majority of the millionaire respondents (92 percent) in The Millionaire Next Door were men............ I felt that it was indeed time for successful businesswomen of the self-made variety to be heard." And heard they are in this book that is every bit as informative and inspirational as the author's earlier works. Stanley's thoroughly researched findings and conclusions will fascinate readers everywhere. They'll definitely come away more knowledgeable and greatly inspired by women who have found the key to riches.

320 pages, Hardcover

First published January 1,2004

This edition

Format
320 pages, Hardcover
Published
May 1, 2004 by Andrews McMeel Publishing
ISBN
9780740745324
ASIN
0740745328
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, 78 votes)
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78 reviews All reviews
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Coopsterrr
★ ★ ★ ★ ★
March 26,2025
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A follow-up to "The Millionaire Next Door", "Millionaire Women Next Door" highlights the lifestyle trends of millionaires, only this time the focus is solely on wealthy women. A low profile, low consumption, frugal way of living appears to be the trend amongst the majority of these millionaires "next door". These profiled female millionaires are some of the wealthiest yet also some of the most generous givers in our country donating to charitable causes, granting forgiveness loans to friends and family, and funding education costs for family members. On average these women live in homes valued $299,990 or less. Very few drove luxury vehicles or purchased expensive boats, gifts, or jewelry. Careers seen most among this population included small and large business owners, sales jobs, and surprisingly, educators. I found this book to contain some surprising and interesting information but also found it to be lengthy and overstated. My advice would be to read "The Millionaire Next Door" and skip the redundant "Millionaire Women Next Door".
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DexterAnodyne
★ ★ ★ ★ ★
March 26,2025
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Frugal life style, spend time investing and drive to be financial indepedent
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SubaChuva
★ ★ ★ ★ ★
March 26,2025
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Good balance of analytical data and personal stories. Very motivating to see how so many women have created and managed success in various types of businesses. A bit dated now, with the data from 2004 or prior; would love to see an updated edition. Plenty of data for a deep dive for those who enjoy that type of information.
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Yhagbakri
★ ★ ★ ★ ★
March 26,2025
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Interesting book. I read this one because all copies of "The Millionaire Next Door" were checked out of the library.
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BR12345
★ ★ ★ ★ ★
March 26,2025
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really fun to read this book! enjoyed the statistics and the realism - not what you'd think the girls would be like.
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TrisTops
★ ★ ★ ★ ★
March 26,2025
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Still needing to finish this book, did not have the same sticking level of interest to me as the other books, maybe I just needed to get into it a bit more,,,
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ephemeriis
★ ★ ★ ★ ★
March 26,2025
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This book was good because: it was a self-confirmation of the way we are living and it’s end result; and to know that we are not alone in our desire to become wealthy. It confirms that if you just want money to spend money, you’re never going to be wealthy.
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angiew
★ ★ ★ ★ ★
March 26,2025
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In A Nutshell:
The Millionaire Next Door and The Millionaire Mind had revolutionized the way that I thought about money--or maybe it is more accurate to say that these books changed the way I aspire to approach money. No longer did it seem impossible to be financially independent even on the salary that I currently make and the salary I can hope to make in my current career (which I do love and I do feel utilizes my talents and aptitudes).

But those books did have a very strong focus on male millionaires, and as a single mother I felt some of the principles out of my reach. So I almost jumped for joy when I saw Millionaire Women Next Door. Financially independence now feels attainable--even for me.

Review:
I had read both The Millionaire Next Door and The Millionaire Mind a few years back. But after some recent major changes in my life, I decided to rededicate myself to the goal of financial independence, so I checked them both out from the library to re-read. It was during the search for these two books that I found Millionaire Women Next Door. So after re-reading both of the originals, I dove into this newer installment.

Reading them so closely together, I did see that there is some repetition between the three books. It makes sense because some of the principles that people follow as part of their plan for financial independence are going to be the same regardless of gender. But the repetition did get to be a little boring in certain spots. There is also a lot of quotes directly from the previous books, which is probably necessary for the people who started with this book without reading the other two. But for me, it just further accentuated the repetition.

There is a large section where Thomas J. Stanley goes into detail about the difference between "Alpha" women millionaires (women who became millionaires after growing up in a loving, supportive, and in many cases frugal environment) and "Beta" women millionaires (women who became millionaires after growing up in negative and/or hostile environment). This section really hit close to home for me and really gave me insight into who I am and why I approach money in some of the ways that I do. He goes on to talk about being married to "Marginal Bob." It explained so much to me about how I ended up in the situation(s) I did.

Understanding some of these things about myself have helped me as I focus on my goal of financial independence. I can see some of the areas that I have to watch for myself so they do not get out of control again. I have also been able to forgive myself for some of the mistakes of my past--with an understanding that I have to work hard to not end up in that same place a second time.

As a parent, this book has also made me think of how I want my daughter to relate to money. As she gets older, I want to start to implement some of the techniques the millionaire women talked--such as open honest discussions of how money is spent as a family every paycheck.
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