In this case they used the term millionaire to denote U.S.

Often they are hard-working, well educated middle- to high-income people.

For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of Americas Wealthy, reissued with a new foreword for the twenty-first century by Dr.

Thomas J. Stanley.

According to the authors, most people have it all wrong about how you become wealthy in America.

Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence.

You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their familys wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people.

Most of the truly wealthy in this country dont live in Beverly Hills or on Park Avenue-they live next door.

But, as they point out, their prescription often flies in the face of what we think wealthy people should do.

There are no pop stars or athletes in this book, but plenty of wall-board manufacturersparticularly ones who take cheap, infrequent vacations Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society.

Focusing on those with a net worth of at least 1 million, their surprising results reveal fundamental qualities of this group that are diametrically opposed to todays earn-and-consume culture, including living below their means, allocating funds efficiently in ways that build wealth, ignoring conspicuous consumption, being proficient in targeting marketing opportunities, and choosing the right occupation.

Its evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck.

The author structures these deeper details into categories that include the key success factors that define this group, the relationship of education to their success, their approach to balancing risk, how they located themselves in their work, their choice of spouse, how they live their daily lives, and the significant differences in the truth about this group vs.

Narrator Smiths solid, dead-on reading never fails to heighten the importance of these principles that most twentysomethings should be forced to listen to in toto.

This text refers to an out of print or unavailable edition of this title.

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