Thomas Stanley

The Millionaire Next Door

1. IDEA 1

   Real millionaires often look ordinary

   Stanley and Danko surveyed wealthy Americans and found that many millionaires live surprisingly modest lives. They often drive ordinary cars, live in average homes and do not look rich, while many people who appear wealthy have little saved.

2. IDEA 2

   Income does not equal wealth

   The authors distinguish high income from accumulated wealth. Many high earners spend almost everything they make, so they build little wealth. In the authors' view, a big salary shows what someone earns, not what they keep.

3. IDEA 3

   Some people accumulate far more

   The authors describe prodigious accumulators of wealth, who have much more wealth than expected for their income, and under accumulators, who have much less. Habits explain the difference. Two people with the same pay can end up far apart.

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