![the next millionaire next door the next millionaire next door](https://i.ytimg.com/vi/IMcsTHGjv6c/maxresdefault.jpg)
Like the original, the new book offers advice on what people can learn from millionaires to become wealthy. When I hit the century mark I will be summarizing what we’ve learned about millionaires so far.Ī preview: the millionaires highlighted in this book look a lot like the millionaires I’ve interviewed. I’m closing in on my 100th millionaire interview. He’s either married (69%) or remarried (25%).Here are some of the factors that make up today’s “average” millionaire: The Average MillionaireĪs you might imagine, the book calculated another round of major stats on millionaires. But I would like to point out a few highlights to give you a flavor of what to expect. I don’t want to spoil the excitement for you, so I won’t share all the details. I can’t remember when I was this excited to get a book. Her findings are in the new book The Next Millionaire Next Door. His daughter, Sarah Stanley Fallaw, then took up the task of looking at The Millionaire Next Door 20+ years later to see how millionaires today compared to those in the 1990’s.
The next millionaire next door driver#
Stanley was planning on updating his book for its 20th anniversary, but tragically he was killed by a drunk driver in 2015. I’ve always been thankful for what he did for me.ĭr. And why not? He had given me something that had changed my life in such a positive and dramatic way. I often told people to, “Read the book, do what it says, and then become wealthy.”Īnd while I never met him, I always considered the book’s author, Dr. It was the book that opened the others to me. Over time I would run into several other life-changing money books, but I always had a special fondness for The Millionaire Next Door. We started applying those principles to our lives (with me playing good offense and my wife playing good defense) and the rest is history.
![the next millionaire next door the next millionaire next door](https://0901.static.prezi.com/preview/v2/u225sqoy7xpynr5myevcmdfb2t6jc3sachvcdoaizecfr3dnitcq_3_0.png)
All you had to do was apply a few, simple principles ( seven to be exact), give it time, and wealth would be yours. In fact, the book showed that a lot of “average Joes” were millionaires. I think it was the down-to-earth message that resonated with me.
![the next millionaire next door the next millionaire next door](https://wealthsuccessmindset.com/wp-content/uploads/2021/03/4324-the-millionaire-next-door-summary-by-thomas-stanley.jpg)
Then in the mid-90’s I ran into a book that would change my life: The Millionaire Next Door. I read several money books that offered “ok” suggestions but nothing really stuck. We could see what not to do - the things to avoid - but what should we do? What actions should we take to grow our net worth? We could learn from others’ mistakes without actually making the mistakes ourselves.īut that was only part of what we needed. For several years we saw examples of what not to do with money. Over and over we saw the results of over-spending and living way above your means. Mostly we worked on creating budgets, getting them out of debt, and the like.Įven with the big drop off between “person with a problem” to a “person meeting with us” that I’ve discussed previously, we still had many people to serve. We took the training (which would resemble Dave Ramsey’s Financial Peace course today) and before long we were counseling people with major money problems. We also wanted to help other people and volunteer through our church.Īfter asking several older and wiser people for their advice, we decided to join a program that offered financial help to those in need. We knew that time together would be scarce (we both worked and my hours were especially brutal) so the limited time we had we wanted to spend together. When we were married in the early 90’s, my new wife and I hatched a plan.