They live well below their means
This single line could summarise the entire book and the lifestyle of the majority of American millionaires.
This book has been an international bestseller for the reason that it breaks several stereotypes about the millionaires which are generally propagated by the media. The message, generally shown by them is about the lavish lifestyle they live, be it their luxury automobile or their mansions, so on. The authors armed with the data which was collected for research in the profiles of American Millionaires prove that these millionaires constitute a small portion of the millionaires. Most of the millionaires actually live in the normal middle-class neighborhood and drive in average automobiles.
The book explains very well the difference between wealth and having a high income. The authors mention what actually motivates most of the American Millionaires which is Financial Freedom. The millionaire told them that the journey to wealth is much more satisfying than the destination. When they look back over their history of building wealth, they recall constantly setting economic goals and the great happiness gained from achieving them.
The book is a read for all and by that, I mean everyone should read it as it helps clear a lot of misunderstandings the people have about Millionaires. And only shows the way proven way to be a millionaire and that is live below your means.
Book Details:
Title: The Millionaire Next Door: The Surprising Secrets of America's Wealthy
Author: Thomas J. Stanley, Ph.D. , William D. Danko, Ph.D.
Genre: Non-Fiction, Personal Finance, Self Help, Personal Development
Publisher: Dev Publishers & Distributors
ISBN-10: 0671015206
ISBN-13: 9780671015206
Good one Ajay 👍🏼👍🏼
ReplyDeleteGood description Ajay
ReplyDelete-Deepak
This book will make a interesting read for all. You have captured it's essence well. - Suniti
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