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The Millionaire Next Door: The Surprising Secrets of America's Wealthy
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The Millionaire Next Door: The Surprising Secrets of America's Wealthy

4.02  ·  Rating details ·  61,804 ratings  ·  2,758 reviews
The incredible national bestseller that is changing people's lives -- and increasing their net worth!


Who are the rich in this country?

What do they do?

Where do they shop?

What do they drive?

How do they invest?

Where did their ancestors come from?

How did they get rich?

Can I ever become one of them?

Get the answers in The Milli

Paperback, 258 pages
Published October 1st 1998 by Gallery Books (first published October 28th 1995)
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Ron Jones Absolutely worth reading! "Big hat no cattle" will resound with you and, not unlike Ido's comment, many surprises.
Jeanne I'm now sure I understand you. You can review books here, but you read them elsewhere.

Community Reviews

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4.02  · 
Rating details
 ·  61,804 ratings  ·  2,758 reviews

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Oct 22, 2007 rated it liked it
Recommends it for: Everyone
I learned that there are seven characteristics or common denominators among millionaires in America.

They are:

1.They live well below their means - They are frugal,frugal, frugal. They make more than they can spend. Pretty cool.

2.They allocate their time, energy, and money efficiently, in ways conducive to building wealth - How else did they get there right? Well this goes for those millionaires who didn't inherit their wealth.

3.They believe that financial independence is more important than d
Aug 27, 2008 rated it it was amazing  ·  review of another edition
This was a great audio and text book (yes, I got both versions) - I especially enjoyed the chapter that had "Working for the Tax Man" and "The Martin Method."

95% of the millionaires own stocks - most have 20% or more of their wealth in publicly traded stocks.

Build a good money team: accountant, attorney, financial advisor, and you (and spouse).

Looking to build your money team? Ask your CPA. If you do not have CPA... get one.

Be frugal, know your financial picture, and have goals with your money.
Feb 19, 2008 rated it really liked it
The point of this book comes through loud and clear, the people that we think are millionaires are more than likely swimming in debt. Just because you live in a fancy neighborhood and drive an expensive car does not make you rich. In fact it goes as far as to say that most millionaires live in less costly areas because it costs alot of money to keep up with the JONES! In fact their study showed 37 percent of their millionaires bought used cars opposed to new and paid cash of course. Now their us ...more
Chad Warner
Dec 20, 2010 rated it liked it  ·  review of another edition
Recommended to Chad by: Robert Kiyosaki
Most Americans believe "wealthy" and "high-income" are synonymous. Surprisingly, most high-income earners are not wealthy; although they earn a lot of money, they don't keep much of it. To be wealthy is not to amass material possessions, but to increase net worth by collecting appreciating assets.

The book categorizes people as PAWs or UAWs; Prodigious Accumulators of Wealth (PAWs) achieve, create wealth, become financially independent, and build from scratch. Under Accumulators of Wealth (UAWs)
Jul 17, 2012 rated it it was ok
It's rare that you can find a book that is as boring as it is sanctimonious. But they pulled it off!

In a nutshell, millionaires aren't made by extraordinarily high incomes (those people's spending tends to increase as well), in fact they're typically people with merely very good incomes who are zealous about frugality and long term investments. Not a huge surprise actually, but its nice to have numbers to back up the story and they do. Many are small business owners, many don't spend much on car
Kressel Housman
According to this book, there are two kinds of people: under-accumulators of wealth (UAWs), who spend everything they earn as soon as they get it (to say nothing of credit cards); and prodigious accumulators of wealth (PAWs), people who live frugally, save, invest, and end up becoming millionaires. So when you see someone who lives in a fancy house and drives a fancy car, chances are, he’s not a millionaire. He may be a high earner, but he’s also a big spender, so he’s a UAW. A real millionaire ...more
Jan 31, 2015 rated it did not like it
This book was so difficult to get through.
I have been trying to read one financial book a week. I love Suze Orman, Dave Ramsey. I enjoyed the Millionaire Mind; I found it inspiring. I did not enjoy the Millionaire Next Door.

This book is heavily recommended on so many of the financial online forums and blogs I read, so I borrowed it from my library this week.

I found the first chapter very interesting, and then they lost me. I think the premise of this book could be summarized into one chapter. Bu
Angela Randall
There's a lot to say about this book, both positive and negative. It had some great ideas in it, some which are possibly quite revelatory for some people, and some really useful information which I would love to ensure certain people I know read. However, it was also a very dry read, somewhat repetitive and dwelled on some things I didn't think were all that fascinating (like what sorts of cars millionaires drive). It also had a lot of charts, which is fun from a stats perspective and lends cred ...more
Jul 08, 2008 rated it liked it
Recommends it for: Those who have little to no clue about personal finances / overall economics of finance
Shelves: finance-etc
Main message is: Be Frugal, invest.
One driving a Benz is quite likely less worth than one driving a Ford F150 (since the Benz owner has already spent money). Max price paid by 75% millionaires for: Suit $600, Shoes: $200, watch $235 (50%)! JCPenney has toughest quality control amongst all stores. Millionaires' wives are all frugal too. They save coupons etc...
1. All have annual household budget
2. All have accountant
3. All have investments in stocks, real estate, business etc
4. Shopping method
Dec 01, 2017 rated it it was amazing
I very much enjoyed listening to this audio book. It was very interesting, easy to understand and not boring at all.
The bottom line is Millionaires and those wanting to become Millionaires live well below their means. People wanting to look rich will never accumulate any wealth since they are busy paying off debts. This book talks mainly about self employed people but everyone with a decent household income living frugal and investing money can become a financially independent.
A highly recommend
May 22, 2018 rated it it was ok
Shelves: waiting
There are no secrets.

Also, the millionaires are not the kind you'd like to read about. Just bunch of people who saved for 30years and they have 1'000'000$ in the bank, living almost poor, and praising education.

I really don't think the 'secrets' are that surprising.

This book in a nutshell - be frugal.
May 13, 2008 rated it really liked it
Getting rich is most often done by being frugal, not by making outrageous, Trump-like gambits. The last 10 years or so have been marked by periods of investment euphoria (tech & housing), followed by terrible hangovers that have destroyed the wealth of millions within a few years or even months. The latest bubble (George Soros actually thinks 2 bubbles popped simultaneously last year -- the housing bubble and the 20 year credit bubble) could potentially be much more devastating than the tech ...more
Mar 11, 2012 rated it did not like it
Shelves: unfinished
Some people live as they will never die, and die as they had never lived.

It looks much more absurdly when you read about all those "millionairs" who are spending all of their lifetime for meticulous accumulation of wealth accompanied by greed and avarice.

I don't know if there were "researches" conducted by authors indeed, and if all the written is truth. If so, I feel sorry for these poor guys, "millionaires". Having an opportunity to do what they want at least sometimes, they heroically sweep
Jun 03, 2007 rated it did not like it  ·  review of another edition
Recommends it for: people needing a laugh
It is not written about the majority of us. It is written FOR the majority of us to make us believe that wealth is everpresent and easily accessible in our society.

The numbers are often listed in a manner that does not acknowledge any actual analysis. Nor is inflation considered with any degree of seriousness. As most cheerleading books for market boosterism it gives its sideways genuflection to supply siders by completely ignoring the operating differences between income and wealth.
Jul 09, 2012 rated it it was ok
The book points out that many millionaires do not look rich, they are frugal people who live below their means and save money. I feel like I was convinced after the first few chapters, and was annoyed to find the rest of the book just rehashing its main thesis over and over again.
Malin Friess
May 06, 2012 rated it it was amazing
The Millionaire Next Door is a 5 star book with a 1 star title (It sounds too about secrets of those who have saved well)...less sexy, but more humble. My brother in law recommended this book after he began talking about PAW's (prodigious accumulators of wealth) and UAW's (underachieving accumulators of wealth). It turns out this book was for sale at the Goodwill for 1.99..maybe shopping at the Goodwill was the surprising secret of America's Wealthy...I had to find out! So I picked o ...more
Dec 22, 2007 rated it liked it
Shelves: non-fiction, finance
The Millionaire Next Door is a summary of the research of two men who have come to some surprising conclusions about the wealthy in America. For instance, they found that almost two-thirds of America's wealthy are first-generation rich. They also talk about a number of the characteristics of those who become wealthy. It turns out that attitude toward money has a much greater impact on wealth than income or occupation.

The book is filled with lots of fascinating facts and statistics. The authors
Sonia Gomes
Sep 09, 2010 rated it really liked it
Recommends it for: Everyone should read it
Shelves: finance
Main message

Save and Invest
Most of the ideas in this book are explained rather well with a lot of good Case Studies.
However, I did not like the idea that we should not give to charity, we all need help, other than that its a real good book
Петър Стойков
Когато чуем "милионер", разбира се, си представяме това, което филмите ни показват - луксозни коли, огромни къщи с прислуга, частни полети до скъпи дестинации. Само че много често хората, които живеят така изобщо не са милионери, луксозният им живот често е само назаем и приключва в момента, в който изгубят престижната си работа, бизнесът им тръгне надолу или просто парите от наследството свършат.

The Millionaire Next Door е статистическо изследване на "богатите" в САЩ, но е популярно написана,
Mar 04, 2012 rated it really liked it
Shelves: finance, non-fiction
As I read The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust, this book comes back to me. I read it while my son was in college as a "pre-business" (really "I don't know what I want to do") major. I feared he was developing an unrealistic get rich quick attitude so was pleased to discover this book and give him a copy for Christmas. I wouldn't say it changed his life or mine, but it gave us a framework to talk about work and planning which I found useful.

Philip Siegel
Dec 27, 2013 rated it it was amazing
I can't believe I didn't write a review for this book when I first read it. TMND is one of the best books I've ever read and will go into the elite pantheon of books I won't stop recommending. The authors showcase the real millionaires in this country -- not the celebrities or heiresses or CEOs with golden parachutes that we think of. Using comprehensive data, they reveal that true millionaires and those with true wealth, are average, unassuming people like you and me. They work hard (usually fo ...more
Max McCann
Aug 06, 2011 rated it it was ok
So, I'm on this kick lately where I'm trying to read books that will help me get my money right. This book, however, was an utter waste of time. Here's the whole book: "Statistically, most millionaires do not lead extravagant lives. Many are actually quite frugal. That is likely why they are millionaires." How they managed to stretch that into 300+ pages I will never know.
Michael Slavin
Nov 12, 2014 rated it it was amazing
Shelves: business
This is not really a business book, but shows you how all kinds of what one would consider ordinary people become millionaires. It is most often a combination of owning a business and not being wasteful of the money and resources that you earn.
At the time it was written it opened many peoples eyes.
Mar 07, 2019 rated it it was amazing
Lots of information that made me think differently. It also went in some direction that I wasn’t expecting. Very good.
Christian D.  Orr
Eye-opening and thought-provoking!

Very eye-opening and insightful. Reading this book really gets you thinking; among other things, it's motivated me to modify my savings & investment approach.


--FROM THE PREFACE (written by Dr. Thomas J. Stanley in 2010): "Since 1980 I have consistently found that most millionaires do not have most of their wealth tied up in their stock portfolios or in their homes....Not at any
Marcin Zaremba
Dec 01, 2018 rated it liked it
To jest książka o tym, czym jest prawdziwy finansowy „majątek” w odróżnieniu od „wyglądania bogato”.

Napisana 20 lat temu czasami jest zabawna z perspektywy obecnego ścisku klasy średniej, niemniej niesie za sobą dużo interesujących wniosków z badań socjologicznych majętnych ludzi.

Na przykład: nasz obraz milionera jest medialną fikcją. Większość z nich nie nosi drogi zegarków, nie wozi się pięknymi samochodami w drogich dzielnicach. Oni nie lubią ostentacyjnego pokazywania się.

Milionerzy grają z
Foad Ansari
Nov 25, 2016 rated it liked it
کتاب نسبتا خوبی بود و لی عموما عادات مصرفی و کسب و کار آرمریکا را مدنظر قرا داده بود
در کل بعضی از بخشهای کتاب مثلا بخش مربوط به صرفه جویی و تربیت فرزندان و خانواده برای کسب ثروت و اصول پس انداز جالب و موثر بود
Aug 04, 2017 rated it liked it
کتاب مفیدی بود در مجموع، اگر چه یه سری جاها زیاد عدد و رقم و جدول ارائه می کرد که برای من زیاد جالب نیست. یه بدی که این کتاب ها دارن اینه که چند تا راه حل کلیدی ارائه میدن و تو دویست سیصد صفحه هی تکرارشون می کنن در حالی که به نظرم خلاصه تر هم میشه بیانشون کرد.
Mar 12, 2018 rated it liked it  ·  review of another edition
Shelves: non-fic, economics
הגעתי אל הספר הזה עם המון ציפיות ויחסית התאכזבתי. השם של הספר נראה כל כך מבטיח ומגלם צהבהבות רכילותית עם ניחוח של מיסתורין, אבל הוא לא זה ולא זה. הוא די משעמם אם לאמר את האמת.

הספר הוא אוסף של תיאורי 2 סוגי מקרים: אנשים שמרוויחים יחסית מעט והצליחו ליצבור הון גדול, מעל לשווי המחושב שאמור להיות להם. והסוג השני אנשים שמרוויחים יחסית המון ולא הצליחו ליצבור את ההון הזה.

המחבר נותן נוסחא לחישוב הערך השווי הנוכחי שאמור להיות לאדם (הכנסה ברוטו לפני מיסים ללא ירושות × גיל לחלק ל 10). כך אפשר לדעת אם האדם ע
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Dr. Stanley wrote The Millionaire Next Door and The Millionaire Mind. These books spent more than 170 weeks combined on the New York Times’ Best Sellers list. His Millionaire Women Next Door was selected as a finalist for the business book of the year by the Independent Publishers Association and was on several business best sellers lists. Dr. Stanley’s first three books, Marketing to the Affluent ...more
“Whatever your income, always live below your means.” 45 likes
“Good health, longevity, happiness, a loving family, self-reliance, fine friends … if you [have] five, you’re a rich man….” 34 likes
More quotes…