The Millionaire Next Door (Millionaire Set Book 2)

by Thomas J. Stanley

Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.

They live well below their means. They allocate their time, energy, and money efficiently, in ways conducive to building wealth. They believe that financial independence is more important than displaying high social status. Their parents did not provide economic outpatient care. Their adult children are economically self-sufficient. They are proficient in targeting market opportunities. They chose the right occupation.

What have we discovered in all of our research? Mainly, that building wealth takes discipline, sacrifice, and hard work.

As a group, we are fairly well educated. Only about one in five are not college graduates. Many of us hold advanced degrees. Eighteen percent have master’s degrees, 8 percent law degrees, 6 percent medical degrees, and 6 percent Ph.D.s.

Why would someone who is a millionaire need to budget? Our answer is always the same: They became millionaires by budgeting and controlling expenses, and they maintain their affluent status the same way.