The Millionaire Next Door Quotes

“Whatever your income, always live below your means.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“I am not impressed with what people own. But I’m impressed with what they achieve. I’m proud to be a physician. Always strive to be the best in your field…. Don’t chase money. If you are the best in your field, money will find you.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Good health, longevity, happiness, a loving family, self-reliance, fine friends … if you [have] five, you’re a rich man….”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Many people who live in expensive homes and drive luxury cars do not actually have much wealth. Then, we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighborhoods.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“It’s easier to accumulate wealth if you don’t live in a high-status neighborhood.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“One of the reasons that millionaires are economically successful is that they think differently.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“If your goal is to become financially secure, you’ll likely attain it…. But if your motive is to make money to spend money on the good life,… you’re never gonna make it.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“The foundation stone of wealth accumulation is defense, and this defense should be anchored by budgeting and planning.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Be tough … life is. In other words, there is no promise of a rose garden.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Money should never change one’s values…. Making money is only a report card. It’s a way to tell how you’re doing.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“If you’re not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your household’s total annual realized income.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Have you ever noticed those people whom you see jogging day after day? They are the ones who seem not to need to jog. But that’s why they are fit. Those who are wealthy work at staying financially fit. But those who are not financially fit do little to change their status.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“it matters less how much more you make than what you do with what you already have.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“To build wealth, minimize your realized (taxable) income and maximize your unrealized income (wealth/capital appreciation without a cash flow).”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“it is very difficult for a married couple to accumulate wealth if one is a spendthrift. A household divided in its financial orientation is unlikely to accumulate significant wealth.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Most people will never become wealthy in one generation if they are married to people who are wasteful. A couple cannot accumulate wealth if one of its members is a hyperconsumer.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Great offense and poor defense translate into under accumulation of wealth.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“How can well-educated, high-income people be so naive about money? Because being a well-educated, high-income earner does not automatically translate into financial independence. It takes planning and sacrificing.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“His view of millionaires is shared by most people who are not wealthy. They think millionaires own expensive clothes, watches, and other status artifacts. We have found this is not the case.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Wealth is not the same as income. If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“If you make a good income each year and spend it all, you are not getting wealthier. You are just living high. Wealth is what you accumulate, not what you spend.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Financially independent people are happier than those in their same income/age cohort who are not financially secure.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Allocating time and money in the pursuit of looking superior often has a predictable outcome: inferior economic achievement. What are three words that profile the affluent? FRUGAL FRUGAL FRUGAL”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“our youth are told that buying expensive items is normal behavior for affluent people. They are led to believe that the wealthy have a high-consumption lifestyle. They learn that hyperspending is the main reward for becoming affluent in America. Why”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“According to our most recent survey, the typical American millionaire reported that he (she) never spent more than $399 for a suit of clothing for himself or for anyone else.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“The “some college,” “four-year college graduate,” and “no college” types who have high incomes often had a head start on many well-educated workers.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“It’s amazing what you can do when you set your mind to it. You’ll be surprised how many sales calls you can make when you have no alternative except to succeed.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy

“Victor wants his children to become physicians, lawyers, accountants, executives, and so on. But in so encouraging them, Victor essentially discourages his children from becoming entrepreneurs. He unknowingly encourages them to postpone their entry into the labor market. And, of course, he encourages them to reject his lifestyle of thrift and a self-imposed environment of scarcity.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy