CLASSIFICATION_METADATA
{"IsNonfiction":["Yes"],"IsOther":["No"],"IsAdult":["No"],"MuzeFormatDesc":["Hardcover"],"IsChildren":["No"],"Genre":["SOCIAL SCIENCE","BUSINESS & ECONOMICS"],"Topic":["Social Classes & Economic Disparity","General","Personal Finance / General","Economics / General","Finance / General","Budgeting"],"IsTextBook":["No"],"IsFiction":["No"]}
Synopsis
Over the past 40 years, Tom Stanley and his daughter Sarah Stanley Fallaw have been involved in research examining how self-made, economically successful Americans became that way. Despite the publication of The Millionaire Next Door, The Millionaire Mind, and others, myths about wealth in American still abound. Government officials, journalists, ......, What does it take to become wealthy today? The simple and yet challenging answer is: the consistent exercise of certain behaviors that have been shown to relate to financial success. Millionaires continue to demonstrate a disciplined approach to their finances, allowing them, over time, to transform income into wealth. In The Next Millionaire Next Door, Dr Thomas J. Stanley and Dr Sarah Stanley Fallaw provide data-backed insights into what it takes to become the millionaire next door today, including: Identifying and ignoring the myths about wealth and income, Understanding how those around you influence your financial behaviors, Living below your means, Identifying and developing your own behaviors that are conducive to building wealth, Finding careers and opportunities that allow for both economic and lifestyle-related freedom, Gaining knowledge and composure to invest and grow wealth Book jacket., Over the past 40 years, Tom Stanley and his daughter Sarah Stanley Fallaw have been involved in research examining how self-made, economically successful Americans became that way. Despite the publication of The Millionaire Next Door, The Millionaire Mind, and others, myths about wealth in American still abound. Government officials, journalists, and many American still tend to confuse income with wealth. A new generation of household financial managers are hearing from so-called experts in personal financial management due to the proliferation of the cottage industry of financial blogs, podcasts, and the like. In many cases, these outlets are simply experiences shared without science, case studies without data based on broader populations. Therefore, the authors decided to take another look at millionaires in the United States to examine what changes could be seen 20 years after the original publication of The Millionaire Next Door. In this book the authors highlight how specific decisions, behaviors, and characteristics align with the discipline of wealth building, covering areas such as consumption, budgeting, careers, investing, and financial management in general. They include results from quantitative studies of wealth as well as case studies of individuals who have been successful in building wealth. They discuss general paths to building wealth on your own, focusing specifically on careers and lifestyles associated with each path, and what it takes to be successful in each.
