"The Millionaire Next Door"

Paper Summary:

This paper is a brief book report which includes a summary of the topic of the book, a critical analysis, and a conclusion including the lessons learned and the effect the book has on people's minds. It shows how the authors give a detailed and in-depth account of American millionaires and how they acquired their wealth. The book provides a straightforward blueprint to improve one's financial circumstances, as well as secrets concerning millionaires in the United States.

From the Paper:

"When we think of American millionaires, we immediately think of those we see on Lifestyles of the Rich and Famous. Most of us believe them to be flamboyant characters who buy what they want and lead exciting lifestyles. However, that assumption is very wrong. It seems that the majority of millionaires are actually frugal bargain hunters and live relatively boring lives (Stanley 1998). In The Millionaire Next Door: The Surprising Secrets of America s Wealthy, Thomas Stanley and William Danko give a detailed and in-depth account of American millionaires and how they acquired their wealth. The book provides a straightforward blueprint to improve one s financial circumstances, as well as secrets concerning millionaires in the United States (Stanley 1998). The authors summarize their findings from research of the methods millionaires use to acquire their wealth."

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