The Millionaire Next Door
1996 book by Thomas J. Stanley and William D. Danko / From Wikipedia, the free encyclopedia
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The Millionaire Next Door: The Surprising Secrets of America's Wealthy (ISBN 0-671-01520-6) is a 1996 book by Thomas J. Stanley and William D. Danko. The book is a compilation of research done by the two authors in the profiles of American millionaires.
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Author | Thomas J. Stanley and William D. Danko |
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Country | United States |
Language | English |
Genre | |
Publisher | Gallery Books |
Publication date | 1998 |
Media type | Print (hardcover) |
Pages | 258 pp. |
ISBN | 9780671015206 |
OCLC | 1002081460 |
338.0973 | |
LC Class | HG181 .B836 1969 |
The authors compare the behaviour of those they call "UAWs" (Under Accumulators of Wealth) and those who are "PAWs" (Prodigious Accumulators of Wealth). Their findings, that millionaires are disproportionately clustered in middle-class and blue-collar neighborhoods and not in more affluent or white-collar communities, came as a surprise to the authors who anticipated the contrary. Stanley and Danko's book explains why, noting that high-income white-collar professionals are more likely to devote their income to luxury goods or status items, thus neglecting savings and investments.