The Millionaire Next Door  - Summarized for Busy People - Goldmine Reads - ebook

This book summary and analysis was created for individuals who want to extract the essential contents and are too busy to go through the full version. This book is not intended to replace the original book. Instead, we highly encourage you to buy the full version. When you think of wealthy people, you would think that they are the ones who live in rich neighborhoods like Beverly Hills or Park Avenue. The truth is, they live right next door. The truly wealthy people in America don’t always get their money through inheritance or high degrees. They are actually the ones who don’t live an expensive lifestyle and choose, instead, to bargain-shop for used cars and raise their children without the knowledge of their wealth until they are old enough. In reality, those who live expensive lifestyles are often the ones who can’t afford it. And the truly wealthy behave differently than you would expect. The Millionaire Next Door, first published in 1996, became a revolutionary and even controversial view of America’s richest sharing their attitudes, beliefs, and qualities that are similar among them. This new edition of the book updates the original content in the context of the 21st century. Wait no more, take action and get this book now!

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Summarized For Busy People

Based on the Book by Thomas J. Stanley, Ph.D.

Goldmine Reads

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Chapter 1: Meet the Millionaire Next Door

Chapter 2: Frugal, Frugal, Frugal

Chapter 3: Time, Energy, and Money

Chapter 4: You Aren’t What You Drive

Chapter 5: Economic Outpatient Care

Chapter 6: Affirmative Action, Family Style

Chapter 7: Find Your Niche

Attorneys Who Specialize

Medical and Dental Care Specialists

Asset Liquidators, Facilitators, and Appraisers

Educational Institutions and Professionals

Other Specialists

Chapter 8: Jobs: Millionaires versus Heirs


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When we think of millionaires, our mind immediately goes to all the luxuries and riches that they have—living an extremely comfortable life in their mansions of a home. But, as you go through the pages of this book, the reality of how the truly wealthy will unravel before your eyes. The Millionaire Next Door by Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D. will be the catalyst for you to see wealth from a different lens. Which can be the beginning of showing how you can attain real wealth as well.

Here is the summary of the chapters within the book:

Chapter 1: Meet the Millionaire Next Door. This chapter will talk about what a real millionaire looks like. The truly wealthy individuals are not like the ones that you would see in movies; they are, in fact, living simple lives. And they have learned things which greatly helped them get to where they are now.

Chapter 2: Frugal, Frugal, Frugal. Because the truly wealthy individuals know how to attain more wealth, they also know how to keep it. This chapter shows their behaviors in spending and, ultimately, sharing the components of what it means to keep your wealth.

Chapter 3: Time, Energy, and Money. We all have limited resources when it comes to time and energy—wealthy individuals make sure to use this in order to live better lives.

Chapter 4: You Aren’t What You Drive. When it comes to cars and other material possessions, the truly rich see the importance of choosing their cars and from where they buy them. The chapter shares what cars they usually go for and how much they usually spend on their cars.

Chapter 5: Economic Outpatient Care. There is such a thing as Economic Outpatient Care or EOC and it talks about the relationship between parents and children when it comes to financial and emotional support.

Chapter 6: Affirmative Action, Family Style. Because of the amount of wealth affluent parents have, they have a specific way in order to choose who receives their inheritance. The chapter will delve into how receiving a certain amount of money from affluent parents can affect how their children grow up. It is the parents’ responsibility to make sure that their children grow up to be financially literate and independent.

Chapter 7: Find Your Niche. There are different ways in order to attain wealth and these are through different businesses and/or professions. That’s why it’s important to always look at the statistical data when it comes to finding careers that are profitable.

Chapter 8: Jobs: Millionaires versus Heirs. For every generation of millionaires, there are differences in lifestyles and it’s exactly why it’s important to understand why people who own businesses want their kids to study law or medicine instead of succeeding their business.

When you finally finish reading the book, you will have learned all the misnomers when it comes to how the truly wealthy lives. And when we say truly wealthy, it simply is not by the lifestyle—you will find that there is a big difference between the truly wealthy and those who simply live a wealthy lifestyle. Income is never the basis of how rich you are because some high-income earners actually spend as fast as they earn their money.

Becoming wealthy does not mean you have to be born into it or have capabilities that a normal person would not have. According to research, becoming wealthy is entirely dependent upon your lifestyle, how hard you work, and how well you discipline yourself. Try to analyze how you manage your money: do you spend it as soon as money comes into your pocket or do you use it to increase your assets in order to make money work for you? Think about your habits involving money and understand what keeps you from increasing your wealth potential.