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In fact, you will learn that the flashy millionaires glamorized in the media represent only a tiny minority of America's rich. You will learn, for example, that millionaires bargain shop for used cars, pay a tiny fraction of their wealth in income tax, raise children who are often unaware of their family's wealth until they are adults, and, above all, reject the big-spending lifestyles most of us associate with rich people. The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Danko Who is this book for People who want to become wealthy Millionaires struggling to hold on to their cash Social scientists studying the habits of affluent people Find out how wrong you are about the way millionaires live. Wealth in America is more often the result of hard work, diligent savings, and living below your means than it is about inheritance, advance degrees, and even intelligence. The Surprising Secrets of America’s Wealthy - The Millionaire Next Door by Thomas J. According to the authors, most people have it all wrong about how you become wealthy in America. On average their homes have a market value of approximately 1.4M (or about 2.5 times the original purchase price 12 years earlier). The millionaires (733) in the book represent a fraction of the top 1 of wealth in America. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a new foreword for the twenty-first century. The Millionaire Mind contains a chapter entitled The Home. 'It’s easier to accumulate wealth if you don’t live in a high-status neighborhood.'. Often they are hard-working, well educated middle- to high-income people. 'Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.' - Thomas J. In fact, sometimes they're the least likely person you would suspect. They don't have a new car every year or jet around the world. "Why aren't I as wealthy as I should be?" Many people ask this question of themselves all the time. Economist Nassim Nicholas Taleb noticed, in his own book, Fooled by Randomness, that the picture painted by The Millionaire Next Door was the product of survivor bias - the authors. Thomas Stanley and William Danko's book 'The Millionaire Next Door' revealed that most millionaires really could be the folks next door.