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The Millionaire Next Door - Book Report/Review Example

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The author of this book review "The Millionaire Next Door" touches upon the contemporary book written by Thomas J. Stanley and William Danko. It is stated that the authors have surveyed the millionaires of America, including their lives and their careers…
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The Millionaire Next Door
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Download file to see previous pages These are meant to be examples to the young generation who can emulate their examples. About 50% of America’s millionaires have been found to be have been engaged in their own business ventures. Majority of this population were small-scale entrepreneurs who have become wealthy by leading a life of hard work and self-discipline. Therefore, the book also provides useful insights into the methods of owning and operating one’s own small-scale business.
According to Stanley and Danko, a millionaire is defined as an individual whose net wealth amounts to $ 1 million dollars and above. The authors have observed and analyzed the ways in which the affluent citizens of the USA have accumulated their wealth over the years. This forms the central idea of the book which has been further developed and enumerated in the successive chapters. The fundamental research for the book was initially conducted with the help of simple household surveys. Later corporate surveys on the wealthy American citizens have also contributed towards the research material of the authors. The authors have based their work on the information of this research and a plethora of statistical data and case studies. It also contains the profiles of the lives and careers of some of America’s millionaires. The examples of their lives are enumerated for the ambitious young readers to follow and emulate. There are numerous interesting observations noted in the work. Majority of the people have misplaced notions about wealth and the methods of acquiring it. Wealth is appropriately defined as a resource which is accumulated by individuals. Citizens can accumulate wealth by embodying “hard work, perseverance, planning and self-discipline” in their life led over a considerable period of time. (Stanley & Danko, 2) ...Download file to see next pagesRead More
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