The Millionaire Next Door by Stanley

Ref: Stanley & Danko (2010). The Millionaire Next Door. Taylor Trade Publishing.

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Summary­

• The Basics of Personal Finance and how a few important decisions can, over time, generate millions in wealth. 

• Not at any time during the past thirty years have I found that the typical millionaire had more than 30 percent of his wealth invested in publicly traded stocks. On average they had 2.5x more of their wealth invested in real estate than in their own personal homes.

• The advertising industry and Hollywood have done a wonderful job conditioning us to believe that wealth and hyper-consumption go hand in hand.

• Over the past thirty years I have consistently found that 80 to 85% of millionaires are self-made.

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