The Making of Millionaires: Book Insights on The Millionaire Next Door by Thomas J Stanley & William S Danko

*Based on in-depth interviews with more than 500 American millionaires, plus over a thousand surveys made up of more than 200 questions, The Millionaire Next Door yields some surprising findings.  *Even its authors, business academics Thomas Stanley and William Danko, were taken aback to discover that the majority of millionaires weren’t holed up in luxurious mansions surrounded by extravagant purchases.  *The pair investigated not just your common-or-garden variety of millionaire (who are increasingly common), but ‘decamillionaires’, those whose net worth exceeds $10 million.  *They identified seven common traits that show up again and again among the super-wealthy. Many live modestly, right next door rather than in Beverly Hills or on Park Avenue, they work hard and they save assiduously.  *The conclusion that the authors ultimately draw is that consumption and opulence pale in comparison to the peace of mind that comes from fulfilling work and the discipline of slowly building up a nest egg over time. Theme 1: Finding Millionaires - 0:29 Theme 2: Wealth Defined & Work Habits - 8:42 Like what you hear? Be sure to like & subscribe to support this podcast! Also leave a comment and let us know your thoughts on the episode. You can also get a free weekly email about the Book Insight of the week. Subscribe at memod.com/insights Want quick save-able, share-able bullet points on this book? Check out the Memo: https://memod.com/MrBusiness/millionaires-share-these-key-qualities-do-you-have-them-117 THANK YOU FOR LISTENING TO BOOK INSIGHTS. READY FOR MORE LEARNING? Get unlimited access to our entire collection of Book Insights on over 100 nonfiction bestsellers with a subscription at http://memod.com/insights Full Title: The Millionaire Next Door: The Surprising Secrets of America's Rich Year of Publication: 1996 Book Author: Thomas J Stanley & William S Danko To purchase the complete edition of this book click here: https://smile.amazon.com/dp/B0000547HR/ref=cm_sw_em_r_mt_dp_8W5Y1TVNSWG01C50GEG3 Book Insight Writer: Tom Butler-Bowdon Editor: Tom Butler-Bowdon  Producer: Gabe Mara  Production Manager: Karin Richey  Curator: Tom Butler-Bowden  Narrator: Michael Khachanov