Millionaire Next Door – Book Summary

The authors spend over 20 years studying, researching, interviewing, and surveyed over 500 millionaires and 11,000 high-net-worth and high-income respondents on how people get wealthy. By doing so they discovered who the wealthy are and who they are not. 

This book will help most people who are living paycheck to paycheck and want to achieve financial freedom.

Millionaires in this book are ordinary people, financially independent, and can maintain their current lifestyle for years without monthly pay. They have accumulated their wealth slowly, steadily, without lottery or windfall in their journey.

Their research showed that the majority of people who live in expensive homes, and drive expensive cars do not have much wealth. Most wealthy people don’t live and drive expensively. 

Having a high income is not synonymous to wealth. To earn more to spend lavishly does not make you wealthy, it makes you a higher living person, you one might look wealthy but you are dead broke like a church rat.

Wealthy is simply what you accumulate and not what you spend.

To be wealthy one must embrace the lifestyle of hard work, perseverance, planning, and self-discipline.

A wealthy person as the authors explain is a person who owns a business and still live in the same neighborhood all of his adult life or one who owns a factory, stores or companies, married only once and remain married. Lives next door to people with a fraction of his/her wealth. Those individuals are compulsive savers and investors.