Throughout the book, the authors use two acronyms: PWA (Prodigious Wealth Accumulators) and WSA (Wealth Sub-Accumulators). Lastly, they spend less than they earn and invest that difference. In addition, they plan all their purchases very well, trying to get discounts and promotions. The first point made is about budgeting and controlling expenditures, and its objectives are to minimize your revenue and maximize your unrealized income, that is, to value your wealth. Still, during the survey data, the authors concluded that most millionaires have an annual income of less than 7% of their wealth.
T hey have a totally simple life: they don't pay dearly for clothes and accessories, they don't have luxury cars and they don't live in mansions. The authors begin with the following question: Why are a few people rich? According to them, many even receive a rich digit income, but spend all their money, besides living in debt, all because they want to display their valuable material goods. Overview: "They live far below their means"
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The content of the book is ideal for you who are curious about millionaires, want to learn financial lessons to become rich er and really understand who a millionaire is and how a millionaire act. In addition, he is Stanley's assistant in studies of the rich since 1973. Danko is a professor of marketing at New York University and has had major publications in leading magazines. He has extensive marketing experience and is also the author of the book “Marketing to the Affluent”. Stanley is a lecturer, writer, and researcher. In addition, case studies on them are presented.Ībout the authors Thomas Stanley and William Danko
With this analysis, the authors discovered the 7 common secrets that millionaires have. Published in 1996, the book "The Millionaire Next Door" by Thomas Stanley and William Danko seeks to present the key secrets about American millionaires and how they got rich.Īll content is based on over 20 years of research, interviews, and data on what millionaires are like and how they live.
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Do you know how to recognize a millionaire? So you must have already imagined that these people's lives are full of luxurious cars, mansions and jewelry, right? Wrong! In “ The Millionaire Next Door ” authors Thomas Stanley and William Danko teaches how true millionaires live and what their secrets are.įor this reason, we have gathered, in this PocketBook4You, the main characteristics of this book so that you can apply them in your daily life, and, who knows, maybe not become the next millionaire.Ībout the book “The Millionaire Next Door”
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