In fact, we show that inheritors spend more than earners for housing, cars, clothing, jewelry, and a wide variety of other consumables. This is especially true given that the majority of the affluent are first generation wealthy. The reality is that frugality as a way of life is important if mere mortals – which describes most of us – are to become wealthy.
![millionaire next door author millionaire next door author](https://i.pinimg.com/originals/04/ad/15/04ad150222d8b713d0c432450401b696.png)
Millionaire next door author professional#
After-all, Hollywood stars and professional athletes are fun to portray with their outsize lifestyles.
![millionaire next door author millionaire next door author](https://images-na.ssl-images-amazon.com/images/I/51XZ5SDTXYL._SY291_BO1,204,203,200_QL40_.jpg)
The media make it appear that the wealthy are profligate with their money. What is the most surprising discovery you made when researching and co-authoring The Millionaire Next Door? Armed with this knowledge and shared connection I reached out to Professor Danko and a dialog began. To my surprise, both of the books' authors had passed through my graduate school Alma mater - The State University of New York at Albany (SUNY Albany). I became curious about the authors of the book. The genesis of this interview came after I reread The Millionaire Next Door in 2018, in part because of a blog post I was writing. In Bill’s latest book, Richer Than A Millionaire ~ A Pathway To True Prosperity, he advances many of the original themes and addresses the broader question of what it really means to be rich in our lives, beyond just our wealth. The Millionaire Next Door resonated with me to such a degree that I have internalized much of its wisdom and applied its teachings to both my personal and professional lives. The book's central message is that those who are actually rich are not the ones who appear rich with flashy displays of wealth, but rather they are the hard working, frugal and humble ones who you’d never expect to be rich in the first place. Bill was incredibly gracious with his time, energy, and wisdom in answering my questions regarding both books.Īs many of my clients know, I consider The Millionaire Next Door to be one of the greatest books on personal finance ever written.
![millionaire next door author millionaire next door author](https://d1w7fb2mkkr3kw.cloudfront.net/assets/images/book/lrg/9781/5407/9781540790323.jpg)
In 2017 Bill published his latest book: Richer Than a Millionaire ~ A Pathway To True Prosperity, along with Co-Author Richard J. Bill co-authored The Millionaire Next Door in 1996 along with the late Thomas J. Recently, I had the opportunity to interview William Danko, Ph.D.