William Danko
The popular perception of millionaires -spendthrifts indulging in extravagant lifestyles-remained prevalent for a long time, until Millionaire was published. Based on years of research, William Danko demonstrated that millionaires don't behave this way at all; in fact, most reject big-spending lifestyles and live well below their means. Danko enumerates the behaviors he found were common to the millionaires he researched-and what you can learn from them. He is a much-sought after advisor on the behavior of the affluent and how to market to them, and in his presentation Danko provides numerous take-away examples of how wealth is created and retained, as well as the shrewdly successful ways to pass it down to your children.
The Millionaire Next Door was no overnight sensation. The two men went through the exhausting process of surveying and interviewing millionaires over a twenty year period. Thousands of such people received the team's surveys, the responses from which provided the raw data for their investigation. Among the major findings is the fact that the typical millionaire is not so different from-and indeed probably lives next door to-his or her less- wealthy neighbors. Eighty percent of millionaires, Danko and Stanley found, are self-made, and two-thirds are self-employed, often in blue-collar businesses that they own in fields such as construction, dry cleaning, and scrap metal. Millionaires-to-be tended not to be the best students back in high school, but often placed in the middle academic tier of students-"the smartest kids in the dumb row."
The popular perception of millionaires -spendthrifts indulging in extravagant lifestyles-remained prevalent for a long time, until Millionaire was published. Based on years of research, William Danko demonstrated that millionaires don't behave this way at all; in fact, most reject big-spending lifestyles and live well below their means. Danko enumerates the behaviors he found were common to the millionaires he researched-and what you can learn from them. He is a much-sought after advisor on the behavior of the affluent and how to market to them, and in his presentation Danko provides numerous take-away examples of how wealth is created and retained, as well as the shrewdly successful ways to pass it down to your children.
The Millionaire Next Door was no overnight sensation. The two men went through the exhausting process of surveying and interviewing millionaires over a twenty year period. Thousands of such people received the team's surveys, the responses from which provided the raw data for their investigation. Among the major findings is the fact that the typical millionaire is not so different from-and indeed probably lives next door to-his or her less- wealthy neighbors. Eighty percent of millionaires, Danko and Stanley found, are self-made, and two-thirds are self-employed, often in blue-collar businesses that they own in fields such as construction, dry cleaning, and scrap metal. Millionaires-to-be tended not to be the best students back in high school, but often placed in the middle academic tier of students-"the smartest kids in the dumb row."
