This wealthy person lives in a regular middle-class or lower-middle-class neighborhood.Īccording to statistics backing the book, “more than 80% are ordinary people who have accumulated their wealth in one generation.”Īnd the most important factor in building that wealth has been what’s called underconsumption.Īre you living in the most expensive home you can afford? Are you driving the nicest car you can afford? If so, even if you’re earning a lot of money, there’s a good chance you are what the authors call a UAW, or “under accumulator of wealth.” Homes and cars are two of the main items that can keep you from accumulating wealth, but there are many others, of course. There’s no fancy car, no $5,000 watch, no McMansion. He or she makes no ostentatious display of wealth. The book defines the “millionaire next door” as someone who doesn’t look the part. Even though the book was written before the credit crisis, its ideas are current. The book, which I just finished, was first published in 1996, but Stanley wrote a long preface for the 2010 edition. Read 8 secrets for success from early retirees.Īmong several thoughtful Father’s Day presents from beloved family members was the book “ The Millionaire Next Door” by Thomas J. As a result, you’ll need to begin planning early and have a realistic understanding of what it means to be financially secure.