Book of the Month - The Millionaire Next Door

FACTS Book of the Month is, “The Millionaire Next Door—The Surprising Secrets of America’s Wealthy”, co-authored by financial doctor’s Thomas J. Stanley and William D. Danko. While this book was written over a decade ago the doctor duo helps people to understand the misconceptions of the top 3.5 percent(1996) of the wealthiest people in this country. Through their research they show that “first generation” “self-made” millionaires are more likely to pass on generational wealth than those who inherit it. The authors also debunk the notion that those who have wealth display it. In other words, your neighbor who is driving that luxury car you so avidly admire most likely makes less than you.

They also use the conceptual formula’s of Prodigious Accumulator of Wealth(PAW) and Under Accumulator of Wealth(UAW) to show the difference between those who are maximizing their income and those who are not, respectively. For example, just because someone makes more money than you does not mean that they are making the most out of their income. This book has even changed our spending habits and FACTS is confident that it will make you change yours. This book is a must read for everyone and we promise that everything you think you know about millionaires are most likely false. Know the FACTS!