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The Millionaire Next Door Audiobook

The Millionaire Next Door: The Surprising Secrets of America's Rich

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Publisher's Summary

Who are the rich in this country? What do they do? How do they invest? How did they get rich? Can you ever become one of them? Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised by what you find out.

©2000 Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D.; (P)2000 Simon & Schuster, Inc., All Rights Reserved, SOUND IDEAS is an Imprint of Simon & Schuster Audio Division, Simon & Schuster Inc.

What the Critics Say

"The implication of The Millionaire Next Door is that nearly anybody with a steady job can amass a tidy fortune." (Forbes)

What Members Say

Average Customer Rating

4.4 (4293 )
5 star
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4.4 (2874 )
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4.5 (2888 )
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Performance
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  •  
    Rick 10-24-15
    Rick 10-24-15
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    1
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    Story
    "Nothin' but facts"
    This book wasn’t for you, but who do you think might enjoy it more?

    It's so riddled with facts that I couldn't even listen anymore. If you're looking for advice on how to play it safe with your money to earn the title of "millionaire" then this book is for you. Don't waste your time or money on this book if you want to make millions. If you know anything about accounting, you know that profit = income > expenses. I'd rather be a multi-millionaire and live like a millionaire than be a millionaire and live like a middle class chump.


    0 of 0 people found this review helpful
  •  
    Cynthia 10-03-15
    Cynthia 10-03-15
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    5
    2
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    Story
    "Little outdated, but the principles hold true"

    This book was written 20+years ago, but you can still learn plenty from the principles presented in it.
    I resolve not to be a consumer who wastes away my chance at true wealth and security.

    0 of 0 people found this review helpful
  •  
    Vishal Amin 10-03-15
    Vishal Amin 10-03-15
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    2
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    Story
    "Great foundation for personal finance"

    I really enjoyed this book, as a younger person who makes it well so far and am just getting familiar with personal finance, this really helps orient me to the basic psychology of wealth building and the paths one could take through the journey. it is good foundational knowledge I can use as a litmus as I become more engulfed in the world of personal finance.

    0 of 0 people found this review helpful
  •  
    Joseph H. Torrez Sr 09-29-15
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    "There are those who understand, and those who don't."

    Great book, the truth of the affluent. Wise men learn from the success and failures of others.

    0 of 0 people found this review helpful
  •  
    Sally Sue 09-24-15
    Sally Sue 09-24-15
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    "Fairly informative book"

    It had some good info, but quite a bit seemed common sense. Some of the info is definitely outdated also. Good for someone who isn't already frugal.

    0 of 0 people found this review helpful
  •  
    Ben Crouch 09-19-15
    Ben Crouch 09-19-15 Member Since 2015
    HELPFUL VOTES
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    "A little dated but priceless concepts"

    Loved it and intend to gift it to several loved ones! I wish there were an updated version using more contemporary statistics.

    0 of 0 people found this review helpful
  •  
    Wilman Ortega, M.D. USA 09-09-15 Member Since 2014
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    "The Best book on personal finance"
    If you could sum up The Millionaire Next Door in three words, what would they be?

    Read early in life


    What did you like best about this story?

    Illuminating from beginning to end, best financial advice for anyone!


    What did you learn from The Millionaire Next Door that you would use in your daily life?

    Be frugal, save, invest wisely


    0 of 0 people found this review helpful
  •  
    Brad Lohnes Hamilton, New Zealand 08-29-15
    Brad Lohnes Hamilton, New Zealand 08-29-15
    HELPFUL VOTES
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    "Interesting Insight Delivered by Top Narrator"
    If you could sum up The Millionaire Next Door in three words, what would they be?

    Wealth = Offense + Defense


    What was one of the most memorable moments of The Millionaire Next Door?

    Gaining insights that suggest how real wealthy people behave, as opposed to the rubbish presented in media.


    What about Cotter Smith’s performance did you like?

    Cotter Smith is a rock star. I wish all audio books were performed by Cotter Smith. Purchasing Thomas Stanley's next book, The Millionaire Mind, was largely influenced by the fact that Cotter Smith was once again the narrator.


    What insight do you think you’ll apply from The Millionaire Next Door?

    Average Accumulation of Wealth (AAW) = (age/10) * annual income
    Prodigious Accumulation of Wealth (PAW) = 2 * AAW
    Under Accumulation of Wealth (UAW) = 1/2 * AAW


    Any additional comments?

    This book is not a strategy or "how to" like many other books in the genre, like Rich Dad, Poor Dad or Total Money Makeover. But it provides a different point of view - a statistical point of view - as to the habits and priorities of wealthy people.

    0 of 0 people found this review helpful
  •  
    Ben 08-17-15
    Ben 08-17-15 Member Since 2015
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    "MUST READ"

    good info! lots of stats and stories that all seem to say the same thing! just get the abridged version.

    0 of 0 people found this review helpful
  •  
    Pampier 08-13-15
    Pampier 08-13-15
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    "Stunner!"

    Truth being revealed - superb! Enjoyed every minute of it. One to keep and share widely.

    0 of 0 people found this review helpful
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  • Michael
    Manchester, United Kingdom
    12/23/12
    Overall
    "Makes money sense"

    Sobering read in todays instant gratification world. The chapters in this book will shift most peoples paradigms on wealth and its accumulation. The book provides a sages worth of attitude changing insights into why individuals need to be more conscious of money management. It indirectly also provides hope that with the right money and investment attitude, regardless of the level of current income, one can make steady progress towards a significantly improved financial position over the long run.

    7 of 8 people found this review helpful
  • Mohammed
    LEICESTER, United Kingdom
    12/29/11
    Overall
    "Briliant."

    Fantastic this book has changed my life. This book is also recomended to me by Brian Tracy

    6 of 7 people found this review helpful
  • clive
    4/24/16
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    "Spend 8 hours now to save 8 years work( or more ! )"

    A must listen book about personal finance . Much of today's personal finance writing has been inspired by the findings from the studies discussed in this publication . Everyone will learn something about personal finances and importantly themselves in the stories told in The Millionare Next Door .

    1 of 1 people found this review helpful
  • Judy Corstjens
    9/25/16
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    Performance
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    "A fascinating analysis of a rather niche topic"

    The two authors have done vast amounts of thoughtful research into the spending patterns of affluent Americans, and the book often sounds like a market research report. This does not mean that it is not a fascinating piece of work, though I imagine it will not appeal to everyone. Thomas Stanley and William Danko set out a clear definition and analysis of what wealthy means, in their eyes. Their ‘wealth equation’ - age*gross annual income /10 - allows the authors to calculate an 'expected net worth' for individuals and thus determine whether a person is an accumulator (net worth > than estimate) or a spender (net worth < than estimate). They then compare the extremes, 'Prodigious Accumulators of Wealth' (PAWs) with ‘Under Accumulators of Wealth' (UAWs). This is in itself and insight. The key to being ‘rich’ (under their definition) is to live substantially below your means. In their world, PAWs are rich (even if they only have a net worth of $400k) and UAWs are poor even if they live the high life, subsidised by their parents or credit. This is actually more philosophical than financial – frugal PAWs feel financially secure and have the confidence that comes from being 'self-made', spendthrift UAWs worry about money and their old age. It’s very Mr Micawber: spend 19 pounds, 19 shillings and six pence, result happiness (though Micawber’s formula implies a surplus of 1/40 or 2.5%, S&D suggest you should aim for 10% or more). Stanley and Danko have also observed and then thought deeply about how the financial attitudes and behaviors of parents impact on their children. Many PAWs get it right by instilling the correct values of frugality and independence in their children. They help them with education and perhaps a house purchase or business investment, but they do not push cash gifts on their adult children. Unwise PAW parents use their wealth to cosset and/or control their children, while UAWs instill their spendthrift ways in their own offspring. Americans seem to think and talk more freely about money than we do in the UK, and the book is very US orientated, but I found it really useful to help me position myself in this domain. Obviously, the ideal is some Aristotelian virtuous median, to be neither a tight-wad, nor a spendthrift. This book will have a permanent impact on the way I handle the transfer of wealth to my own kids; I am going to spend more on myself (and my hardworking frugal husband) convinced that their independence is more valuable to our children than free cash.

    0 of 0 people found this review helpful
  • shane
    8/23/16
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    "eye opener "

    showed me different outlook on wealth really good book very educational i would highly recommend

    0 of 0 people found this review helpful
  • Bernice
    United Kingdom
    6/21/16
    Overall
    Performance
    Story
    "Very Different!"

    I have listened to many wealth books and found this one quite different and very, very interesting. For example there was a section about how children of the wealthy can be inspired to be independent rather than just spend their parents' money. There was also insightful information about inheritance. Although the book is American and a little old now, I believe these principles still hold.

    I did not expected to enjoy this book, but I did. I could not believe when the audiobook came to an end, I was so engaged.

    I would very much recommend this book. I would say a must for parents who have adult children they are supporting, or those considering how to pass on their wealth to their offspring in the future.

    Recommended.

    0 of 0 people found this review helpful
  • Adegboyega
    4/19/16
    Overall
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    Story
    "Nice read, no regrets."

    It is a book that makes sense though some things were overemphasised but was necessary. The points were clear and reasonable.

    0 of 0 people found this review helpful
  • platitude
    3/23/16
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    Performance
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    "It all adds up."

    Short but alot packed into it. worth listening to a few times.
    very clear message it blows alot of the myth out of the sky.

    0 of 0 people found this review helpful
  • cedric
    3/1/16
    Overall
    Performance
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    "Very insightful!"

    So contrary to the public perceived image of how most millionaires are made or live

    0 of 0 people found this review helpful
  • Amazon Customer
    1/29/16
    Overall
    Performance
    Story
    "Very interesting and revealing."

    Can be quite stat heavy (which was great for me but might overwhelm some).
    Interesting and revealing makes you consider your own consumption habit and what if any, legacy you will leave behind.

    0 of 0 people found this review helpful

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