The Next Millionaire Next Door

Enduring Strategies for Building Wealth

By: Sarah Stanley Fallaw, Thomas J. Stanley

Narrated by: Stephen Wojtas

Length: 7 hrs and 11 mins

Publisher's Summary

Over the past 40 years, Tom Stanley and his daughter Sarah Stanley Fallaw have been involved in research examining how self-made, economically successful Americans became that way. 

Despite the publication of The Millionaire Next Door, The Millionaire Mind, and others, myths about wealth in America still abound. Government officials, journalists, and many Americans still tend to confuse income with wealth. A new generation of household financial managers are hearing from so-called experts in personal financial management due to the proliferation of the cottage industry of financial blogs, podcasts, and the like. In many cases, these outlets are simply experiences shared without science and case studies without data based on broader populations. Therefore, the authors decided to take another look at millionaires in the United States to examine what changes could be seen 20 years after the original publication of The Millionaire Next Door.

In this audiobook, the authors highlight how specific decisions, behaviors, and characteristics align with the discipline of wealth building, covering areas such as consumption, budgeting, careers, investing, and financial management in general. They include results from quantitative studies of wealth as well as case studies of individuals who have been successful in building wealth. They discuss general paths to building wealth on your own, focusing specifically on careers and lifestyles associated with each path, and what it takes to be successful in each.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio. 

©2018 Affluent Market Institute, Ltd. and Sarah Stanley Fallaw, PhD (P)2019 Affluent Market Institute, Ltd. and Sarah Stanley Fallaw, PhD

Not Much New

I really enjoyed the Original Millionaire next door so I thought that this would be a good next book. Fortunately for readers of the original, many of the core principles in the original book haven't changed. However, that makes for a pretty uneventful read of this follow up title.

Beyond the lack of much new content I also felt like this book had a lot more generalizations and less actual numbers. Certainly there were statistics but they didn't seem to be in the same concentration as the original.

If you are interested in this book and have read the original then my advice would be to find something different.

Just read the original

This book could be summed up in one sentence: "all of our original findings from 1996 still hold true today". Yet somehow, they made an entire book of it.

Impactful, practical, obtainable!

The narrator, in the end, ended up being very encouraging to my journey to wealth.

Worthwhile follow up to a must read original

A nice follow up, but could probably be summarized as: the majority of data outlined in the original generally still holds true in the 2010’s. Many example characters used to outline the same general personal finance concepts. Nevertheless, after reading the original version I had been wondering what a modern view of the data would show, so as I said, worthwhile.

So important to be financially literate.

I wish everyone could be more savvy with their finances and building wealth, wouldn’t have to rely so much on handouts and be enslaved to perpetual debt.

definitely appreciate this book

loved it! the best book on financial wisdom I've read recently with the facts being in your face the whole way through. wish I could be glittering rich but you gotta start somewhere!!!

Very much like the original

This is a great sequel to the first book that I read over 20 years ago. Based on what is outlined in the book we are now members of the millionaires next door. I encourage everyone to read or listen to these books.
The books are easy to listen to and understand. Investing is a journey that brings you to the destinations the millionaire next-door books teach you how to travel the journey.

Good even if a bit redundant at times

Good. Principles are solid but sometimes seem a bit redundant. Overall great book. Especially if someone is looking for behaviors to emulate those that have made and kept substantial wealth.

Motivational

I enjoy reading Thomas J Stanley’s work along with Ramsey Solution Authors. It helps keep you on track to reach your personal goals with the ultimate goal of being Financially independent. No gimmicks or quick fixes just the repeated Mantra “slow and steady wins.”

Great story but should include their behavior

Read the whole book all the way, it's good and learned a lot about it, but needs to get successful people such as interviewing Bill Gates and Warren Buffett. Also should describe the in-depth behaviors that cause successful people to become millionaires to become rich. Information about constantly exercise for 30 minutes 3-4 days a week, maintaining a good/close relationship with positive people, etc should be included.

A good sequel

to "The Millionaire Next Door"

Updates some data from the previous book. Corrects misunderstanding of the previous book.

And most importantly:
- brings the new technologies into play - e-commerce, internet business
- shows its effect on the millionaire community
- presents what has perished and what persisted in terms of rules of becoming a millionaire over the last 4 decades.

(Hint: most rules still apply)