I am currently reading The Millionaire Next Door by Thomas J. Stanley and William D. Danko and am 88 pages into it. So far the book has been very slow. I wasn’t exactly sure what I was getting myself into when I chose this book. It was the only book I could find in my apartment so I didn’t take much time to preview the context of the book. Also, as I have stated before in past blogs, reading isn’t my favorite activity. I am finding it very hard to set aside time to finish the book because of how slow paced it is. Each time I sit down to read, I find myself not paying attention to what I’m reading and instead just going over the words without looking into any context. I have had to reread most of what I previously read in order to get a better grasp on the central message that Stanley and Danko are trying to pass to the reader.
Stanley and Danko studied how people became wealthy and the way wealthy people live for years. Through their studies, they have found that peoples common conception of a millionaire is different from the reality of them. They’re belief in accord to what makes a man rich is different than the general population. Most believe that one would be considered rich if he or she has an abundance of material possessions. Stanley and Danko argue against this. Stanley and Danko believe that the more appreciable assets one has, the richer they are. People who live high-consumption lifestyle’s are often viewed as rich by the public, but most have little to no investments. In order to obtain real wealth, Stanley and Danko argue that a more simple lifestyle leads to more applicable wealth rather than just materialistic items.
“Wealthy to them refers to people who have an abundance of material possessions. We define wealthy differently.”