Is There a Millionaire Next Door

Good morning. Have you ever wondered if your neighbor is a millionaire? Well according to Dr. Thomas J Stanley who wrote the best seller The Millionaire Next Door, it is a definite possibility. Dr. Stanley studied the habits of wealthy people and surprisingly found that most people who are wealthy don’t display their wealth. According to him, people who buy expensive things are aspirational, meaning they want to be rich and they buy things to satisfy their idea of what being rich means. Through his research Dr. Stanley found that millionaires don’t live in expensive houses, or drive expensive cars. They don’t eat in expensive restaurants or buy fancy clothes. Take Warren Buffet for example. He is one of the richest person in the world, but he lives in the same house his parents had bought. He lives in Omaha, Nebraska and not in a million dollar penthouse apartment in New York city. He eats popcorn and watches movies for entertainment. What Dr. Stanley found out was that it is more important to keep what you earn rather than earning more. Just because someone earns more doesn’t mean they are rich. If their expenses are more than their earnings, what is the use. The millionaire next door is able to save money, have no debt and they believe in experiences rather than materialistic things. So the next time you see your neighbor driving an old car or wearing simple clothes, he might just besitting on a million dollars.