Dr. Thomas J. Stanley began studying the affluent in 1973. His coauthored best-selling book, "The Millionaire Next Door," released in 1996, has sold 2,000,000 copies. Thomas followed his first book with "Marketing to the Affluent," ranked among the ten outstanding business books by the editors of "Best of Business Quarterly." In 1999, he published "The Millionaire Mind," which explored America's financial elite and how they became so. "The Millionaire Mind" has sold 750,000 copies. The author lives in Atlanta, holds a doctorate of business administration from the University of Georgia in Athens and was formerly a professor of marketing at Georgia State University.
In The Millionaire Next Door, read by Cotter Smith, Stanley (Marketing to the Affluent) and Danko (marketing, SUNY at Albany) summarize findings from their research into the key characteristics that explain how the elite club of millionaires have become "wealthy." Focusing on those with a net worth of at least $1 million, their surprising results reveal fundamental qualities of this group that are diametrically opposed to today's earn-and-consume culture, including living below their means, allocating funds efficiently in ways that build wealth, ignoring conspicuous consumption, being proficient in targeting marketing opportunities, and choosing the "right" occupation. It's evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck. In The Millionaire Mind, an excellent follow-up to the highly successful first analysis of how ordinary folks can accumulate wealth, Stanley interviews many more participants in a much more comprehensive study of the characteristics of those in this economic situation. The author structures these deeper details into categories that include the key success factors that define this group, the relationship of education to their success, their approach to balancing risk, how they located themselves in their work, their choice of spouse, how they live their daily lives, and the significant differences in the truth about this group vs. the misplaced image of high spenders. Narrator Smith's solid, dead-on reading never fails to heighten the importance of these principles that most twentysomethings should be forced to listen to in toto. Highly recommended for all public libraries. Dale Farris, Groves, TX Copyright 2001 Cahners Business Information.
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