The Millionaire Next Door

The Millionaire Next Door is a best seller from the 90's that is often-cited in personal finance literature. Some of the data is out-dated but many of the principles still stand. The book reveals that many of America’s millionaires are actually everyday people living frugal lifestyles, often in modest homes and driving unassuming cars. The authors debunk the myth that most millionaires inherit their wealth, instead showing that self-made millionaires typically accumulate their riches over time through diligent saving, investing, and avoiding consumer debt. The book emphasizes the importance of living below one’s means and making smart financial decisions to build long-term wealth.