In his first best-seller, Dr. Thomas J. Stanley shattered one of contemporary America's most firmly held myths: That wealthy individuals belong to an elite group of the highly educated and exceedingly lucky who often inherit their money and spend it on lavish purchases and pampered lifestyles. In fact, a significant number of America's wealthy are far more likely to work hard, save diligently, and live well below their means. As the title of Stanley's 1996 best-selling book stated, they are The Millionaire Next Door. Now, Dr. Stanley takes us even further with a new, ground-breaking study of America's wealthy. In THE MILLIONAIRE MIND he targets a different segment of the population and those who have accumulated substantial wealth and live in ways that openly demonstrate their affluence. Exploring the ideas, beliefs and behaviors that enabled these millionaires to build and maintain their fortunes, Dr. Stanley provides a fascinating look at who America's financial elite are and how they got there. What were their school days like? How did they respond to negative criticism? What are the characteristics of the millionaire's spouse? Is religion an important part of their lives? The author uncovers the surprising answers to these and similar questions, showing readers through concrete examples just what it is that makes the wealthy prosper when others would turn away dejected or beaten. The Millionaire Mind promises to be as transformational as Dr. Stanley's previous best- seller. This book answers universal questions with solid statistical evidence in an approachable, and anecdotal style. The number of copies sold of this soon-to-be-classic will surely be inæthe millions.

BusinessWeek's 2000 Best Sellers

The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Danko William D.
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by Eker, T. Harv
The Richest Man in Babylon by Clason, S. George
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! by Kiyosaki, Robert
Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen by Stanley, Thomas J.

A Sequel
"The Millionaire Mind" is a sequel of "The Millionaire Next Door". It is mostly the reiteration of the previous book, which adds minor traits to the framework. It also repeats some ideas from "Networking with Millionaires". The framework by Thomas Stanley is a foundation of Robert Kyosaki's "Rich Dad", John Cummuta's "Transforming debt into Weath" and other financial intelligence books. John Cummuta have extended the ideas of Thomas Stanley by explaining the concept of compound interest, while Robert Kyosaki have resolved the issue of "live beyond your means", advocated by Thomas J. Stanley. The drawback of Thomas Stanley is that he doesn't seem to suggest what do with accumulated wealth, and only advocates being prudent and frugal as a lifestyle, e.g. do not buy luxury cars or boats or wear expensive clothing's. Robert Kyosaki have criticized this modest lifestyle and have solved this drawback by clearly defined the distinctions of assets and the liabilities and suggested that luxury cars should be purchased from yields produced by the assets rather than from cash flows diverted from obtaining assets. So, the "The Millionaire Mind", although not a bad book, is a minor addition to "The Millionaire Next Door", where the author have devised the terms "Under Accumulator of Wealth (UAW)", "Average Accumulator of Wealth (AAW)" and "Prodigious Accumulator of Wealth (PAW)", and concluded that any American PAW household even with very modest income will become millionaire. The main points of the framework are: Spend Less Than You Earn, Avoid Buying Status Objects or Leading a Status Lifestyle, PAWs Are Willing to Take Financial Risk if it is Worth the Reward and Economic Outpatient Care. The authors also make the interesting observation that UAWs tend to have children who require an influx of their parents' money in order to afford the lifestyle that they expect for themselves, and that they are less likely to have been taught about money, budgeting and investing by their parents. I would suggest "The Millionaire Next Door" and "Networking with Millionaires" in addition to this book, as well as the works by Robert Kyosaki and John Cummuta.