Millionaire Next Door

I just finished reading The Millionaire Next Door by Thomas J. Stanley, and William D. Danko.  New York: Pocket Books, 1996.  It was a quick read.  Maybe because it is 13 years old now, I did not find anything too revolutionary in it.

In it they outline seven factors for millionaires: 

1. They live well below their means 

2. They allocate their time, energy, and money efficiently, in ways conductive to building wealth

3. They believe that financial independence is more important than displaying high social status

4. Their parents did not provide economic outpatient care  

5. Their adult children are economically self-sufficient 

6. They are proficient in targeting market opportunities 

7. They chose the right profession