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The millionaire next door: the surprising secrets of America's...

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The author essentially splits everyone into two categories: Underaccumulators of Wealth (UAWs) and Prodigious Accumulators of Wealth (PAWs). UAWs have a low net worth relative to income, and the opposite for PAWs and uses these terms throughout the book.

His primary argument is that PAWs get to be wealthy by living well below their means - these are people who do not look like millionaires, they live in modest neighborhoods, drive domestic sedans, wear a Timex, and usually have a blue-collar job that does not come with an expensive lifestyle associated and as a result can accumulate a sizeable nest egg. On the other hand, UAWs are typically well-educated professionals with high paying and high profile jobs (doctors, attorneys), but due to societal pressures associated with their social standing are forced to squander all their money living in luxury neighborhoods, driving German cars, and sending their kids to private schools. Their expensive lifestyle means that they spend most of their income and as a result have a low net worth, despite outward appearances.

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Availability

181203335

330.9 STA m

Z. HANDIMAN

Available

Detail Information

Series Title

-

Call Number

330.9 STA m

Publisher

New York : Simon & Schuster., 1998

Collation

viii,258p.; 21 cm.

Language

English

ISBN/ISSN

0-671-01520-6

Classification

330.9

Content Type

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Media Type

-

Carrier Type

-

Edition

-

Subject(s)

CAPITALISM

Specific Detail Info

v

Statement of Responsibility

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Other version/related

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