Therefore, the authors decided to take another look at millionaires in the United States to examine what changes could be seen 20 years after the original publication of The Millionaire Next Door. In many cases, these outlets are simply experiences shared without science and case studies without data based on broader populations. A new generation of household financial managers are hearing from so-called experts in personal financial management due to the proliferation of the cottage industry of financial blogs, podcasts, and the like. Government officials, journalists, and many Americans still tend to confuse income with wealth. Over the past 40 years, Tom Stanley and his daughter Sarah Stanley Fallaw have been involved in research examining how self-made, economically successful Americans became that way.ĭespite the publication of The Millionaire Next Door, The Millionaire Mind, and others, myths about wealth in America still abound.
