In The Millionaire Next Door (buy on Amazon), William D. Danko skews the myths about how (and where) most millionaires live, and what it takes to become one. Their extensive research identified the sometimes surprising characteristics and habits shared by many millionaires. For instance, millionaires are often bargain shoppers (they buy used cars and off-the-rack clothing), pay only a small percentage of their wealth in income taxes, and shun the lavish lifestyles we often associate with being rich.
The book explains how to determine what your net worth should be, according to your age and income, and how you can build wealth over time and become a millionaire—if you have the discipline.
