The Next Millionaire Next Door, with Dr. Sarah Stanley Fallaw

<p>#190: More than 20 years ago, affluence researchers Dr. Thomas Stanley and Dr. William Danko surveyed a vast number of millionaire households in the United States.</p> <p>What they discovered was groundbreaking at the time.</p> <p>The average U.S. millionaire, they found, lives a frugal lifestyle. They are disproportionately clustered in modest, middle-class neighborhoods. They drive used cars. They don’t spend money on jewelry, watches, boats or other high-ticket items. They’re self-made, meaning they did not inherit their wealth; they’re first-generation millionaires.</p> <p>In 1996, the researchers published their findings in a book called The Millio...