These points aren’t really instances of bad advice that I want to disagree with. However, there are some potential takeaways I want to draw to your attention.
I don’t have many negative things to say about the book’s underlying messages. Let me start with a quick disclaimer: The authors of The Millionaire Next Door (Thomas Stanley and William Danko) and I have many similar ideas when it comes to wealth generation. 👉 Important Note: Do not take this book’s recommendations or any of my opinions on them as investment or tax advice. Try to focus on extracting the broader lessons that can still apply to your life. So if you decide to read the book, be aware that it’s outdated in some respects. It assumes a male breadwinner and a housewife, with children destined to live out the same pattern. For example, all of the millionaires that the authors interviewed were men, and the authors write as though the old-fashioned nuclear family model is a given. However, some of its attitudes don’t exactly hold up in today’s world.
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