The Middle-Class Millionaire: The Rise of the New Rich and How They Are Changing America

This is a great companion to an earlier book I also enjoyed, The Millionaire Next Door. Would recommend The Middle-Class Millionaire to any marketer who wants to understand what makes affluent people tick, as well as to anyone who wants to see how affluent people actually become that way.

I recently finished reading this book and found it very interesting to learn about this subset of middle class which I never knew existed. It provided a review of the behaviors of this class after completing a survey of the 500+ people considered "Middle Class Millionaires," and contrast them against the traditional middle class. From education (which is a big investment for this group), to initial investments in high capital goods, to beliefs in work ethic, this group has discovered the traits to millionaire success. While reading I noticed that many of these traits are recurring themes I read about in other books and periodicals targeting the millionaire class. I would like to caution the authors that defining the middle class millionaire by only having a net worth of $1-10mm would include persons in California who could own one, or perhaps two homes and be highly leveraged in debt, yet still be considered a middle class millionaire. This is certainly a book which I wish more college students read earlier in life in order to demonstrate the true picture of affluence, in contrast to the misbelief of having highly leverage debt homes, high credit card debt, expensive BMW cars, and working as a slave to a corporate firm for years before they finally "get it".

The Middle-Class Millionaire: The Rise of the New Rich and How They Are Changing America is an important book. it shatters old paradigms, shibboleths and myths about millionaires. While on the one hand it discloses, almost like an instruction manual, how one could achieve such wealth, or, at least, how others did, it doesn't advocate paying the price necessary to achieve the objective. The authors are content to point out the myriad ways the wealthy are different from the rest of us. I read it not as a primer or "how to" book, but as a fascinating and thoughtful description of a new and important phenomenon. At a time of greater disparities in wealth than any I can remember in my 72 years, it is useful and even important to understand just who and how some of those who have mastered the system have done it. One doesn't read about NBA basketball players in order to become one--but one could well benefit from reading The Middle-Class Millionaire. I know I did, and I have sent copies to the young people in my life.

This is an amazingly well-written and thoughtful book about the face of wealth in America today. Using lots of real examples, the authors discuss the habits and values of the pragmatic, family- and safety-oriented self-made millionaires that dot the landscape and make up a large part of our consumer culture. For anyone thinking about starting a small business, this book is a must-read, not to mention anyone wondering what it really takes to get ahead in 21st century America.

The title caught my eye and I couldn't put it down until i had finished. At least twice every chapter, I found myself saying, "wow" at the facts and insight in this book. They offer a very motivating view at marketing and the american consumer. A definite read for any entrepreneur.