"The Millionaire Next Door" by Thomas J. Stanley and William D. Danko is a book that examines the habits and characteristics of wealthy individuals in the United States. The authors conducted extensive research and surveys to identify common traits among millionaires and prodigious accumulators of wealth (PAWs). The book challenges common stereotypes about millionaires and suggests that many of them live modest lifestyles, are frugal, and avoid conspicuous consumption. It introduces the concept of "UAWs" (Under Accumulators of Wealth) who have high incomes but fail to accumulate significant wealth due to overspending and poor financial habits.
What can physicians take away from the lessons in “The Millionaire Next Door”? Tune in to learn more.
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