The Middle-class Millionaire

The Middle-class Millionaire

The Rise of the New Rich, and How They Are Changing America

Book - 2008
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A compelling look at a new class of the affluent - the middle-class millionaires -- whose attitudes and values are influencing and reshaping American life

In this groundbreaking book, Russ Alan Prince and Lewis Schiff examine the far-reaching impact of the middle class millionaires--people who enjoy a net worth ranging from one million to ten million dollars and have earned rather than inherited their wealth. Comprising 8.4 million households and growing in number, the attitudes and behaviors of these working rich are exerting a powerful influence over our society. So who are these people? They believe in the benefits of hard work. They believe in investing in themselves, and in self improvement. They are more likely to focus on drawing financial gain from their work, and less inclined to be discouraged by failure. And they don't spend money on the extravagances indulged in by the very rich; instead, they wield their affluence according to middle-class values and ideals. From home security systems to health care, technology to travel, their spending choices are affecting us all -- from the products we buy, to the communities in which we live, to the aspirations and values of the broader middle class and American population as a whole.

In the bestselling tradition of Bobos in Paradise and The Millionaire Next Door, THE MIDDLE-CLASS MILLIONAIRE is a captivating narrative -- part sociology, and part aspirational journey into the lives, attitudes, and values of the middle-class millionaires. Based on extensive surveys and research into more than 3,600 middle-class millionaire households around the country, this book will reshape our understanding of what it takes to be successful -- and how all of us can achieve similar success.
Publisher: New York : Doubleday, [2008]
Copyright Date: ©2008
ISBN: 9780385519274
Characteristics: xi, 228 pages ; 24 cm
Additional Contributors: Schiff, Lewis


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Nov 18, 2017

Based on extensive research, the author’s identify the key characteristics of successful middle class entrepreneurs. Their theory that these individuals will be key drivers within society is more open to question. The characteristics identified are mostly benign ( hard work, independence etc), however the emphasis on monetary gain to the exclusion of much else (such as family life) gives pause for thought on just how beneficial this is to society.

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