Michael Hiltzik (The L.A. Times): The death of the ‘Millionaire Next Door’ dream (March 10, 2015)

Michael Hiltzik, of The L.A. Times, has have made available for download his article, The death of the ‘Millionaire Next Door’ dream , published in The L.A. Times. The article begins as follows:

The idea that the average guy can become rich via hard work and rigorously virtuous thrift is one of the compelling myths of the American experience.

But for the most part, myth it is. Two recent events are both driving it forward and exposing its basic phoniness. The first is the death last week of Thomas J. Stanley, coauthor of the bestselling book “The Millionaire Next Door,” in a car accident. The other is the death of one Ronald Read, a Vermont retiree who appeared to be one of Stanley’s emblematic secret blue-collar millionaires — after a lifetime of low-wage menial work and frugal living, he was discovered to have amassed a fortune worth about $8 million.

Click here to see the full article: The death of the ‘Millionaire Next Door’ dream

 Posted by Josh Saret, Associate Editor, Wealth Strategies Journal.

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