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.
"Most non-fiction books consist of slightly incremental new takes on the same old reality. Occasionally, though, a book emerges that establishes a new reality. That strikes me as the case with "The Middle-Class Millionaire." –The San Francisco Chronicle
“The Middle-Class Millionaire opened my eyes to a new force driving the American economy. Russ Prince and Lewis Schiff show us exactly what you need to look for to make the most of this enormous opportunity, whether you are just getting started on the path to being a millionaire or there already!” -Jim Cramer, CNBC’s Mad Money and Co-Founder, TheStreet.com
"Impressively thorough." –Newsweek
"Russ Prince’s and Lewis Schiff’s insightful book can help you understand and capitalize on significant business opportunities within the emerging affluent middle class." -Tom Bradley, President, TD AMERITRADE Institutional.
“Prince and Schiff have identified a new breed of millionaire who is transforming the American lifestyle. Read how to join this elite club and follow them to the American dream." -Consuelo Mack, Anchor & Managing Editor, Consuelo Mack WealthTrack
"A must read for anyone seeking to understand the emerging affluent market. The authors’ extensive research identifies key characteristics of today’s ‘working rich’ and provides insights as to how to successfully reach this lucrative segment." -Grant Skeens, President, KeyBank Recreation & Luxury Yacht Lending