These people cannot be millionaires! Buying cars, millionaire style Scott Alan Turner, CFP® Updated January 8, 2016 Katie got home from WalMart today grocery shopping (the closest store within a 45-minute drive) and said the Honda Fit had crossed 100,000 miles. Stanley & Danko define millionaire as someone having a net worth of one million USD or higher. Frugal Frugal Frugal 3. Do you envision fancy cars, expensive attire, sparkly jewelry, an elaborate mansion? Economic Outpatient Care 6. The Millionaire Next Door is required reading for anyone hoping to understand the unglamorous secret to wealth. It is a myth that most millionaire next door types only buy used cars. 1. By THOMAS J. STANLEY, Ph.D and WILLIAM D. DANKO, Ph.D ... Our friend also drives a current-model imported luxury car. In fact, for every one millionaire that is used vehicle prone there are two who tend to buy new vehicles. The Next Millionaire Next Door is sobering and inspiring. The Millionaire Next Door: Main Premise. Thanks to twelve years of living the millionaire-next-door lifestyle I have no desire for giant houses and flashy cars and, luckily, neither does my wife. It should also be required reading for every high school student. Interesting facts and figures about the millionaire next door: About 5% of Americans are millionaires (1 in 20). It's no secret that my favorite book about financial independence and building serious wealth is The Millionaire Next Door by Dr. Thomas Stanley and William Danko. Many do not drive luxury cars. Cars Driven by Millionaires (And Me) Here are some thoughts from the author of the Millionaire Next Door on car-buying habits of millionaires: 86% of those who drive prestige makes of motor vehicles are not millionaires [having an investment portfolio of $1M or more]. 1. Through years of research, the book proves that wealthy people aren’t necessarily driving around in expensive cars, living in Amazon-sized homes and shopping for $1,000 purses and wallets. Within the used vehicle prone segment, there are two subsegments. Find Your Niche 8. The Millionaire Next Door. Money 7 Winning Habits of Millionaires The author of 'The Millionaire Next Door' died last Saturday in a car crash. The Millionaire Next Door famously states that “Only a minority of [millionaires] drive the current model year automobile.” And about 33% of those millionaires-next-door only buy used cars.. At a glance, it may be hard to understand why they’d choose to drive a used car, or to buy a new car and then hang onto it instead of replacing it regularly. There’s no fancy car, no $5,000 watch, no McMansion. Money 7 Winning Habits of Millionaires The author of 'The Millionaire Next Door' died last Saturday in a car crash. The top 10 cars for $250,000-plus households include the Mercedes E-class, the Lexus RX 350 and the BMW 5 series and 3 series. He or she makes no ostentatious display of wealth. The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of them—about 95%, have between $1 million and $5 million. Meet the Millionaire Next Door.