William Danko

William Danko is the co-author of the book The Millionaire Next Door, which remained on The New York Times best-sellers list for over three years. The popular perception of millionaires —spendthrifts indulging in extravagant lifestyles—remained prevalent for a long time, until Millionaire was published. Based on years of research, William Danko demonstrated that millionaires don’t behave this way at all; in fact, most reject big-spending lifestyles and live well below their means. Danko enumerates the behaviors he found were common to the millionaires he researched—and what you can learn from them. He is a much-sought after advisor on the behavior of the affluent and how to market to them, and in his presentation Danko provides numerous take-away examples of how wealth is created and retained, as well as the shrewdly successful ways to pass it down to your children.

The Millionaire Next Door was no overnight sensation. The two men went through the exhausting process of surveying and interviewing millionaires over a twenty year period. Thousands of such people received the team’s surveys, the responses from which provided the raw data for their investigation. Among the major findings is the fact that the typical millionaire is not so different from–and indeed probably lives next door to–his or her less- wealthy neighbors. Eighty percent of millionaires, Danko and Stanley found, are self-made, and two-thirds are self-employed, often in blue-collar businesses that they own in fields such as construction, dry cleaning, and scrap metal. Millionaires-to-be tended not to be the best students back in high school, but often placed in the middle academic tier of students–”the smartest kids in the dumb row.”

TOPICS

Getting Acquainted with the Millionaire Next Door
Most people have it all wrong about how one becomes wealthy. It is seldom inheritance or advanced degrees or even intelligence that build fortunes; more often it is the result of hard work, diligent savings, and living below your means. Most of America’s truly wealthy do not live in Beverly Hills or on Park Avenue—in fact, quite often they live right next door. William Danko, who spent over 30 years interviewing millionaires, provides numerous take-away examples of how sacrifice, discipline, and hard work most often result in wealth. But these tried-and-true traits so often are ignored by a society bent on obtaining a quick buck. From keynote presentations to after-dinner talks and receptions, Danko shares insights that extend the research found in The Millionaire Next Door. From his elucidating presentation, you’ll learn:

• What millionaires really do—what they buy, how they invest, how they live
• How to successfully pass on wealth to your children: tuition, medical expenses and seed money versus vacations, cars, and housing
• Why attitude is more important than net worth
• What it means to be richer than a millionaire

Full Biography

William Danko’s book, a New York Times best seller, exploded the myths surrounding millionaires. He demonstrates the common traits that make millionaires rich are skills anyone can easily learn.

After 31 years on the marketing faculty – nine as chair – Bill Danko achieved emeritus status in 2007 at the School of Business, State University of New York at Albany. During his tenure, he studied consumer behavior, and in particular the topic of wealth formation. He is the co-author of The Millionaire Next Door, a research-based book about wealth in America that has been ranked as a bestseller by The New York Times for more than three years. His academic publications have appeared in the Journal of Consumer Research, Journal of Business Research, Journal of Advertising Research, and other leading journals.

Dr. Danko earned his Ph.D. at Rensselaer Polytechnic Institute’s (RPI) Lally School of Management and Technology in 1983. “In recognition of conspicuous attainments and service in collegiate activities,” Professor Danko was inducted into the Omicron Delta Kappa society in 2005. He resides in upstate New York with his wife, and is the father of three adult children, none of whom ask him for money.

Getting Acquainted with the Millionaire Next Door
Most people have it all wrong about how one becomes wealthy. It is seldom inheritance or advanced degrees or even intelligence that build fortunes; more often it is the result of hard work, diligent savings, and living below your means. Most of America’s truly wealthy do not live in Beverly Hills or on Park Avenue—in fact, quite often they live right next door. William Danko, who spent over 30 years interviewing millionaires, provides numerous take-away examples of how sacrifice, discipline, and hard work most often result in wealth. But these tried-and-true traits so often are ignored by a society bent on obtaining a quick buck.

From keynote presentations to after-dinner talks and receptions, Danko shares insights that extend the research found in The Millionaire Next Door. From his elucidating presentation, you’ll learn:
• What millionaires really do—what they buy, how they invest, how they live
• How to successfully pass on wealth to your children: tuition, medical expenses and seed money versus vacations, cars, and housing
• Why attitude is more important than net worth
• What it means to be richer than a millionaire