The follow up to The Millionaire Next Door is underway, and part of that effort has been analyzing data and merging the findings into the drafted chapters of the new book. A few weeks ago, I visited the team at Kennesaw State University who worked with us to administer the massive survey to assess the habits, behaviors, and preferences of affluent Americans. I picked up the completed surveys from earlier this year. I didn’t need them since the data files had been sent to me many months ago, but thought I should keep them. Silly perhaps? Not to me. It was a gift to have these paper surveys back, and reminded me of memories of helping my dad send out surveys and organize the returned surveys back in the 1980s on my parents’ dining room table.
Why I’m I telling you this story? What are we examining in this survey? Some familiar topics (most ever spent, investing behaviors, consumption habits), but also new insights into decision-making related to financial management. We also included a sample of Americans that reflected the mass market and mass affluent groups, as well, similar to the research we conducted at DataPoints earlier this year.
So, the best gift I’m getting this year is not a bauble or a new handbag or a car. The gift I’m giving myself is a complete set of analyses to finish what we started. Next year, I’ll be able to share that gift with others in the follow up to The Millionaire Next Door.
Merry Christmas, and Happy New Year!