English Abstract: Individual financial decision making is known to be associated with each decision maker's risk preference. In general, risk preference has been measured either as a stated preference or as a revealed preference. While each assessment method has its own strengths and weaknesses,...

The purpose of this study was to test several propositions imbedded in Stanley and Danko's (1996) ground breaking book, The Millionaire Next Door. Given the book's impact in shaping the type of advice provided by those in the media and many financial planners and wealth managers, this study was...