A follow-up to his earlier The Millionaire Next Door, Stanley draws upon research of America's affluent to examine the ideas, beliefs and practices of the segment of the financial elite.

His findings are contrary to common belief, noting for example that high-wealth Americans typically use little or no consumer credit and tend to avoid conspicuous consumption of high-cost or high-status items.

The book debuted at #2 on the New York Times Bestseller list on February 18, 2000 and received press and reviews from Fred Barnes, Katie Couric and Donald Trump.

A review for Bainvestor gave the book a mixed reception, writing that it was an improvement on The Millionaire Next Door due to focusing more on why high-wealth people have certain beliefs or habits and providing a good guide to those interested in accumulating wealth, but the flaws included too much editorializing from Stanley and a lack of emphasis on entrepreneurs, which the reviewer suspected were underrepresented in Stanley's sample.

"[6] Donald Mitchell, author and finance consultant, criticized The Millionaire Mind saying, "because of the way the sample was selected, you won't get much variety...[and that a] control group is essentially missing...."[7] Author of Millionaire Mind Thomas J. Stanley official website and blog