|The Millionaire Next Door
|List Price: $15.00
Our Price: $2.77
You Save: $12.23 (82%)
How can you join the ranks of America's wealthy (defined as people whose net worth is over one million dollars)? It's easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means. The last rule is, choose your occupation wisely. You'll have to buy the book to find out the other five. It's only fair. The authors' conclusions are commonsensical. But, as they point out, their prescription often flies in the face of what we think wealthy people should do. There are no pop stars or athletes in this book, but plenty of wall-board manufacturers--particularly ones who take cheap, infrequent vacations! Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society. "You aren't what you drive," admonish the authors. Somewhere, Benjamin Franklin is smiling.
The incredible national bestseller that is changing people's lives -- and increasing their net worth!
CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?
Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
Where did their ancestors come from?
How did they get rich?
Can I ever become one of them?
Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised at what you find out....
- Must read for those looking to acquire wealth
The only book I've read about money that's worth the paper its printed on. Changed the way I look at money and what I spend it on. Makes you feel better about driving your pedestrian passenger car and living in your middle class neighborhood. My favorite part of the book is the study that shows the top two credit cards owned by millionaires are JCPenny and Sears! Who would have guessed? The book does get a little repetitive, but it really drives the point home. The only way to become wealthy is to be thrifty and invest! If you haven't ordered this book yet do it now, it will probably change your life....more info
- How Self-Made Millionaires Do It
This book is a study of self-made millionaires. It covers everything, how they buy their cars, the cost of a pet or a smoking habit. I had read the book when it first came out and I bought a copy for the school library....more info
- good for small business owners
I appreciate this book as the owner of web design business. I am happy to read in the book that 2/3rds of US millionaires own their own business and have on average 20% of their net worth in their business. I've always felt the self-employed / entrepreneurial bug. I'm glad to hear some facts on it paying off statistically speaking.
- Michael Tigue
Web4u Web Design
- Good book but heavy on statistics
This was an easy book to read. Well written, easily understood and appropriate examples. It was a little heavy on statistics though. Lots of charts of percentages. Sentence after sentence stating the percentage of this and that. That was the only really issue I had. Otherwise, I would have given it five stars....more info
- Highly recommend!!
I really enjoyed this book. I mean, really. It was an easy read and the message really hit home with me. This book will change your life and your outlook on it, especially if you're just starting to realize that being an adult isn't as easy as you thought it was gonna be (I've been in denial for a while). It sometimes takes a while for the authors to make their point, but stick with it...it's totally worth it....more info
- The Millionaire Next Door
This is a very helpful book. It will guide you about how to improve your wealth mainly cutting those unnecessary expenses in your life. I use to believe that the millionaires were those how expend a lot of money. Now I have recognize how really is the millionaire and how can I built my way to become one of them....more info
- Excellent, great for young people
I read this in high school, at the urging of a friend and my parents. It changed the way I thought (or didn't think) about money. I believe it is excellent, solid advice for anyone who wants to retire comfortably without the hassle of becoming a true investor. I love how he teaches the difference between life insurance policies, and uses reason and math to prove his points. I'm a college student, but I've already saved for retirement, because this book convinced me of the value of time and dollar cost averaging....more info
- Discovering frugality
I discovered Thomas Stanley about 6 months and his material has had a major impact on my thinking.
The big message that I am taking from this CD is that frugality and financial independence are closely linked. Many high income earners have a big house, flash cars and an expensive lifestyle and are not really saving for their long term financial future. Other low to middle income earners who have personal budgets and are frugal can be more financially independent than high income earners.
I have started tracking my spend and cut down on my outgoings. I am going to put together a budget for my persoanl and business outgoings, reduce my total spend and put the balance into savings, every month. I will start at saving 10% of my income and increase that to 15% and 20% over the next 2 years....more info
- just read the introduction
so the message is fine. people who spend all their money won't accumulate wealth no matter how high their income. the authors pretty much repeated this over and over until they decided they had enough to call a book.
just read the introduction and save yourself $9. there is no other info in the book. ...more info
- Entertaining and Informative
This book lives up to its hype in that it provides some great information on how to create wealth in an entertaining and easy to read guide. If you want some solid strategies that go into more specifics then this book, I highly recommend Nobody's Fool: A Skeptic's Guide to Prosperityby Al Jacobs (www.onthemoneytrail.com) Mr. Jacobs provides the real life tools we need, particularly in today's economy to protect our assets and build solid financial security...and you don't have to be a millionaire to make it happen.
- Excellent Buy
Also read bok by Keith Cameron Smith and Lewis Schiff.
Excellent books. ROI on this purchase is unmeasurable.
The book talks about all the myths about wealth and wealthy in America. I took down notes like crazy....more info
- A very dry read
I'm surprised this book has such a good rating. Yes, it is informative and smashes the misconceptions people have about millionaires and how they spend their money. But it is also very repetitive, full of boring charts and statistics and overall a very dry read. I'm having to force myself to get through it....more info
- Interesting Book
This book has a lot of information that is very interesting. A good book to read!...more info
- Millionaire Next Door
This book gives great examples of people making the first and most important step to wealth - saving. It shows why those who appear rich may be poor and that those who appear poor may be millionaires ! This should be mandatory reading for high school students. I give a copy of this to each of my neices and nephews for graduation dedicating it to my Mom, a bus driver after raising 7 children and my Dad, a welder who became millionaires....more info
- Great if you want to wait until your fifties to be a millionaire
This book offers sound advice much of which is common sense. My biggest complaint with the book is that it looks at most situations from an employee perspective. Obviously over 30 or 40 years if you live below your means you will have socked away enough money that the compounded interest will have greatly increased your wealth. Time and time again the book references Millionaires who are in their fifties. Being in my twenties I think there must be a better way to become a millionaire than just go into work for the rest of my life, cut back on expenses, and clip coupons.
This book is rich with numbers and stats, but falls short in giving you advice in how to actually increase your revenue or cash flow. Granted most investing advice looks at what to do with your money after you have made it instead of teaching you how to actually generate more income/revenue. This book is no different.
It was interesting to learn many Millionaires were small business owners with somewhat boring business. Also scarier to see these small business owners who are "rich" spoil their kids and turn them into employees by sending them to expensive colleges. Thus after 3 generations the ability to generate true wealth is lost. Having a job with a single source of income does sound a lot riskier than running a business with 100s of customers. If you lose your job you are out all your income, if you lose a single customer you still have 99 more to pay the bills.
Solid advice most of which I learned from my parents growing up....more info
- Academic Overtones Throughout
I found this book to be highly informative, but overall a little redundant. The information was provide in an academic format, and the chapters are set up more like an outline, than a story. Overall, I'd say this is well worth your time to read. ...more info
- Millionaire Next Door
This is an excellent book and timely. I wish every junior high, high school and college would make it required reading and then have a thorough discussion over a 2-3 day period on the freedom that one has from not going into debt and not buying into the marketing hype of our day....more info
- Great book that can never get outdated or old
I'm so glad I found this book. I heard Tom Leykis recommend this book on the radio awhile ago and I ordered it right away from Amazon. When I read it I instantly felt as if I benefited from what the book talks about.
Even years later, I still flip through this book to remind myself of what goes on in the life of a millionaire. There's the exterminator who drives a bulky looking van with a bug on the roof of it, who nobody would think is a millionaire. What you'll discover when reading this book is that exterminator owns his business, has a dozen trucks just like that, and still goes on call every once in awhile just for the passion of his business. There's the stockbroker who's not a millionaire, and admits he'd probably make more money if he held onto his investments, but since he's staring at monitors all day he's tempted to actively trade.
The book goes through statistics and research. You'll learn that most successful investors are not even high income earners, they are frugal, patient, spend more time researching their stock picks than they do buying and selling repetitively, and don't tend to wear expensive suits and watches as you may think.
A great read for anyone....more info
- Just get to the point!
The message of this book is very good - it's about being conservative with our wealth. However, I wish the authors were a bit more conservative with the use of their lengthy descriptions of esoteric points. It's as if somewhere along the way they said, "why should we say in 10 words what we could say in 100,000?" If they just got to the point you could read the whole book in about an hour....more info
- Should be required reading for high schoolers and older
The information and advice offered by this book is 100% sound. I actually paid each of my daughters $50 to read The Millionaire Next Door when it first came out, and I now share it with others. Adjusting to the "millionaire" lifestyle described in the book will lead to a much more enjoyable and fulfilling life, pretty much guaranteed. This knowledge is especially important for young folks, who need to develop their financial skills and lifestyle attitudes early in life....more info
- Some interesting stuff
but sometimes it belabours the point a bit too much. Note - some of the examples/tables are very USA-specific, but it has a fair few nuggets of interesting information....more info
- So you want to be a millionaire?
This is the second time I am reading this book and it has enlightened me once again on what it takes to be a wealthy. I think some people who read the book give it an overly simplistic view, while there is a deeper insight that is often missed about millionaires.
In the beginning of the book in the introduction, the authors discuss what the definition of wealthy is. Millionaires seem to accumulate wealthy by investing their money rather then spending money. The Authors break down what the media has us perceive millionaires are by showing their big houses, their luxury cars and expensive suites. This is a good starting ground because you can see who the wealthy are. They draw on the fact that true millionaires are Prodigious Accumulator of Wealth (PAW), who does things to build wealth. They draw on Under Accumulator of Wealth (UAW, are great consumers, buying for status rather then for wealth.
In the first chapter the authors also talk about the top ethnic groups who are wealthy and their likelihood of becoming wealthy. This is a good motivator because it suggests that most American can or should be wealthy. One misinformed reviewer thought that Black was an ethnic group, when it is actually a race. The authors did a splendid job in not making wealth a race issue, but wanted to separate which ethnic group is more likely to be wealthy. While any one can become a millionaire, how long you reside in the United States is a big factor in that.
Chapter two is about being frugal and how the wealthy preserve their capital while others are consumers. They do not go over what types of wealth the PAW gathers, but they tell what they do not focus on. They also break down the mental picture of who the wealthy are. Do the wear Armani suites, drive Porches, and live in million dollars homes, no. The answer may be surprising because the media has given us a different picture of what wealthy should be. It is encouraging to note that most millionaires live in small towns, drive inexpensive cars, and wear moderate clothing. The authors break down the idea that wealthy people may not look like they have money because their focus is accumulating wealth, not in acquiring possessions. They recommend that this is counter productive.
Chapter 3 gives you an insight on time, energy and money. It goes over what the wealthy worry about and don't. It also shows what the wealthy know about shopping, their finances and their life. They most spend their time knowing the small stuff about their finances and how to save money. This chapter is a reflection of chapter two. It also goes over the consumption habits of the PAW and the UAW to show you how different they are.
Chapter 4 you aren't what you drive speaks about the kinds of cars the wealthy drive. This chapter should have been shortened because they seem to repeat the central themes of the chapter over and over to drive their point home. It was interesting to note that many of the PAW's drive used vehicles over 5 years old and rarely by new cars.
Chapter 5 Economic Outpatient and Chapter 6 Affirmative Action, Family Style both lost me. Economic outpatient is when a wealthy parent provides a yearly gift or money to a PAW child which the authors suggest is why they are PAW in the first place. Chapter six describes who typically gets the Economic Outpatient and gives the peril of these discussions. This lost me because I could not figure out who they authors were talking to. Were they talking to the reader as a parent, the reader as a child or the reader as both? When thinking about, their vagueness on this issue I think it was written for both; one not to except it and one not to offer it. I believe both of these chapters should have been combined and shortened to make it less confusing.
Chapter 7 Finding your Niche and Chapter 8 Jobs: Millionaire Versus Heirs could have also been combines because both discuses the types of jobs and service that one can perform to become wealthy. While it may be common knowledge that the wealthy own business but what types of jobs do they have if they are not entrepreneurs? Generally these types of jobs gives them a stream of income like lawyers, doctors, real estate professional, auctioneers and accountants.
If you are looking for a book that teaches you a step by step approach on how to be a millionaire, this is not the book for you. If you want a book that explains who these individuals are and how to be like them, then you want to read it. What the authors did was give a well researched book on who the wealthy people and how to be like them.
I gave this 4 stars because Amazon does not allow for me to give it 3 ? stars because there is a wealth of information in the book.