Rating: 
Summary: Misguided and presumptuous
Review: When I started reading the book, I felt very optimistic. After all, I clip coupons, get my hair cut for less than 10 bucks, don't buy things I don't need, and save a large amount of my income. I spend a great deal of time trying to cut back on my expenses. Could I be a millionaire too? I read on to see how millionaires became that rich. Many of them started their own businesses. But what about all the businesses that fail? Also, almost all of them invested. This is the key reason that they are millionaires, I have no doubt about that. But this book was written when the economy was so good. With today's stock market, how safe is your money? These days, companies' stocks are often worth less than a tenth of what they used to be. Businesses, especially small-scale businesses, are closing and people are losing their jobs. What's more, under "fears of millionaires" are several entries about increased taxes, but nothing about the stock market crashing. In fact, I think that probably a lot of the millionaires in the book are no longer millionaires because of the dip in the economy. Keep that in mind. Second, with all their "frugality" and "not giving financial assistance to children," more than half the millionaires send their children to private schools, and more than 2/5 pay for their grandchildren to go to private schools. The last time I checked, a private high school can be close to $25,000 a year, and a top private college can be close to $35,000 a year. You call that frugal? I'm a proud public school graduate and really don't see the need to send kids to private school; of the millionaires, only 17% of them went to a private school, and they're obviously doing fine. The third point that bothered me was the "price per pound" shopping strategy for a car. I'm really confused as to what that has to do with the overall value (best deal considering price and quality) of the car. The only people that would benefit from this book are those that do waste extravagantly. There are plenty of them out there. But this book is useless for the people who earn $25,000 a year and/or live just as frugally as the millionaires. I found the "Why aren't you a millionaire? You must be wasteful!" attitude very condescending. The book is fatally flawed in its assessement of priorities. Having three luxury cars while being in financial danger doesn't make you happy. However, having a million bucks in your stock portfolio or bank account also doesn't guarantee happiness. The book should promote a balanced lifestyle in which one can reduce financial worries by learning to appreciate a simpler life. Instead, the book places far too much emphasis on gathering up that wealth instead of finding that optimum balance.
Rating:
Summary: Proves you can be a millionaire if you live like a pauper
Review: A biased book on millionaires. Points that were applicable to many people were stressed, e.g., _EVERYONE_ can be a millionaire if they saved. Not very objective. Felt like a self-help book marketed in order to sell more copies. For instance, some facts were skewed ("not a lot of millionaires buy expensive cars" exclaims the auther, however, if ~30% of millions own 40K+ cars, I would consider that a fair amount). Religion maybe the panacea for the masses, this book wants to be the panacea for the masses' fiancial problems. For a different perspective on millionaires, read "Rich dad poor dad." Which book is right? I don't know, but if millionaires live like middle-income people, I'd rather be just middle-income :-)
Rating: 
Summary: The missing information
Review: The authors have several charts and tables in the book citing a specific percentage of millionaires by ethnicity. They leave out the Blacks in America. Before you stop reading this note, take heart to what I am saying and try see this point from the perspective of a Black millionaire. If we are not represented in literature of "perceived fact" in our national writings then we will remain the lost "tribes" here on the American continent. Some of us belonging to the Original Americans who owned this continent. Although Native Americans are mentioned in one chart, none of the charts, tables and/or text mentions Black Americans, where other specific ethnics are called out, such as Russian and Asian. Both groups settling in The Americas long after Blacks were "introduced". (I use the term loosely.) Black millionaires are well and healthy in the United States and should not be over looked. In fact, most should be held-up as an ethnicity who has overcome barriers far greater than any other Americans, to obtain their wealth. Few Black millionaires were produced through windfall, family inheritance or other types of instant prosperity. I feel strongly about this issue and have advised all of my friends and associates to either destroy this book or to disregard it if they have not purchased it already. I do not want my children to read a text of which they rightfully should be a part yet are missing. On a more positive note, the book contains good information about how to become a millionaire, how to identify millionaires and the basic statistical behavior of millionaires, and strategies millionaires use to remain in their chosen group; a group with which most Americans are not particularly familiar. I wish the authors had made a concerted effort to be racially balanced, as I am sure there are a significant number of Black millionaires in the United States to warrant a mention in the text or on one of the charts or graphs. Additionally, the authors could have made a footnote or addendum entry citing the millionaires that were in smaller numbers than the 0.04% which they cite for one of the groups. I left my copy of this book on the train in Europe in hopes someone reads it and is misinformed over there versus over here. Here -- we have enough misinformation perpetrated upon Black America, both wittingly and unwittingly by insufficient, illequiped authors, investigating subjects with limited intellectual tools, in the name of literary prowess.
Rating: 
Summary: A must read
Review: This book opened my eyes to the concept that less is better. Read it with an open mind and see for yourself.
Rating: 
Summary: EXCELLENT BOOK !
Review: This book is simply the best book I have read in years.
Rating:
Summary: A Welcome Disillusionment
Review: I'll add this to the fray only because I haven't seen my particular viewpoint expressed yet. The gist of this book (not necessarily the statistics) was a real eye-opener for me. I was groomed and encouraged to pursue "a professional career" because that was what my parents believed was the road to financial prosperity (not necessarily great wealth.) But I was never really suited for the lack of independence, the snobby corporate atmosphere, the modern-careerist mindset that I found. At about age 20, I met a good friend (a merchant) who is a "millionaire next door" as these authors profile them. He does have a high income; his wealth does not come merely from extreme frugality. However, he does clip coupons, drive an old pickup truck (bought new but ten years old,) and make spaghetti sauce from scratch because the prepared stuff is "a ripoff." (He also owns a mansion and will "waste" money -- thousands!-- on leisure pursuits he values.) The authors of this book articulated something for me -- STATUS costs money. That reality is what I'd been experiencing and what had had me troubled. For some of my college friends having a "high-status" job is important. The high-status job itself requires an expensive lifestyle -- meals out because you don't have time to cook, extensive use of a car, etc., all kinds of convenience based spending. The status of the possessions is another issue that I won't discuss now. This book really clued me in: I couldn't care less about having a high-status job. And my belief that a high-staus job is the only path to prosperity (or even security)is nuthin' but a corporate brainwash.
Rating:
Summary: Read it, live it and you're on the road to financial freedom
Review: While driving home one evening, I was behind a beautiful Lexus SUV. I was thinking "Where are people getting all this money" and feeling self-conscious in my rusty, 7 year old, GMC Jimmy. Then this SUV pulls into the garage of a tiny, less than ordinary ranch home. Imagine my surprise! I pulled into my lovely old home in an ordinary neighborhood that with much sweat equity has doubled in value. What will that Lexus be worth in three years? This book defines the thought processes of the spenders and the savers. The Millionaire Next Door is an easy read. There are numerous valuable case studies that will surprise and inspire you. The book focuses on the principles of sacrificing (not depriving yourself) for financial freedom. The idea is not to focus on material goods but to become interested in watching your money and investments grow. If, however, you can't live without that foreign import automobile you can follow the advice in this book on the best time to buy. If you can sacrifice and not live in that "exclusive" neighborhood where no one would EVER drive a used car, just think of the money you can save. Your children will grow up to learn that not everyone has a half million dollar home and a brand new Volvo every three or four years. There is much more personal fulfillment in being financially free to choose how to live than being a slave to your possessions. This book also offers valuable estate planning information. The writer cautions about talking with your children about how much you are worth and your will and estate plan. It also mentions how to set up your executors so that rifts and tensions will not develop within your family. Sections of the book might seem like common sense to some, but it can also be very self-confirming to those who have been sacrificing and need the little push to carry on. Very interesting reading!!!!
Rating:
Summary: An intuitive insight into the affluent lifestyle!
Review: "The Millionaire Next Door" by authors Stanley and Danko was inspirational, refreshing, and well written. It eloquently depicted throughout the entire book the true significance of the proverb "Live within your means not within your wants." This book provides a canvas that covers a wide spectrum of readers from teenagers to grandparents. The book was comprised of eight chapters and three appendixes. These chapters were documented and analyzed using insights, examples, interviews, and surveys. It was astonishing to find that American millionaires have so much drama within their lives, just as normal Americans. The authors took time to investigate, interview, and layout the seven denominators that were conducive to accumulating money. These factors benefit anyone who takes the time to read this book. Only the readers can articulate and evaluate the true meaning of these factors for themselves. The heart and pulse of the book was chapter seven, which was entitled Affirmative Action, Family Style. The reader will enjoy reading this chapter; it is filled with drama and meaningful insights as well as life lessons. The context of the book can be best summarized by the quote "Most people have it all wrong about wealth in America. Wealth is not the same as income." I think this book will enhance and inform our society and in particular our young adult population within America regarding the wealthy. The readers should realize that this book was written after two decades of studying, researching, and compiling data regarding affluent Americans. The authors excavated the essential knowledge of affluent Americans. The readers will gain much insight and experience from this book regarding accumulating an affluent lifestyle.
Rating:
Summary: The August reviewer completely missed the point!
Review: This is a great book! The reason I have the title "Compeltely Missed the Point" is in response to the reviewer from this August. Investing a small portion of your job income every month will build up enough passive income so that you won't need to work for a living the rest of your life. By the way, I know some millionaires who special entities so that they have less of it taxed, in order to pass more on to their kids.
Rating:
Summary: An interesting glimpse of the wealthy in America
Review: The millionaire nextdoor is pretty straightforward in that it makes it clear that people get rich by being prudent and cautious with their expenditures. I think that Stanley and Danko have a number of valid points. Most people become wealthy by focusing on keeping and growing what they earn regardless of their income. This book should be taught in schools because many people believe in spending as much or more than they earn. The reason I do not rate this book a "five star" rating is because the author goes overboard in his description of millionaires as "tightwads". Afterall, most millionaires would rather be called "conservative" rather than "stingy". Also, in the Bay Area, where I live, I have never seen a millionaire that is compulsively stingy. Again, being conservative or frugal does not mean that a person who earns $240,000 a year must drive a 1960 ramblar station wagon to save money. With that aside, however, the authors drive home the fact that not all millionaires drink expensive champagnes, live in Beverly Hills, Drive Rolls Royces, and wear Rolexes. Many of them become rich by living below there means. In conclusion, I reccomend the millionaire nextdoor to those who are serious about their future.
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