Rating: Summary: a valueable lesson read Review: I found the book most useful in awakening my own beliefs of money and why I didn't have much of it. Although some points made were sometimes redundant (i.e. such as the types of cars or credit cards millionaires own)....it was an interesting read.
Rating: Summary: Unexpectable findings Review: This book has an unexpectable findings on those that are rich, and by rich, I meant their net worth, and not their lifestyle.Thomas Stanley found that those millionairs are just like you and me, living frugally, save alot and only buy things they can afford. In contrast to those celebrities that live in big houses and drive flashy cars, the millioairs are those that live in ordinary neigbourhood and drive a second-hand car. By living frugally and invest for the long term, those people achieve a high net-worth, with plenty of money tucked aside. In contrast, many people that looks rich on the surface may be runing out of cash if the next paycheck does not arrive in time. A book worth reading.
Rating: Summary: Enjoyable, but belabors the obvious Review: I enjoyed reading this book but as a person with PAW instincts I found it very elementary and repetitous. Many of the anecdotes and "findings" confirm things that I either knew intuitively, or suspected from observing others. The case histories detailing typical UAW bad habits were very in-your-face, and after awhile I didn't even enjoy reading anymore about other peoples' stupid mistakes. Then again, given the way alot of Americans (mis)handle their money, perhaps the authors felt they could not repeat too many times the mantra "if you want to save money, spend LESS than you get". The most illuminating material for me was the chapters about adult UAW children of PAW's. Pretty depressing. I have seen incidences of their behavior (spend everything while waiting for your anticipated inheritance) but had no idea this sort of thing was so prevalent. So overall I found this a thought-provoking book, but am giving it 3 stars because it really talks (preaches) down to the audience.
Rating: Summary: Good, not great. Review: The title is the best part of book. Using lots of tables and statistics, the book describes a group of millionaires who do not act like millionaires. This makes it somewhat dry and dull, with many facts repeated in different parts of the book. The bent is towards extremely frugal individuals. I think it spends too much time on people that make $50,000 a year but cut every corner to accumulate wealth. I never find out why they stash away all their money, it never seems to be enjoyed? I question the logic of saving every penny until you die just to boast that your net worth is over a million dollars. I read Rich Dad, Poor Dad and found it much more compelling. It offers a practical approach to making money work for you.
Rating: Summary: An Eye Opener As To Where The Wealth Really Comes From ! Review: It was very interesting to learn that most of the wealthy actually worked for it or were smart enough to earn it on their own. We usually think that most of these folks received the big money on a silver platter. This 272 page books provides a real blueprint for financial success. It is even entertaining to read. The authors show you that anyone with a reasonable amount of smarts can gain their financial fortune if they play their cards right. Not only do they put the reader in the right frame of mind to get their fortune, but they pave the wave for doing so. It's loaded with useful, eye opening facts that everyone can use. Read it and share it with your youngsters. You'll all gain. A real winner!
Rating: Summary: Exploding myths about millionaires... Review: The Millionaire Next Door is an apt title for a book that is the culmination of a two decade study of millionaires. The authors are clearly the experts in their field, and they confirm that most millionaires are hard-working, thrifty folks who have a plan. The book also shows how one family can be close to retirement, while another with the same earnings can be less than a year from bankruptcy. I strongly recommend this book for anyone who wants to see firsthand how the rich become that way. Learn from those who did it, not from those who teach or write about it!
Rating: Summary: Millionaire Mind is better Review: I thought this would be a little more like "Millionaire Mind" and it is not nearly as good. It is very repititious about being frugal. Over all though, I would say it does have a good message about being frugal, even though it takes like 300 pages to say it.
Rating: Summary: a useless book Review: this book just tells people that they should save money and be frugal. This may make you rich, but it will also make you gloomy for the rest of your life. It takes away the pleasures of money. What fun is all the money in the world if you can not spend it
Rating: Summary: A Must Read Book For Those Seeking Financial Freedom Review: Let's face the facts: the great majority of people, even people living in the wealthiest nation in the world (the U.S.), are quite mediocre when it comes to their own personal wealth. A mere 3.5 out of every 100 U.S. households have a net worth of $1 million or more. However, according to Stanley and Danko, the interesting fact is that most of the wealthy got where they are in one generation from humble backgrounds by working hard, living below their means, and allocating their time and energy efficiently to building wealth. The authors have shown by numerous examples that this age-old formula for becoming wealthy is still the most realistic hope for financial freedom-seekers today. If you earn an above average income, have a good work ethic and achievement orientation, and have a tendency to save money, then this book will likely appeal to you and you will benefit from the information contained in it.
Rating: Summary: Inspiring Review: While this book is not a how to become a millionaire guide, by looking at the habits of first generation millionaires, it makes it seem within one's grasp. My wife and I have been inspired to achieve millionaire status in 10 years after reading it! It should be noted that The Millionaire Next Door is geared mainly to people who earn above average incomes and spend their money on fancy clothes, expensive cars and other conspicuous consumption items and never really accumulate wealth. If you are in this category, this book will make you think about your spending habits and whether or not you are willing to forego spending now in order to build up your nest egg and lead a comfortable retirement. There is a lot of emphasis on frugality in this book. However, if you are a low income single parent in a minimum wage job, frugality is choosing store brand over name brand in the supermarket. There is no money left over to invest in stocks and real estate because just about everything is being spent on the bare necessities. Perhaps Stanley and Danko should write another book profiling people who came from dirt poor backgrounds and achieved financial independence. That would really be inspiring.
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