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Millionaire Next Door: The Surprising Secrets of Americas Wealthy

Millionaire Next Door: The Surprising Secrets of Americas Wealthy

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Rating: 5 stars
Summary: Excellent confirmation, Excellent tool!
Review: As a financial advisor reading this book for the first time two years ago, I found it to be an excellent book to read as my income was increasing (substantially) and I was feeling the want of consumption. The many tests cited in the book between "upcoming millionaire" and "consumer" was extremely helpful for me. It was also helpful to understand how others may choose to spend on cars, dress shoes, watches etc. The book offers good guidelines on spending.

As a small business owner, the book has taught me to invest my discretionary income back into the business for a better and stronger future. It seems that some of the critical reviews of this book think that one has to be "cheap". To the contrary, I can say that I live a comfortable life, but now understand how to define "comfort".

Finally, I have sited this book to many prospects who come through my office door. For some, I suggest it as a good read to confirm their attitudes about money. For others, I suggest it as guide to which they should pay serious attention to the details. You can't believe how many people think that the opposite of "cheap" means financial recklessness.

The book is a must!

Rating: 5 stars
Summary: Love the "buying a car by the pound" concept,
Review: I am "weigh" ahead with my 1973 Dodge Polar

Rating: 4 stars
Summary: Frugal Defined
Review: Yes, the book overstates that you should be frugal in order to accumulate wealth. It also clearly asks, What are your goals?. If your goal is to be financially independent then read this book and find out how real millionares have made it, otherwise this book might even offend you.

Rating: 4 stars
Summary: Recommended, in moderation.
Review: The book could have been condensed into a long magazinearticle. I myself can reduce it to one sentence: Financial security,instead of going hand-in-hand with a high income, is built on living realistically within your means by spending less than you earn (accomplished by knowing exactly how much you spend and earn) while actively saving and investing for the long-term.

BUT, you have to "live a little." The millionaire in this book does not live the life you want. The notion of financial security is most meaningful when you provide a context: the typical millionaire, this book reveals, is financially secure and does not have to worry about money but also is someone with a normal five-figure income who is rich only in assets because all his life he has been a near-pathological miser and ascetic and has almost totally rejected material comforts that aren't strictly practical. Most of us would happily accept some worrying about finances and retirement in order to enjoy some of the things we just plain want and don't necessarily need. You only live once.

NOTWITHSTANDING, I would recommend taking a peak at this book because the principles it advises, taken in moderation, are desperately needed in today's consumption-obsessed society. I'm relatively conservative with my finances, and if you are also, you don't really need a book like this moralizing to you about the benefits of being more miserly. However, too many people, including high-income folks, are way too irresponsible; even if they are not blatantly so (i.e. running up debts they cannot pay), they can use a non-patronizing reality check (before it's too late) about careful spending, saving, and investing.

Rating: 5 stars
Summary: Millionaires with an attitude!!!
Review: This book is a one stop guide to being a millionaire. This book goes into great detail explaining that being a millionaire is an attitude and doesn't come from simply earning money.As an investment professional, it is refreshing to hear someone outside the profession telling people to live on less than you make. I have found the people who don't like the book are the very ones that need to read it and follow the basic principles that it talks about.

Rating: 1 stars
Summary: BUY THE RICHEST MAN IN BABYLON INSTEAD
Review: If you want to become like the rich uncle of Donald Duck by the time you retire, then read this book. If you want some fun and balance into your life, read The Richest Man In Babylon instead.

Rating: 2 stars
Summary: After the first chapter.....boring
Review: I think they took the obvious and beat it to death. Yes, I believe in saving for the rainy day, but like anything, it to can be taken to an extreme. You also have to live a little. They could have shortend the book to 2 or 3 chapters.

If you have not clue about personal finance, then I might read it. Otherwise, invest in a subscription to Kiplingers or the Wall Street Journal.

Rating: 5 stars
Summary: Excellent Book!!
Review: I loved this book! It showed how 'average' people can become millionaires.

Rating: 4 stars
Summary: Too many words for what could be said in one chapter.
Review: After looking over most of the other reviews, they can be divided into two categories. Those that loved the book and it changed their life, and those that thought it was a textbook on how to be cheap. I saw very little new information in this book. I enjoyed reading it because I enjoy learning that I am already doing things right. I felt the book was way too repetitive though. How many ways can you tell the reader that the way to wealth is through frugal living? Also, way to many tables were included. Finally, the last chapter seemed to be an afterthought. Perhaps the authors should have spent more time on that part of the book, exploring ways for us to change our habits.

Rating: 4 stars
Summary: Simple rules to follow
Review: I have read many complaints from people claiming that the book only gives boring stats. However, as Aristotle once said: "We are what repeatedly do; excellence then, is not an act but a habit." The same can be said for acquiring wealth.


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