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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: Frugal can be both fun and fantastic!
Review: The benefits of frugality (control of waste - not being a cynical miser) should be repeated until we are all sick to our stomachs. Attitude is a big part of whether or not being frugal pays off. A good attitude is not easy to build, so I enjoyed the repeating of a message that needs to be repeated. The cynical diatribe about human life in general has a big advantage of being repeated in far more often. How about this, instead of "Just say, NO," --"Just Be Frugal!" Or that ubiquitous smiley face being renamed "frugal face." Change the name of the government from "federal" to FRUGAL GOVERNMENT. I did borrow the book from the library, a frugal bookstore.

Rating: 3 stars
Summary: 40 pages worth of excellent material
Review: good study and insightful approach, but too much of dragging and junk evaluation (tables ,tables and irritating tables with all stupid numbers)

still worthy reading as u know exactly why someone is welathy and others not!!

Rating: 4 stars
Summary: Generally good, but formula is absurd
Review: The book is full of good common sense, but the formula they use to determine if you're a UAW or a PAW is nonsense. I've been saving 30% of my income for years, and in five years my net worth has been multiplied by ten, yet the formula shows that I'm a UAW. That's because until about five years ago I had no substantial income at all.

Rating: 5 stars
Summary: "Frugality rewards individuals as well as companies"
Review: This book makes the major point that people are wealthy because they are frugal. This is more than true. My father, who owned his own successful business taught me this priceless lesson early in life and it has served me very well over the years. Today I own my own company and I am financially independent. This was only possible because my wife, kids and I live well below our means.

Interestingly, the same frugality rule applies to companies as well. Businesses that greatly reward shareholders over long periods are typically very frugal. My favorite example is Fastenal Company where CEO Kierlin still writes his own correspondence in an office decorated with used furniture. Kierlin simply states: "Frugality has helped make us profitable and profitability is what you need to continue to grow."

Rating: 5 stars
Summary: The one-stars have missed the point...
Review: Read past the first chapter of this book (which presents the extreme view), and read interpretively. The authors are not necessarily saying that you should amass a great fortune without enjoying yourself along the way. What they are saying is that if you ever want to live your current lifestyle independent of a paycheck (i.e. retire) then you need to build up a reserve of self-sustaining wealth. And if your are spending all that you're earning now on consumable items, then no matter how high your income is you will never be able to save enough to support that same level of expectation later. So you will always live paycheck-to-paycheck and you will experience a sharp decrease in living standard if you do retire. The point is that we need to plan our lifestyles/spending habits taking into account the present AND the future.

Rating: 5 stars
Summary: Makes wealth seem more real and obtainable
Review: Stanley and Danko provide a pretty damning look at our consumer culture and make a clear distinction between wealth and income. This book changed my outlook on money in a profound way and I can say that about few books. It is well researched and well written. The authors can not only crunch numbers, they can tell a good story.

Rating: 1 stars
Summary: Dribble!
Review: Come on, people. The theme of this book is "you too can be a millionaire if you are really tight with your money." If that is all it took, the world would be full of millionaires. Is that how Bill Gates or Ted Turner got rich, pinching pennies? The theme just sops right up to the impoverished masses who seem all too ready to plunk down a few bucks for a book that promises that it can make anyone rich. Go ahead and buy this book if you think that making money has nothing to do with hard work, talent, dumb luck, knowing the right people, etc.

Rating: 5 stars
Summary: An accurate accessment of "true wealth"
Review: As a financial consultant, I recognize the habits, in my most successful clients, that Mr. Stanley and Mr. Danko identify and highlight as key elements in accumulating wealth successfully. If people have not already achieved financial independence, then this book serves as a great "how to" guide. Identifying and emulating the common planning habits of "prodigious accumulators of wealth" (PAWs), will aid any individual in their quest to achieve financial security. An eye-opening report on how to accumulate wealth.

Rating: 4 stars
Summary: Follow-up study needed
Review: I propose the authors do a follow-up study on the people who have complained that this is all just "common sense, endlessly repeated." My suspicion is that the complainers are overwhelmingly UAWs who are not following this supposedly common sense.

Cut the authors some slack for hammering their point home so thoroughly. After all, the world is full of people with thick skulls. You'll find them chatting on cell phones while tailgating you in their leased BMWs.

Rating: 5 stars
Summary: True Millionares aren't what, or who, you might think.
Review: The fancy cover caught my eye on the Barnes & Noble display case. I picked it up and read a few of the highlights and comments. It seemed to focus on an angle that nobody had ever looked at before. I really enjoyed the true facts and jobs of many of these case studies and was shocked to find that most never purchase a brand new car or other secrets such as that. Some chapters could have had a few less detailed graphs and charts, there seemed to be quite too many given the length of the book, but it re-enforced the power and authenticity of the authors words. Much can be learned and gained from this book; I know I did. If you've got some extra time and need an interesting book to read, this is the one.


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