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Summary: See into the Millionaire Mind
Review: This excellent book takes a look inside a typical millionaires mind.Interesting stats. Less than 2% have inherited wealth. 98% were self made.Few scored 1400 or higher on their SATs.They became rich without compromising their integrity.Most are married and have chldren and feel that a family complements, and does not compete with success.Vocations are not work, but a labor of love.They are financially indepenent and live a comfortable, not a extravagant lifestyle.They live in fine homes. They are home owners, not renters. They also tend to buy homes when others are selling.Most live in homes that were built over 40 years ago. ONLY 10% live in homes that were built in the last 10 years.32% are business owners. 16% are senior executives. 10% are attorneys and 9% are physicians. Business owners overall are the richest of the group.They attribte their success to these top five success factors:Integrity-being honest with all people.Discipline-applying self controlSocial skills-getting along with peopleA supportive spouseHard work-more than most peopleThe Millionaire Mind is a good read. Great complement to The Millionaire Next Door. I also recommend Marketing to the Affluent by Stanley.
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Summary: Finally, a Tribute to the "Leisure Class"
Review: Ever since Thorstein Veblen wrote "The Theory of the Leisure Class," the critics of capitalism (including politicians and Hollywood producers)have delighted in bashing the rich for their "conspicuous consumption," prospensity to divorce and find trophy wives, engage in white-collar crime, and avoid paying their "fair share" in taxes. Now along comes the exhaustive work of Professor Tom Stanley, concluding that the millionaire wealthy class is in reality the model citizen! 92% are married and have been with their first wife for an average 28 years; they live well below their means; 40% have paid off their mortgage; few inherited wealth; over 90% are college graduates; most are not in the top of their class, but average "B" or "C" students; they avoid the lottery and gambling, and enjoy spending most of their time with their family or playing a game of golf with friends; 37% are deeply religious people who attend church regularly; integrity in business is their # priority, and they pay most of the income taxes in this country! It's great to finally read a book defending the wealthy and the truly successful in this country. My only gripe: The book has no index!
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Summary: This book will bore you if you read the first one
Review: A whole lot of nothing is in this book. I was very dissapointed because I thought there would be something new. But if you already read the first book, then I suggest to you to stay away from this one. There were a few interesting stories like the guy who sold salvaged truck parts and became a millionaire, but other than that, it is a total loss. It is basically a paper weight in my house now. Very dry reading as well. Like many other reviewers have said. Dryer than the first book, and that is hard to top. Also, someone is inflating (and deflating) the helpfullness votes for most of the reviews here. Take a look: If the review is a positive, then it would get over 50-100 helpful votes. And if it was a negative review, it would receive the opposite, 50-100 unhelpful votes. Can you guess which votes I'm going to get? If it's the author himself doing this, then you are a sad sad man.
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Summary: The Millionaire Mind - Must Read for College Students
Review: Thomas J. Stanley's The Millionaire Mind (Andrews McMeel Publishing) is a must read for anyone interested in achieving financial independence and/or who is fascinated with how the wealthy achieve success. This book should be required reading for college students. It is filled with practical advice not just about how to protect one's future financially but also about setting priorities, and I don't mean just getting rich. The Millionaire Mind covers everything from choosing spouses to raising children to buying homes. It is loaded with common sense and practical advice. Achieving great wealth was never my highest priority in life, but I am convinced that if I had read The Millionaire Mind when I was younger, I could have joined the millionaire club. More importantly, like most of the millionaires Stanley surveyed, I could have done so without sacrificing any values, principles, my character, or time with my family. The Millionaire Mind is as much a statement of a philosophy of life as it is a guide to great wealth. Its tone is very positive and reinforcing. The Millionaire Mind dispels several popular myths about wealthy people--that they made their money the old fashioned way by inheriting a bundle, that they graduated from the finest colleges and universities, and that they blew the lid off of SATs and grade point averages. Most of the 733 millionaires Dr. Stanley studied did not fit any of these characteristics. When asked what factors were most important to their success, the top five rated items (out of 30) were #1 being honest with all people, #1(tie) being well disciplined, #3 getting along with people, #4 having a supportive spouse, and #5 working harder than most people. "Graduating near/at the top of my class" was ranked 30th. This list, better than anything else in the book, is a confirmation that character and commitment count and that measures of achievement need to be broadened. How encouraging it is to read a book that says that the American dream still exists, that individuals can overcome inadequacies, disappointments, failures, and seemingly insurmountable odds to achieve success and happiness in life. And it can be done ethically, legally, and in one generation, during one's lifetime, as many of Stanley's millionaires have proven. Stanley and his millionaires are telling us to count our blessings, play to our strengths, believe in ourselves, not let our critics get us down, and take personal responsibility for our lives. His millionaires have been married to the same spouse for an average of 28 years. The majority live modestly for their means, spend considerable time their families, and don't flaunt their wealth. What a potent message this book delivers. I will make sure each of my children gets a copy of The Millionaire Mind and recommend it highly to my classes at The University of Georgia. Dr. Fred Stephenson Associate Professor of Distribution Terry College of Business The University of Georgia March 12, 2000
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Summary: A Great Book
Review: Dr. Stanley's book The Millionaire Mind provides great insight into the mind of a Millionaire. Stereotypes set aside, Dr. Stanley proves through thorough research, statistics, and many tables, that these Millionaires are not just extremely wealthy. Dr. Stanley portrays a millionaire mind as one that everyone should have. It is simply a mind of integrity, discipline, social skills, and of determination. Whether looking to achieve financial success or to be a good person, one should read this book. As a student I have been bombarded with pressure to succeed, to get a perfect GPA, get A's on all my tests, and to study, study, study. Now in the midst of college decisions I feel that I am basically an ACT or SAT number. I have been fooled that my "number" is the determination of my future success, of my job placement, and of myself as a person. After reading Dr. Stanley's book I have been comforted to learn that although counselors, colleges, and some teachers instruct this, the real world doesn't. Dr. Stanley shows that most financially successful millionaires were not at the top of their classes, that their ACT/SAT scores may have held them back, that at some points they hit road bumps and were discouraged along the way, and that they still came out on top. Dr. Stanley shows that these millionaires are "outworking and eventually outperforming the so-called intellectually gifted." Dr. Stanley has proven to me that my hard work will payoff and my creativity and discipline are most important. This book is perfect for any aged person who has been told they will not succeed or who has doubted themselves. This book shows millionaires with a positive mind, a capability of taking a risk, a credit dependent attitude, courage, a hard working attitude, an economically productive household, and so much more. It sheds a new light on the millionaires in our nation and is a great place to start the millionaire in you.
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Summary: What they don't want you to know
Review: The quest for millionaire status has been further fueled by all of the media coverage millionaires receive, both positive and negative. While I do agree that by molding your life according to certain well founded principles you can achieve millionaire status there is still more to it.
In the Millionaire Mind the author does a good job of extracing from his research the common qualities that millionaires share. What was left out, was the actual means that need to be employed to achieve that status. The Millionaire Mind does give us detailed information on the make up of the average millionaire which is fine if one knows how to implement those qualities into his or her own life. Another book that further delves into this subject is the Millionaire Brain, by Donny Lowy. In the Millionaire Brain the author illustrates the hands on approach that allows millionaires to use their qualities to their benefit, in terms of achieving financial success.
There are many good books out there including this one. They can be of great value as long as it is understood that there is an entire art of the correct application of these principles in order to achieve that success.
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Summary: An excellent book needed by everyone
Review: I agree that this book is excellent for young people which is why I give this or The Millionaire Next Door as an accessory gift at graduations and weddings. However,, this book is needed by everyone. With the newest social security information release by Allen Greenspan, never has it been so critical to take control of your financial future. The Millionaire Mind lets you look inside the mind of millioniares and goes beyond The Millionaire Next Door. I also recommend The Automatic Millionaire by Dave Bach, The Truth About Money by Ric Edelman and More Wealth Without Risk by Charles J. Givens.
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Summary: It is a meaningful book
Review: I felt that Dr. Stanleys book was sensational. This text was very well researched and complete. It can take you off that "poor mans" treadmill and onto the road to wealth. I think that the Millionaire Mind is a great program to jump starts my financial life. Besides, it let me get a more understanding on what is the different between the millionaires and the lower-class people and start to learn to learn the millionaires¡¦ life style such as cannot enjoy life if I am addicted to consumption and the use of credit, choosing honest spouse. being courage and money is not my god.
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Summary: An excellent guide for young people!!!!
Review: "The Millionaire Mind" investigates the ideas, beliefs, and behaviors of millionaires. It shows how they build and maintain their fortunes. The book reveals the life of the millionaire. Also, it explores the road to the financial success of them. In the book, we know
how were their school days like? How did they respond to the negative criticism? By what criteria did they choose they field of work? How did they choose their spouse and what are the characteristics them? Why choosing a lovely house is so important for them? Most importantly, how did they seize the opportunity and get the advantages from it? The Millionaire Mind is representative of the study of America's wealthy. It is particularly useful and important for young people. The reason is that, young people is right at the starting point of their life in the society. They may not have a mindset that is mature enough. What they need are positive attitude towards their works, critical thinking and great power of judgment on everything (e.g., choosing a suitable vocation, finding a spouse that matches with u pretty well and also able to facilitate the growth of your career etc.) When we were in college, our parents, teachers, everyone told us the only way for us to success is to work hard on the academic stuff, so as to get a high academic achievement. In the mind of majority, there is a concept: getting good academic achievement = getting a good job in the future = able to earn a lot of money = can have a good wife/husband (mostly, he/she would be gorgeous!) However, is it the only formula? is it the only path of achieving a "success" life?
The author tells that the answer is negative. Apart from getting a very good academic result, there are still other ways to be success. A good student who has good academic results is not equivalent to a good employee. It does not mean that he/she must make big money. There are still many considerations. A millionaire would probably know what is indeed important for them. The Millionaire Mind is excellent for stimulating our thinking. It surely guide the young people to their right way!
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Summary: Excellent tape set
Review: The Millionaire Mind is a great program to jump start your financial life. This is an excellent tape set by Stanley. Listen and learn.
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