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Summary: Full of Inspirations and lots of insights!
Review: You've decided to 'think and grow rich'. You've also decided to be financially independent. You've decided to become 'wealthy'. You have determinations and confidence. You are ready to set your goals...wait! But what should they be? What does it mean to be wealthy? What kind of lifestyle do wealthy people lead? This is where the book comes in. You realize that everything obeys the rule of 'cause and effect'. If you follow what a wealthy person do, you too can become wealthy. This book is not a 'How to' book but it shows you both the 'causes' and 'effects' i.e. the things wealthy people do and what they have in the end. Having taken a glimpse of these causes and effects, you are in a much better position to set and evaluate your goals. Everyone knows that it's important to be able to see what you are shooting for in life in order to get there in the most effective and quickest way. This book will give you the insights. Good Luck!
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Summary: Supported by a theorem
Review: The theory of not-so-high-IQ people making large amounts of money is based on the following: Dilbert's "Salary Theorem" states that "Engineers and scientists can never earn as much as business executives and sales people".This theorem can now be supported by a mathematical equation based on the following two postulates: Postulate 1: Knowledge is Power. Postulate 2: Time is Money. As every engineer knows: Power = Work/Time Since: Knowledge = Power Time = Money Knowledge = Work/Money. Solving for Money, we get: Money = Work/Knowledge. Thus, as Knowledge approaches zero, Money approaches infinity, regardless of the amount of work done. Conclusion: The less you know, the more you make.
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Summary: personality,sincerity and honesty are important attributes
Review: Stanley s new book offers much more insight into the values successful entrepreneurs find important contributing factors to that success.It is refreshing in today s world to find long term marriages , honesty and being truly interested in your fellow mans well being are qualities present in these financially well off individuals.Also that courage and hard work go a lot further in today s world than test scores.Very entertaining--- a superb, well written book.
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Summary: Yes, there is more to life than money.......
Review: Yes there is more to life than money, but try enjoying it if your poor or living from paycheck to paycheck. There is nothing wrong with wanting to become wealthy. I found this book to be inspiring and highly informative. I have found that if you want to become something it helps to hang around and study the people doing what you want to do. If you want to become a millionaire study millionaires. If you want to become a musician do what musicians do. If you want to get a great insight into the millionaire mind, read this book.
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Summary: The Millionaire Mind is a Bit Empty
Review: Stanley's first book The Millionaire Next Door gave a revealing well researched view of who millionaires are and how they achieved their wealth. The information presented was objectively verifiable, and quite practical. The book was a revelation in that many millionaires in his study never earned beyond $70,000 a year, yet have accumulated net worths averaging several million dollars or more. In my view, The Millionaire Mind is flawed on two accounts. First, the "Average Millionaire" in this study had an income of about $750,000 per year and a net worth in the $9,000,000 range. To me expanding the study to this very high net worth range is a mixable of two very different populations. It's just not that interesting to know how corporate CEOs and the like manage to accumulate millionaire status on their meager $750,000 salaries. Secondly, unlike in The Millionaire Next Door, the attributes measured in this book are not objective or verifiable in nature. Millionaire's self-describe the attributes leading to their success as being such things as: honesty, integrety, courage, etc. This would be great if these attributes were not self-assigned. As such, I'm not inclined to put much faith in this information. Finally, one intersting finding is that millionaires often were not good students, and lacked high IQs. Some may have had feelings of inferiority. This is good objective information. However, it was presented with great redundancy througout the book. As one of the "Millionaires Next Door", and, therefore, speaking from a position of authority on the subject matter. Stanley's first book was brilliantly accurate, and presented a practicle road map for others. Not so with his second effort.
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Summary: Dr. Stanley Delves Further Into The Millionaire Mind
Review: Building on his research from the best-selling The Millionaire Next Door, Dr. Thomas J. Stanley delves further into the psyche of the American millionaire with a groundbreaking new study, The Millionaire Mind. In an easy-to-understand and often anecdotal style, The Millionaire Mind tells the stories of how people-a bus driver, a second-quality-textile entrepreneur, a Fortune 500 CEO-adopted the millionaire mindset to become financially independent. Dr. Stanley takes a close look at the top one percent of households in America and tells us what makes them tick. His findings on how American millionaires attained financial success are based on in-depth surveys and interviews with more than 1,300 millionaires. Inside The Millionaire Mind, millionaires share their experiences, thoughts, and beliefs on the following topics: - Memories from their school days and personal thoughts on being "the smart kid in the dumb row." - How they find the courage to make difficult financial decisions. - What prompts them to select a vocation and the driving factors behind success. - How they run economically productive households and what they look for when purchasing a home. - Where they spend their money and free time. While we tend to think of millionaires in terms of luxury and expense-i.e. Brooks Brothers, Jaguar, or month long jaunts to Paris and Rome-millionaires admit they are more likely to spend their money at J.C. Penney's or Wal-Mart and enjoy their free time with family and friends, or raising money for charity. Dr. Stanley places fact ahead of fiction and reveals the traits, qualities, and characteristics inside The Millionaire Mind.
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Summary: Now I know why I'm not a Millionaire
Review: I'm just too darn smart! With an M.D. and a Ph.D. and an interest in doing basic scientific research, I'll never accumulate that kind of wealth. Luckily, it is not my goal to do so either.
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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: A REAL EYE OPENER
Review: This book is a real eye opener. It really shows you how brain washed our society is. My daughter is in college and I'm going to have her read this book. Excellent!
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Summary: Sorry, there's more to life than money...
Review: This shallow work assumes that the only measure of success in life is how many bucks you're worth. Forget being kind and compassionate and a good Mom or Dad--you folks are life's losers! Let's tell the truth: Lots of millionaires are just plain jerks (Does Donald Trump come to mind? ). Honesty and integrity got them where they are? Yeah, right. (Anyone ever hear how Ross Perot got rich? ) I'm sure these "success determinants" were self-reported. Who checked up on these people's real degree of honesty, dedication, etc.? I think these millionaires have swallowed their own P.R. and have bought into the Horatio Alger myth. I don't buy it, or this book.
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