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Summary: The Millionaire Next Door
Review: I found this book to be very insightful and informative, as well as an easy read. Stanley and Danko prove themselves to be experts in their field, and I feel that I can trust their great advice. This book is perfect for those who are very hardworking and fiercely determined to actually become a successful millionaire.
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Summary: Just Common Sense
Review: This book was very easy to read. The author's points seem very obvious when you think about them: to become wealthy, you need to save your money instead of spending it on frivolous things. Basically, the authors stress living below one's means in order to accumulate a decent amount of money. This book would be helpful to anyone wondering what they can do to become wealthy, but for the most part it is just common sense.
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Summary: What you really don't know about Millionaires
Review: Thomas Stanley is a brilliant man. His novel was very compelling and impossible to put down. This is the only book i have ever finished front to back. It is an outstanding piece of literature. Everyone should read this book so that they learn who millionaires really are. They are not as greedy and selfindulgent as you may think.
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Summary: Interesting, But Too Long
Review: There are some helpful bits of information in this book, not the least of which is the recognition that the vast majority of America's wealthy are not featured on "Lives of the Rich and Famous." Most of the wealthy are actually fairly common folk with a propensity to be frugal and invest. This is helpful information for the rest of us who have always believed that to have a great deal of money, you either had to be very lucky, inherit a windfall, or have a really high paying career. Turns out that's not necessarily the case. This book does a good job of helping to dispell some of the myths, such as "high income earners are the most wealthy." This book points out that high income earners are also prodigious spenders, and often their net worth is well below what it ought to be!The down side to this book is that it repeats itself a great deal. You learn over and over again about the spoiled children of the wealthy, and their reliance on "Outpatient Economic Care." You learn over and over again about the fact that roughly 2/3 of the wealthy are private business owners. It is also a little data intensive, which might have been useful for the authors in writing the book, but really is somewhat extraneous for the rest of us. This is good perspective building material, but be prepared for the redundancy.
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Summary: Not really impressed!
Review: This book was written years ago and although it was ground breaking information then it basically gives statistics and generalities on the rich. Its message about being frugal and investing is repeated in a number of wealth building books. Not worth the hype!
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Summary: An Entertaining, Insightful and Helpful Book
Review: The Millionaire Next Door is a book that will completely change a person's way of viewing the wealthy who reside in the US. It paints an accurate and indepth picture of the true millionaires of our country and how they became that way. The book is very straight forward with lots of statistics, which at times can be tedious, and anecdotes that help explain the different concepts presented in the book. Anyone who reads this book will take a lot away from it and will want to explore the area of affluency and economics in general in greater depth. There were times I could not and did not want to put the book down just because I wanted to learn more and see what it is was I could do to get myself on the path to financial independence. The book is wonderful in the sense that it is well-organized, repeats the most important ideas so that you do not forget them, and makes a very important note that anyone who is dedicated, hardworking, and plays both "offense and defense" has the ability to become financially independent and truely wealthy. Overall this book is brilliant and I recommend it to anyone who wants to learn what it takes to become an affluent member of our community. I would definitely recommend this book to teens and young adults since it will have the most influence on them and interest them greatly since they want to know how to make the most money possible. Anyone who reads this book will not be disappointed and will learn a lot from it.
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Summary: Oh, how I wish I read this 30 years ago
Review: All of my children and children n' laws, Must read or listen to this book. Oh, how I wish I would have read this book in 1971 when I graduated from high school. This book will show you how to accumilate wealth and still live comfortably along the way. Where you end up in life comes from many different choices you make in your life time. This book is your road map to making the choices that will allow you to retire, really retire, and have the nestegg you will need. If you don't read this book until you are my age it still could help you,(not nearly as much) ...It's not over till it's over.
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Summary: save and save!!!!!
Review: it's a very good bbok about how to becoeme wealthy in a single lifetime by having a check on one's own needs and a lot of financial planning.must read for everybody who wants to become wealthy.
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Summary: An open door into the lives of the wealthy in America
Review: Just so you are warned, in the beginning the book has a hard time catching your attention, and I think it is because of the incredible amount of stats about the rich (and not so famous) of America. This is something you get used to, since it doesn't change: chapter after chapter these two Ph.D's support their research with a massive amount of data. However, the real meat of the book is summarized in these seven common denominators that the authors found underlying all those who succeed at building wealth: 1) They live well below their means. They live frugally by operating on an annual budget, knowing how much they spend in each category, having clearly defined financial goals and spending time planning to achieve them.
2) They allocate their time, energy, and money efficiently, in ways conducive to building wealth. They plan, they budget, they are active investors.
3) They believe that financial independence is more important than displaying high social status. They don't think that you are what you drive: in fact, most of them don't spend money on cars of the current year.
4) Their parents did not provide economic outpatient care: they were not helped economically by their parents, at least not in a way that built financial dependence.
5) Their adult children are economically self-sufficient: they don't stimulate economic outpatient care, they teach them to "fish."
6) They are proficient in targeting market opportunities.
7) They chose the right occupation. To close, I'd like to quote what I consider to be one of the wisest pieces of advise in the book, since it touches on a huge component of the expenses of most people, their home: "If you're not wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your householf'd total annual realized income." Amen! Complement this reading with "The Richest Man in Babylon" and you will have paved the ground toward financial independence and building wealth.
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Summary: $ave your money
Review: Living in Santa Monica, I have several millionaires next door, and thus it is not suprising that my image of a millionaire is some one in a Mercedes Benz wearing expensive clothes. Dr. Stanley and Dr. Danko present the much more interesting and tangible millionaire case. The most interesting statistic from the millionaires was their answer to the question of
"Is your wife more frugal than you?" With most millionaires answering yes, it reinforces what my friend once said, "Her money is my money. My money is her money. You better go find your purse." The book stresses saving, saving, saving. Ironically, if you read this book, you would see how important it is to save your money and get the book from your library.
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