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The Millionaire Next Door: The Surprising Secrets of America's Wealthy

The Millionaire Next Door: The Surprising Secrets of America's Wealthy

List Price: $15.00
Your Price: $10.20
Product Info Reviews

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Rating: 5 stars
Summary: Insightful Data
Review: I went through other reviews on this site about this book. I paid particular attention to the reviews that were one and two stars, because I thought the book was insightful. Many of the people that gave the book a low score did not seem to get the big picture or they took many of the topics in the book out of context. According to this book I would be a UAW, but what the book has inspired me to do is to not over extend myself with spending. The book really just gives you a list of priorities that seem to have been adopted by most of the wealthy. Plain and simple the the book brings out some very interesting topics. I see people everyday that drive vehicles that cost 40 and 50k and have large mortgages and do not have even a little money to save. The Book is not titled how to become a millionaire, so please do not get it twisted if you are buying this book. If you want to know how millionaires spend their money buy the book. I think the people that have given this book 1 or 2 stars are those that are probably looking for a way out of their bad financial situations and they could not handle the book because it reminded them that they should not buy champagne when they don't even have budweiser money. The truth hurts but it also helps if you let it.

Rating: 5 stars
Summary: A great book about how the wealthy get wealthier and why!
Review: This is an outstanding book that we can all relate to, and really gets to the point about how consumerism in the mentality of the average American keeps us all slaves to paying bills! A definite must read if you are searching for knowledge about money and how it works (and how it doesn't work, too!)

Rating: 5 stars
Summary: Will teach anyone to save and accumulate wealth.
Review: Although the author loves the saver and shows extreme prejudice against the American consumer, this is a fantastic and motivational book. It takes the pain out of saving and empowers all readers with strength to make the sacrifice. From an investment point of view, it came in quite handy in my profession, where I deal with people and their money constantly, as a financial advisor. Brokers are not taught to ask and advise their clients in regards to their consumption and spending. This book gives strength to the broker who must find out what the client does with their money.

The book's best points are it's revelations about the self-made wealthy American and their tightwad attitudes toward consuming. It was particularly enjoyable to learn about the lack of wealth of those who support the "display and consume" culture many people live in. Perhaps it's best point was in the issue of the more you spend the less you have in net worth.

Very compelling and empowering for those who are either pennywise or those who wish to be. Possibly some of the best financial advice I've read this year.

I also highly reccommend his desktop calendar which reminds readers on a daily basis of the importance of frugality and thrift.

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.


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