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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: 4 stars
Summary: A little tedious but a good read.
Review: This book reads well but it is a little tedios. Many points could have been summarized and more real life examples could have been thrown in, to make it more interesting. Nevertheless, it was insightful and if you read it all, there are many lessons to be learnt. I think those that criticise the authors for suggesting one can become a millionaire at the risk of having no life are missing the essential point. The authors state that these millionaires, who made it by careful money management, are happy because they are financially independent. It is having that security which gives them happiness. So, if financial independence is what you desire the book tells you to modify your life in order to achieve it. If you don't want financial independence then don't read the book but be warned about your old age which could be a time when choices will be pretty limited.

Rating: 5 stars
Summary: The best book on American Finance I ever read!
Review: I am a 39 year old millionaire and read the book before it was on the best seller list. As a CPA, I see the mistakes that many people make with their finaces.

It truely is not what you make, it is what you keep after taxes that matter.

The authors know exactly what makes a millionaire-$1,000,000 in net worth. You can not be a millionaire if you spend more than you make

Rating: 1 stars
Summary: Waste of time
Review: After the first 3 chapters skimmed the rest. What a waste of time. There is nothing in the book which shouldn't be obvious to the most common layperson.

Then only points I got from the book are; 1. Live within your means. 2. Get a well paying job.

Some of their examples are sooo one sided. In one case they state that the rich don't move their investments around and invest for the long-term (buy and hold). Yet on the very next page they state that they spend alot more time on their investments than the underachievers, something like 250hr/year. I don't get this, 250hr/year to do what? They buy-and-hold! That's way too much time for this investing method.

Another example is when they look at car buying habits. One guy is buying for utility purposes and another guy is buying because he enjoys fine cars. Two totally different situations. The latter is enjoying the act of researching/buying while the former is more interested in saving money and gettng a car. The book ignores this important fact.

Be frugal but enjoy life at the same time.

Rating: 4 stars
Summary: Read and become a millonaire!
Review: I read the book expecting more, got less. There were many pages that I skimmed over. The main idea of the book is repeated over and over and over and over. Even with that said I still think that it is worth your time if in fact you do have an interest in becoming the next milionaire next door.

Rating: 5 stars
Summary: I'm buying copies of this book for all my friends!
Review: I'm a 30-year-old female who's been working HARD for eight years, but (sadly) has little -- if anything -- in the way of savings, to show for it.... I'd always thought that "financial health" began and ended with the ability to pay one's bills, nothing more. Like so many people I know, I'd always spend my weekly paycheck down to zero.... Then I read one of the examples in this book, about a financially stuggling couple who smoked three or so packs of cigarettes a day, over a forty-year period.... And how much $$$ they'd be worth today (well over over $1 million dollars) if they'd taken JUST THEIR CIGARETTE MONEY (no other cash) and invested it in the tobacco company that manufactured their smokes.... If we all adopted this "PAY YOURSELF FIRST" philosophy, we'd be much, much better off... as families, and as a nation. Get this book (and eat your fruits & veges), and you'll have a much happier future....

Rating: 5 stars
Summary: JUMP START YOUR PROGRESS TO RICHES
Review: The most extraordinary finding in this study is that you can live next to millionaires and not know it. Today's millionaires are people just like us. Although the book describes what they wear, what car they drive and how much education they have there are no mansions and few Rolls Royces. I believe that these millionaires were influenced by the vast baby boom, creating so many but less ostentatious millionaires. How will the next generation show their values and wealth, when there are so many fewer of them? In a new book by Mitchell, , Coles and Metz, called THE 2,000 PERCENT SOLUTION, they talk about the Misconception and Disbelief Stalls that hold back progress. To understand THE MILLIONAIRE NEXT DOOR you must free your thinking and leave these stalls behind. Today's millionaires are different from the stereotype and your neighbors may be among them. You may also become a millionaire, and there are a few ideas on how to get started. Read THE 2,000 PERCENT SOLUTION to free yourself of your stalls and open your eyes to the potential for progress. Read THE MILLIONAIRE NEXT DOOR to open you pocketbook to the potential for wealth around you.

Rating: 2 stars
Summary: The Old Boring Man Next Door
Review: The lives chronicled in this book are pretty sad. Especially the guy and his fiance who pride themselves on never going out. Get a life

The book has some interesting ideas. But it never covers the concept of compounding. Compounding over time has enormous impacts on our personal balance sheets

You need to take away from this book that there are sacrifices you need to make to become financially independent. Just don't go too far

Rating: 2 stars
Summary: Just read the book jacket - one million times
Review: The review titled "Interesting thesis - boring delivery" could not have said it better. At first, I found the book interesting. It was interesting to see that such a subject could be studied and a thesis-like approach could be used. But the conclusion of the book was on the book jacket. And it was repeated throughout the book. When I was finished with it - I felt really empty. The "surprising secret" of the wealthy? It was no secret and it was not surprising. Of course you have to be thrifty to become rich. The authors' advice was more or less "never spend money" and I think that is a wrong advice to give. You should work hard at life and with your hard earned money, you should use it wisely. Using big sums of money is not wrong - it can indeed be an investment if you are using it using it for purposes such as education. But if you are wasting money, even a penny is too much.

Rating: 4 stars
Summary: It may be logical, but it's good reinforcement anyways....
Review: This book is an excellent exercise in introducing the basics of intelligent money management to the masses. Much of the book is basic, but for many, the principles presented won't seem so obvious. The majority of the American public suffer from overspending and a lack of savings for the future. The book doesn't use scare tactics, but nonetheless effectively points to the lack of a long term financial strategy for most American families. I agree with almost everything in the book, however, my only criticism is that it perhaps goes too far in stressing frugalism. You should be able to enjoy the fruits of your labor to some degree. It is all a matter of priorities. All in all, a sound book, and may I say a brave one. Not many people would have the guts to take some of the unpopular stands the authors take. Well done.

Rating: 3 stars
Summary: Will appeal to a certain personality.
Review: Although the book makes many excellent points about thriftyness and the importance of saving, it almost insults the intelligence of anyone who wants to break out of a mediocre state of mind. Can you imagine, for example, Donald Trump, Ron Perelman or even your average investment banker buying a suit at JC Penneys just to save a few dollars? Better to take some of the books' advice with a grain of salt than to accept it as gospel. Some of us need our royalty aspirations and our luxurious dreams, together with a strong eye for security and common sense.


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