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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: Reader from Reston, VA
Review: A good read with sound advice that not everybody wants to hear. I find the reviews fascinating. So many 1-stars from people I can only assume are looking for an easy way to make a lot so they can spend a lot - I can see why they hated it. The authors aren't telling us we can't live a little. Just that pursuing every toy in the Sharper Image catalog will prevent most people from achieving financial security. The book DOES go over and over the main points - but I didn't find it boring, and I guess some folks still didn't get it.

Rating: 1 stars
Summary: Nothing but Waste of money
Review: Nothing but common sense. Don't spend the money the book is long and very boring. I didn't even finish it.

Rating: 5 stars
Summary: Fascinating read!
Review: Absolutely love this book! If you want to know the truth of how people become wealthy, read this book. I thought it was from hitting the lottery, becoming a doctor or attorney, etc. This book illustrates empirically that plumbers, car salesman, and even you and me can become wealthy over time if you follow the lead of the "typical millionaire". This is NOT a 'what-to-invest-in' book. This merely illustrates in great detail how people became wealthy and, more importantly, how they STAYED wealthy.

Rating: 5 stars
Summary: The most informative book on the good life
Review: The millionaire Next Door, is by far the most informative book, on the rich in America, and it is also the most helpful tool I can recomend for anyone who aspires to rise above finacial mediocrity. By applying the knowledge in this book one can rise from a begining of want and lack, to an end of freedom and abundance.

Rating: 5 stars
Summary: This masterpiece turned me onto personal finance
Review: I am 16 years old, and never worried about finances until I was browsing through my teachers copy of the Millionaire on a school field trip. I ran home and bought myself a copy. I couldn't put it down-and when I finished I borrowed more financial books from people I knew. It made me much wiser in my financial decisions and let me start planning for my future.

Rating: 4 stars
Summary: Makes you feel great if you spend and save carefully
Review: Someone once said, "I made myself wealthy by reducing my wants." That's what this book says. Sure, the content is padded quite a bit, but the message is worth what the book costs, whether you are an shining example of this philosophy or an opponent of it: you can spend or you can have, but most of us can't do both.

I agree with other reviewers' comments that the authors found most wealth was accumulated through operating small and boring businesses in your own neighborhood, yet don't recommend this to their readers (nor do those self-made millionaires, in most cases.) And their research methodology is a bit suspect, since it seems to have presupposed that source of wealth in finding interviewees. Still, I agree with the formulas that describe whether you're building an expected amount of wealth based on your age and income.

Bill Cosby, no financial slouch himself, said "The secret of wealth is ownership." This book gives you plenty of examples to help you believe that. It's not what you spend, but what you save, that gives you real independence. It's encouraging to read (maybe in a masochistic sort of way) that lots of high-earners (doctors and athletes, for instance) blow those high earnings and have little to show for it, living (large) paycheck to paycheck. Others, far less educated and with smaller paychecks, quietly avoid wealth-losing expenses such as flashy cars, big houses, and fancy clothes, to succeed in the only true measure of personal wealth: a high net worth. It isn't what you earn, it's what you keep.

I read the book straight through, hooked on almost every word. Where else can you get inside information on people's personal finances and the decisions that led them to their particular state? Maybe the research wouldn't pass close academic muster, but the individual vignettes are fascinating anyway.

So, negatives aside, I think this book is a must-read. You may fault some aspects of it, but the message is one that everyone should consider, even if you find reasons to ignore its conclusions. And if you're a tightwad, you will rejoice in finding vindication of your choices. But then again, if you're that tight, you'll probably read it from the library anyway!

Rating: 3 stars
Summary: The most important financial decisions....
Review: "The most important financial decisions often have little to do with money.

If you smoke, drink heavily, eat to excess and never exercise, you probably won't need that impressive retirement nest egg.

If your only hobby is shopping, you will find it tough to be a good saver.

If you have lots of kids, it will be harder to meet your financial goals.

If you get divorced, you will likely lose 50%, more than was lost in the brutal stock-market crash of 73-74.

I am not saying that you shouldn't have kids, knock back an occasional drink, splurge a little, or that you should stay in an unhappy marriage. But keep in mind that these ostensibly nonfinancial decisions have a financial impact."

from Jonathan Clements column in the WSJ 11/17/98

Rating: 2 stars
Summary: Not much for the money.
Review: I thought the book would divulge some secrets that we normal people wouldn't know. The ideas expressed are mostly common sense things most of us already know. For example, don't buy new cars, only buy quality used vehicles since someone else has already suffered the depreciation. Some minor tips on how to save money, but they should have told us how to save $21.50 by not buying this book. Put the $21.50 in your money market and get a good financial advisor or planner.

Rating: 1 stars
Summary: Wish I had read these reviews before I got the book.
Review: The number of 5 star ratings for this book illustrates how many financial cripples there are in the world. This book is nothing more than common sense (spend less than you earn). About 50 pages would have more than covered the meat of this book. I bought it... and I'm still taking it back. If you have absolutely no idea how to live within your means, check this out at the library, but don't waste your money.

Rating: 5 stars
Summary: READ THE BOOK
Review: This is a book that needs to be read. YOU should read this book and form your own opinions.

I suspect some of the reviewers reactions are more defensive in nature than objective. They may not like what they read about themselves.

This is not a book about how to get rich. It is a book about the habits of a majority of millionaires in America. You may, or may not agree with all of the strategies employed by the "millionaire next door"; but, they are certainly interesting. If you choose to learn something, it is entirely up to you.

Personally, I highly recommend reading the book whether you ultimately agree, or disagree, it is enlightening.

For me, I have learned that acheiving financial independance is within my grasp. If they can do it, then, I certainly can. And, it does not mean living a spartan life-style as some suggest. It means planning and making the right choices. You can become a millionaire and enjoy yourself along the way - just don't overdo it.

Sign me, no hat some cattle.


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