Rating: Summary: Statistic galore to send a simplistic message. Review: I enjoyed the book on the whole, but I found myself racing to the end so I could "finish it." The book does offer ways in which to live below your means and I agree with other reviewers in their skepticism of 'not spending a penny."Wealth can be defined in many ways and the goal of being a millionaire for most is: I want millions and I want to live like I have millions. Reading this book changed my view--having a million dollars is no longer my goal--saving and investing what I can, while leading a happy life is much more important than saving or spending all of it. One last point for parents who are passing along money to their children--read the second half of the book. Your children will reflect your values as they pertain to money--be careful what messages you send them with your gifts.
Rating: Summary: Redundant, Boring, No Useful Information Review: "Live below your means". That is the key to how all the millionaires interviewed made their money(not by winning the lottery or big businesses.) Now that you know that, I am sure you can figure out how to live below your means. First up - check this book out of the library for free, like I did.
Rating: Summary: Good information but too repetitive Review: After hearing so much about the book from friends, I went to my public library and found 5 pristine copies of it (no one has checked them out). The information is interesting but I have the feeling that the authors try to milk a short subject into a book as they repeated the same message over and over (millionaires live below their means) and there are too many meaningless statistical tables included in the book. My recommendation, go to your local library and check it out rather than spending 14 bucks for a paper back.
Rating: Summary: Great Book on how to Balance Many Needs Review: This book details the way to accumulate wealth. Especially interesting is the "Go to Hell Fund Chapter". With wealth comes a certain freedom from the "rat race", you can still work hard, but your outlook is different. To all those who say live a little, I say "yes, live but clothes turn into rags, If you want them, pick them up at sales. My wife picks up Polo and Ralph Lauren at half off at good department store sales. Cars rust and get old, but if you want to give the auto companies a $15,000 profit on a sports-ute, be my guest. I work for one and I enjoy the profit. Go ahead, dine out at $60.00 a crack for $5.00 worth of food, recooked from a local food distributor." The point of the book is to stop and think what is really important. You can still enjoy the finer things in life, but use some common sense. Having the biggest and the newest is not always the best. Who are you trying to impress? I believe in their principles and I have seen them work. The only extra I can add is that the more you can do for yourself, the more you will save.
Rating: Summary: Boring - Boring - Nothing new here - Save your money Review: Be frugal - save your money - spend less than you earn - do not become house rich and cash poor - use taxes to help you get rich. This is not an interesting book that has any insight that hasn't been written about numerous times over and over. Let me help you be frugal and put you on the road to being the millionaire in your town. Save your money and your time and invest them in something more useful - which is anything but this book.
Rating: Summary: An absolute must read Review: This book does what a lot of financial planning books fail at and that is to get everything into a down to earth layman perspective. While it is probably not a book on financial planning per se, it is a book that tells you what makes the difference between wealth accumulation and simply living well on your income.
Rating: Summary: A great book, if mostly common sense Review: This book is common sense. Most millionaires(and others who can retire comfortably) do so because they live on a budget and don't spend every dollar that comes into their hands. If you have to have the biggest house and most expensive car you can afford to impress the neighbors, you'll never be rich. A simple lesson, but one most Americans aren't disiplined enough to follow.
Rating: Summary: Misses the Point Review: The problem with this book is that the authors take data about millionaires' spending habits and mold it into a recipe for acquiring wealth. Of course, frugality is key. But whether or not you choose Timex over Rolex, or Buick over BMW is much less important than investing money wisely. And this book does not cover investment concepts like portfolio management and diversification. Furthermore, the reason many of the so-called wealthy are frugal, middle-of-the-road spenders is that their incomes are modest, five-figure salaries, and their net worth conists largely of stocks and other holdings. In other words, these individuals often don't have enough disposable income to be considered truly wealthy and spend voraciously. If the authors at least discussed the "greatest invention of the 20th century" (acc. to Einstein-compound interest-the book might be useful for those looking to start building a retirement nest.
Rating: Summary: The most useless book I have ever read. Review: The whole premise of this book is that if you don't spend any money you will be rich. Duh. You also won't enjoy life. The authors never really even say why you would want all this money that you can't spend. There is definitely one situation in which you should take the authors' suggestion: don't buy this book. If you want a good book on personal finance, get Eric Tyson's Personal Finance for Dummies.
Rating: Summary: If you want to know why you're NOT a millionaire read this! Review: I have received great insight into why I need to change my consumption habits, and be more frugal and don't worry about living it up right now. By doing this, I will become financially independent in the future. Also, that it's not how much you make but how much you save that is really how you can tell where you stand.
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