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

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Summary: How Ordinary Americans Realize Financial Freedom
Review: Many rely on "Big Government" or "Others" for Security and personal wellbeing. The Authors lay out the basics of "using" our great system to "be personally responsible" for youself and family. A look over the reviews below reveals the vast difference in approach to personal financial freedom. This book outlines the TRUE approach that will lead to the systems greatest gift -- Financial security during one's own lifetime PLUS the assurance of not being a financial burden on one's own family or other members of society. The Authors have captured "old ideas" that still are the ONLY ones that ASSURE these end results. Good reading -- A must for your Children, too!

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Summary: Useful but incredibly depressing!
Review: This is not a bad reminder of what we all know--save and invest for better financial health. But the lifestyles of the millionaires mentioned were depressing! "My favorite charity is me"???!!! These aren't the kind of people that made our country great--these people are caricatures--an extreme end of the spectrum where greed is the motivating factor for everything!. I don't buy it

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Summary: It Makes $ents!!!
Review: Answers most of the questions one would ever have about the wealthy. Useful information for those working toward similar financial goals

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Summary: A must read! This should be given as a graduation gift!
Review: I was interested in this book when I read the quotes in the Wall Street Journal. I am a CPA that assists clients with long-term planning. Many of the comments are in line with my thinking, but I'm always looking for another way to express the theories. I am so impressed with the the writing style. It was easy to understand and a quick and entertaining read. I've purchased extra copies to give to clients. This book is a great way to introduce basics without overwhelming or turning off people. It would make a great graduation gift, for high school, or college.

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Summary: Excellent explanation of why I ain't rich.
Review: Good description of the attitudes and activities required to gather a fortune in one lifetime with "ordinary" job earnings. Discouraging discription of what these people do with their money--basically just hold it and "watch it grow." Sort of like watching the grass grow. There are many tables and charts poorly prepared and nearly incomprehensible. The text however is an easy read

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Summary: Some interesting facts, but repetitious
Review: The book started out good (interesting, unexpected information), but went downhill after the first few chapters. The authors talked about how millionaires buy a car AD NASEUM. Gee, how many chapters can they devote to car buying? The "advice" in the book was common sense that we all know, but may just need to be reminded about from time to time. Save your money, live below your means, etc., etc. Although I looked forward to reading it, this book was a disappointing

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Summary: Take this to heart, and no one will invite you to dinner.
Review: The authors take about 30,000 words to say the following: save your money, don't spend like an idiot on dumb ass consumer items, and invest like a maddog, and you, too, can have a whole bunch of money when you die. The problem is, you end up with a rather dull life. Its useful to take some of the lessons from this book, but, for Goddsake, don't turn it into a mantra. Or else you'll be wearing crappy suits and driving dull pale blue sedans youre whole life, counting your pennies and behaving like a cranky old miser

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Summary: May not be the only way to be wealthy but sure is logical.
Review: Nice book regarding the paths to success. Has a interesting automobile price/pound table. I enjoyed reading this even if I may not be the one next door. If the steps are followed I think if one is not wealthy as the authors descirbe in the book, one still is better off

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Summary: Logically flawed and banal.
Review: The basic premise of this book, that everyone wishes or shouldwish to accunulate wealth, is unexamined by the authors and ispatently false. The methodology is equally questionable. Surveys by questionaire,when the respondents are self-selected, are always suspect, although they do allow people so inclined to construct impressive tables for that quasi-statisical look. And don't I recall the impecunious Mr. Micawber teaching the young David Copperfield the same economic lesson as this book teaches: if you spend more than you make, you will go into debt, but if you spend less than you make, you will accunulate wealth? Of course Mr. Micawber didn't put an arbitrary figure on what wealth amounted to.

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Summary: Curious information about the country's wealthy misers.
Review: The authors present curious information about the wealth of America's millionaires. For example, information on the cost of clothing is derived from answers to questions like "what was the most you've spent on a pair of shoes?" from people who are admittedly their "own favorite charity." Similarly, the authors interpret wealth as something valuable, but, it seems, nothing useable. Once a millionaire changes intangible worthy valuables to tangible, real, useable assets, the tax man will take a large portion of it away. The book leaves me with the question: What good is it to amass large stores of wealth if only to be able to calculate and recalculate wealth - and never to use it to further life's enjoyment? The authors don't even advocate liberating some of that wealth onto adult children or others who might apply some of its value in enjoyment. I did enjoy the interpretation of offensive/defensive wealth and how most Americans are good at offensive wealth building -- we are a culture based on income levels. However, we could stand some lessons rather than scolding on how to be better defensive wealth builders -- i.e. less consumption. But I return to my primary question: what is the value of wealth, in accumulating wealth, if it is just to to be accumulated and admired (valued) but never touched or enjoyed?