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The Millionaire Next Door

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Format: Paperback

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Book Overview

This description may be from another edition of this product. The bestselling The Millionaire Next Door identifies seven common traits that show up again and again among those who have accumulated wealth. Most of the truly wealthy in this country don't live in...

Customer Reviews

3 ratings

This is how the rich become rich

Creating wealth is sort of like dieting.Everybody wants the end result but the discipline to achieve that result is usually lacking.Oh, if only there were a magic pill that you could take to lose weight or to create wealth without changing your habits. We would all be rich.FRUGALITY...FRUGALITY...FRUGALITY. It takes discipline.Contrary to certain opinions i.e. revews posted here, you don't need "a wad" to do this.However, by following these concepts, you will soon have a wad.There is no level of income that you can't outspend and yet most of us feel that we have an unlimited supply of cash.You would think that considering the ever increasing number of bankruptcies and mortgage foreclosures not to mention company downsizings that people would have learned by now. Peer pressure...keeping up with the Jone's drives many people to live beyond their means. Remember this: when your outgo exceeds your income, your upkeep will become your downfall.DELAY GRATIFICATION. Pay yourself first. Invest and then buy toys with the profits.Another good book to read is Rich Dad Poor Dad and Cash Flow Quadrant. Robert . Kiyosaki has a different strategy than Stanley and Danko in certain areas but is in agreement in other areas. The authors work compliments each other and I highly recommend these books to all would be financial achievers.Another book that is popular right now and says some of the same things is The Automatic Millionaire by David Bach.Read and grow rich.

Very useful if you want a financially secure future

This book is fascinating, and very useful if you want to create a financially secure future for yourself and your family. However, if what you want is a materially ostentatious life, the rolex, the cars, the clothes and other trappings of people who live the high life, you won't like this book because its lesson is simple: live below your means, live frugally, save money, invest. The authors went looking for people whose bottom line net worth was from one to ten million. They found that these people are rarely ostentatious, and are very frugal and humble. I found it interesting that many of them are small business owners in very "dull" businesses. Also the chapters on the children of these millionaires was eye-opening. Basically, adult children who receive cash gifts from their parents save less and spend more than children who have to make their own way in the world. The children who know they have to be self-sufficient save more, live more frugally, and actually have more than their subsidized brethren. Very useful book, encourages us to keep on saving, stop spending, live life more fully. Another helpful book like this is "Your Money or Your Life."

Sensational!

The people giving this book one stars and whining miss the point. You can have a lifestyle while building for the future. Nowhere does it say you have to live like a hermit. Frugality is the key. I'll bet that all of the one stars are also living paycheck to paycheck and broke (but having a great time) Am I right??? I also recommend Buffetology and More Wealth without Risk. All three are excellent books and must reading for anyone seeking financial succe$$!
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