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The Education of Millionaires: It's Not What You Think and It's Not Too Late
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The Education of Millionaires: It's Not What You Think and It's Not Too Late

4.0 of 5 stars 4.00  ·  rating details  ·  1,023 ratings  ·  92 reviews
The myth: If you get into a good college, study hard, and graduate with excellent grades, you will be pretty much set for a successful career.
The reality: The biggest thing you won't learn in college is how to succeed professionally.

Some of the smartest, most successful people in the country didn't finish college. None of them learned their most critical skills at an inst
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ebook, 272 pages
Published September 29th 2011 by Portfolio
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Aman
This book essentially boils down to a number of simple ideas:

1. Being good at something does not mean you'll become wealthy, and going to college or university isn't a free ride to the good life.
2. Leaning how to be successful (ie, earn money from) an activity is as valuable as becoming adept at that activity.
3. Success is based on your ability to market and sell yourself, which most people see as morally fraudulent.
4. Soft skills (networking, mentorship, learning how to create meaningful relati
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Heather
This book overall is a waste of time. The title is catching which makes it very misleading.

I thought I was going to be reading a business book about detailed case studies of successful businessmen and women. Instead I got a book that is nothing but a veiled pitch for the internet marketing industry and many of its fraudulent "leaders" like the dreadful shyster Frank Kern. What this means for you dear reader is that is book is a waste of your time. The few stories of millionaires that are in here
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Nick Brown
Author Michael Ellsberg masterfully puts together a hard-hitting book that tackles the question, "What education or knowledge is necessary to lead a successful life?". It may surprise you like it did me that that answer has little to do with what you learn in school. Michael lays out his 7 success skills - essential skills needed to succeed in life no matter what your occupation or interests. Those seven success skills are:

- Success skill #1: How to make your work meaningful and your meaning wor
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Chung Chin
This is personally, the "2012: My Book of the Year". It will be THE book I am going to recommend to everyone I meet, until another better one comes about - and I don't think that will be anytime soon.

This is a book that teaches you how to teach yourself on a number of things. What are those? Read it to find out!

If you intend to read this book to:
1. Find out quick techniques to be a millionaire or
2. Secrets of how to be a millionaire or
3. Just about anything that has to do with short-cuts to get
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Dan
I read this book based on a guest blog post by the author, Michael Ellsberg, on Tim Ferriss’s blog. Needless to say, I enjoyed the blog post more than the book. While I agree with the author that we need to take a serious look at higher education, I am not sold that college is unnecessary if you want to be an entrepreneur and own your own business. The author makes the case that anything worth learning in life happens while you are out doing something. Learning by actually experiencing success a ...more
Jamie Doerschuck
I had to laugh at the couple of reviews that commended the author's "mature" prose style. Michael Ellsberg's writing style is anything but mature, he frequently stoops to insulting the opposing argument (or any view point he doesn't personally agree with). Ellsberg also makes lots of broad statements, in this case I'm particularly referring to statements that are attempting to be passed off as statistics about higher education, without offering ANY kind of evidence or source.

I don't disagree wit
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Triţă Făniţă
I'm giving this book 1 star because I believe it is a rip-off. It is nothing more than a well-conducted sales act. The author profits from the current trend and popular belief that you can be a self made millionaire and presents some techniques as to how this status can be achieved.

However, as many other self-improvement books, his messages sound very good and promising, yet they fail to deliver in practical real-life situations. He also spends a lot of time talking about his associates and what
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Angie Banicki
A very fast read and so positive and inspiring - reading this book, i was reminded to keep finding people who I can learn from and to continue helping those who inspire me
Josh
Some of the advice is good but also fairly commonsense. A lot of it smells like typical self-help mumbo jumbo to me. The author also pushes a lot of other self-help books and self-help seminars (that sound pretty expensive) that are written and presented by people that he counts as friends. The author does seem genuine but I also think that he is a little too down on higher education. I completely agree that higher ed. isn't for everyone but I don't think that it has no value. He pretty much onl ...more
Jenny
Ellsberg's book is a referendum against the notion that higher education is mandatory for self-made success (in fields other than law and medicine that require highly trained professionals). The book comes at a critical time as more and more graduates find themselves buried in debt but without a job to show for it.

Through dozens of in-depth interviews with movers and shakers, Ellsberg uncovers what he sees as the seven key self-education categories for career success -- that they DON'T teach you
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Tom Kamei
I thought the general idea of this book was great, college no longer provides students with a practical holistic education that prepares you for the modern job market (which no longer resembles the post-war US society where employees are lifers at corps like GE).

Maybe I unfairly took issue with the delivery, because the advice was practical, but overall it felt angry. Like the author had been wronged and he was trying to admonish college (and all those who got degrees or participated in the bro
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Adil Najmuddin
Two of my favorite parts from Ellsberg's book are, in quotes:

-"There are two decisions you need to come to in order to be free, and to be more effective. First is that you are not entitled to anything in the world, until you create value for another human being first. Second, you are 100 percent responsible for producing results. No one else." pg 200

-Engage in "what outcomes [you] specifically want to create in your life, and then relentlessly engage in only the activities directly related to pr
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Alexander Berger
The Education of Millionaires is what Rich Dad Poor Dad should be: A realistic AND inspiring guide promoting self education and the entrepreneurial mindset. Michael explains how to learn and practice 7 fundamental skills that he found to be essential to entrepreneurial and career success. An article that Michael wrote to promote his book (Here: http://bit.ly/PPkNBR ) inspired me to give self education a good chance by providing a realistic plan to achieve my goals, this book provides more depth ...more
Jared
Honestly, I think the title of this book is unfortunate because it will both turn away people who would like the book (as it did to me, the first time I saw the title) as well as lure in unsuspecting folks who are looking for something more traditional (e.g. some of the other reviews here).

I thought this book was going to profile the "charmed" (read: privileged) educational lives of famous rich folks--and this impression is what initially caused me to spurn this book. Later on, I decided to take
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Jen Burstedt
For most kids growing up in the US today in the middle class, going to college is the dream of their parents and the expected next step after high school. Myself included, I went to college without even thinking that there was an alternative. This book paints the picture of multiple millionaires and highly successful people who never went to college - and some who did - making the argument that higher education today does not provide the necessary skills needed in today's competitive world.

Great
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Sergey
В русском переводе книга называется "Миллионер без диплома", что, как мне кажется, слегка расходится с сутью книги. В ней показано, что высшее образование не залог успешности, а под успешностью понимается как раз финансовая свобода. В/о просто напросто забирает время и деньги – важные ресурсы, которые необходимы в процессе предпринимательской деятельности. И только построив свой бизнес, по заверению автора, возможно постичь настоящую свободу. Конечно, не все способны на это, и поэтому большинств ...more
Dara Saoyuth
This is such a great book I would recommend for all startups to read. The book provides interesting examples of those who drop out of school but then made successful business on their owns.
Pat
Great in concept, very poor in execution.

I made it to page 112, when the inexplicable condescension became too much to bear. "If you're not already sold on the importance of learning marketing, seriously, put this book down and go join the International Socialist Organization - I hear they're recruiting." Sounds a lot more fun than reading another 120 pages of this bullshit. Consider the book put down.

This is one of the many brash, unsubstantiated, unenjoyable and entirely unnecessary proclamati
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Shane
Jun 08, 2014 Shane rated it 4 of 5 stars  ·  review of another edition
Recommends it for: People looking to gain a competitive edge, as well as those interested in self-education.
Shelves: business
This is a good book. Mostly it helped me see that whatever line of work you are in, to be successful and out-work those around you, you have to bring something more to the table than a prestigious degree. Many people have degrees. As I've learned the hard way, there is a big disconnect between success in academia and success in the "real world." The question this book helps you ask (and answer) is: "What do you (or can you) bring to the table that differentiates you from many other degree-bearin ...more
Sam Klemens
I think that this book has had more of a positive influence on me than any book I've ever read. I say that based on two things. One, it gave me an entirely new way of looking at college, working and how people make money. I read it about two months after I graduated from college and face-palmed fairly hard several time. I'd still probably go, because how I was at 18, I wouldn't have known how to use this book anyways. But as I've told my Sister who starts college in a week, you're not reading th ...more
Jina
Ellsburg is writing for Gen Y: sold on the value of college, burdened with as much as $100k of non-dischargable debt, unable to get a job, living in their parents' home. His proposed solution is to make yourself valuable to employers by building your network and having something to offer that network by teaching yourself the skills commonly in demand with successful businesspeople. These skills are: sales and marketing, fitness and diet, successful romantic relationships, spiritual meaning, and ...more
Tyler
Michael Ellsberg, in "The Education of Millionaires", argues the educational model in the United States is not only responsible for perpetuating an "employee" versus an "entrepreneur mindset", but is also broken, too expensive, and ill-suited for the chaotic, flat, disruptive, and digital world in which we live.

Mr. Ellsberg began his freelance writing career doing direct-sales copywriting, where he surely learned how to wrestle his prose into a form that it is both efficient and moving. This boo
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Eric
I think the reason I loved this book so much is because it was exactly what I needed to read. Recently I've been doing a lot of thinking about my life and what I'm going to be doing with it. I decided not to go to college and I've been thinking of starting a business. But I never realized how much work I have to do before I can start thinking about being successful.

This book is look at traditional education and the many flaws with the system, but there is much more to it than that. The educatio
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Adam Moore
I had absolutely no idea what this book was about when I started reading it, however I am glad I did! This books primary focus is on the premis that formal education is no longer teaching the skills required for young people to succeed in business and entrepreneurial endeavours.

The book teaches that certain self learnt skills can make the difference for any person looking succeed in business. The author interviews numerous success stories all who either never started or dropped out of formal ed
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Jennifer Cooper
It wasn't what I thought. I actually thought this was a book on investing, for some reason. However it is a pretty timely read for me. I am currently a contractor, looking for "permanent" work, and questioning whether to try and stay a contractor or not. In addition, my husband just opened his business.... So yeah.
I think the lessons on sales and marketing will be most useful for me personally, and I appreciate the author's goal of giving readers the ability to educate themselves on these topi
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Aubree Deimler
Wish I had read this book at a much earlier age. I too believed that if I got a college degree, followed by two masters degrees that eventually I would just be successful. This book does a great job of explaining why this thought process really is manipulation into a fact that is no longer true. We are on the brink of another economic collapse as more and more people are over burdened with student loan debt. These students get their expensive piece of paper only to find that their are less and l ...more
Ryan Holiday
As a person who considers the day I dropped out of college the first real day of my education, this book told me a lot I already knew. But, I'm not a millionaire so I did learn plenty. Basically, Ellsberg flew around the world meeting billionaires and millionaires--most of whom were rejected or ejected from traditional schooling--and shares their lessons. And not just the lessons but how instructions on how to replicate their success by finding mentors, tips for investing in yourself and marketi ...more
Andrew French
If you are happy with your meaningless job, college education, and mediocre life... Don't read this book. It challenges everything society thinks is normal.

On the other hand, if you don't want to be chained to the miserable prison of middle class mediocrity, or if you're strongly interested in how people have created wealth, or if you simply have a desire to be more than what society tells you to be, then I highly recommend this book.
Tyler
Fantastic book. Best book to read if you want to strike out on your own and start a business or be a freelance worker or make a difference in your current line of business or are wondering if college is worth it (in one way or another that covers pretty much all of us!)
Katelyn Mater
When I picked up this book I was initially interested in it because I'm a teacher and wanted to read the author's perspective on education systems in the US. However, I got a totally different set of information, interesting (and useful) tips, and the general understanding that I can do what I love and still make tons of cash. I was surprisingly inspired and motivated by this book- never thought of myself as any sort of entrepreneur or business woman. But the tips and strategies and tons of webs ...more
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