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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

really liked it 4.00  ·  Rating Details  ·  1,778 Ratings  ·  136 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
ebook, 272 pages
Published September 29th 2011 by Portfolio
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Jul 17, 2013 Aman rated it liked it  ·  review of another edition
Shelves: 2013
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
Mar 17, 2013 Heather rated it did not like it  ·  review of another edition
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
Nick Brown
Nov 05, 2011 Nick Brown rated it it was amazing  ·  review of another edition
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
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
Chung Chin
May 09, 2013 Chung Chin rated it it was amazing  ·  review of another edition
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
Triţă Făniţă
Aug 31, 2013 Triţă Făniţă rated it did not like it  ·  review of another edition
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
Andrew French
Mar 03, 2015 Andrew French rated it it was amazing  ·  review of another edition
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.
Angie Banicki
Mar 14, 2012 Angie Banicki rated it it was amazing  ·  review of another edition
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
Feb 23, 2012 Dan rated it liked it  ·  review of another edition
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
Jun 06, 2012 Josh rated it it was ok  ·  review of another edition
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
Oct 24, 2011 Jenny rated it it was amazing  ·  review of another edition
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
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
Ryan Holiday
Jul 05, 2012 Ryan Holiday rated it it was amazing  ·  review of another edition
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
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
Adil Najmuddin
Aug 04, 2012 Adil Najmuddin rated it it was amazing  ·  review of another edition
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
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: ) inspired me to give self education a good chance by providing a realistic plan to achieve my goals, this book provides more depth ...more
Nov 08, 2015 Eric rated it did not like it  ·  review of another edition
He says in the book that his first manuscript got a rejection letter "his writing is not strong enough to make up for the fact that he is not a very like able person." Substitute "writing" for "research" and it holds true for this book as well.

He tells the reader nothing that hasn't been better explained by better teachers elsewhere, all while crouching it as something nobody can teach you but rather you must learn for yourself. He then gives a handful of watery examples of each point, name-drop
Aug 03, 2014 Jared rated it it was amazing  ·  review of another edition
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
Dec 26, 2013 Pat rated it it was ok  ·  review of another edition
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
Jen Burstedt
Feb 17, 2014 Jen Burstedt rated it really liked it  ·  review of another edition
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.

Apr 04, 2014 Sergey rated it really liked it  ·  review of another edition
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
Mar 20, 2016 Luka rated it really liked it  ·  review of another edition
This book is about what you do not learn in college.

It is about social intelligence mostly if you ask me.

Michael says - give and dont look back or expect something in return. Get back eventually instead of searching for use in everything.

When you talk with anyone about their deepest fears, desires and dreams, there is a potential for manipulation.

There are three majorities of people spend most of their time worrying about - money, relationship and health. Very few people have all of three of
Artem Zakharov
Jan 24, 2016 Artem Zakharov rated it it was amazing  ·  review of another edition
I so enjoyed this book! One of the best books i've ever read, enjoyable and has plenty of useful information! This book is eye-opening beyond anything else. When you read it, at some point you will "get it". Get what? You will get exactly what all successful entrepreneurs have. The skills required and the mindset is beautifully discussed by Ellsberg. He uses countless examples of millionaires and tell you their stories, and half way through the book you will begin to spot trends. The best entrep ...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.
Leonard A.  Jr.
This book was good. I didn't like how it ended focusing on the value of college. As. 32 year old man, I'm beyond that debate. Basically, we all need to focus on marketing, sales, and leadership in whatever business we pursue. There are so many different stories about regular people who started off struggling then made their way to success through entrepreneurship. I definitely agree that owning your own is a path toward financial freedom. I'm jot sure if I was expected succinct steps toward beco ...more
Scotty Rogers
Nov 04, 2015 Scotty Rogers rated it it was amazing  ·  review of another edition
List of My Highlights in the Book

"Not one penny of how I earned my income was even slightly related to anything I ever studied or learned in college."

"All of the millionaires and successful people I interviewed for this book said “no thanks” to the current educational model. And with their self-education, they have built businesses, amassed fortunes, helped others live better lives, and even changed the world."

"Yet, up until now, there have been few voices making this obvious point about success
Jun 08, 2014 Shane rated it really liked it  ·  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
Amy Sherman
I didn't care for this book. I didn't really learn anything new. It is really about networking and making a "brand" of yourself. I got that info from some of the other authors this author discusses and/or mentions in his book. If you haven't been exposed to any of it, there might be some value, but if you have experience with these "make yourself a brand and get a following" guys, you have the info already. Work hard, go into business for yourself, and you will learn more out of college in the r ...more
Andris Volkovs
Nov 12, 2015 Andris Volkovs rated it it was amazing  ·  review of another edition
Shelves: growth, favorites
Get the F*ck out! This book is WOW, just.... yeah! <3 After I finished high school/professional education, with each year I more & more realized that stuff that I learned there is just useless in real world. Real BS.
"But you have to have diploma to get a good job...." - F*ck OFF! Your mom & grandma said that, but world has changed massively. You have no guarantee you will get job even with PhD diploma, so STFU & listen...

What M. Ellsberg writes about in this book are basically 7 R
Sam Klemens
Aug 18, 2014 Sam Klemens rated it it was amazing  ·  review of another edition
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
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“The amount of money you earn is the measure of the value that others place on your contribution…. To increase the value of the money you are getting out, you must increase the value of the work that you are putting in. To earn more money, you must add more value.”6” 0 likes
“Here’s a little problem with that plan: the vast majority of jobs are not filled through cold resumes coming in advertisements. Do a little googling on the term “hidden job market.” The hidden job market (also called the “unpublicized job market” or the “unadvertised job market”) comprises all jobs that are not listed publicly or filled through means such as employment ads, job boards, or career fairs. Published estimates typically place the hidden job market at 70 percent to 95 percent of all jobs filled at all levels. In an article published on, Steven Rothberg, founder of, says, “[a]bout 90 percent of job openings go unadvertised, yet about 90 percent of candidates apply only to advertised job openings.”10 Let’s say the correct figure for the unpublicized job market is 80 percent. How are those “hidden” jobs being filled? Primarily through networking and referrals.” 0 likes
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