The Millionaire Next Door
The incredible national bestseller that is changing people's lives -- and increasing their net worth!
CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?
Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
Where did their ancestors come from?
How did they get rich?
Can I ever become one of them?
Get the answers in The Milli...more
1.They live well below their means - They are frugal,frugal, frugal. They make more than they can spend. Pretty cool.
2.They allocate their time, energy, and money efficiently, in ways conducive to building wealth - How else did they get there right? Well this goes for those millionaires who didn't inherit their wealth.
3.They believe that financial independence is more important than d...more
95% of the millionaires own stocks - most have 20% or more of their wealth in publicly traded stocks.
Build a good money team: accountant, attorney, financial advisor, and you (and spouse).
Looking to build your money team? Ask your CPA. If you do not have CPA... get one.
Be frugal, know your financial picture, and have goals with your money....more
The book categorizes people as PAWs or UAWs; Prodigious Accumulators of Wealth (PAWs) achieve, create wealth, become financially independent, and build from scratch. Under Accumulators of Wealth (UAWs)...more
One driving a Benz is quite likely less worth than one driving a Ford F150 (since the Benz owner has already spent money). Max price paid by 75% millionaires for: Suit $600, Shoes: $200, watch $235 (50%)! JCPenney has toughest quality control amongst all stores. Millionaires' wives are all frugal too. They save coupons etc...
1. All have annual household budget
2. All have accountant
3. All have investments in stocks, real estate, business etc
4. Shopping method...more
Hopefully this won't spoil the book, but here are some interesting s...more
You should guess that small business owners compose the largest group of millionaires in America. Also, it has always been obvious to me that the people who save and inve...more
The book is filled with lots of fascinating facts and statistics. The authors...more
A very large portion of it focused on how handicapped the children of some of the wealthy become due to their parents lifestyle or the VERY genero...more
The key message from this book is that materialism is at odds with g...more
It is not written about the majority of us. It is written FOR the majority of us to make us believe that wealth is everpresent and easily accessible in our society.
The numbers are often listed in a manner that does not acknowledge any actual analysis. Nor is inflation considered with any degree of seriousness. As most cheerleading books for market boosterism it gives its sideways genuflection to supply siders by completely ignoring the operating differences between income and wealth.
This book reaffirms those of us who have chosen a lifestyle of living way below our means and making decision with our personal finances to meet personal life goals. If you have ever had an interest in learning more about how the truly wealth live, read this book...more
Having gone through my entry-level working phase I'm observing how some friends fell into the trap of accumulating credit card debts, failing to pay their student loans, buying a bigger mode of transport than necessary, shunning public transportation, going on lavish vacations with their bonus...more
I did, however, appreciate the statistics on the offspring of millionaires and inheritance. It was very interesting that giving your kids money, especially early in life, tends to lead to...more
My attention span for statistics is not great but I did get the point.
The conversation between the taxman and other man made me look into tax management and this is why I picked "Tax Insight: for tax year 2012". Also a good book to plan before the year and save in taxes as well.
At points the book f...more
And the title is so true...the person driving a new, luxury car every two years, taking the most extravagant and frequent vac...more
With the hard effort of research on millionaires, Stanley have pointed out the real millionaires were totally different of what you used to think. If you see a guy riding a luxurious car, wearing...more