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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

3.96  ·  Rating details ·  3,307 ratings  ·  204 reviews
Self-education is the key to upgrading your mind and your life.Michael's book teaches you how to unlock the education available outside of classes,all around you. ...more
Hardcover, 258 pages
Published September 29th 2011 by Portfolio
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Jul 17, 2013 rated it liked it
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 12, 2013 rated it did not like it
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
Ryan Holiday
Jul 05, 2012 rated it it was amazing
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
Nick Brown
Nov 05, 2011 rated it it was amazing
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
Andrew French
Feb 17, 2015 rated it it was amazing
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.
Jamie Doerschuck
Aug 30, 2013 rated it it was ok
Shelves: business
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
Oct 24, 2011 rated it it was amazing
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
Tom Kamei
Jan 20, 2013 rated it it was ok
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
Angie Banicki
Feb 08, 2012 rated it it was amazing
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 18, 2012 rated it liked it
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
Chung Chin
Dec 12, 2012 rated it it was amazing
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
Nov 08, 2015 rated it did not like it
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
Apr 29, 2013 rated it really liked it
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
Phil Sykora
Dec 30, 2016 rated it really liked it
Not bad.

I know that's not a rave endorsement by any means, but, if I'm being honest, that's how I feel about it. Reading through these reviews, I can see that other people seem fed up with all of the recommendations he makes to other works, especially when it comes to direct-response marketing,but I don't see anything wrong with that. And, seeing as he's not a millionaire himself, I think it's the appropriate course of action. "These things worked for these people, so study them." It's not the s
Dec 26, 2013 rated it it was ok
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
Mar 30, 2012 rated it it was ok
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
Adil Najmuddin
Aug 04, 2012 rated it it was amazing
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
Sep 10, 2012 rated it it was amazing
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
Jun 08, 2019 rated it it was amazing
Shelves: wealth-creators
Here's a book that should be mandatory for every high school student. College is a scam and will make you a debt slave. You can't get rid of college loans in bankruptcy, yet. Ellsberg teaches valuable skills and life truths that ordinarily take 20 years of more of soul destroying work to learn. He teaches how to start a business, keep it funded, and most importantly retain paying customers. ...more
Apr 13, 2017 rated it liked it
The info in this book is not earth-shattering but it is useful, well-organized, and has interesting bios of people + useful books/websites to use as self-education resources.
oprișor raul
May 13, 2021 rated it it was amazing
## 🚀 3 Sentences about the book

The author masterfully puts together a hard-hitting book that tackles the question "What education or knowledge is necessary to lead a successful life?" and a referendum against the notion that higher education is mandatory for self-made success. The book shares the lessons of billionaires, millionaires and successful people who were rejected from traditional schooling and guides you on how to replicate their accomplishments by finding mentors, tips for investing i
Aug 03, 2014 rated it it was amazing
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
Feb 17, 2014 rated it really liked it
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.

Annie Yang
Jul 29, 2016 rated it did not like it
Catchy title, little substance and content in the 200 pages I can actually use. Between 80 to 90% of self-made millionaires have college degrees. Knowing this statistic, it's quite clear that not all college drop outs can be the next Michael Dell, Bill Gates, or Steve Jobs. Author bashes college education too much. ...more
Amanda Christina
Excellent book! It's sharp and well written with tons of relevant real world examples from successful entrepreneurs. He makes some compelling arguments that hooked me... Definitely worth checking out. ...more
Andreas Kwiatkowski
May 06, 2016 rated it really liked it
Shelves: favorites
A thoughtful and entertaining impulse to reconsider the status quo of higher education and its impact on the lives of young people, leaving college with socially accepted and even promoted debt, with high hopes for pay back by joining the seemingly neverending rat race in high-paid corporate jobs.
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.
Nasos Psarrakos
Oct 07, 2015 rated it really liked it
Nice book. A lot of references for blogs and other books regarding marketing
Alan Wang
Nov 21, 2016 rated it liked it
It's okay. Pretty much generic self-help information. No points really stick with you a couple weeks after finishing the book. ...more
Michael Huang
May 06, 2017 rated it it was ok
Someone once said the trick to becoming rich is not to read a book about becoming rich -- but to write one. This idea kind of applies here. The book is highly rated here on GR, and you might benefit from it if you have never read a book in its broad category. But otherwise, you are likely only contributing to the author's wealth. (Read a library copy if you *have* to.)

Here is a quick summary:

1. First, a lot of anecdotal evidence, second hand opinion, and regurgitated quotes/paraphrases are used
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