Stop Acting Rich: ...and Start Living Like a Real Millionaire
A leading expert on the affluent reveals the real way to build wealth. With well over two million of his books sold, and huge praise from many media outlets, Dr. Thomas J. Stanley is a recognized and highly respected authority on the wealthy, their behavior, and their thinking. Now, in Stop Acting Rich, he details how the less affluent have fallen into the elite luxury bra...more
Most millionaire's out there don't have extravagant houses, cars, watches, shoes, suits, wine, liquor, etc. that we tend to associate with that level of wealth. Most of those high end things are really only consumed by the "glittering rich" such as high-end celebrities. The author contends that real millionaires are quite fr ...more
The latest installment treads upon familiar territory. There are plenty of interesting and useful lessons. Whi ...more
--A surprisingly high % of the country's millionaires are regular people of high-but-not-outrageously-high incomes who live below their means in modest neighborhoods and save a lot and invest conservatively.
--if you want to be wealthy but are not "glitteringly rich", you're better off emulating these everyday millionaires than the wannabes who try to keep up with the Jones's and waste all their ...more
When I was growing up back in the 1970s in South Carolina, we had what we called ten cent millionaires. These were people who wanted to look like they had money but did not.
Stop Acting Rich tells us about these ten cent millionaires. The author ref ...more
Excellent book. A must read ...more
Here's the takeaway from this book: #1 live among peo ...more
I have lived by these rules my whole life and can say I am a multimillionaire by age 40. He puts into words a philosophy that makes sense and makes you a happier person. Don't play the keeping up with the Joneses game. Don't buy into a wealthy neighborhood or a 5000+ sq foot home. If you have more than 10 million, you can afford those things, but if you are trying to get to your first million, those things won't make you happier. ...more
I haven't read any other of Thomas J. Stanley's books, but I have a feeling this one doesn't really cover any new territory. Stanley references the 08-09 Financial Crisis currently going on, but not in any meaningful way. The material covered is enough for a good essay, not a book. It took me back to my college days where you have to get to a specific word count, so you keep repeating the s ...more
Like the first book, it does get redundant. But that's not such a bad thing in this context. The basi ...more
This book focuses solely on the actual buying habits of the glittering rich (super weathly), average millionaires and wanna-be-millionaires who are act ...more
When you trade up to a more expensive home, there is pressure for you to spend more on every conceivable product and service. "Nothing has a greater impact on your wealth and your consumption than your choice of house and neighbo ...more
Fascinating book based on data that, frankly, surprised me. This book will change your outlook. When I see a person in a gilded luxury car ( which is common in Scottsdale,Arizona) I no longer subconsciously assume that he/ she is wealthy. Actually, Professor Stanley has lifted the veil for me, and I now see these folks as statistically more probably un-wealthy. This perceptual change extends to many of the trappings, or artifacts ( As Dr. Stanley describes t ...more
Dr. Stanley's research on millionaires reveals that most wealthy people don't live in large houses in exclusive neighborhoods or drive expensive cars--they s ...more
The concepts here are pretty common sense and the author even goes to the extremes to reinvent accounting principles on net worth, superficial types of rich, to make his studies appear somewhat revolutionary.
All this book will do is make you obsess over you money more so than yourself. It’s money worshipping in short, when you should be working on (worshipping) yourself in order to either get a better job ...more
I would suggest fully reading the first 2-3 chapters. The rest of the book contains only a detailed description of the basic concepts of these chapters supported by data. Here I would advise to just list through and stop at some paragraphs which catch your attention. With this approach, you will be able to retain all the information needed and at the same time, read the book faster without it becoming repetitive.
As for the content, I would hea ...more
The wealth equation which is central to his analysis is: your net worth should be 10% of your age times your income (0.10 x age x income=expected ...more
But the brilliance of the book is in its's universality. You need not be an American to understand what Thomas Stanley was driving at. It is pretty clear. Though his doctrine of being frugal sometimes seems like ranting (the book could use a bit of rewriting, but then again ...more
The author also addresses topics like generosity. Those who donate at least 10% of their incomes ten ...more