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The Millionaire Mind

4.19  ·  Rating details ·  23,504 ratings  ·  396 reviews
The Barnes & Noble Review
Who is the average millionaire? Does he eat gourmet or fast food? Does he drive fancy cars, take chic vacations, and indulge wherever and whenever he can? Or does he resole his shoes, turn off the air conditioning when he leaves the house, and spend a lot of time at home with close friends and family? Through his surveys of over 1,000 millionaires
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Paperback, 416 pages
Published August 2nd 2001 by Andrews McMeel Publishing
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Rama Guggilla No, the book is about the characteristics and behaviour of millionaires in the US

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Chad Warner
Oct 28, 2012 rated it really liked it
I liked The Millionaire Next Door so much, I had to read this book for its further exploration of the lives of millionaires. It spends a lot more time on the personal lives of millionaires, revealing insights about their marriages, pastimes, and shopping habits. Overall, I liked it even more than The Millionaire Next Door.

I liked the points that creativity and hard work are more important than academic performance, and that the proper career is the key to both wealth and enjoyment. I also liked
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Linda
Sep 18, 2014 rated it really liked it
I liked it for the same reason as "The Millionaire Next Door":

1. If you skip past all of the charts and graphs, it's easy to read.
2. A few basic points: Millionaires are a lot more thrifty, stability-oriented, marriage-oriented, and a lot less orgies-and-Jaguars prone than most people would think. They look for deals, they don't waste cash, they marry for long periods, and build their businesses.
3. Biggest and most overdone point: millionaires do NOT rate overly high on standardized tests, they
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Zachary Slayback
Dec 24, 2015 rated it really liked it
Shelves: entrepreneurship
Great follow-up to The Millionaire Next Door

If The Millionaire Next Door was a look at what America's affluent look like, The Millionaire Mind is a look at how they think and live, and why. I liked TMND more, but this is a different kind of book. It more looks at habits and ways of thinking than simply at how people live. It also has a bit of a self-help vibe to it that detracts from the overall message of the book -- this can be overlooked, but does take away in the end.

Don't listen to the ant
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Ethan
Jul 02, 2009 rated it did not like it
Shelves: nonfiction
Garbage. The portion of the book that isn't retread from The Millionaire Next Door contains specious reasoning ("correlations") and the author's fairly lame opinions on how to lead your life. So standardized test scores and grades don't predict success in the business world? Well--duh! How many times do you have to repeat that for it to sink in? Sounds like a certain author's counselor told him he was stupid as a kid. And...do I have to believe in God to make money and be happy? I guess so. Than ...more
Patti
Nov 25, 2015 rated it did not like it  ·  review of another edition
Reading on the strong recommendation of a friend...on page 86 out of way too many and not thinking it is going to get better. Here's the fundamental flaw that makes me want to alternately throw the book across the room or just plain yell: millionaires indeed have some good advice - thoughts on how to live a prudent, temperate, well-ordered, joyful life. The book has recommendations that are inherently good: the practice of self discipline, creativity, perseverance even if your book smarts aren't ...more
Robert
Jun 06, 2010 rated it it was ok
Having read or at least listened to in the car the earlier volume The Millionaire Next Door and so enthusiastically that I sent copies to the children I went on to this one. It shows that Danko must have had considerable influence over the first book. Stanley alone is meaner, shallower, and puts a bit more emphasis on any correlation between strong religious values and this type of success. There is a consistent negative tone of judgment and rebuke. Where the first book firmly informed, this one ...more
Jacob
Feb 16, 2011 rated it really liked it
Shelves: fascinating
When I started this book I wasn't clear how it would be much different than "The Millionaire Next Door." Soon it did become clear to me. This book set out to share "economic success factors" based on research according to the authors proven style. I found the read both entertaining and insightful. Well done again! ...more
DianeK Klu
May 24, 2015 rated it liked it
I will never complain about my husband being "frugal" ever again. He has the millionaire mind set. Me....... not so much. ...more
Henrik Haapala
Nov 06, 2018 rated it it was amazing
Shelves: favorites, wealth
How to get rich? Ask a millionaire.

Top five factors mentioned by millionaires (very important for financial success):
1. Integrity – being honest with all people
2. Discipline – applying self control
3. Social skills – getting along with people
4. A supportive spouse
5. Hard work – more than most people

The credit-dependent are controlled by somebody else: “What I learned from them (60 millionaires from Oklahoma) was simple, yet the message had a lasting impact on me: You cannot enjoy life if you are
...more
Bobby
Apr 16, 2012 rated it really liked it
I love this book because it debunks so many of the ideas about what it takes to be wealthy. It tells of stories of people who make $30,000 a year but are millionaires because of the way they have managed their money. One of the major mind shifts I realized is the difference between the perceived life of wealthy, and how one essentially needs to stop caring about what others think about them, and live financially smart. This is proven with statistics like 70% of millionaires shop at thrift stores ...more
Yazlina Saduri
Apr 08, 2020 rated it really liked it
Quite entertaining but definitely info packed... For me at least. At a few years to 50 with scary-looking Balance sheet, I am not likely to live the life of a millionaire. Still, I think some of not most of tips and data shared in this book could be a good info for my kids. Well who knows, we can have the first millionaire ever in the family. So it's no wonder, in the eyes of the normal person (read non-millionaire), the super rich lot are stingy, not good looking 😁 goons 😄 over generalization o ...more
Erin
Jul 19, 2017 rated it really liked it
Shelves: finance
Fascinating case studies and research summaries regarding how people in America have become millionaires and grown their assets. The author makes a distinction between Balance Sheet Affluence and Income Affluence that really resonated. It's really the difference between being rich and acting rich. I'm more inspired than ever to reach financial independence! ...more
Adriane Devries
Jan 27, 2015 rated it really liked it
You have more statistical chance of getting leprosy than winning the lottery. If, like many people, you would rather accumulate cash than rotting, decaying flesh, perhaps you ought to read the findings of Thomas Stanley, PhD, who has stalked American millionaires in their clustered enclaves to discover the secret to their financial success. 733 of them agreed to answer his probing questions for hours and hours to give us news both good and bad. The good? They are often of quite humble origin, wi ...more
Pierre Lauzon
Jan 16, 2014 rated it liked it
This book is a follow-up to the more famous The Millionaire Next Door and is a worthy effort. The first book upset stereotypes and understanding of who millionaires are and what they do. This book is a more in-depth statistical analysis. It has 46 tables (some extensive) in 405 pages of text.

The major separation of thought in the text is between those the author calls Income Statement Affluent vs. Balance Sheet Affluent - making money is not the same as keeping and growing it. The book also upse
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Scott Stillman
Mar 25, 2016 rated it it was amazing  ·  review of another edition
- Thomas J. Stanley (1944-2015)

Contrary to what is often touted in the media, there are more great affluent opportunities in our economy today than ever in our nation’s history. But in order to take advantage of these, it is important to appreciate the 8 key elements of the economic success equation as given in my book, The Millionaire Mind:

1. Understand the key success factors our economy continues and will continue to reward: hard work, integrity, and focus.

2. Never allow a lackluster academi
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Larisha
Sep 19, 2009 rated it really liked it


In "The Millionaire Mind" you will discover answers to questions like:

*** What success factor made them wealthy in 1 generation?

*** How do they find the courage to take financial risks?

*** How did they find their ideal vocations?

*** How do they run their households?

*** How do they buy and sell their homes?

*** What are their favorite leisure activities?

In "The Millionaire Mind", Dr. Thomas Stanley tells us how America's wealthy got there and perhaps even more importantly, how you can become one o
...more
Yifei Men
Jan 19, 2020 rated it really liked it
Not really sure what I was expecting when starting this book. Baseline is that this is definitely not an investment guide ;) As a social science work, I found a lot of the statistics in this book a little concerning. While the author clearly presents the stats that the majority of the wealthy are not the "highly educated, star students" that one associate with the productive and high-earning; the reverse association, that being a highly educated star student makes it more likely for one to be in ...more
Vicky
May 17, 2021 rated it really liked it
“I wanna be a billionaire so f*cking bad ... buy all the things I never had.”

Turns out the keyword in the lyrics is “wannabe.” Because a real billionaire, or even millionaire for that matter, wouldn’t pursue wealth for the purpose of “buy[ing] all the things.”

There are two types of millionaires: millionaires by income and millionaires by net worth. Those in the former bracket have a high earn, high spend lifestyle and are likely workaholics. That’s because their mindset, lifestyle and habits are
...more
Brad Rees
Jul 11, 2021 rated it really liked it
I may have liked this book as much, if not more than the millionaire next door.

In summary:

8 elements of the economic success equation:

1- the economy rewards hard work, integrity and focus
2- Never allow a lackluster academic record to stand in the way of becoming economically productive
3- have the courage to take some financial risk and overcome defeat l
4- select a vocation that is not only profitable, but pick one you love
5- be careful in selecting a spouse. Those who are economically productive
...more
Yerkhanat
Jan 04, 2020 rated it really liked it
It was my last book of 2019 and first book of 2020, it took almost 1 month to finish the book. It seemed like a thesis or dissertation when reading throughout the book which has a bunch of figures, tables and statistical analysis. First of all, the book was written to reveal the common traits of millionaires and try to make a suggestion for those who want to be a millionaire. For me, the difference between this book and other how to become rich books is you do not need to read this book cover to ...more
Kaustubh
Jun 05, 2020 rated it really liked it  ·  review of another edition
Can one become a (dollar $) millionaire by copying their habits? No. However, one can dive into the way they think to tune their perspective to look at things to become better. If one is interested in a proper, research-based approach on studies of balance-sheet millionaires, this is a good book. Although I think this 400 page book could have been a 200 page book - what are success factors, how do their academic records look like, what business they choose to do, choice of spouse, day to day lif ...more
Carey Nelson
Aug 09, 2018 rated it really liked it
Shelves: 2018
For my money (ha) this is the one to read over The Millionaire Next Door. The advice Mr. Stanley gives based on his research isn't always on par with 2018, but this book had me thinking a lot more than the previous did. Regardless, I enjoyed this one a lot more start to finish. It's short; read it. ...more
Patrick Tucker
May 22, 2019 rated it liked it
The continuation of the Millionaire Next Door is pretty good if you want to try to understand their or change your mindset. I did find it to be repetative and outdated. Totally possible there is a newer version than the 2000 publish date I read but if not, this is probably a skippable book purely because of the 20 years since its writting.
Rebecca Palmer
Jan 31, 2020 rated it it was amazing
This was a quick read - my husband and I listened to it in a day on a car ride. I loved the Millionaire Next Door and really liked this as well, it goes more into the “how did they get there” aspects of success. Taking risk, having courage, being the right kind of supportive spouse, having ownership, being a good manager of people, being strategically frugal in terms of lifestyle, etc etc. Great read and good reminders.
Kevinch417
Nov 03, 2018 rated it liked it
This book would have been 100 pages shorter if there was less repetition in the author’s statements. At times he could be contradictory and he uses the line “Websters defines X as...” way too many times to be funny. The Millionaire Next Door was a great book, but Thomas Stanley co-wrote that one. When it’s just him as the author, it’s a drag.
Ben Smitthimedhin
Don't ask me why I read this.

Big boomer energy on this one: millionaires work harder, make financial risks, are good with people etc.

Stanley seems to have a very narrow definition of luck, and his methodology is a little questionable:

Stanley: "So how'd you get rich?"
Millionaire: "Hard work, definitely. And taking financial risks."
Stanley: "What about luck?"
Millionaire: "Luck doesn't have anything to do with it! If I was lucky, I would've played the lottery!"
Stanley: "There you have it, readers.
...more
Adib
Jan 29, 2021 rated it liked it
I liked it and I'd give it just about 3.5 stars.

There are two or three really important points in the book, but overlaps a lot with Mr. Stanley's Millionaire Next Do by or. I do recommend these books be read and I did find some value by doing so, but the individuals overhyping them for many years are perhaps worshiping them instead of simply acting on the principles illustrated within.
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Alexandra
10/24/17 $.99 for Kindle.
Taylor
Good book: I listened to this while moving. Lots of great info, confirms a lot of things I have heard, and follows in line with the advice I’ve read from Dave Ramsey. Looking forward to reading its companion, The Millionaire Next Door!
Sabine
Nov 24, 2017 rated it really liked it
Review coming soon..... Happy New Year to y'all my goodreads friends :) ...more
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Dr. Stanley wrote The Millionaire Next Door and The Millionaire Mind. These books spent more than 170 weeks combined on the New York Times’ Best Sellers list. His Millionaire Women Next Door was selected as a finalist for the business book of the year by the Independent Publishers Association and was on several business best sellers lists. Dr. Stanley’s first three books, Marketing to the Affluent ...more

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