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The Millionaire Mind

4.18  ·  Rating details ·  20,498 ratings  ·  306 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 milliona
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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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4.18  · 
Rating details
 ·  20,498 ratings  ·  306 reviews


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Chad Warner
Oct 28, 2012 rated it really liked it
I liked The Millionaire Next Door (my review) 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
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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
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.
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!
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
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
Chhun
Nov 01, 2012 rated it really liked it  ·  review of another edition
もしこの本を読まないと、億万長者はどんな生活を過ごすか意外と全然思い当たらない。やっぱり経済成功の方程式によっては、天才で、一流大学の卒業者からといって、仕事を成功して億万長者になれるわけではないだろう。重要なのは、人一倍の努力、仕事への情熱、リスクを背負う勇気を持ち、失敗するからこそ、克服する方法を勉強できて、成功の人間になれることである。

One phrase is really touching my heart. It said, if there is no one employing me, I'm gonna employ me by myself. That was word from millionaires. You can see the different between what millionaires think and what we think. And you? What would you do if no one employs you? If you can't find a job? You wanna employ yourself? I m
...more
Henrik Haapala
Nov 06, 2018 rated it it was amazing
Shelves: favorites
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
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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!
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
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.
Stan Skrabut
Dec 30, 2018 rated it it was amazing  ·  review of another edition
Shelves: business, inspiration
The Millionaire Mind has been sitting in my Kindle feed for quite a long time. I thought that reading it before 2019 started would help me identify strategies for more success. I have to admit, I really enjoyed what Dr. Thomas Stanley put together and learned a great deal. Readmore
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.
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!
Alexandra
10/24/17 $.99 for Kindle.
Sabine
Nov 24, 2017 rated it really liked it
Review coming soon..... Happy New Year to y'all my goodreads friends :)
Mona
Jan 20, 2019 rated it it was amazing
I read this book long time ago but still remember it very well. Despite the fact that it was published first in 2006, many concepts presented here are still valid. Considering that United States is the country where consumption of goods and commercialism are worshiped, and possessions frequently define social status and connections, this book presents very refreshing points of view. It resonated very well with me and I think this book should be a mandatory read for everyone, starting in high sch ...more
Chris
Jun 26, 2018 rated it really liked it
Shelves: self-improvement
I'm a teacher and this book has helped change my view of my students. When you read that many millionaires were simply "C" students in high school - or worse, it helps you to not be disappointed with your students when they don't do well. Two of the millionaires who were studied graduated when they were 21 years and 22 years old. That was an eye-opener for me. The ones that were the "A" students were the ones who had to do well to get into a good school. Those were your doctors and lawyers. The ...more
kate
Mar 10, 2010 added it
not my usual pick, I don't focus on 'get rich' reads - money in and of itself is not a topic I pursue with a lot of passion. It's the passion that comes first - right?

Anyway, this was interesting because it taught me focus and that time is money. The things millionaires had in common surprised me - and would surprise my frugal friends who will drive an hour to the cheaper gym to save a few dollars as opposed to joining the one on their street.

Same with mr fix it himself who takes forever, pulls
...more
Joseph T Farkasdi
If this book don't enlighten you into the thought process and outlook of the New Rich in our society, then I don't know what will! Thomas's research is profoundly insightful, digging deep into the lifestyle and, more importanly, into the mental traits of the rich. The most significant discovery of his study is how the rich are so very much like the rest of us, only they have a pattern of mental and behavioral traits that distinguish them and, ultimately, lead them down the road to success. If yo ...more
Howard
Dec 01, 2012 rated it really liked it
The Millionaire Mind offers insight as to how people of wealth think about money. Most interesting to me was looking at people who came from very little means and built their fortune from nothing. Many of these people have fairly simple lives and don't do (nor do they enjoy doing) extravagant things. In many respects they employ basic financial concepts but are also able to look at finances in a unique manner. The connection for me and the take away is that while one may not become a millionaire ...more
Alex
Aug 08, 2015 rated it really liked it
This is certainly a better read than his Millionaire Next Door. It's more streamlined, being less bogged down with overwhelming statistics. I'd recommend reading this one first, and then skimming MND.
Jason
Feb 18, 2008 rated it it was ok
I feel like this book finds a situation and attempts to reverse engineer it as fact. The things that most of the people highlighted in this book do are done my thousands of others who do not become millionaires.

This is what is discussed in The Black Swan by Taleb.
Sarah
Oct 20, 2009 rated it it was ok
Shelves: unfinished, finance
This talks about deca-millionaires. I simply can't relate. I can't take the tips. Plus it wasn't original enough from The Millionaire Next Door.
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Dr. Thomas J. Stanley began studying the affluent in 1973. Stanley was a marketing professor at Georgia State University, a public speaker and consultant on selling to the rich.

“most millionaires generally don’t limit themselves to stocks, bonds, and related investments—they invest heavily in private businesses and real estate.” 1 likes
“Your test scores are inferior, therefore you’re inferior,” and the result is yet one more economic dropout. Instead, tell a youngster there are many ways to win. Tell him that creativity and even common sense, social skills, and integrity count in the economic arena. If we convey that message, we will have many more people becoming productive citizens.” 1 likes
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