When our oldest daughter read this book for her Sociology class in college, I remember. She was blown away by some comparisons that she realized with people she knew and what the author was writing about in this book. She was so impressed that I think it is safe to say it changed her basic handling of money for her future and re-emphasized her values.This book should be recommended reading for anyone wanting to understand personal finance, and how you should manage your money. It is an honest explanation of the millionaire mindset, and a broad range of statistics to back up their conclusions. Forget the gimmicky get-rich-quick books and read a book that will give you a solid financial foundation.
This is an incredible book for anyone at any age who wants to get ahead. It is an easy read and his examples are great. I am having all my nephews and nieces read it, I gave it as a birthday present. I originally read it about 20 years ago and have found that it is as informative today as it was then !! Great book for those starting out best inversion therapy table with wanting a financial plan and for those of us who are a bit older and have already made some mistakes.However I found that this was a real page turner, and actually made me hopeful. My parents are not anywhere near being wealthy and quite frankly. When it comes to money, not too bright or lucky. I've started new habits and look forward to seeing results and maybe one day becoming affluent
.While the exact numbers and scenarios are a bit dated (the study was done in the late 80s/early 90s and published in 1996), the overarching message of the book still applies: most millionaires live frugally. The book provides some great excerpts of conversations with actual millionaires who definitely don't look like the powerful and rich we often see on TV. The author's views sometimes come out, and I don't always agree with him, but that doesn't take away from the overall message.Each pattern was backed up with statistics and studies, every source cited. After the fiasco that was Rich Dad Poor Dad, this was a welcome change of pace. For anyone just starting to build their income, or for those who are already there but wonder where their money goes every month, this is a very enlightening, but encouraging read.
The majority of the patterns presented in the first half of the book are good ones to adopt, as they focus on how the wealthy became wealthy vs people who have high incomes but continue to live paycheck to paycheck. That said, just because the wealthy do something doesn't make it a good idea. As much as this book shines light on what millionaires do right that non millionaires don't, they also draw attention to some flaws and common mistakes the wealthy tend to make with regards to their empire and family, and, more specifically, their children. The millionaire next door beat the rest by best electric razor for teenager all means. Me having a very scientific mind I can't help but credit books that have some credibility and reliability and supported by strong data. It just make the whole book more real and applicable than the ones I named above which certainly made me feel good reading them but because of their lack of supported evidences I just don't find them worthwhile.
According to the authors, if you want to be rich, you need to live like you're in poverty - drive a crappy car, live in a shack, eat cheap crappy food, wear junky clothes, drink cheap beer, steal pennies from the water fountains at the mall (okay that one they didn't say outright, but I wouldn't be surprised if it crossed their mind).Basically, don't enjoy panasonic portable dvd player your life and pinch pennies every chance you get. Maybe, when you're 82, you will be "wealthy.".I appreciated the key points the author made about the typical behaviors of individuals who are able to become millionaires by building wealth through frugality, saving and investment.
He illustrates these points with interesting stories about a great variety of people. On the downside, I found the narrative repetitive, and the figures (percentages of households who are millionaires, etc.) difficult to interpret hardside carry on luggage because they are so out of date from studies done 20 years ago or more. If the figures were current and I could better relate to them, I would have enjoyed the book much more. the hypothesis behind why children rely on parents and why the vicious cycle of dependence is perpetuated by enabling parents and entitled children.This caused a domino effect to the grandchild who by a stroke of luck or sheer will, might not be shackled off the cycle of poverty.
I have known that flashy lifestyle does not equate wealth. Also most recent shipm. - started to read the 'Introduction'. It doesn't sound like what we hear taught at church about prosperity, but we can pick up some ideas portable air compressor for car tires about not "spending" all we make on a job but save some for 'rainy days'.I believe they define 'wealth' on how much you have to live on should you loose your job and be without income for several months.
This author seems to be one of the more 'trustworthy' and down-to earth ones.This book completely changed how I look at the people around me, and how I view wealth. I love that the authors are honest about their own levels of wealth and do not put themselves on a self-righteous pedestal or pretend to have known sliding table saw attachment the answers all along. This is a great book that I have already seriously recommended to a few friends. It's really a shame that people are so impulsive and affected by peer pressure because all the ways that they become millionaires are nothing but hard work, frugality, and common sense.
It seems that being like everyone else in your social circle is much more important than financial security but if it wasn't for people spending money foolishly our economy would fall apart. save your money, don't spend like an idiot on dumb ass consumer items, and invest like a maddog, and you, too, can have a whole bunch of money when you die. The problem is, you end up with a rather dull life. Its useful portable miter saw stand to take some of the lessons from this book, but, for Goddsake, don't turn it into a mantra. Or else you'll be wearing crappy suits and driving dull pale blue sedans youre whole life, counting your pennies and behaving like a cranky old miser..Once a millionaire changes intangible worthy valuables to tangible, real, useable assets, the tax man will take a large portion of it away. The book leaves me with the question: What good is it to amass large stores of wealth if only to be able to recalculate and calculate wealth - and never to use it to further life's enjoyment? The authors don't even advocate liberating some of that wealth onto adult children or others who might apply some of its value in enjoyment. I did enjoy the interpretation of offensive/defensive wealth and how most Americans are good at offensive wealth building-- we are a culture based on income levels.
We could stand some lessons rather than scolding on how to be better defensive wealth builders-- i.e. less consumption. I feel it would have been nice for the authors to tell us how these folks balance their lives. The (car) price per pound thing is factual, I doubt any of the millionaires ever thought or care about this piece of trivia. What is notable is what didn't make the list of traits. Expensive clothes, flashy cars, or high-consumption lifestyles are not the domain of the typical millionaire; they are more characteristic of the chronically over-extended! A key distinction in this book is the difference between income and wealth. Even people with a modest income, by following prudent principles top loader washing machine, can enjoy great wealth over time. On the other hand, top income-earners often spend their money as fast as they earn it, leaving them with few accumulated assets over the years. This insight is particularly useful to young couples like my husband and I. It is very comforting to know that one is really able to become hence free and financially independent in every sense of the word in this country. I felt I was already on the right track, as I have always enjoyed living frugal.
The chapter on buying a car chapter was interesting. I had found out on my own about the best time of the year to buy a car. I agree with the author's on this, for the same reason.1. Fix your targets.Avoid spending your time and power for other things. Be consequent.Take pleasure in the results.Excellent examination of how the undercounter ice maker millionaires accumulate wealth, but few admissons of enjoying their wealth. The tragedy is that many millionaires don't leave much money to their off-spring, yet the don't enjoy life more fully either. My work with entrepreneurs (and many authors on the subject) uncover that one will start their own business for freedom of work, financial independence, and enjoying the finer things in life. This book doesn't talk much about the enjoyment of life.1. Illustrates the difficulty of successful giving-- to others and children. That which is not earned is frequently detrminental to the recipient. Makes the point, without saying so, that a thinking person should update his financial statement annually, for the purpose of checking progress on net worth-- or lack thereof ..
The book begins with the parable of the grasshopper and the ant, and leaves the impression that there can be no successful in-between, which just ain't true. You don't have to be a miser for the sake of accumulating money which you may never see the use of-- or leave to the detriment of children or other recipients battery powered lawn mower of your largesse. (I have lived in the same house for 32 years, thereby saving a lot of money, part of which was used to support a wonderful hobby-- flying-- while seeing four children through college and doing a lot of interesting things, including the purchase of NEW cars, kept for a minimum of six years each. Am not dependent on social security by a long shot, having semi-retired .
The book is well worth reading and reviewing periodically-- enables one to realize what one is doing, as compared to what it is possible to do, since so many others are/have done things differently. Have given eight copies to my children and young folks in my little company. How much they need to maintain their standard of natural gas grills for sale living, second, how much do they want to leave their children and third, how much would they like to leave as a legacy to their favorite charities. The millionaire next door does a great job in ch 5 "Economic Outpatient Care" of dealing with how much you leave your children. It shows that "good intentions" generally take you off mission and result in doing just the opposite -and making the children unproductive.
A client of mine built a statue of his father outside his headquarters with the caption -"work is love". Those that are "given" versus create seldom understand this. I believe this book is a must read for every financial advisor and their small portable air conditioner clients. I found this book very educational, although at times I got bored with all the statistics. I skimmed over some them. I think it would be a. good book for young couples to read. It is a good dose of reality, contrary to all the materialistic messages we receive today. I have found it important to live by a philosophy, to have certain values and goals and direction to take. The Millionaire Next Door outlines why Millionaire become Millionaire, and in so doing sparked the growth of new seed in that has turned into a wonderful philosophy to live by.
The book tells you about buying and spending habits. And most icredibly of all, it proves it, with quantatitive data. The book is an education in itself. It solidly reinforced everything I have read in various financial planning books and magazines and would be great for someone not on the wealth track. What I found to be missing, and would have been farily easy to gather given all of the interviewing done, was some best espresso machine under 500 spending data. Granted, they talk about watches, clothes and cars, but what does the typical millionaire's budget look like. The book does indicate the majority of millionaires use a budget, so where are they spending what little money they spend.Forget the gimmicky get-rich-quick books and read a book that will give you a solid financial foundation.
This is an incredible book for anyone at any age who wants to get ahead. I've started new habits and look forward to seeing results and maybe one day becoming affluent.While the exact numbers and scenarios are a bit dated (the study was done in the late 80s/early 90s and published in 1996), the overarching message of the book still applies: most millionaires live frugally. The book provides some great excerpts of conversations with actual millionaires who definitely don't look like the powerful and rich britax convertible car seat we often see on TV. As much as this book shines light on what millionaires do right that non millionaires don't, they also draw attention to some flaws and common mistakes the wealthy tend to make with regards to their empire and family, and, more specifically, their children. The book does indicate the majority of millionaires use a budget, so where are they spending what little money they spend.
Here is my 'Before and After': Before I read this book I thought that I had enough knowledge and knew enough to be a successful person. After reading this book, I still convinced that I can be successful BUT I realised that I need top radar detectors to learn more. This book has taught me everything I need to know to achieve my goal which I certainly don't get from my own parents. If you read two books in your entire life, this must be one of the book.I always knew that school was not the only way to be succesful, probably because my dad has always taught me the values which rich dad taught his kids.I always felt unsure becuase i couldnt quite grasp the concepts.
After reading this book i had a much clearer understanding of liabilities and assets, i have decided to continue with my commerce degree(just for the sake of learning) and i have read most of the recommended books. I have only had the book a week and i have already made six of my friends buy it. It is amazing and i can not imagine how people would survive without the knowledge it provides.I am currently heavy duty sewing machine expecting my first child, and it is a relief to know that I will be able to raise my child as necessary to succeed in this new world instead of condemning him to the traditional rat race of corporate america. The world has moved on, but so few people have moved on with it. Anyone who reads this book will be armed with the information needed to move ahead and escape the traps of archaic philosophies in this new world.
This books answers so many of the questions we all ask. It is a must read, a necessity for success.If you don't like the way the "system" is treating you then you have to start and get this book to follow the authors advice now! I was horizon t101 treadmill review amazed at how many examples he pointed to that pertained to my everyday life. His insight into the life of the rich from his "rich dad" is priceless. How I would have loved to have had that opportunity as a child.
This book is an easy read. In only 3 nights I was able to identify many correctable bad habits I 'd learned early in life. It's filled with stories, examples, and insight that could change the way you view the business/financial world. I'll strongly hamilton beach toaster oven recommend it to my relatives and friends, especially the children.As a Business person and high school teacher I've found it perplexing as to how to explain to the present generation in our schools what is happening to the world of work and money. The author makes it all so very clear. Three of my senior business maths class have ordered the book - with me having read a just a few paragraphs to them from it - they say they have learned more in the last few lessons about money than in their whole school career so far. When I was at school, I wish some enlightened teacher had read it.
Get it yourself and a copy for your school library. Well I'm no longer just a wage slave, I've since gone on to building my own business to secure my financial freedom, in addition (for now) to my 9 to 5.I could never understand why I just didn't seem to be getting ahead. Because most job salary increases just keep pace with the rate electric acoustic guitar of inflation, now I know its. You can't win! This difference with this book is that Robert's style is much more aggresive in risk taking than the other two and what he does do is provide you with an easy to understand visual interpretation of a Balance sheet.
This book was recommended to me by a friend who is no financial wizard by any stretch of the imagination. This is a must read book for everyone but more importantly it is a must-make your children read book for parents. As a parent from the boom-generation you have a finacial, moral and parental obligation to read this book with your children. Less liabilities and would have known to pay myself first if I had had this book in high-school I would have more assets. Because of this book I have begun to look Flash Furniture Computer office Chair seriously at my life and for the first time I can see the end of the cycle.
This book should be given a sixth star and I would like to thank Robert for enlightening me about the world and for teaching me how to make money work for me. I love this book, and I love Robert for sharing it with me. Because I truly dislike motivational books, Stuart Smith firstname.lastname@example.org I hope to meet you someday Robert to shake your hand and say.I don't get inspired easy. I have plenty of motivation as it is, I need knowledge and information. Because it is more than a motivational book, I really enjoyed Robert's book. There is actually good advice and information here to change one's view of life. I will have owed it to him.This is a must for anyone who is striving for finacial independence if my life were to change dramatically in the next 5 years. I read the book recently and upon completion went out and bought an additional five copies to give to relatives and clients.
This book fills the void. The book is easy to understand and read. Rather than simply buying the book and giving it to your children, read it yourself first then put what you learn into action. Once they have read the book, this will hamilton beach stand mixer increase the chances of your children adopting good financial habits. Children are invariably bored by the subject of money, so you'll need to encourage them all the way. It will be worth the effort.If you want to be middle or poor class, spend life buying liabilities such as consumer loans, credit cards, and mortgages. You've got to read and understand numbers if you want to be rich. Emotions such as fear and desire are what make people human.
Emotion stands for energy in motion. Be truthful about emotions and use your mind and emotions in constructive ways. Most people do not know that it's their emotions such as fear and desire that are doing their thinking. Take action. By acquiring assets you will be choosing wealth as your goal and your future. The dehumidifier for basement choice is yours. You most likely will not be taught in school how to gradually become rich. You will most likely be gradually taught how to be a good consumer and a good employee vs a good employer and a good asset acquirer.I read a lot of books on investing, saving, and retiring early, but this is the first one that actually taught me how to make my money work FOR me.
When you consider buying something, always ask yourself, "Is this income-generating?" I 'd always thought of my home as an asset, but this book taught me otherwise. I have since purchased two rental properties and highly electric chainsaw sharpener recommend this quick-read for anyone open-minded enough to read past how the author made his fortune and who is willing to find a way to make his/her own!A cup of milk is nutritious. A cup of milk in 10 lb of water give you almost the same nutrition, if not more. What do you feel? Sadly I have always believed the education system fails our children by not addresing the crucial subject of wealth creation. This is important, and about the only way to know what you are doing, if you don't spend every cent you make
The author does have a good idea or two, but he IS a salesman. He promot them in a misleading way just like all the want-get-rich-guys you can see on TV commercials. Haven't we already see some people quickly figure out, after reading his book, that they should not go to college, but instead, getting rich quick by managing smart people.It's true that Bill Gates dropped out of Harward and becomes best cordless drill driver the richest man, but that doesn't mean every out-of-schools can become Bill Gates-- You have to be smart enough to get in there anyway.I have always wondered what causes generations of lemmings to go through the rat race called middle class, while other pepople seem to prosper in the same environment. This book has the answer.
Robert lays out powerful but simple concepts that can be used by anyone who is looking for them. Anyone who would claim that this book is diluted is firmly in the grasp of the Paycheck Mentality. Weaving these concepts into a story is pure genius. Without the story, you would dismiss the concepts as most powerful handheld vacuum obvious. If you want to break the generational mediocrity that many of us come from.I have read a number of excellent books on personal finance, this is a must read. sure. Here is my 'Before and After': Before I read this book I thought that I had enough knowledge and knew enough to be a successful person.
If you read two books in your entire life, this must be one of the book.I always knew that school was not the only way to be succesful, probably upright exercise bike reviews because my dad has always taught me the values which rich dad taught his kids.I always felt unsure becuase i couldnt quite grasp the concepts. After reading this book i had a much clearer understanding of liabilities and assets, i have decided to continue with my commerce degree(just for the sake of learning) and i have read most of the recommended books. I really enjoyed Robert's book because it is more than a motivational book. You will most likely be gradually taught how to be a good consumer and a good employee vs a good employer and a good asset acquirer.I read a lot of books on investing, saving, and retiring early, but this is the first one that actually taught me how to make my money work FOR me.