The Millionaire Next Door | Thomas J. Stanley, William D. Danko

The Millionaire Next Door | Thomas J. Stanley, William D. Danko | Great book

books:

The Millionaire Ne...

	The Millionaire Next Door Thomas J. Stanley, William D. Danko Pocket, 1998 - 272 pages average customer review:based on 795 reviews view larger image
	for more information click here

highly recommended

Teaching me More than I was Ever Taught about Money

I'm a single woman in my early 30s, my parents are middle-class and doing okay. The only thing i was taught as a kid was "save your money" or "dont spend it". that went in one ear and out the other. i never had it in my mind to rely on a man or get married for wealth, but my Mom always seemed to put that idea towards me...even though i never took it on.
Im an educated woman and working on my Business Degree. Ive made my mistakes in Credit card debt but luckily i am almost debt free and my mistakes never got out of control... i stopped and panicked when my debt hit $8k and for me that was it!

This book is teaching me much more in terms of having a mindset of growing wealth and investing than anything or person in my life ever has.
I wish i had this book 10 years ago when i was 20 but i still have plenty of time to get this thing on track.

When we buy groceries we usually have our brands and favorites we buy on certain things... me i pay good money for ice cream.
This week I saved $3 by switching to a cheap brand. i was proud of myself. That $3 goes into my savings.
I have no doubt in my mind that I will never become a PAW, I plan on putting more time into investing and learning about money each week.

Too bad my Dad never taught me this stuff :(

for more information click here

Great book

I am a financial advisor and I frequently loan this book to clients and they usually love it. Its also a great book to give to young people. It really gets across the message that you don't have to make a lot of money to be wealthy, you just have to live below your means and invest well. Highly recommended.

Must read

I wish everyone would read this book. You assume someone to be rich because of their car, or clothes. That just proves that they waste more money and probably go into debt for it.

I spent time as a financial analyst for a commercial lending department. Part of my job was to go through people's personal financial statements. My boss, a CPA, recommended this book to me. On of our wealthiest, millionare clients wore sweat pants, had a mullet, and drove an old beat up vehicle. We had another client who was always sporting the latest fashions and drove a Porsche, but was broker than broke and always pleading with us to not return her checks.

The key is to have the self confidence to not spend the money to fix the way people judge you. Would you rather have 10 million dollars and look like crap or be on the edge of bankruptcy and look like a million bucks? I refuse to spend that kind of money to impress someone I probably don't even like or people I don't even know.

Read this book, it will shed some clarity!

for more information click here

Great read!

Descriptions from interviews of millionaires were the most interesting aspects of this book. The authors occasionally cited actual paraphrases from some of these folks and those statements were often impactful.

At the end, it's all common sense as in almost all business books. My biggest gripe was the overbearing use of statistics - they can make the numbers say whatever they want and there were times that they did this. For example, their questionaire must have had a question about being self-made or did they recieve an inheritance. Everyone always says they are self-made even if they came from a fairly well off family. They oversimplify how difficult it is to become more wealthy than your parents. Relying on the answers to a questionaire for this insight is unreliable.

But in summary, the book makes some great points about the inner workings of a traditional successful business owner. My favorite of which is that any business owner in any industry can become immensely successful, whether it be hauling garbage, running pawn shops, designing software or selling pharmaceuticals. It's all about hard and smart work.

for more information click here