Wish I had read this one years ago. Have your kids read it too, it will provide motivation that is more valuable than anything else you might try to give them. Bottom line, it explains via examples, just why high income and wealth often have inverse correlation.
The key point in this book is by saving money and invest wisely, even with moderate income, people can get rich. I think the writer purposely crafted his message toward the "Majority" market not only because they are the most frustrated group, but also because they are the largest group. The subtle voice of "Although you are ordinary, you can do it too!", like cheesy infomercials at 2 AM, is very irritating. If you want to be a millionaire by: Never buy a set of suit for more than 500 dollars, or Never purchase a Luxury German automobile, or Never live in a house more than 200K dollars... read the book. For me, I want to maximize my income so I can SPEND it. Why be the lady who died in a low income neighborhood with 3 million dollars net worth that no one knows about. The sad thing is, she spent her whole life saving money and clipping coupons. What is the point?
Great content, but don't listen while you're driving; you may fall asleep! There are A LOT of examples - seemingly unending - some of them help in understanding, some don't.
The book is an interesting hearing/reading for pensioners or senior citizens...trying to coach them on how to be frugal. However, many people including myself learned the hard way that you have to spend money to make money. It's not a book for the sophisticated or the high networth individual.
The book is really geared towards showing the distinction between truly being wealthy and simply earning a lot of money. Based on the authors research, the book goes into details about how to accumulate wealth and the habits of people who do this well and those who do it poorly. I found the book helped open my eyes further about financially positioning myself for the future. On the downside, I found that the unabridged version was quite repetitive; they just keep pounding the same points home over and over. That and they didn't do a great job at reconciling some of the obvious biases in the results of their research. Still worth a listen, though.
I love knowing that the reason Millionaires become so is because they don't buy status artifacts. I also now know that providing too much support for your children is worse than not supporting them at all
The doctors, the wealthy one and the status one.
No I listened as I drove, I drive a lot.
A good listen but a bit long and redundant. This is not a a how to book, but rather a character study.
While the authors does a fine job of explaining the differences between PAWs and UAWs, it gives no mention to the remaining and largest percentage of the population... the middle.