The runaway best seller The Millionaire Next Door told us who America's wealthy really are. The Millionaire Mind tells how they got there, and how to become one of them...
Okay, folks, do you want to turn those fat and flabby expenses into a well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program....
A modern day classic, it dispenses financial advice through a collection of parables set in ancient Babylon....
Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money....
Whether you're 25 and starting your first job or 55 and watching the career clock start to wind down, today is the day to get serious about your retirement....
Secrets of the Millionaire Mind reveals the missing link between wanting success and achieving it....
Think and Grow Rich is the number-one inspirational and motivational classic for individuals who are interested in furthering their lives and reaching their goals....
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever listen on how to reach your financial goals....
Dave Ramsey and Rachel Cruze teach parents how to raise money-smart kids in a debt-filled world....
This book contains in-depth advice and strategies for building wealth through rental properties....
Before you spend another dime, listen to this audiobook and understand how to become rich instead of act rich....
Are you tied to a nine-to-five workweek? Do you work hard making someone else rich? Are you financially free? Find out how to make it happen....
Dave Ramsey's New York Times best-selling guide to better living through financial security, now completely revised and updated....
Stephen R. Covey's book, The 7 Habits of Highly Effective People, has been a top seller for the simple reason that it ignores trends and pop psychology....
In The Automatic Millionaire, David Bach shares the secret to becoming a millionaire....
The Richest Man in Babylon, based on Babylonian parables, has been hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth....
Rich Dad’s Cashflow Quadrant reveals how some people work less, earn more, pay less in taxes, and learn to become financially free....
Now more than ever-given today's uncertain economic climate-a transformed relationship with money is the key to a happy and healthy life....
"The implication of The Millionaire Next Door is that nearly anybody with a steady job can amass a tidy fortune." (Forbes)
I have always tried to become rich so I could drive a great car. This book makes it simple. The extra $10k I might spend on a luxury import will translate into $100k less I'll have 15 years from now. Yeah, I get it now.
I thought that because I ran out of money at the end of the month that I must be saving as much as I could afford at the beginning of the month. Truth is, I am spending whatever is left. Simply put more away and I will be in the same position at the end of the month, penniless but with a higher net worth.
Finally, I learned that the govt taxes earnings and not necessarily net worth. Once I calculated that I was really paying 40% of my net worth in income taxes, it became painfully obvious that simply increasing my net worth contributions will automatically reduce my income taxes and therefore burn down this 40% ratio from both ends.
I guess I always knew all this, but apparently I needed this great book to tell me knowing but not doing is just as bad as not knowing at all. So if you say to yourself,'I already know most of this stuff', then look around and ask yourself 'Am I the Millionaire Next Door?'.
79 of 83 people found this review helpful
The overall message in the book is this: if you practice old-fashioned thrift, if you make saving as much a part of your life as spending, if you take the time to learn how to invest, and if you think in terms of wealth (that is, net worth) rather than income, then you, too, can join the ranks of the millionaires next door.
This comes from studies of real millionaires -- not the multi-billionaires of the world, but average Joes and Janes who, at retirement, are worth several million, even though they earned modest incomes during their working years. The book uses data from the study to point to the best saving and spending practices.
The unabridged book does get a bit repetitive, and the reader's slightly monotone voice doesn't help matters. However, repetition of information turned out to be an advantage while listening in the car, since I couldn't always give the book my full attention.
If you want to know how to get lots of money quick so that you can go buy lots of status toys, this is not the book for you. This book is about acquiring and keeping wealth, regardless of your income, so that you can live well and retire well. Flashy toys will only keep you from that goal.
45 of 47 people found this review helpful
What an incredible book full of insights that are based on sound research. Thomas Stanley, and William Danko, have really hit a home run with this book. Best of all, there is no prieching, just what they learned from their research about how real millionaires live. This book serves as a reality check for many I am sure.
9 of 9 people found this review helpful
What's so interesting about this book is that unlike the "Rich Dad, Poor Dad" and overnight millionaire books that deluge the market, it's based on good research and interviews. This will not tell you how to flip properties or find probated estates. It will tell you how to model the behaviors of people who have been in the same situation you find yourself in and have had the same success you want. Really well done in both content and narration.
29 of 31 people found this review helpful
This book details the startling results of a comprehensive study on the wealthy in America. The authors fully explain key concepts about wealth-building that will help the listener identify and change their own bad financial habits. Examples: the difference between "high-income earners" and "the rich"; who the wealthy really are; the characteristics of people who are accomplished accumulators of wealth, usually with very moderate incomes; the self-destructive behaviors of people who earn high-incomes that prevent them from accumulating wealth; what to teach your children about wealth; how the wealthy plan the transfer of their wealth to their children and grandchildren. Although long and full of statistical concepts, this book should be required reading for those who truly want to learn how to increase their wealth. There's no theoretical fluff, multi-level marketing promotion or vague "Rich Dad" slogans here. Just hard data based on actual American millionaires and how they built their fortunes.
77 of 84 people found this review helpful
I loved it, so much in fact that I just finished "The Millionaire Mind" as well, which was also great. "Next Door" made me see the light as far as why most people don't have anything but toys & debt, and that expensive houses, new cars and fine clothes do not a rich man make, nor will they ever. Living below your means and being frugal is the key if you have good income such as a small business. Do not follow the crowds, or the hot trends, do the opposite. Much better said by he than me of course. It is not a dot-to-dot recipe for wealth, just eye opening insight based on years of research and interviews, much of which is the opposite of what you'd think. Get it!!
36 of 39 people found this review helpful
To a young adult raised in a family of under-acheivers-of-wealth (UAW's)this book affirms the goals, techiniques, and saving strategies my husband and I have begun implementing in our life together. It is such a relief to hear statistical support for the benefits of saving, investing, and living below one's means. In a nation of UAW's, it is not often one comes across positive feedback for living frugally. I have watched friends, family members, and co-workers squander the income they earn, rack up high debt, and plan for the spenditure of income increases in the future. I will listen to this book again and again.
14 of 15 people found this review helpful
As someone with a degree in economics, I found "The Millionaire Next Door" very interesting with its various methods of evaluating how the 'wealthy' behave. The book provides some great examples of varying perceptions of utility. In fact I have used the buying cars by the pound example more than a few times. Not suprisingly, the vast majority of the millionaires studies subscribe (perhaps unwittingly) to the bathtub theory of economics... make sure that more money is coming in than going out. Unfortunately not enough people follow this sound piece of advice.
As an entepreneur the study of the small business owners were fascinating. I'm still reeling from the fact that scrap metal is the number one producer of millionaires in this country. I passionately recommend this book to anyone that is looking to start their own business. I know that I wish I had read it much sooner than I did.
26 of 30 people found this review helpful
Great content, but some topics dragged out too long.
4 of 4 people found this review helpful
A very insightful book and body of research that bust the myth that popular media tells us that wealthy people are high living people who spend vast amounts of money in expensive homes, exotic cars and branded goods.
Just because a person looks the part by driving a fancy sports car and wears an expensive Rolex, does not mean that he actually have money in the bank. A very sobering fact.
In fact, the true millionaires of America, according to the book are frugal, live simply, and spend most of their income on investments. A very good and insightful research on the true nature of America's stewards of wealth.
4 of 4 people found this review helpful
Sobering read in todays instant gratification world. The chapters in this book will shift most peoples paradigms on wealth and its accumulation. The book provides a sages worth of attitude changing insights into why individuals need to be more conscious of money management. It indirectly also provides hope that with the right money and investment attitude, regardless of the level of current income, one can make steady progress towards a significantly improved financial position over the long run.
8 of 9 people found this review helpful
Fantastic this book has changed my life. This book is also recomended to me by Brian Tracy
8 of 9 people found this review helpful
I have listened to many wealth books and found this one quite different and very, very interesting. For example there was a section about how children of the wealthy can be inspired to be independent rather than just spend their parents' money. There was also insightful information about inheritance. Although the book is American and a little old now, I believe these principles still hold.
I did not expected to enjoy this book, but I did. I could not believe when the audiobook came to an end, I was so engaged.
I would very much recommend this book. I would say a must for parents who have adult children they are supporting, or those considering how to pass on their wealth to their offspring in the future.
2 of 2 people found this review helpful
A must listen book about personal finance . Much of today's personal finance writing has been inspired by the findings from the studies discussed in this publication . Everyone will learn something about personal finances and importantly themselves in the stories told in The Millionare Next Door .
1 of 1 people found this review helpful
The two authors have done vast amounts of thoughtful research into the spending patterns of affluent Americans, and the book often sounds like a market research report. This does not mean that it is not a fascinating piece of work, though I imagine it will not appeal to everyone. Thomas Stanley and William Danko set out a clear definition and analysis of what wealthy means, in their eyes. Their ‘wealth equation’ - age*gross annual income /10 - allows the authors to calculate an 'expected net worth' for individuals and thus determine whether a person is an accumulator (net worth > than estimate) or a spender (net worth < than estimate). They then compare the extremes, 'Prodigious Accumulators of Wealth' (PAWs) with ‘Under Accumulators of Wealth' (UAWs). This is in itself and insight. The key to being ‘rich’ (under their definition) is to live substantially below your means. In their world, PAWs are rich (even if they only have a net worth of $400k) and UAWs are poor even if they live the high life, subsidised by their parents or credit. This is actually more philosophical than financial – frugal PAWs feel financially secure and have the confidence that comes from being 'self-made', spendthrift UAWs worry about money and their old age. It’s very Mr Micawber: spend 19 pounds, 19 shillings and six pence, result happiness (though Micawber’s formula implies a surplus of 1/40 or 2.5%, S&D suggest you should aim for 10% or more). Stanley and Danko have also observed and then thought deeply about how the financial attitudes and behaviors of parents impact on their children. Many PAWs get it right by instilling the correct values of frugality and independence in their children. They help them with education and perhaps a house purchase or business investment, but they do not push cash gifts on their adult children. Unwise PAW parents use their wealth to cosset and/or control their children, while UAWs instill their spendthrift ways in their own offspring. Americans seem to think and talk more freely about money than we do in the UK, and the book is very US orientated, but I found it really useful to help me position myself in this domain. Obviously, the ideal is some Aristotelian virtuous median, to be neither a tight-wad, nor a spendthrift. This book will have a permanent impact on the way I handle the transfer of wealth to my own kids; I am going to spend more on myself (and my hardworking frugal husband) convinced that their independence is more valuable to our children than free cash.
2 of 3 people found this review helpful
Some explanations could have been shortened but excellent information to have. Planning to buy for young adults
Thoroughly enjoyed this book.. will revisit again in the future... some very good lessons to be learned.
Narrator was spot on
Why don't they teach you in school this, compound interest. It's simple, save invest live less wildly and don't borrow. If you don't learn from the examples in this book then you don't want to learn.
Some good ideas about making the difference between living the high life or choosing to live modestly in order to build wealth.
showed me different outlook on wealth really good book very educational i would highly recommend
Great book to have playing in your car.
Gives you a good opportunity to reassess your current financial stand.
Here's the book in 20 seconds: Real millionaires are thrifty. Just saved you eight hours and a credit. Do yourself a favour and give this one a miss.
So much great info in here
Cannot believe just how much of it can be used
I've just finished my 2nd time through it and it's still great
- you miss things
Read it if u have children or don't have them
Read it if you're uber wealthy or not, or wanting to be
Because whoever you are you can still get a wealth of lessons from this book
It should be in the top 10 must reads
Really intetesting look at the research into what makes up wealthy Americans. Great case studies.
A must read for anyone wanting to be financially free and have an abundant retirement. Well researched facts and information.
This was by far the most interesting and informative insight into the finances American households. Listen to it, you wont be dissapointed
Read , listen...read again listen again and again. Simple and Powerful. One of the classics!!
A worthy listen about what makes a millionaire. Have to write extra words to meet the minimum word limit.
I am a 25 year old single male, no kids and no house. This book has changed how I think. I found the sections on "the children of the affluent" to be dull only because I have no kids but if you do, this book will resonate with you all the way through.