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The Millionaire Next Door Audiobook

The Millionaire Next Door: The Surprising Secrets of America's Rich

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Publisher's Summary

Who are the rich in this country? What do they do? How do they invest? How did they get rich? Can you ever become one of them? Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised by what you find out.

©2000 Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D.; (P)2000 Simon & Schuster, Inc., All Rights Reserved, SOUND IDEAS is an Imprint of Simon & Schuster Audio Division, Simon & Schuster Inc.

What the Critics Say

"The implication of The Millionaire Next Door is that nearly anybody with a steady job can amass a tidy fortune." (Forbes)

What Members Say

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  •  
    Jeffrey Columbus, OH, United States 05-13-16
    Jeffrey Columbus, OH, United States 05-13-16 Member Since 2009
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    "A good place to start but watch out!"

    If you wish to retire as a paper millionaire, the basic advice presented in this book is sound, particularly if you happen to have disposable income. Careful planning, living below one's means, adequate income and proper investing can lead to economic self sufficiency. The book provides many examples of folks who did, indeed find financial success.

    But there are issues with some of the advice the authors provide. Single minded dedication to amassing wealth is often penny wise and pound foolish. Living in better neighborhoods might be more expensive, but they are often safer, provide better schools, and may generally provide a better investment in real estate. Saving money by not going on vacation deprives both you and your children potentially life changing experiences. Hoarding money by not giving to charity, or even your own children, does it's own kind of spiritual damage.

    The sections involving children are especially worrisome. If one follows the advice in this book religiously, a first generation millionaire family will likely end up a third generation pauper. It is important to teach children self sufficiency, but it is equally, if not more important, to teach one's children to manage million dollar investment portfolios, and to make informed decisions on budgeting and allocations of large amounts of money. After all, a wise person would not leave a large financial legacy without the tools to use it properly.

    The generation of wealth is not a goal in itself. In one example presented in the book, a woman expressed the goal to retire with five million dollars. Yet in the process of doing so, they live like paupers. This woman might never see retirement, might never enjoy all that money she carefully hoarded, might forever miss out on the joys and experiences that wealth can provide. Save for retirement of course, but never forget that we only get one life.

    And in the end, that's where this book fails. Truly wealthy people certainly plan for the future, invest properly, and save much of their income. Yet they also try to enjoy the fruits of their labor, and they share their wealth as much as possible.

    If you are not a millionaire but want to be, read this book. It's much of what your upper middle class parents should have taught you, but it's not everything, If money is all you care about, you will do well to follow the advice in this book. Yet if you wish to lead a rich life, the kind of life full of experiences and learning and yes, even of civil responsibility, you will do well to moderate your zeal of living the frugal life outlined in this book.

    3 of 4 people found this review helpful
  •  
    Lanitra Peoria, IL, USA 02-06-08
    Lanitra Peoria, IL, USA 02-06-08
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    "The Millionaire Next Door (Unabridged}"

    Very insightful!
    The book has a lot of info packed in it.

    1 of 1 people found this review helpful
  •  
    Michael Greenback, TN, United States 11-12-11
    Michael Greenback, TN, United States 11-12-11 Member Since 2011
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    "Not nearly as interesting as I thought it would be"

    I thought this was going to be an interesting inside view into the lives of millionaires....who they are....how they got there. In fairness, I suppose it has some of that but it's delivered with a level of excitement comparabe to an accounting teacher reading from an Excel spreadsheet. The book could be reduced to a pamphlet-sized document that says, "If you aren't getting rich, you're spending too much money."...... over and over and over.

    Initially I was very excited about this book but it turned into a struggled to find the will power to finish it. If it weren't for the fast-forward button, I wouldn't have made it. Particularly frustrating was the authors tendency to explain a simple subject with nauseating repetition. He went on and on and on about the right and wrong way to buy a car (according to millionaires of course). After I got the point, I rode the FF button a long time to get through that section.

    Besides the repetition, the authors tone was the next most irritating quality. It wasn't enough to just explain methods millionaires us to be successful....he presents it in terms of smart vs. dumb. The frugal people do everything right and the non-wealthy people do EVERYTHING wrong. It was so heavily biased that I expected him to say that non-wealthy people produce ugly babies. He gives lots of kudos for people that don't take vacations, don't buy nice things, and save every penny while those that travel the world and/or enjoy doing things that require spending money are presented as inferior. I don't want to be too hard on the author but his presentation makes me think that he would charaterize Ebenezer Scrooge as one of the "smart" people.

    The book provides interesting information about the habits of wealthy people but I was left with the highly unexpected feeling that I wasn't sure I wanted to be like them. Most of them try to live as close to poverty as possible. Memories of special occasions are described by most people I know as priceless. These people appear to prefer a mizer's life of pinching every penny. No thanks.....

    PS. He LOVES the word "prodigious". That word actually got stuck in my head and echoed for days after listening to this book.

    16 of 25 people found this review helpful
  •  
    Adam Arnold, MO, USA 04-28-04
    Adam Arnold, MO, USA 04-28-04 Member Since 2014
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    "Great to listen to and insightful"

    I listen to this book once on month - great to listen to with easy to understand examples.

    4 of 6 people found this review helpful
  •  
    Scott Orlando, FL, USA 03-13-05
    Scott Orlando, FL, USA 03-13-05
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    "An Eye Opening Experience"

    A phenomenal book worth listening to. If you want a financial paradigm shift, The Millionaire Next Door can definitely help get you there. It's eye opening!

    2 of 3 people found this review helpful
  •  
    zhuo yang Irving, Texas USA 12-08-05
    zhuo yang Irving, Texas USA 12-08-05 Listener Since 2005
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    "It is just one way to get rich"

    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?

    6 of 11 people found this review helpful
  •  
    Rich B 05-22-17
    Rich B 05-22-17
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    "Great book. Will listen again one day. Keeper"

    Overall excellent and entertaining with lots of statistics if you like that sort of thing... which I do. Might seem dated to some but I found it thorough and timeless with lots of lessons on how to not create a generation of UAW offspring.

    0 of 0 people found this review helpful
  •  
    TROY 05-19-17
    TROY 05-19-17
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    "yep"

    listen to the story over and over. The so-called trappings of wealth (expensive cars, luxury goods, fine wine) are a sign of weakness.

    Labor and toil should be given the accolades they deserve. Be mindful of the truth.

    0 of 0 people found this review helpful
  •  
    Amazon Customer 05-17-17 Member Since 2016
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    "heartbreaking info about my own ignorance of $"

    Worth the time to read or listen and take to heart what is being said.

    0 of 0 people found this review helpful
  •  
    Alissa Paxman 05-09-17
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    "Everyone needs these personal management skills"

    One might consider the book a bit dry, but the principles of frugality, personal restraint and consideration of the intergenerational consequences of ones decisions are classics for leading a productive and fulfilling life.

    0 of 0 people found this review helpful

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