The Millionaire Next Door

The Millionaire Next Door Review

An outstanding piece of research well presented and easily digestible. A must read for anyone who is serious about wealth generation.

I concur that there is probably an inverse law that states the more likely an UAW individual is to see themselves in the numerous negative case-studies, that the less likely they are to grasp the books central thesis and thus the less likely to either really benefit from the suggestions and ultimately, the less likely they are to enjoy the text and rate it favourably. Conversely, the more likely a PAW or an AAW aspiring to be a PAW is able to internalize the message the research is trying to convey, to see themselves or their aspirations in the case-studies and thus, the more likely they are to enjoy the book and rate it favourably. I maintain that how an individual digests, process the contents and subsequently rates this book speaks volumes about their consumer and investments habits.

However, having stated the above and genuinely agreed with and enjoyed the thrust of what Doctors Stanley and Danko had to say, I did find myself from time-to-time (especially in the early parts of the book) correcting the biased (and quite unscholarly) presentation of their statistics; examples: p.16., p161., and asking questions which they weren't asking in a desire to prove their central thesis. For example the correlation between the price one pays for one's suits and one's occupation and how that profession in turn has certain inescapable knock-on effects. That is to say some professions 'require' their participants to spend a disproportionate percentage of their incomes not on wasteful consumer items, but on staples that oil the wheel of their industry, e.g. suits, watches and other clothing and accessories. I suggest therefore, that the book devote a separate chapter to correlate this and offer advice as to which professions require a lesser expenditure simply to maintain a credible position and a proportionate level of income. A good number of the respondees appeared to be business owners in quite manual/blue-collar occupations, henceforth asking them how much they paid for a suit is a mute point and totally unworthy of mention. Likewise the story of the unwanted Rolls Royce is another perfect example of how such a gift is totally inappropriate for the realm in which that recipient dwells. Therefore trying to compare, contrast or correlate such expenditure across VERY different professions and very different social stratos is an utterly fruitless pursuit. Whilst the basic premiss might be to show that the UAW spend more on such items, those UAWs were paid professionals and not business owners and both respondents were working within different sectors therefore nullifying any such cross-reference. That I found annoying.

All-in-all however, an excellent book packed with lots of information and lots of chances to evaluate one's own wealth and expenditure. Agree with the contents or not? It doesn't really matter, the ideas proffered are sound and valuable and should be heeded by all.

The Millionaire Next Door Feature

• ISBN13: 9780671015206
• Condition: New
• Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed

The Millionaire Next Door Overview

The incredible national bestseller that is changing people's lives -- and increasing their net worth!

CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?

Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
Where did their ancestors come from?
How did they get rich?
Can I 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 at what you find out....

The Millionaire Next Door Specifications

How can you join the ranks of America's wealthy (defined as people whose net worth is over one million dollars)? It's easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means. The last rule is, choose your occupation wisely. You'll have to buy the book to find out the other five. It's only fair. The authors' conclusions are commonsensical. But, as they point out, their prescription often flies in the face of what we think wealthy people should do. There are no pop stars or athletes in this book, but plenty of wall-board manufacturers--particularly ones who take cheap, infrequent vacations! Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society. "You aren't what you drive," admonish the authors. Somewhere, Benjamin Franklin is smiling.

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*** Product Information and Prices Stored: Oct 31, 2010 07:53:07