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| The Millionaire Next Door : The Surprising Secrets Of Americas Wealthy | 
 enlarge | Authors: Thomas J. Stanley, William D. Danko, Cotter Smith
Category: Book
Buy New: $42.52
New (6) Used (7) from $29.62
Avg. Customer Rating:  791 reviews
Sales Rank: 819343
Format: Bargain Price, Unabridged
Media: Audio Cassette
Edition: Unabridged
Number Of Items: 6
Shipping Weight (lbs): 0.5
Dimensions (in): 7.1 x 4.3 x 1.8
ASIN: B0007YJ3TI
Publication Date: September 1, 2000
Availability: Usually ships in 1-2 business days
Condition: New, great condition
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Amazon.com Review
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.
Product Description
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....
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| Customer Reviews: Read 786 more reviews...
There is no level of income you can't outspend. August 5, 1999
455 out of 478 found this review helpful
I just finished rereading MillionaireNext Door for the third time, it's a great book, must reading for everyone and anyone serious about their financial future. I have also read some of the reviews. It seems that some people have confused the term "frugality" with "cheap". But I'll bet all of those detractors of this book are also paycheck to paycheck and deep in hock. Yes they may show all of the trappings of wealth; high profile job, beautiful house, 2-3 cars, beautiful clothes and jewerly etc., etc.But what is their net worth???? A key phrase is that there is no level of income that you can't outspend. You may make a million dollars per yearand live a beautiful lifestyle, but if you're spending 125% of your income, guess what, you're still BROKE! Along with Millionaire next door, I also suggest, particularly to the naysayers, "You earned it, don't lose it" "More Wealth without Risk" and "Financial Self DeFense" Money is somewhat like health. Many people just don't understand it's valueuntill it's too late!
 A Book Whose Time Has Come--wisdom long OVERDUE! September 5, 1998
438 out of 466 found this review helpful
I used to be one of those people who spent all or at least most of my money and thought I was doing okay with the little savings I had in the bank earning 2% (wow).I always bought brand new cars, new clothes, went on vacations 6-8 times per year and partied. I had a great time! One day my company shut down and I was forced to live on 50% OF MY INCOME. My savings dwindled to nothing and I had a hard time making car and credit card payments. I came to the realization that I was "renting" my "lifestyle" all of which was encumbered with debts and false belief in "job security" A friend loaned me a copy of "The Millionaire Next Door" and I had to painfully admit that I had been a fool. I met a really nice old couple in their '70's who never made much over minimum wage in salary, but were debt free and had 100's of thousands to retire on and were living better than the flamboyant fools like me who spent through their incomes. This book turned me around. I would also recommend "9 Steps to Financial Freedom" and 'More Wealth without Risk" to add to your library, or at least borrow from a library. I am now living better, earning 20-25% in mutuals, contribute to my new companies 401 (k), have a IRA and am DEBT FREE with the exception of my mortgage which will be paid off in five years (or less).
Excellent-this book is must reading for everyone! June 4, 1998
210 out of 220 found this review helpful
Every now and thena very, very special book comes along with a "aha" and this is such a book. Many people are spending their way through high incomes---keeping up with the "JONE'S" high profile lifestyle's encumbered with high debt and zero savings. I worked for a millonaire one time who said"Money buys clothes, clothes don't buy anything!" He advised us to buy our "toys" clothes, cars, vacations etc. off profits of profits and never spend principal! This mans nt worth was well in excess of $350,000,000. I would also recommend three other books; "RICHEST MAN IN BABLYON" by George Clawson, "WEALTH WITHOUT RISK" and "FINANCIAL SELF-DEFENSE" by Charles Givens. Remember, it's not what you make, it's what's left over that counts. If you spend all of your money on your lifestyle, guess what? You'll always have to! Good reading, excellent book.
A startling revelation on what it takes to create wealth. November 5, 2003
163 out of 165 found this review helpful
I can certaintly understand the controversy regarding this book. When I first heard of this book, I thought it was some ripoff book and approached this book with ambivalence. So I checked it out from my local library first and was so impressed that not only did I go out and buy my own copy, but also give it as an accessory gift for special occasions and recommend it to everyone I know.I also recommend "The Millionaire Mind" which is different from this book. That volume allows you to peek inside the minds of millionaires; shows you how the millionaires think. One caveat of these books is that they are dependent on income. You won't find anything in here on creating cash flow. For that I recommend "Rich Dad Poor Dad" whose ideas on staying debt free are somewhat similiar to what is recommended in Millionaire Next Door, but also provides ideas for creating wealth through additional cash flow. It is a book that should be written in addition, not in place of The Millionaire Next Door. Also recommend More Wealth Without Risk and Financial Self-Defense which offer actual strategies on creating wealth, reducing expenses and investing.
Still a good read January 30, 2004
145 out of 146 found this review helpful
Sometimes financial readers get stale and forget the value of older, quality books like The Millionaire Next Door. We get bombarded with so many new books that we think of anything that is more than a year old is out of date.When I see the 1 star reviews here, I have to scratch my head and ask why? If you really want to spend all of your income, why even bother to read a book like this one (my guess is that 1 star reviewers never read this book)and why bash it? Frugality is a discipline and unfortunately, discipline is tough. Keeping up with the Joneses may make you feel good but does you no good. If you live for your lifestyle and spend all that you make, you'll always have to. I know a guy that buys a new car every 6 months. Has the nicest clothes and takes two vacations a year. He owns a nice house and be sides his primary car, has a recreational vehicle and two other cars as well. I asked him how his investments are doing and he looked at me funny and said; "Investments? I can't afford investments." I later found out that he is also hocked up to his neck with credit cards. Living a little high? I think so. The Millionaire Next Door may tell you some things you don't want to hear but does tell you what you need to hear. Stanley and Danko's very carefully researched book shows you how many average people attained great wealth even on modest means. Stanleys followup book, The Millionaire Mind goes even deeper into the mental makeup of these millionaires. Another book worth reading is Ordinary People Extraordinary Wealth by Ric Edelman which also profiles wealthy millionaires but from a different perspective and is worth reading for all aspiring millionaires. For those who want to be financial savvy and learn the best personal finance strategies, I highly recommend More Wealth Without Risk by the late Charles J. Givens. Edelman's newest book, The Truth About Money 3rd edition is also a must read, pushes Givens and as a plus is the most current, complete and updated personal finance book. The Millionaire Next Door may have been around for awhile but it is still a good read, in fact a must read for anyone who wants to make the most of their money. I would also add in another classic book, The Richest Man in Bablyon which can be read in one night but I recommend that you read it every day for a month untill the concepts seep into your conscious and subsconious mind. Good luck to all future millionaires.
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