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Old 01-26-2012, 07:43 PM
Status: "My eyes are rolled back so far I can see my brain." (set 13 days ago)
 
Location: Here.
13,387 posts, read 11,888,030 times
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I didn't read it. I'm holding off for The Millionaire in My House.

I glanced through it at the book store. Seemed like I knew most of the stuff already. I'm close to being a millionaire myself on a modest income, so I could probably write a better book.
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Old 01-27-2012, 06:22 AM
 
3,756 posts, read 8,211,067 times
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Quote:
Originally Posted by mysticaltyger View Post
I do think The Millionaire Next Door is a good book and not outdated at all.

One book that I think is as good or better is The Difference by Jean Chatzky. It is more current, published in 2008. It's also less preachy and in some ways more prectial in it's approach than Millionaire.

Amazon.com: The Difference: How Anyone Can Prosper in Even The Toughest Times (9780307407146): Jean Chatzky: Books

Thanks for the advice. I follow Chatzky on the Today Show. Will have to get this one too!
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Old 01-27-2012, 11:51 AM
jw2
 
2,028 posts, read 2,488,419 times
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I have not read the book but understand the gist of it from threads like this. My guess is most successful people (in this context, success means having $1 Million) have figured out what works on their own. If the common sense described in the book isn't obvious, the chances of success greatly diminish. In other words, it is not so much of an instructional book as it is a list of attributes of a group of people.
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Old 01-27-2012, 06:34 PM
 
484 posts, read 1,327,026 times
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I'll save you some money. Basically, the book says that to become financially secure, you should live beneath your means, save and invest, and spend wisely. It also helps to start a business too.

To tell you the truth, I don't think this book helps. I know plenty of people who live like those in the book, and none of them have ever read the book. They just grew up like that (and they're doing well now). OTOH, people with poor spending habits aren't gonna change their ways after reading this book. Basically, the book won't have much of an impact one way or the other. You were either raised by your parents to be financially disciplined, or you werent
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Old 01-28-2012, 05:10 AM
 
Location: Central CT, sometimes NH.
3,256 posts, read 4,910,950 times
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It's a quick read and available at the library. It contains some interesting information about the habits of wealth builders and destroys the popular belief that one needs to be born into a wealthy family, have a high-income job, or get a lucky break to become wealthy.

It also shows that small businesses that are not necessarily glamorous can provide solid incomes to accumulate wealth.
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Old 02-19-2013, 08:27 PM
 
1,862 posts, read 2,877,558 times
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It was ok, but not spectacular. Some of the advice was odd. For instance, the authors kept harping about how their millionaire subjects bought American made cars. Now when that book was written in the 1980s, American cars were in the toilet, quality-wise, and fuel economy-wise. If anything, buying an American car was a poor financial decision. Yet the authors seemed to think it was indicative of fiscal aptitude.
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Old 02-20-2013, 03:04 AM
 
64,681 posts, read 66,183,819 times
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as many times as i thumbed through the book i just have no desire to read it.

kind of like the rich dad poor dad stuff. loads of folks love it but i have never been compelled to read any of it.

i won't say it is not worth reading, it just doesn't interest me. i am more a harry brown ,bill bernstein,jack bogle kind of reader.
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Old 02-20-2013, 10:28 PM
 
13,713 posts, read 22,843,488 times
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Quote:
Originally Posted by josh u View Post
I'll save you some money. Basically, the book says that to become financially secure, you should live beneath your means, save and invest, and spend wisely. It also helps to start a business too.

To tell you the truth, I don't think this book helps. I know plenty of people who live like those in the book, and none of them have ever read the book. They just grew up like that (and they're doing well now). OTOH, people with poor spending habits aren't gonna change their ways after reading this book. Basically, the book won't have much of an impact one way or the other. You were either raised by your parents to be financially disciplined, or you werent

I do not think that the intent of the book The Millionaires Next Door was to be a "how to" book. Rather, it was a study trying to identify the common behaviors of those who have reached a level of wealth.
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Old 02-21-2013, 01:31 AM
 
12,842 posts, read 24,488,520 times
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It's a good book about mindset, but do note that that authors had the time/resources to write it thanks to "a small inheritance."
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Old 02-21-2013, 10:23 AM
 
Location: Tri-State Area
2,936 posts, read 5,049,124 times
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Quote:
Originally Posted by Lincolnian View Post
I've read The Millionaire Mind as well. A lot of it is common sense. The book contrasts the behavior and habits of people with high salaries and near zero net worth versus those of people who often have a modest salary and lifestyle but high net worth.

Whenever I think of this book I think of the commercial with the guy riding his new tractor in front of his big new house, talking about his new cars, his golf membership, etc., and he says, "I'm in debt up to my eye balls." There are a lot of people around like that.
Oh, you mean those who are "Big Hat, No Cattle" types.
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