View Full Version : Millionaire Next Door
thebassman 05-03-2004, 06:21 PM I was given the book: Millionaire Next Door (http://www.chapters.indigo.ca/item.asp?N=35&R=1661772&act=A03&Item=978156352330&Section=books&Catalog=Books&Lang=en&mscssid=2KTGURHNP6R28H9XTPXN3B2F9MUQ90M6&WSID=1905064C4D45DC174EFCA2682F8DA4E747A71803) a couple years ago, and never got around to reading it... I moved recently, and it's back on my list of "books to read." Has anyone else read it? Good read/bad read? Should I move it up the list, or is it one I can read when "I get around to it"?
richardhutnik 05-03-2004, 11:33 PM If I remember the book correctly, I recall this one line that is useful to remember: "Big hat, no cattle". If you look into what Dave Ramsey, Rich Dad, and any other sane financial planner talks about, you will be able to put the Millionaire Next Door stuff in practice.
Pretty much:
1. Living under your means. You are not here to impress people that you have a ton of money.
2. Get your debts paid off.
3. Take and invest the surplus, and have wealth build on itself.
Simple formula but a bear to do, and most people won't do this.
- Richard
Goalguy 05-05-2004, 04:22 AM I've read it awhile ago and I would definitely say it's worth reading. You also might want to read The Wealthy Barber.
thebassman 05-05-2004, 07:08 PM Yeah, I read the Wealthy Barber a while back... If/when I choose to read the Millionaire Nextdoor, what are the main points I should be looking to get out of it? Is it the type of book I can just read, or are there excersizes I will have to be doing along with it? (i.e. can I read it on the plane, or do I have to read it at my desk?)
richardhutnik 05-06-2004, 09:40 AM Yeah, I read the Wealthy Barber a while back... If/when I choose to read the Millionaire Nextdoor, what are the main points I should be looking to get out of it? Is it the type of book I can just read, or are there excersizes I will have to be doing along with it? (i.e. can I read it on the plane, or do I have to read it at my desk?)
Millionaire Next Door is a study of how people got rich in America. It is a study of their spending patterns, habits, etc... It provides evidence of how they did it. For details on how to get there, you need to go elsewhere.
- Richard Hutnik
thebassman 05-06-2004, 10:13 PM So it's a good read for a plane ride or something, then, I guess, eh?
David 05-15-2004, 04:04 AM The Millionaire Mind is another book from the same author, it too is an excellent read.
infomodo 06-15-2004, 10:42 PM The Millionaire Mind is better than the MND if you are looking for more statistics and facts that show how millionaires live. MND was good, but I found MM much more applicable to your personal life.
Endurance 07-03-2004, 03:09 PM This book ws not among my favorites but if you alrady have it, why not take 45 minutes on night to sit down and read the first two chapters and decide for yourself if you would like to move this up on your list of books to read. If you find that you want to read the next chapter, I would say that it is a good indication this book has found a good audience in you. If not, move on to someting else that intetests you more.
According to Robert Kiyosaki, who is a renowned author and investor, the Millionaire Next door is an excellent book which outlines the differences in mentality between people who struggle to get ahead in life and people who are constantly living in a world of financial scarcity.
I haven't read it myself but I've read a lot of Kiyosaki's stuff and it's safe to say this guy knows what he's talking about.
The book is also on my to-read list, but it's 37 books long right now so I'm not sure when I'll get to it.
Hit me up if you read it and let me know what you think though.
Cheers.
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