Overview: I can sum up the entire contents of this book in one line… If you want to live like the millionaire next door, live in a house that is within your means and is the least nice house on the block.
This book builds on Stanley’s excellent book “The Millionaire Next Door” by restating what he said in that book–most of the wealthy in America are people who don’t look rich but drive sensible cars, wear modest clothing, and save a lot of money. These are usually entrepreneurs, not doctors, lawyers, and mid-level managers. So you “live like a real millionaire” by making modest purchases and saving the rest. I would read this book only if you haven’t read any of his others. But, really, “The Millionaire Next Door” is the one you should read–it is a classic.
Who will benefit most by reading this book: Those who haven’t read “The Millionaire Next Door” but are interested in understanding who is truly rich (has accummulated $1,000,000) in America.
How the rest of us can benefit: If you’ve read any of Stanley’s other books I wouldn’t bother with this one.
Complete Review: Stanley is a professor of economics and his writing style is more academic than many other personal finance books. I think that the message he is presenting is excellent, I was simply disappointed that this book was so much like his original classic, The Millionaire Next Door.
Published: 2009, 274 pages, 7 CDs (8:32)
Reviewed: June 2010 by Tyler Christensen
Other Reviews: The Simple Dollar, Wallet Pop, Richer by the Day, Christian PF
Official Site: http://www.thomasjstanley.com/
Tyler is a husband and dad, professor, writer, web designer, and DIYer.
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