The Millionaire Next Door: The Surprising Secrets of America's Wealthy [Hardcover]

William D. Danko; Thomas J. Stanley (Author)

Book Description

Publication Date: 1996

Shows some signs of wear, and may have some markings on the inside. 100% Money Back Guarantee.

Product Details

• Hardcover
• Publisher: Longstreet Press; 26th edition (1996)
• ASIN: B000VEF6DG
• Product Dimensions: 9 x 6.3 x 1.3 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.0 out of 5 stars  See all reviews (1,009 customer reviews)
• Amazon Best Sellers Rank: #932,030 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

499 of 533 people found the following review helpful:

5.0 out of 5 stars A Book Whose Time Has Come--wisdom long OVERDUE!, September 4, 1998

By A Customer

This review is from: The Millionaire Next Door: The Surprising Secrets of America's Wealthy (Hardcover)

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).

226 of 239 people found the following review helpful:

5.0 out of 5 stars Excellent-this book is must reading for everyone!, June 3, 1998

By A Customer

This review is from: The Millionaire Next Door: The Surprising Secrets of America's Wealthy (Hardcover)

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.

172 of 181 people found the following review helpful:

5.0 out of 5 stars This is how the rich become rich, January 29, 2004

By A Customer

This review is from: The Millionaire Next Door (Paperback)

Creating wealth is sort of like dieting.Everybody wants the end result but the discipline to achieve that result is usually lacking.Oh, if only there were a magic pill that you could take to lose weight or to create wealth without changing your habits. We would all be rich.FRUGALITY...FRUGALITY...FRUGALITY. It takes discipline.Contrary to certain opinions i.e. revews posted here, you don't need "a wad" to do this.However, by following these concepts, you will soon have a wad.There is no level of income that you can't outspend and yet most of us feel that we have an unlimited supply of cash.You would think that considering the ever increasing number of bankruptcies and mortgage foreclosures not to mention company downsizings that people would have learned by now. Peer pressure...keeping up with the Jone's drives many people to live beyond their means. Remember this: when your outgo exceeds your income, your upkeep will become your downfall.DELAY GRATIFICATION. Pay yourself first. Invest and then buy toys with the profits.Another good book to read is Rich Dad Poor Dad and Cash Flow Quadrant. Robert . Kiyosaki has a different strategy than Stanley and Danko in certain areas but is in agreement in other areas. The authors work compliments each other and I highly recommend these books to all would be financial achievers.Another book that is popular right now and says some of the same things is The Automatic Millionaire by David Bach.Read and grow rich.