10 of 19 people found the following review helpful
Don't know millionaires that throw fish in their back seat !,
By A Customer
This review is from: The Millionaire Next Door (Paperback)
While this book shed's light on Americas out of control spending habits and constant desire for more items and better items, I am particularly troubled by the 40 pages of references the author makes towards purchasing cars.
There are several chapters on how people with millions of dollars in the bank buys 5,000 dollar cars which are less than 1 percent of their net worth while all these other people with 4 or 5 thousand in the bank are out buying 20,000 dollar cars.
The American automobile plays an important role in the lives of many people, we use them to get to work, to get to the store, to drop off our children at school and so forth. While I agree that many people spend too much on cars, I would say that the average person cannot buy a car that is less than one percent of their net worth for the simple fact that one, cars are expensive, and two they cannot buy a 200 dollar car because they would probably spend thousands fixing it. Sure a man with a million dollars in the bank has no worries when his 3,000 dollar car blows a transmission he has the money to fix it, but given the dependence on our vehicles to live, the average person has no choice but to make an expensive investment in a reliable vehicle rather than buying one that will be in the repair shop.
There are way too many car references in this book that are just not logical in this day and age.
I also know several very wealthy people, and while many of them do not spend lavishly on ridiculous items, they all have recognized how hard they have worked and they all have created a lifestyle that rewards this and I find it hard to believe that the many millionaires in this book live the lifestyle described.
The book seems to make saving money a game and he with the most in the bank when they die wins.
I myself have several dreams and desires and I will not hesitate to invest my hard-earned money into those dreams. What good is a million dollars in the bank when you are 80 years old and can't walk more anymore?