Audiobook Version (See below for text version)
Upon buying this book, I'd say I've passed one of the criterion of being a millionaire. Frugal. I bought this book at Payless Bookshop at RM13 (that's about USD$4) when the normal retail price is about RM40 (around USD$11).
The Millionaire Next Door showcases the surprising facts of millionaires. You'd be really surprised to learn where millionaires live, where they shop, how do they invest, what cars they own, how they become rich and so on. These facts are based on thorough research by two professors, Thomas J. Stanley and William D Danko. For a person like me that usually finds numbers, percentages and comparisons boring actually found this a very interesting read, I especially love the chapters on "Economic Outpatient Care".
Economic Outpatient Care (EOC) refers to substantial economic gifts some parents give their children and grandchildren. I've always wondered whether children of the rich will turn out spoilt like Paris Hilton or business smart like Ivanka Trump, The Millionaire Next Door mentions that economic outpatients do not accumulate as much wealth as their parents. The parents giving economic gifts do not have as much wealth as the parents whose children are financially independent. In this connection, the children who receives substantial economic gifts generally accumulates less wealth than those who do not or receive fewer economic gifts.
The main point of this book is that the millionaires are maybe your next door neighbour who are inconspicuous with their wealth, in fact, that's probably why they are rich in the first place. So the next time you see a person driving the latest BMW series or has an enormous home, you can't really judge whether they are rich till you look at their numbers. I highly recommend this book to anyone who is building wealth or who has no money sense at all ;).
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Comments
whassup?
hey, I think I have read that one ;)
Try the Automated Millionaire. it's good reading.
And the advise are practical too.
Hi Miriguy, who wrote the
Hi Miriguy,
who wrote the automated millionaire? I can't find it on amazon. Do you mean The Automatic Millionaire by David Bach? I've got his audio book. Really great stuff. So simple that I've never thought of it :)
yea :p
Lol.. sorry for slow respond. It's from david bach. yeah :)
NIce right?
Yes, very! Hehe. Very
Yes, very! Hehe. Very down-to-earth advice. I love listening to his enthusiasm on his audio book :)
SELLING FAST: We Sold Our House In One Day And You Can Too
April 6, 2008
To Thomas J. Stanley, Ph.D
Author, The Millionaire Mind, Andrews McMeel Publishing, 2000.
Dr. Stanley:
My wife Carolyn White and I have authored a 245-page book on selling homes fast in any market. We have 43 years experience in real estate and have had great success. We love your book and you'll enjoy ours also. We're not competitors at all. I would like to send you some pages and reciprocate with you on a link and a positive review if possible that we could use on our website. Let me know if I can forward some pages. I need your email.
Hope to hear from you soon.
Don White
Here's what we've said about your book:
Stanley is author of the number one New York Times best-seller, The Millionaire Next Door.” One big reason we suggest this book is found in 55 pages comprising Chapter 8, “The Home.” This chapter gives some great tips for those who would like to be numbered among America’s Balance Sheet Affluent (BA), the richest five- percent. One of the great assets of the rich are their growing real estate holdings. You'll love the book. We did! Don White
Congrats Don
Don, thanks for sharing your story with us. It's very inspiring. I wish you success in your new book. Let us know what the title is so we can keep a look out for it in the bookstores and purchase it. :)
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