Kind of a boring read. Interesting at times. The grammar was sometimes horrible and so,ermines sentence structures were confusing.

2022-08-28 update:
The book answers the question: why am I not as wealthy as I should be? One answer: frugality.
Frugal = thrifty, sparing, economical. Defined as sparing or economical as regards money or food.
“Being frugal is the corner stone of wealth building.”
Great book.

Chapter “frugal, frugal, frugal”
“But the lavish lifestyle sells TV time and newspapers. All too often young people are indoctrinated with the belief that those who have money spend lavishly and if you don’t show it you don’t have it. Could you imagine the media hyping the frugal lifestyle of the typical American millionaire?” 29

“80% of America's millionaires are first-generation rich" - very true (in any country)
t• "I have always been goal-oriented. I have a clearly defined set of daily goals, weekly goals, monthly goals, annual goals, and lifetime goals. I even have goals to go to the bathroom. I always tell our young executives that they must have goals." p.45
t• "Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inhertied wealth, is what your net worth should be." p.13
t• Budgeting and controlling expences.
t• Frugal frugal frugal
t• "Have you ever noticed those people whom you see jogging day after day? They are the ones who seem not to need to jog. But that's why they are fit. Those who are wealthy work at staying financially fit. But those who are not financially fit do little to change their status." p.40
t• PAW vs UAW
t• "PAWs allocate nearly twice the number of hours per month to planning their financial investments as UAWs do." p.71
t• Yes there is "survivalship bias in this book": Only those who made it to millionaire status are interviewed.
t• Yet these people were not given a lot of money - in fact they were NOT given money.
t• Yet these people continue to be frugal and thinking about investments
t• Yet what probability do you have to get rich if you are not learning?
• Invert: How do you NOT become a millionaire? By not learning, saving and investing
• You would NOT recognize the average millionaire because they don't spend money on conspicous consumption
t• Generally they were self-made and often immigrants first, or second generation
t• Who becomes wealthy? There are 7 common denominators:
t
t1. They live well below their means
t2. They allocate their time, energy, and money efficiently, in ways conducive to building wealth
t3. They believe that financial independence is more important than displaying high social status
t4. Their parents did not provide economic outpatient care
t5. Their adult children are economically self-sufficient
t6. They are proficient in targeting market opportunities
7. They chose the right occupation

At this point, it is very outdated in terms if the research behind it (1996). I also think it is quite repetitive in getting the main points across. To learn everything from this book, just read some of the reviews here. The book flows from the assumption that being a millionaire is good and something we should aspire to.

HORRIBLE!! for a "self-help" book this was SO judgmental and condescending. Plus, I realize that this book is slightly outdated (but really, late 1990s isn't THAT outdated) but it's full of ethnic, gender, and status biases. DO NOT WASTE YOUR TIME!!

I liked the book. I gave it 3 because the take a-ways were fairly simple. The rest of the book was examples to detail the conclusions that the authors have drawn. Read it to remind yourself that you should spend less than you make, and save. Be frugal and invest and you can have a chance to have a decent retirement.

A seriously great book. Makes you realize that the people who have a lot of things, are usually the people that don't have very much money and are generally living on credit cards, buying too many things. The people who you would never expect to have money, are usually the millionaires. It has a lot of statistics, which both of us "numbers" people loved!

don’t judge me…. girl needs a budget

3.75 ⭐️

Contains some timeless widsom

Keep in mind this is a book written in the late 90s. While the numbers and data cited are outdated, this title contains enlightening insights. I found some of the teachings to be very illuminating.

In conclusion, The Millionaire Next Door is a fine book that most of us should read at least once.

It was a lot and I DNF 100%. Essentially it's the same as every other financial planning book. Be smart with your money, don't buy on credit, live an appropriate lifestyle not that of the rich and famous because in end you don't need to keep up with the Jones.

I hope all my loved ones read!

I re-read this book, it may be the only one. That is how much I love it. Whenever our status-conscious, materialistic society starts to convince me that I need to buy more, drive a better car, living in a bigger home...I read this book.

This book reaffirms those of us who have chosen a lifestyle of living way below our means and making decision with our personal finances to meet personal life goals. If you have ever had an interest in learning more about how the truly wealth live, read this book.

Solid Read about positive accumulators of wealth and under accumulators of wealth. Millionaires aren’t the ones driving around in Range Rovers, BMWs, Maseratis, etc. They are the ones in the Toyota RAV 4s, saving their wealth, rather than spending it.