Author Topic: The Millionaire Next Door  (Read 8908 times)

240 is Back

  • Getbig V
  • *****
  • Posts: 102396
  • Complete website for only $300- www.300website.com
The Millionaire Next Door
« on: October 27, 2006, 10:22:44 AM »
Has anyone read it?  Incredible book...

Migs

  • Getbig V
  • *****
  • Posts: 14487
  • THERE WAS A FIRE FIGHT!!!!
Re: The Millionaire Next Door
« Reply #1 on: October 27, 2006, 10:23:34 AM »
yes i've heard of it, but never had the chance to pick it up.

drkaje

  • Getbig V
  • *****
  • Posts: 18188
  • Quiet, Err. I'm transmitting rage.
Re: The Millionaire Next Door
« Reply #2 on: October 27, 2006, 11:23:29 AM »
Its a good book but it works on the assumption that people are earning enough to meet their basic needs and are wasting the remainder. It's more a wealth-building model for upper middle class people with disposable income.

24KT

  • Getbig V
  • *****
  • Posts: 24455
  • Gold Savings Account Rep +1 (310) 409-2244
Re: The Millionaire Next Door
« Reply #3 on: October 29, 2006, 01:06:08 AM »
Ya, ...it's a great book.
w

Dos Equis

  • Getbig V
  • *****
  • Posts: 63696
  • I am. The most interesting man in the world. (Not)
Re: The Millionaire Next Door
« Reply #4 on: October 29, 2006, 01:40:06 AM »
Has anyone read it?  Incredible book...

Terrific book.  There are actually three of them.  The follow-up book "The Millionaire Mind" is even better.  I bought "Millionaire Women Next Door" for my wife.  She liked it.  Didn't read that one.   :)

mwbbuilder

  • Getbig IV
  • ****
  • Posts: 1141
  • Getbig!
Re: The Millionaire Next Door
« Reply #5 on: November 21, 2006, 06:38:07 PM »
Why is that such a great book?

Why shouldn't you enjoy your riches while you are here on Earth?

Enjoy fine foods, hotels, trips, cars, booze, and women?

You can't take it with you, you know.

And, being an atheist, there's no afterlife for doing ood deeds after your time here.

Terrible book!

Ron

  • Getbigistrator
  • Getbig V
  • *****
  • Posts: 12307
  • Getbig!
Re: The Millionaire Next Door
« Reply #6 on: November 22, 2006, 02:51:06 PM »

How about a synopsis or summary of the book, or the basic ideas in it for those who have not read it yet?

Childish///AMG

  • Getbig IV
  • ****
  • Posts: 1478
Re: The Millionaire Next Door
« Reply #7 on: November 25, 2006, 03:12:41 AM »
Good book. I will never purchase a  MB retail  :o :o Read the book and purchased from aprivate owner= about $8-10K saved. Let someonelse eat the depreciation. Private owner all the way from now on 8)

Debussey

  • Getbig IV
  • ****
  • Posts: 2707
  • The shadow braggs about hitting women
Re: The Millionaire Next Door
« Reply #8 on: November 25, 2006, 07:58:39 AM »
Why is that such a great book?

Why shouldn't you enjoy your riches while you are here on Earth?

Enjoy fine foods, hotels, trips, cars, booze, and women?

You can't take it with you, you know.

And, being an atheist, there's no afterlife for doing ood deeds after your time here.

Terrible book!

Brutal lack of logic and knowledge.
Support DEBUSSEYWORLD!

Debussey

  • Getbig IV
  • ****
  • Posts: 2707
  • The shadow braggs about hitting women
Re: The Millionaire Next Door
« Reply #9 on: November 25, 2006, 10:39:26 AM »
Thrift stores are also a great place to find popular books. Oh, and the local public library...

The Richest Man in Babylon is another real good one. Old school. Written in 1926.
The Richest Man in Babylon is one of the greatest books ever written. Brutal timeless advices. Is found at Amazon extremely cheap.
Support DEBUSSEYWORLD!

Dos Equis

  • Getbig V
  • *****
  • Posts: 63696
  • I am. The most interesting man in the world. (Not)
Re: The Millionaire Next Door
« Reply #10 on: November 25, 2006, 12:06:02 PM »
How about a synopsis or summary of the book, or the basic ideas in it for those who have not read it yet?


Mine are still packed away (still haven't completely unpacked after moving last year.   :-[).  But here are some highlights from memory:

- The overwhelming majority of American millionaires (people with a net worth of $1 million or more) did not inherit their money.  They earned it. 

- No big secret to how they made their money:  they live below their means and as their income goes up, their lifestyle remains essentially the same.  They save and invest the difference. 

- The biggest asset most of them have is their home.

- Many of them earned their wealth by owning their own business. 

- The majority of millionaires have never spent more than about $35-40k on a car.  They often buy used cars. 

- They clip coupons and shop at thrift stores. 

- The majority are "religious," have a family, and have been married to the same person for years. 

- They don't play the market.  They are conservative investors.  They typically invest and hold.

- There is a huge class of people who spend in anticipation of becoming wealthy.  As their income rises, their lifestyle rises along with it.  They belong to country clubs.  Own multiple very expensive cars.  Lease.  And some of them live paycheck to paycheck.  One of the books profiles two doctors who make about $700,000 a year.  One is comfortable (applying the above principles) and the other spends almost everything he earns (multiple country club memberships, cars, huge wardrobe, etc.). 

- Most striking thing I read was the average American millionaire can not bring in any income for the next ten years and maintain their current lifestyle. 

Completely changed my view of money and wealth.     
 

Hurricane Beef !

  • Getbig V
  • *****
  • Posts: 4723
  • Beat Coach, Wes & Chaos So Bad . . .
Re: The Millionaire Next Door
« Reply #11 on: November 25, 2006, 12:27:22 PM »
Does that book not speak to sound investments from an early age, practical spending and buying down debt?

I have done well in my life and as everone knows I just ( in April ) lost, through cutbacks a 6 figure job. Now thats not big in the US, but here in Nova Scotia $750,000 will buy you a 5 bed room house on the ocean that will knock your socks off. Danny Glover ( the actor ) just bough around here and James Brolin and other Clebs have homes around here. 

Now not factoring in my only good job I've had in my life, I have saved from early on. I had a paper route while I was in school ( starting at 11 and kept it while I was in High School. ) I saved and evertime I have a lump sum my mother placed it in Mutual Funds. Three Fridays ago, I looked into them and now have a balance of 3.1M. Not bad for someone who is 41 and has never had a break, so to speak.

Albert Einstein said compound intrest is mankinds greatest invention.

Invest, start early and never give up. It's at your lowest ( when I lost my good job ) that you need to do everthing to make that contribution. I was going to " hold off " and my Mother advised, " get another paper route if you have to, but don't stop make those bi -weekly contributions."

The Beef

Debussey

  • Getbig IV
  • ****
  • Posts: 2707
  • The shadow braggs about hitting women
Re: The Millionaire Next Door
« Reply #12 on: November 25, 2006, 12:30:19 PM »
Does that book not speak to sound investments from an early age, practical spending and buying down debt?

I have done well in my life and as everone knows I just ( in April ) lost, through cutbacks a 6 figure job. Now thats not big in the US, but here in Nova Scotia $750,000 will buy you a 5 bed room house on the ocean that will knock your socks off. Danny Glover ( the actor ) just bough around here and James Brolin and other Clebs have homes around here. 

Now not factoring in my only good job I've had in my life, I have saved from early on. I had a paper route while I was in school ( starting at 11 and kept it while I was in High School. ) I saved and evertime I have a lump sum my mother placed it in Mutual Funds. Three Fridays ago, I looked into them and now have a balance of 3.1M. Not bad for someone who is 41 and has never had a break, so to speak.

Albert Einstein said compound intrest is mankinds greatest invention.

Invest, start early and never give up. It's at your lowest ( when I lost my good job ) that you need to do everthing to make that contribution. I was going to " hold off " and my Mother advised, " get another paper route if you have to, but don't stop make those bi -weekly contributions."

The Beef

You are one of the biggest losers at this board, but that was a fucking kick ass post.  8)
Support DEBUSSEYWORLD!

Hurricane Beef !

  • Getbig V
  • *****
  • Posts: 4723
  • Beat Coach, Wes & Chaos So Bad . . .
Re: The Millionaire Next Door
« Reply #13 on: November 25, 2006, 12:41:24 PM »
Your Killing me Debussey, just killing me. LOL

The Beef

Debussey

  • Getbig IV
  • ****
  • Posts: 2707
  • The shadow braggs about hitting women
Re: The Millionaire Next Door
« Reply #14 on: November 25, 2006, 12:44:32 PM »
Your Killing me Debussey, just killing me. LOL

The Beef

Remember this? 8)
Support DEBUSSEYWORLD!

Hurricane Beef !

  • Getbig V
  • *****
  • Posts: 4723
  • Beat Coach, Wes & Chaos So Bad . . .
Re: The Millionaire Next Door
« Reply #15 on: November 26, 2006, 08:24:32 AM »
ROFL :)

mwbbuilder

  • Getbig IV
  • ****
  • Posts: 1141
  • Getbig!
Re: The Millionaire Next Door
« Reply #16 on: November 27, 2006, 11:51:51 AM »
The book main focus is about a person's ATTITUDE towards money.

Thsi author believes you should live well beneath what you can afford.

Just because something's in print doesn't mean you should blindly follow.

Think. Don't be like the massess of "sheeple."

It's just one man's opinion.

Look, we all are aware of the basic principles of maony management and wealth creation. That's not what this book is about.

This book's uniqueness is that it tries to sell your on the concept to live well beaneath what you can afford.

mwbbuilder

  • Getbig IV
  • ****
  • Posts: 1141
  • Getbig!
Re: The Millionaire Next Door
« Reply #17 on: November 27, 2006, 11:52:50 AM »
Brutal lack of logic and knowledge.

Would you care to expand upon your beliefs?

torquemada

  • Getbig IV
  • ****
  • Posts: 1260
  • Billycarp ruled...
Re: The Millionaire Next Door
« Reply #18 on: November 27, 2006, 03:49:46 PM »
It's a good book just to get the idea across that looking rich and being rich are rarely the same thing.  Ask Flex Wheeler...

Quickerblade

  • Getbig V
  • *****
  • Posts: 10165
  • "Check my soundscan, Check my instagram"
Re: The Millionaire Next Door
« Reply #19 on: January 01, 2007, 03:30:32 AM »
It's a good book just to get the idea across that looking rich and being rich are rarely the same thing.  Ask Flex Wheeler...
hahahahahah

240 is Back

  • Getbig V
  • *****
  • Posts: 102396
  • Complete website for only $300- www.300website.com
Re: The Millionaire Next Door
« Reply #20 on: January 02, 2007, 09:59:06 PM »
they teach you to be a better thousandaire, that's for sure!

24KT

  • Getbig V
  • *****
  • Posts: 24455
  • Gold Savings Account Rep +1 (310) 409-2244
Re: The Millionaire Next Door
« Reply #21 on: January 04, 2007, 03:17:50 AM »
I agree. These books are good guidelines...but since I'm not a millionare yet, I could be full of shit.

One thing tho. I went to this business seminar in LA Convention Center w/ Trump and that asian guy (Rich Dad/Poor Dad), and others. I though, hmm...might learn something.

Uh no. First off, 99% of it was just a bunch of "seminars" for salespeople hawking their warez -- buy my tapes/books/training/software and make a million in XYZ (real estate, stock market, selling foofoo items, etc.)! Second, everyone there was a clone of Vince Goodbum (I was like, oh holy shit I don't want to be in this social crowd). Sheep.

I saw one "seminar" about a stock product. They were selling software and training for like $12k (now, remember, these people are all Vince's -- no $ or brains). They got everyone all hyped up in a tizzy. And then dropped the bomb -- Today only! For the next 20 people (there were like 750 in the auditorium) it's only $4500!

f**k. People RAN to the stage. Ran to get scammed out of only $4500 instead of the full scam of $12,000.  ::) It's like, that's rule #1 of getting money -- don't get scammed by snake oil salesmen selling you on how not to get scammed by snake oil salesmen.

It was sickening and I left after a couple hours. Waste of time/money.

My point is that the books are like this sometimes...get you all excited with no where to go...but back to the book store to get the second in the series.

I understand the point you're making, ...but I think there is another perspective that should be considered.

Let's consider the real value, NOT in the discounted price of $4500 versus $12,000, but in the actual application of the knowledge gleaned.

ie: T. Harv Ecker went from zero to multimillionaire in only 2 and a half years. He attributed his success to "Think & Grow Rich". My copy of the book shows it as going for $4.95 when I bought it back in 1991. But if Harv paid $495oo for the identical copy, ...do you think he would he say he was ripped off?

Someone who pays $1oo for the same thing, but doesn't apply it, is the one getting shortchanged, and it is he who is ripping himself off.

I know for a fact that the Robert Kiyosaki's & Tom Hopkins' of this world, and many like them, do not give a rip about the income they make from books & tapes. Their fortunes are set. They have the knowledge, and ability to create fortunes many times over. Their desire and passion is to leave a legacy... a body of knowledge and guidance that will continue long after they are no longer here.

Quite frequently prices are set in such a way as to illicit a favourable response. And someone who pays $4,500 for something, is going to pay much more attention to what they've just paid for than someone who's paid $1.50. It is enough for them to take it seriously, ...and maybe, ...just maybe, when they do, ...they are able to experience the full benefit & value in the material.

This is one of the reasons why I rarely give products away. I find when i do, the value is not appreciated, and it is taken for granted. I don't like creating those kinds of stumbling blocks for people. However, let someone pay money for something, ...and they accord it the respect it deserves.

If you paid $12,000 for a simple idea, ...that went on to earn you hundreds of thousands of dollars... would you say you were ripped off, ...or that you got value for your money?  It's the same with a website. You sell websites to people. Some may say your product is a rip off, because people with the same knowledge can do what you do themselves. However, ...not everyone has the same knowledge you do, or is willing to go back to school for X number of years to acquire it. Just as the knowledge & experience being imparted by Kiyosaki, can be learned on your own, ...most don't have the time or desire to make the many mistakes it has taken to acquire the same level of knowledge. They'd rather learn from someone else who has already been there. For those who don't have your knowledge & expertise, you provide a product & service that has value. If someone were to purchase your product, ...then not use it. Did you rip them off, ...or did they rip themselves off? I would suggest they did it to themselves, ...not in purchasing your product to begin with, ...but rather in not using or applying it. The value isn't in the price, ...but rather in the fruits produced from the practical application of the product or service itself, and that's something you can't put a price tag on.
w

D-bol

  • Getbig IV
  • ****
  • Posts: 1553
  • Its only hard if you make it hard.
Re: The Millionaire Next Door
« Reply #22 on: January 13, 2007, 08:54:34 AM »
no book will teach you how to make big money

240 is Back

  • Getbig V
  • *****
  • Posts: 102396
  • Complete website for only $300- www.300website.com
Re: The Millionaire Next Door
« Reply #23 on: January 13, 2007, 01:58:31 PM »
no book will teach you how to make big money

i got a marketing book in 2005 which prob added 20k a year to my income lol...

D-bol

  • Getbig IV
  • ****
  • Posts: 1553
  • Its only hard if you make it hard.
Re: The Millionaire Next Door
« Reply #24 on: January 14, 2007, 05:06:40 AM »
of course
its all because of the book
have had no book you'd be a homeless living under the bridge...