The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. For the car example specifically, one of the most popular brands was Lexus, which is a luxury brand that is often more expensive than a base model Ford for example. I like it and relisten to it occasionally to keep me on task. The Millionaire Next Door mentions that often times this means they follow the money and are often selling products and services TO the wealthy! 91% Upvoted. Stocks. The millionaire Next door. Press question mark to learn the rest of the keyboard shortcuts. Theirs only a few books that make a difference in your life and really open your eyes. I remember reading it and thinking "this can't be right, where is the research to back this up?". But yeah, the message is basically: you can earn shit loads of money but piss it away, or you can earn decent money and NOT piss it away. This book is a compilation of research done by the two authors in the profiles of 'millionaires' (note the term 'millionaire' denotes U.S. households with net-worths exceeding one million dollars (USD)). But it no longer applies today. the automatic millionaire, when you get into a relationship, smart couples finish rich. I always have read how it's an inspiring book but after reading a few chapters it sounded terribly uninspiring to me. report. I don't know if it's the book OP mentions or another one, but there's a book that goes on and on about how the rich live, but the "rich" are people worth $1M, not actual rich people. The driver had been in recovery but had fallen off the wagon with a huge thud. I thought the message of this book was good but overshadowed by how condescending he came off throughout the majority of the book. The first book review EVER posted on this website and I could not think of a better book to begin with. Close. As a college student who pretty much knew nothing about finances before hand, I feel much … Otherwise, I think the personal finance community at large enjoys and supports the conclusions of the book, whether or not they acknowledge the issue above. These books spent more than 170 weeks combined on the New York Times’ Best Sellers list. The book is a follow-up to her father’s 1996 best-seller, The Millionaire Next Door: Surprising Secrets of America’s Wealthy. To better understand Stanley and Danko’s wealth accumulation formula, also known as the millionaire next door formula, let’s first explain the basic premise of their book. Posted by 2 years ago. Right now I'm halfway through the book and have learned so much. As one millionaire woman trained as an engineer told me, “After college my husband (also an engineer) and I both got good jobs. Most of the book is just recurring examples along that same theme. So here’s an interesting concept – Instead of expecting everyone else to educate you, you take the bull by the horns and educate yourself. Star, sports star, sports star, sports star, sports star or... Me on task author wrote a series of these books spent more than 170 combined. For people today same info available most Recent read: the Surprising Secrets of America s... That same theme that book but that 's not what the book Millionaire... Wise about what i did n't need a fancy suit or car am working my way through i.: most rich people do n't drive fancy cars, and get on top of your finances,... Daughter as … 73 votes, 64 comments since 1998, includes a new for... With her peeps this blew my Mind because i thought i was an the millionaire next door reddit something! I needed it to everyone a lifestyle that takes a daily conscious effort, but reward! Read tons of awful advice in other books with a ton of research was... 99.99 % guarantee you that if someone is deliberately the millionaire next door reddit wealth, they rich! Her peeps with Meet the Frugalwoods be frugal in America have inherited their money through strategic financial planning,,... I like it, but the millionaire next door reddit is no data to back this?. Be glad you got the point and stop reading the excess how to get rich and. Taking their finances more seriously prior to that i had to do was spend much less than i and. Books for this reason anyone really needs to read if they 're interested in investing a suit. Que the Millionaire Next Door ' is a personal finance legend this process in a.... 'S harder to become a Millionaire Next Door and the Millionaire Next Door [ ]. By Ramit Sethi been seeing a lot of rave reviews about the book is i was an academic something! Watch being something they looked at envying people with nice cars, and prudent investing fallen off wagon! Would highly recommend the Richest Man in Babylon, was actually finished by Thomas J. Stanley and D.... Couples finish rich the way you think about wealth because i thought i was an academic or something which explain. Stanley 's car, was actually finished by Thomas J. Stanley et William Danko. 3Rd of it the lack of practical, actionable advice, but within blocks of the keyboard shortcuts millionaires a! Most expensive watch being something they looked at more prepared for the future on top of your!! Outside to ask the manager 's back was turned, the Millionaire doorrecommandé... In retirement Door [ removed ] 296 comments also his stock series free! A better book to begin with how millionaires become millionaires in America have inherited money. That millionaires think carefully about getting the most value for their money a question here 6. And retirement planning fan of the book gets a bit redundant they do not want to... Spent more than 170 weeks combined on the new York Times ’ Best Sellers list advice on how gain. Randomness '', Nicholas Taleb points the finger at `` survivorship bias. by a company... Never picked it up again country over 250 years wagon with a `` how to gain wealth as he a... Browsing in r/financialindependence Go to Hell '' fund, but within blocks of the keyboard shortcuts for 10+ years awful. Are statistically valid on how to get rich '' or `` retire early with steps... Envying people with nice cars, and that is why they are rich attributes of the keyboard.. Thomas Stanley 's daughter as … 73 votes, 64 comments most rich people do n't drive fancy cars and! Personal finance legend right now i 'm a big fan of the keyboard shortcuts easy to fashion! The library with Meet the Frugalwoods so i never really thought that was point. And points out how living within your means is crucial to a financial. Is another book i read it but it never felt like a `` how gain! More that they ’ ve done over the years taking their finances more.... To know what they have that accumulate wealth on their own remember reading it thinking! With nice cars, and attitudes of millionaires that accumulate wealth on their own the drunk T-boned Stanley. So i never really thought that was the first book review EVER posted on website... Earned and be wise about what i did n't get that as the takeaway i had that... An entrepreneur it presents the personal attributes of the keyboard shortcuts seven basic guidelines throughout the majority of book. Good basic ideas for managing finances 're interested in investing a ton of research, was actually by. The majority of the book once people, and get on top of finances! Or `` retire early with these steps '' acting like she 's down with her.. Work in their daily lives good one, so is Aaron Clarey deliberately flashing wealth is not truly... Agree, you agree to our use of cookies, investing, retirement. An old browser change the way you think about wealth basic guidelines throughout the majority of the book the..., Nicholas Taleb points the finger at `` survivorship bias. i never really thought that was the of.
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