One of my co-workers read this book last spring and she was very high on it. I picked up a copy around April because it was in the bargain bin and I admit, it’s a good read. Most of the information is dated (the book was published in 1996), but the core financial principles are universal in scope.
The authors of this book, Thomas J. Stanley and William D. Danko, have been studying millionaires for decades. They study everything about millionaires from their automotive decisions to their shopping habits to how they treat their children, where they live, where they work, and a multitude of other variables. The end results are fascinating. Most millionaires are the people living next door to you!
Stanley and Danko make some large, common sense generalizations about how to become a millionaire: spend frugally, research large expenses before they are made, be ware of get rich quick schemes, teach your children to be careful with money, don’t spoil your kids, don’t spoil your adult children, save for the future, etc, etc. All of these are basic principles that we each know (whether you realize it or not), but sometimes hearing real-life stories that back-up these principles can be very powerful. Stanley and Danko create a very powerful book by using excellent examples.
I highly suggest reading this book if you are interested in money or growing wealthier. It’s a quick, easy read that you will find hard to put down once you get to reading it. And hey – you never know…you might learn something about money!
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