Millionaire! Everyone wants to be one. But Do you know What they did to make this fortune? How they did it? What was their strategy? Well today, I wanna review this awesome book named, ‘The Millionaire Next Door”. One of my teachers suggested this book to me by looking my interest in stock market and investment activities. But to my surprise this book does a lot of help to make your basics strong about the investments.
There’s a lot to say about this book, both positive and negative. It had some great ideas in it, some which are possibly quite revelatory for some people, and some really useful information which I would love to ensure certain people I know read. However, it was also a very dry read, somewhat repetitive and dwelled on some things I didn’t think were all that fascinating (like what sorts of cars millionaires drive). It also had a lot of charts, which is fun from a stats perspective and lends credibility, but it’s a bit too much irrelevant info to take in.
I felt author spent an incredible amount of this book talking about what happens to the kids of the rich. However, this can be used as a great parental tool to ensure parents teach their kids the right money tactics, whether starting rich or not. It also ends with sensible career ideas to suggest to kids which is very important to be a future millionaire.
In essence, the lessons from the book are to remain simple, save money and to ensure you keep your money wherever possible. Take good financial and legal help to ensure you save on taxes, invest wisely and whatnot.
Anyway, if you’re simple person and live below your means you’re on the right path. Then increase your income without changing your habits and be sure to invest the rest well and you’ll be fine.
Highly recommended book for those who wants to know, How ‘millionaire’ created their fortune, What do they do to keep it that way?