2. BUY it! · Book Review Actions · Book Reviews · Money

BR 71: The Millionaire Next Door by Thomas J Stanley and William D Danko

Category: 2 – BUY it! (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)

Comments: If you haven’t grown up in a business family, I feel this can be a very good ‘awareness’ book as you (like me) probably haven’t grown up listening and understanding how to manage finances. It’s just a great book to debunk some myths about millionaires as we know of them. The book basically illustrates how thrifty self made millionaires really are and how we always tend to hear about the flamboyant lifestyles of those who are most likely not going to stay millionaires (like wealthy football players).

I wasinspired by how good financial habits can pay rich dividends. The most inspiring bit was how a person with an annual income of USD 90K in his 40s accumulated a million with excellent financial habits.

What to expect: I’ve summed up some of my learnings from the book here . A watch out for the book is that the authors are not very concise so they often meander around a point forever and dump a lot of data. The takeaways are good though..

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