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|| Outstanding study, monotonous style
By Jack Anderson on March 16, 2019
The Millionaire Next Door is an outstanding study about millionaires. The authors interviewed many millionaires for years and even though the book was released in 1996, it is still entirely relevant today.
The excellent title perfectly summarizes the book. We all have this idea that millionaires are driving Porsches, living in big mansions and wearing Armani suits or Dior dresses. While this may be true for the famous Hollywood actors or football athletes, we never hear about the vast majority of millionaires, which are depicted in this book.
I love one of the anecdotes where the authors explained that they organized a meeting with millionaires and had traiteurs and champagne and fancy wines, only to see the first invitee arriving and asking for a cold pop and a beer. This says it all.
There's also an excellent comparison. Most people you see jogging in the street are very fit and therefore don't actually need to become fit. Could the same be said for millionaires? If they became millionaires, it is because they saved a lot and invested a lot. Years later, why would they actually change?
While the study itself is really great and that there are gold nuggets disseminated throughout the book, there are lots of monotonous moments, which make the book a bit difficult to read, to be frank. Also, the acronyms of UAW, PAW are really much worse than the excellent Rich Dad versus Poor Dad analogy from the eponymous book from Robert T. Kiyosaki.
An excellent study with a monotonous style. I give it 5 out of 10.