The Millionaire Next Door

I absolutely loved this book because it really followed the lives of many American families and how they became millionaires.

It gave simple and yet effective strategies to become wealthy. It dispelled many rumors as well. I loved the fact that the book talked about how most, if not all, families valued education for their children. The families, no matter what, made sure their children had education paid for so their children could focus on education.

This book breaks down illusions about wealth and gives it to ‘em straight.

Just because you think a person has money, it doesn’t mean that they have money. In fact, those who flaunt their wealth could actually be headed for disaster, as they spend their dollars on an endless effort to impress, one-up, and reward themselves. And because they are spending money they are not saving money. So while their bank account plateaus (or worse, depletes), the account of the unassuming, unflashy neighbor next-door flourishes, as he invests, saves, and plans—placing the max amount of $ into his 401K—until he… show more.

This book offers a good reminder that appearances can be deceiving. Those who flaunt their luxurious lifestyles may actually be deep in debt, while those frugal souls who live next door may actually be quite wealthy. Since we ourselves like to wear blue jeans and sport cheap Casio watches, this book’s message appealed to us on a visceral level. It’s not so much a how-to manual on retiring early as it is a guide to the seven traits that tend to be shared by wealthy individuals.