Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 06-19-2021, 01:38 PM   #81
Moderator Emeritus
Ronstar's Avatar
 
Join Date: Aug 2007
Location: Northern Illinois
Posts: 13,723
^ good for you! Congrats!
Ronstar is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-19-2021, 01:58 PM   #82
Recycles dryer sheets
 
Join Date: Sep 2020
Posts: 69
Quote:
Originally Posted by mountainsoft View Post
I finally got around to reading "The Millionaire Next Door" book.
...
I'm not sure what all the hype is about.
...
Maybe I read the book too late in the game. As I read through each story all I could think was "Duh", that's obvious....

This book just failed to capture my attention. I didn't find it interesting, so it took me a long time to read it. I'm glad I'm done with it, but it kind of burned me out and I'm not eager to start another book now.
Similar reaction for me; but then again, my parents were the type discussed in the book. It seemed to me that the authors were marveling at the fact that millionaires weren't conspicuous consumers!

Upon a second reading, I didn't get that sense as strongly; I think it was more along the lines that they expected their readers to be surprised by their findings. Also remember that the authors were marketing professors, so they were sharing the results of their survey-based research. Interesting to certain academically-inclined nerds like myself, but not so interesting to most people.

For me, the biggest value came in Chapters 5 and 6 [Ch. 5 - Economic Outpatient Care; Ch. 6 - Affirmative Action, Family Style]. I found it very instructive to see some of the mistakes that the wealthy sometimes make when it comes to 'helping' family members.

I almost quit reading before I got to those chapters. But I'm really glad I didn't!
ZachTB is offline   Reply With Quote
Old 06-19-2021, 01:59 PM   #83
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 30,502
Quote:
Originally Posted by corn18 View Post
I hate to use hyperbole, but I think this book saved my life. At the time I read it, I was making $350k / year and had a net worth of minus $200k. We were in debt up to our eyeballs and had very little to show for it. I read it and that put me on the path to change. Then my wife read it and she was on board. Luckily I was making a lot of money so we could cut spending and get out of debt quickly. Then the savings started increasing and I retired this year @ 55. What a ride.
Congrats to both of you!
__________________
Retired since summer 1999.
audreyh1 is offline   Reply With Quote
Old 07-04-2021, 07:46 AM   #84
Full time employment: Posting here.
nvestysly's Avatar
 
Join Date: Feb 2007
Posts: 572
DW and I read the book back in the mid to late 1990's and didn't realize it was "new" at the time. We were nowhere near retirement at the time but definitely working toward some version of FIRE. I agree the book is somewhat of a "duh, that's obvious" sort of scenario but reading it during that time of life definitely provided credence to our financial path.

We've given the book as a gift to people who are early in their financial lives with the hope that at least some of the ideas will "rub off" on them. Some of the gift recipients have indicated they didn't take time to read the book. Others indicated the book had too many statistics and was difficult for them to read. Some indicated becoming a millionaire was not achievable so they didn't want to even try! Oh well, we tried to throw a life preserver to a few folks. Guess I can't be concerned about what they chose to do with it.
__________________
Dreamin' of Streamin'
FIRE'd at 52 on 7/8/11
nvestysly is offline   Reply With Quote
Old 07-08-2021, 12:38 PM   #85
Recycles dryer sheets
 
Join Date: Feb 2020
Location: Danville
Posts: 167
The Millionaire Next Door was one of the first financial books I ever bought in 1996, along with Your Money or Your Life. TMND was very influential to me and helped to shape my mindset about money, frugality and building wealth. I became a PAW -prodigious accumulator of wealth after reading it. I reread it often as I do many of the financial books that I own because I just enjoy them so much. I was already frugal before I read the book, but became even more so after because the book made me see that I could achieve FI.
Blue531 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
another millionaire next door chuck FIRE and Money 3 06-28-2006 05:33 AM
Example of the "Millionaire Next Door" maddythebeagle Young Dreamers 7 08-02-2005 08:05 AM
What is your net worth based on the "Millionaire Next Door" maddythebeagle Other topics 10 07-28-2005 11:28 AM
Book Report - Millionaire next door cute fuzzy bunny Life after FIRE 72 10-18-2004 06:52 PM
Good book - The Millionaire Next Door Telly Other topics 18 08-20-2003 03:37 PM

» Quick Links

 
All times are GMT -6. The time now is 09:59 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.