About this title: Thomas J. Stanley destroys the myth that the majority of wealthy Americans have gained their fortunes through inheritance or lottery winnings. Instead, Stanley shows how hard work, savings, and smart investing have brought true financial success to average Americans.
Note: This is a general synopsis. Each listing is described below.
Binding: Audio Cassette
Publisher: Simon & Schuster Audio
Date Published: 2000-09-01
ISBN-13:9780743517836ISBN:0743517830
Description: Good. Plays great. Tapes in good shape. Sleeve cut to fist plastic presentation case. Former library copy with usual stickers, stamps, and markings. Satisfaction guaranteed. If item not as described, return for refund of purchase price. read more
Description: Very Good. 1563523302 Great condition Book Club Edition Hard cover book with paper dust jacket cover! Clean pages, dust jacket great, light shelf wear rubs, this book is GREAT! Shop & Save With US. read more
Binding: Hardcover
Publisher: Longstreet Press
Date Published: 1996
ISBN-13:9781563523304ISBN:1563523302
Description: Very good in very good dust jacket. one page with some wrinkles. Sewn binding. Cloth over boards. 258 p. Audience: General/trade. read more
Binding: Hardcover
Publisher: Longstreet Press
Date Published: 1996
ISBN-13:9781563523304ISBN:1563523302
Description: Very Good. Slight jacket wear with minor scuffing to edges. GoodwillnyBooks is committed to providing each customer with the highest standard of customer service. You may return new items within 30 days of delivery for a full refund. read more
Binding: Hardcover
Publisher: Longstreet Press
Date Published: 1996
ISBN-13:9781563523304ISBN:1563523302
Description: A wonderful copy with some minor edgewear to the cover. Dust Jacket has some edgewear present. -, Hard Cover, Very Good / Very Good. read more
Binding: Hardcover
Publisher: Longstreet Press
Date Published: 1996
ISBN-13:9781563523304ISBN:1563523302
Description: A wonderful copy with some minor edgewear to the cover. Dust Jacket has some edgewear present. -, Hard Cover, Very Good / Very Good. read more
Binding: Softcover
Publisher: Pocket
Date Published: 1998
ISBN-13:9780671015206ISBN:0671015206
Description: A wonderful copy with some minor edgewear to the cover. Previous owners name inscribed inside front. -, Trade PaperBack, Very Good / read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Very good. Book has appearance of light use with no easily noticeable wear. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Very good. Book has appearance of light use with no easily noticeable wear. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
Description: Good. Light shelf wear and minimal interior marks. Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More. read more
"I loved this book. A bit long but really intriguing. The research presented here indicates that those who are truly wealthy appear middle class in their cars, homes, cloths and activities. And those who appear wealthy with fancy cars, homes, etc have no real wealth. Why? because you can't save and invest effectively if you constantly spend all you have and more. So which is the way to live? Live lavishly and enjoy life, or live modestly and grow wealthy? Most in our society would say, live it up, have fun, impress your neighbors. Personally, I'd rather live quietly, not spoil my kids, have a reserve in case of hard times, and enjoy the peace knowing that if something happened to my job or my health, my family and I would be just fine. Besides, enjoying a good book by the fire with a cup of hot chocolate is better than a trip to the Bahamas!"
"this book was life changing for me. After growing up with a family that never knew how to save money. I wanted to educate myself on how to have control of my financial future. This book taught me so many wonderful principles. It also taught me that your neighbor that looks like they are wealthy may be up to their eyeballs in debt. Very important book in my life."
"A seriously great book. Makes you realize that the people who have a lot of things, are usually the people that don't have very much money and are generally living on credit cards, buying too many things. The people who you would never expect to have money, are usually the millionaires. It has a lot of statistics, which both of us "numbers" people loved!"
"Main message is: Be Frugal, invest. One driving a Benz is quite likely less worth than one driving a Ford F150 (since the Benz owner has already spent money). Max price paid by 75% millionaires for: Suit $600, Shoes: $200, watch $235 (50%)! JCPenney has toughest quality control amongst all stores. Millionaires' wives are all frugal too. They save coupons etc... 1. All have annual household budget 2. All have accountant 3. All have investments in stocks, real estate, business etc 4. Shopping method and principles (i.e. car purchase) VIMP: It takes only one fancy item to start the snowball effect. i.e. Rolls Royce as a gift was denied by a millionaire because all his accessories, clothes etc things would needed an upgrade to match that status symbol. Millionaires don't care about status symbols. The author calls them artifacts. They own, Ford (F150), Cadillac, Lincoln Town cars, Jeep, Lexus, Mercedes,, Oldsmobile, Chevy, Toyota, Buick, Nissan, Volvo, Chrysler, Jaguar. They tend to go for more weight per dollar criteria subconciously (comforts, reliability, safety).
The book gives distribution of folks per their ancesterial origin, job function, inheritance. Frugal millionaires have less worries in general. Doctors & Lawyers typically earn a lot and spend a lot.
The book could have been a little less lengthy; however, good thing is that it has come out of a thorough statistics from numerous interviews of millionaires.
Household net worth = Household Income + Investments - expenses. Typically, one tries to maximize income but also increases expenses to either show off or to be at par with the society or because one thinks that spending = enjoying. It takes only one high-class item to start the snow-ball effect. Worth of a person should be >= Age / 10 * Annual earnings before taxes (no investment). i.e. for a 30 year old making $100k/year, his worth should be: $300k or more.
If you are rich, your kids could have less net worth if you get into a teaching of spending or supporting them financially. The question that remains unanswered for me is: What to do with all the money when I save say a few millions? - I don't end up spending it due to my habit, - If I start spending, I am doing so when I am old and can supposedly enjoy less - If there is a recession or major financial problem (heart transplant), then I have more chances of survival (assuming US doesn't adapt good strategies of Europe and Canada about healthcare). - Once I die, Govt takes most for doing nothing.
It talks about what one should do with all the money (main part is to donate and distribute and how). I shall read it when I am older or a millionaire, whichever happens first. :)
The issues with financially helping out kids and continuing the help when they are adults is well listed. (Economic Outpatient Care). We weaken the weak by helping him financially.
1. Never tell children that their parents are wealthy. 2. Teach discipline and frugality 3. Don't let them realize that you are affluent until after they have established a mature, disciplined, and adult life-style and profession. 4. Minimize discussions of the items that each child and grandchild will inherit or receive as gifts 5. Never give cash or other significant gifts to your adult children as part of a negotiation strategy. 6. Stay out of your adult children's family matters 7. Don't try to compete with your children 8. Always remember that you children are individuals 9. Emphasize your children's achievements, no matter how small, not their or your symbols of success. 10. Tell your children that there are a lot of things more valuable than money
I, however, would rather have that questions hanging over me than having worries of how to sponsor my brother's / kids' education while carrying a $500 Nokia phone and driving a 8 cylinder fancy sports car..."
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