The Millionaire Mind by Thomas J. Stanley
Posted by admin on Dec 2, 2007
By M. Skousen
Ever since Thorstein Veblen wrote “The Theory of the Leisure Class,” the critics of capitalism (including politicians and Hollywood producers)have delighted in bashing the rich for their “conspicuous consumption,” prospensity to divorce and find trophy wives, engage in white-collar crime, and avoid paying their “fair share” in taxes.
Now along comes the exhaustive work of Professor Tom Stanley, concluding that the millionaire wealthy class is in reality the model citizen! 92% are married and have been with their first wife for an average 28 years; they live well below their means; 40% have paid off their mortgage; few inherited wealth; over 90% are college graduates; most are not in the top of their class, but average “B” or “C” students; they avoid the lottery and gambling, and enjoy spending most of their time with their family or playing a game of golf with friends; 37% are deeply religious people who attend church regularly; integrity in business is their # priority, and they pay most of the income taxes in this country!
It’s great to finally read a book defending the wealthy and the truly successful in this country.
My only gripe: The book has no index!
The Millionaire Mind
The Millionaire Next Door by Thomas J.Stanley & William D. Danko
Posted by admin on Dec 2, 2007
By Bruce L. Oliver
The authors started studying how people become wealthy 20 years ago. It is very interesting to to see how the neighbor next-door becomes a millionaire and how that very same person spends his or her time at work, at play and with their family. The authors share the secretes of those millionaires in their book.
The millionaire next-door did not become a millionaire by winning the lottery or on Regis Philbin’s new game show: Millionaire. Most millionaire’s in the United States are people just like you and I except they invest their money on a regular basis and live modest lives. After interviewing over 1000 millionaires, they discovered that the average millionaire makes $131,000 per year but invests up to 15 percent of their income on annual basis. Most millionaires drive regular cars that they bought used for less than $25,000, live-in modest homes, and work in a non-glamour industry. As a matter of fact most millionaires are entrepreneurs that own and operate their own small business.
If you’re interested in making it to the ranks of a millionaire then I believe that this book is for you. It may surprise you to find out that that capability is within your reach. As the authors say, you have to learn how to become a PAW (prodigious accumulator of wealth) rather than a UAW (under accumulator of wealth).
The book certainly makes interesting reading for the curious and the serious. Then, the rest is up to you.
Secrets of the Millionaire Mind by T. Harv Eker
Posted by admin on Dec 2, 2007
By Carmen Matthews “Love Books” (San Diego, California)
This is a great book, because it starts with allowing readers to explore their subconscious, childhood money messages that are sabotaging their chance of being wealthy.
The theme is written from the premise of your worthiness thoughts lead to your actions which lead to your circumstances.
“Wealthy.” The meaning of “wealthy” indicates a great deal about who you are.
The wealthy at country clubs talk about a person’s net worth. The middle class at other environments talk about the raise. And the poor talk about making it.
One of the most hilarious parts to this book is the example of what happens when someone says, “Oh! Money is not that important.”
T. Harv Eker’s reaction is to tap the palm of his hand on his forehead as he say’s, “Oh! I get it. You’re broke!”
To do this, without regard for whose around and what the social situation is, would definitely be life altering for the person who says that money is not important. (I actually can’t imagine someone doing this in any situation other than if they are presenting a motivational workshop, where they are in charge.
But, nonetheless, imagining this happening was funny.
Beyond humor, this book compares the rich to the poor with these assertions:
1. Rich people believe “I create my life.” Poor people
believe, “Life happens to me.”
2. Rich people play the money game to win. Poor people
play the money game to not lose.
3. Rich people are committed to being rich. Poor people
want to be rich.
4. Rich people think big. Poor people think small.
5. Rich people focus on opportunities. Poor people focus
on obstacles.
6. Rich people admire other rich and successful people.
Poor people resent rich and successful people.
7. Rich people associate with positive, successful
people. Poor people associate with negative or
unsuccessful people.
8. Rich people are willing to promote themselves and their
value. Poor people think negatively about selling and
promotion.
9. Rich people are bigger than their problems. Poor
people are smaller than their problems.
10. Rich people are excellent receivers. Poor people are
poor receivers.
11. Rich people choose to get paid based on results. Poor
people choose to get paid based on time.
12. Rich people think “both.” Poor people
think “either/or.”
13. Rich people focus on their net worth. Poor people
focus on their working income.
14. Rich people manage their money well. Poor people
mismanage their money well.
15. Rich people have their money work hard for them. Poor
people work hard for their money.
16. Rich people act in spite of fear. Poor people let fear
stop them.
17. Rich people constantly learn and grow. Poor people
think they already know.
This is a great book because with each assertion T. Harv Eker gives excellent real life scenarios, as well as experiences that he has live through.
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth