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Book: The Millionaire Mind :: Zig Ziglar|Books :: Book
Date: Wednesday, 07 January, 2009 :: 14:47
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The Millionaire Mind
List Price: USD $16.99
from USD $6.59
Product Group: book
Manufacturer: Andrews McMeel Publishing
Studio: Andrews McMeel Publishing
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Editorial Review:
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Reviews:
Average Customer Review: 
Summary: A Sequel
Date: 2008-12-14 - 
Comment: "The Millionaire Mind" is a sequel of "The Millionaire Next Door". It is mostly the reiteration of the previous book, which adds minor traits to the framework. It also repeats some ideas from "Networking with Millionaires".
The framework by Thomas Stanley is a foundation of Robert Kyosaki's "Rich Dad", John Cummuta's "Transforming debt into Weath" and other financial intelligence books. John Cummuta have extended the ideas of Thomas Stanley by explaining the concept of compound interest, while Robert Kyosaki have resolved the issue of "live beyond your means", advocated by Thomas J. Stanley. The drawback of Thomas Stanley is that he doesn't seem to suggest what do with accumulated wealth, and only advocates being prudent and frugal as a lifestyle, e.g. do not buy luxury cars or boats or wear expensive clothing's. Robert Kyosaki have criticized this modest lifestyle and have solved this drawback by clearly defined the distinctions of assets and the liabilities and suggested that luxury cars should be purchased from yields produced by the assets rather than from cash flows diverted from obtaining assets.
So, the "The Millionaire Mind", although not a bad book, is a minor addition to "The Millionaire Next Door", where the author have devised the terms "Under Accumulator of Wealth (UAW)", "Average Accumulator of Wealth (AAW)" and "Prodigious Accumulator of Wealth (PAW)", and concluded that any American PAW household even with very modest income will become millionaire.
The main points of the framework are: Spend Less Than You Earn, Avoid Buying Status Objects or Leading a Status Lifestyle, PAWs Are Willing to Take Financial Risk if it is Worth the Reward and Economic Outpatient Care. The authors also make the interesting observation that UAWs tend to have children who require an influx of their parents' money in order to afford the lifestyle that they expect for themselves, and that they are less likely to have been taught about money, budgeting and investing by their parents.
I would suggest "The Millionaire Next Door" and "Networking with Millionaires" in addition to this book, as well as the works by Robert Kyosaki and John Cummuta.
0 of 1 people found the following review helpful:
Summary: Everything you need to know is in the first chapter
Date: 2008-10-01 - 
Comment: The first chapter contains all the statistical information you need to know, and the rest of the book just rehashes it. This book repeats itself over and over and over, and the examples often contradicted the advice given. For example, the book said that millionaires often rely on themselves for financial advice and don't follow the herd mentality. Then it provided examples of how selecting financial advisers was extremely important. I'll give you some advice: walk into a bookstore, read the first chapter, and then put the book back on the shelf. The rest of the book is BS--an obvious attempt by Dr. Stanley to become a millionaire himself without providing anything substantive. He ragged on economists for not contributing actual work--he should take his own advice.
0 of 1 people found the following review helpful:
Summary: Boring
Date: 2008-09-27 -
Comment: The Millionaire Next Door was great. This was a tedious, hashed-over version of it. Should have been titled, "We Wanted To Make Some More Money Without Actually Having To Write A New Book."
Summary: Audio book is the best
Date: 2008-06-12 - 
Comment: I bought the book few months ago but I did not finish it, so I bought the audio book that I play when I am driving around in town audio books are good for people like me who are busy.
1 of 2 people found the following review helpful:
Summary: Don't read this review! This book is not for everyone!
Date: 2008-05-14 -
Comment: Not everyone will benefit from this book. Those who have strong prejudices against the rich and believe wealth comes by winning the lottery may not enjoy it. (Don't read it unless you desire the truth.) Those who strive to do the right thing, live a balanced life and practice good judgment will love it. You will feel strengthened by the scientific research that confirms your beliefs about work, play, money and family. I absolutely loved this book and would strongly recommend it to everyone who desires to know how millionaires live and think. This is the best book I have seen on the subject hands down! - Pat Shamblin (720)422-7447 http://www.denverluxuryrealestate.com
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The Millionaire Next Door
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
The Richest Man in Babylon
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen
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