What I love most about The Millionaire Next Door is it’s statistical approach to wealth accumulation – this book is based entirely on research comparing wealthy and “wealthy-looking” families.
You may have heard me talk about “doing the math first and then doing the marketing,” on the personal finance side The Millionaire Next Door” is all about getting the math right in a very practical way.
This book is a real eye opener on the lifestyles and behaviours of the wealthy. Imagine buying your car based on the weight to cost ratio! The research presented in this book states that one of the strongest correlations on wealth is car weight. This book gives us several very interesting wealth-related correlations that very few people know about. Educational and career choices, investing strategies, financial assistance with children are some of the many topics research in this book.
Written in 1996 this book predates Robert Kiyosaki’s Rich Dad Poor Dad by four years and takes, I think, a much more meat and potatoes approach to what living like “the wealthy” really means