The Millionaire Next Door gives us an eye opening view into the lives of millionaires and their life styles. Normally we have the impression that most millionaires are the ones who live the most visible wealthy lifestyle, drive the fastest cars and have the big houses on the lake. The Millionaire Next Door looked into these people's lives and we come to find that most of them live the same life we do. One of the main points of the book is how Millionaires live well below their means, they also believe that financial independence is more important then displaying high social status. The book also focuses on how most millionaires are self made and not wealthy from their prior generation. I agree with a lot of the points that are made in this …show more content…
In other words, there is no promise of a rose garden.” This quote is good since its states how it really is, life is not always a rose garden. In order to become successful you must work hard to get there. Another quote that I like is “It matters less how much more you make than what you do with what you already have.” This quote is good since it relates to those who are not prior generation rich. It saying to take what you have and build on that. This next quote I also find powerful “Money should never change one’s values…. Making money is only a report card. It’s a way to tell how you’re doing.” I like this quote since its describing how even if you have a lot of money, you still have value. This is why most people who have wealth donate large amounts to charities. I believe that this quote is good for people who are in a relationship “Most people will never become wealthy in one generation if they are married to people who are wasteful. A couple cannot accumulate wealth if one of its members is a hyper consumer.” I believe that they is a key factor for getting wealth if you are in a relationship. Both parties need to agree on a budget and not overspend. Both parties also need to agree to the the fact that they do not to have a rich image about them. For my final quote I picked “One of the reasons that millionaires are economically successful is that they think differently.” I like this quote since it deals with the fact that you
The article “Luxury Shame,” written by Johnnie Roberts describes how and why the rich are scaling back on their extravagant expenditures. Initially, I was annoyed and shocked at how the very rich were assimilating their unfamiliar experiences of “recessionary times,” with those that experienced the emotions of poverty. Roberts explains the ostentatious life of multimillionaire Michael Hirtenstein, who would routinely and openly show off his profitable real estate collection. After the economy took a turbulent downfall, Hirstenstein and other wealthy Americans began to feel the shame or embarrassment of flaunting their wealth. Despite the “halt” to the economy, Hirstenstein became frugal with his money, even though he could have easily bought whatever he wanted.
The quests for gold at the end of the rainbow, the hopes of thousands to one day live the fabled American Dream. Worldwide, everyone who is capable looks for their chance to strike it rich. Some of the most successful people today, such as Apple’s Steve Jobs and OK! Magazine’s Richard Desmond, have risen from tough backgrounds (Serafina). Growing up in abject poverty, these individuals found ways to push past the glass ceiling in their respective fields. Interestingly, many of them share similar obstacles on their way to the top.
In ?A & P? John Updike gives a story of a man faced with two choices for his life in a seemingly unimportant circumstance. He can stand up for himself and for his rules, as his manager encourages him to do so. But as the story goes, he remains oblivious to the forces at work, and decides to bend his will to three girls in bathing suits, or more generally, to those who have the power and nobility of wealth behind them. Sam makes the wrong choice, and subsequently, makes the rest of his life more difficult, as he admits that he must life his life under another class of people, the wealthy, as though he is less than them. By admitting that he is less than them, Sam has started to live his life not for the happiness he can obtain, but for the wealth he can obtain.
Brian purchased the finest penthouse that his money could buy. After all, “I deserve it”, he would boast to friends. Expensive white Italian silk suits, alligator shoes, and a red Lamborghini sports car with license plates that read “MONEY” were his trademark. His penthouse apartment held a sweeping vista of the city along with elegantly appointed rooms, marble entry, a swimming pool and a sauna. Art work from the masters and rare collections were an impressive site to visitors. Brian had all the latest toys and electronics gadgets a young man could desire. A staff of servants cooked, cleaned and pampered him where ever he desired.
The United States had recently faced an economic recession that resulted in company bankruptcies, therefore causing unemployment spikes and home foreclosures. In the media, two movie have recently came out with two movies that plotted around recently unemployed middle-class families that are struggling to keep up with their standard of living and facing bankruptcy. In the movie, Mad Money, the main ch...
Wolff, Tobias. “The Rich Brother.” Making Literature Matter. Ed. John Clifford and John Schilb. 2nd Ed. Boston: Bedford/St. Martin’s, 2003. 391 – 403.
A young woman marries a rich man that she doesn't love. A wealthy man gets more greedy with another paycheck. A hopeless soul steals and kills to get a glimpse of what wealth feels like. The majority of Americans long for richness and the idea that this green paper will bring happiness and satisfaction. In The Catcher in the Rye by J.D. Salinger, Holden comes from a wealthy family and has dealt with many challenges, so he understands what money can do. In Into the Wild by Jon Krakauer, Chris is also from a wealthy family. Like Holden, He wants to leave society because of its responsibilities and the high standards people try to reach. Most importantly, Both characters understand and agree upon what wealth and materialism can do. Holden and
In the story “The Rich Brother,” written by Tobias Wolff, a teacher of creative writing at Stanford, a Vietnam veteran, and winner of the Los Angeles Times Book Award, he writes about two brothers. The two brothers, Pete and Donald, are having a conversations on the trip back to Pete’s house. Rich can foremost be defined as having a great deal of of money or assets, this definition can lead the reader to claim that Pete is the rich brother, however rich can also be defined as pure or nearly pure, so by definition both brothers can be rich in different ways. Likewise the main two questions that the story creates are: what does it mean to be rich, and who is the rich brother, Pete or Donald. The word rich is a versatile word with many definitions.
The Millionaire Next Door written by William Danko and Thomas J. Stanley illustrates the misconception of high luxury spenders in wealthy neighborhoods are considered wealthy. This clarifies that American’s who drive expensive cars, and live in lavish homes are not millionaires and financially independent. The authors show the typical millionaire are one that is frugal, and disciplined. Their cars are used, and their suits were purchased at a discount. As we read the book from cover to cover are misconceptions start to fade.
The book I chose to review for this course is titled, “The Millionaire Next Door”, by Thomas J. Stanley, Ph.D., and William D. Danko, Ph.D. After learning that it was published in 1996, prior to the widespread availability of the internet, and subsequent ebusiness boom, I was slightly sceptical that the information held within might not be relevant for someone like myself trying to thrive in today’s chaotic economy. Fortunately, I was wrong. The Millionaire Next Door is full of concepts and principles that put into perspective how we view money and status in our society, and also debunks the myth that America’s wealthy are the ones doing most of the spending while living elaborate and carefree lives. There are several ‘takeaway’ principles that are presented to the reader. I will be focusing on the five concepts and ideas that impacted me the most.
Some people believe that if you work hard, get an education, and stay focused, you will be able to be successful and fulfill all your dreams. Others believe that only if you are born into a family of money will you be able to be wealthy. Both thoughts have some flaws in their description. For example, just because you always work hard and get an education does not mean some life event might happen that can cause some setbacks. Also, just because you are born into a wealthy family does not mean you are smart enough to keep the wealth.
Carnegie opens his essay with the statement that there are three main ways most wealthy people use or distribute their money. First, some pass their money on to the next generation. Children...
In the book “Think and Grow Rich,” the author, Napoleon Hill, provides a set of principles that he calls the key to financial success. The idea at the center of these principles is that one becomes what he or she frequently thinks about, in this case success (i.e. rich). Hill lays out a method he created to translate one’s thoughts into reality, creating an insatiable hunger and drive within an individual to succeed. Using the examples of his son and some of America’s legendary iconic business leaders, of which Hill studied and interviewed, including Edwin C. Barnes, he demonstrates that anything one puts his or her mind to can be produced and conceived.
There are many aspects and philosophies that make a person wealthy and you have to learn to manage your life and expenses. Contrary to popular belief people do not have to live their entire life underneath a mountain of bills and debt. Our society teaches as a whole to live beyond our means, always have a car and house payment. Live off credit cards and just make the payments. More often than not, the more people make the more they spend and they increase their cost of living.
Rich Dad, Poor Dad is a book that educates readers about financial literacy. Robert Kiyosaki, the author, has two dads – one rich and one poor, although the rich dad is not his, but his friend’s dad. Both dads have different views about earning money, and Robert had the choice of contrasting both views while growing up. His rich dad’s views were more powerful and useful to Robert. The author guides the reader through six main lessons his rich dad taught him on how to let money work for you, instead of working for money.