I am a deep believer in the “spend less than you earn” philosophy, but I think he could have found better examples than frugal wives.
Here are some of those lessons: Spend less than you earnĪccording to the book, all the millionaires had frugal wives and they owe their wealth, in part, to the wife’s ability to cut coupons.
Although I loved the book, it’s credibility is highly questionable.Īlthough I don’t believe the research, I believe that the lessons shared are of great value to anyone who wants to increase their wealth. Where were all those millionaires? They were nowhere because they don’t fit the ideal character which Mr.
#Uaw millionaire next door movie#
In his samples, there were no females, no movie actors, no sports celebrities, no CEOs from big companies, no rich traders from Wall Street, no programmers from Silicon Valley or the equivalent from that time. It shares many of the principles and ideas that I am implementing to become a millionaire.Īt the same time, I think that the book is highly deceiving favoring the romantic idea of a person who starts from a humble background and who through decades of self-sacrifice, deprivation and hard work, becomes a millionaire.Īlmost all the subjects covered in the book were self-employed, white male, blue-collar workers. I really enjoyed the book and I think everyone who wishes to be a millionaire should read it. Stanley doesn’t tell us exactly the sample size, nor how he managed to have so much face time to interview all the subjects of his study. The book goes on to describe the habits of millionaires and of people with high incomes who are not millionaires.ĭr. My net worth is about $150,000, so according to this formula, I am a Prodigious Accumulator of Wealth (PAW.) Yeeeaaahhh. Let’s experiment, let’s see if I am a PAW or a UAW. If your net worth is below that number, you are a UAW. If your net worth is above that number, you are a PAW. He multiplies the person’s age, times their annual income, times 10%. He creates this division by using a formula. Stanley divides people into two categories: Prodigious Accumulators of Wealth (PAW) and Under Accumulators of Wealth (UAW). The ironic thing about his death is that after a lifetime of pontificating abstinence and frugality, he died while driving his brand new, luxurious Corvette. He wrote many New York Times’ best sellers including The Millionaire Next Door and The Millionaire Mind. He was a fantastic writer of business books. Stanley (1943-2015) left us last year after a fatal car accident. One of the millionaire’s habits is to constantly be on the lookout for good value. That’s an 80% discount for a book which is just as valuable today as when it was written in 1996. I bought this book at a second-hand store for only $2.
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