A review by karang
The Millionaire Next Door: The Surprising Secrets of America's Wealthy by William D. Danko, Thomas J. Stanley

4.0

One of the best reads on the topic of personal finance. I do think there's a lot of filler and redundancy in the book that you can just skim. The one main point that the book makes is that you should always live under your means. Which does make sense. If you save an extra $100 every month in less than 30 years that can add up to more than $83,000. The less you use the more you save. I also liked that most of the learnings in the book are not anecdotal but rather based on data obtained through surveys of millionaires.

Other than the "save more" point, the one major startling discovery was that when it comes to wealth, you cannot judge a book by its cover. or in this case a person by the car they drive, the clothes they wear, the phone they have.

One thing that it surprised me, was that the wealthiest individuals spend more time planning their finances. On the one hand being ruthless about knowing where your money goes does make sense but on the other hand I do think that spending a lot of time on your finances backfire. anyways, I'm still undecided on this issue.

I would definitely recommend this book to anyone entering the workforce. I will also definitely be gifting this book to some of my friends.