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The Millionaire Mind Paperback – 4 Feb 2002


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Product details

  • Paperback: 416 pages
  • Publisher: Bantam (4 Feb. 2002)
  • Language: English
  • ISBN-10: 0553813641
  • ISBN-13: 978-0553813647
  • Product Dimensions: 12.7 x 2.2 x 19.8 cm
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (17 customer reviews)
  • Amazon Bestsellers Rank: 104,445 in Books (See Top 100 in Books)

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Amazon Review

What do you do after you've written the No. 1 bestseller The Millionaire Next Door? Survey 1,371 more millionaires and write The Millionaire Mind. Dr. Stanley's extremely timely tome is a mixture of entertaining elements. It resembles Chris Tarrant's hit show "Who Wants to Be a Millionaire", only you have to pose real-life questions, instead of quizzing about trivia. Are you a gambling, divorce-prone, conspicuously consuming "Income-Statement Affluent" Jacuzzi fool soon to be parted from his or her money, or a frugal, loyal, resole your shoes and buy your own groceries type like one of Stanley's "Balance-Sheet Affluent" millionaires? "Cheap dates" millionaires are 4.9 times likelier to play with their grandkids than shop at Brooks Brothers. "If you asked the average American what it takes to be a millionaire", he writes, "they'd probably cite a number of predictable factors: inheritance, luck, stock market investments ... Topping his list would be a high IQ, high SAT scores and grade point average, along with attendance at a top college." No way, says Stanley, backing it up with data he compiled with help from the University of Georgia and Harvard geodemographer Jon Robbin. Robbin may wish he'd majored in socializing at LSU, instead, because the numbers show the average millionaire had a lowly 2.92 GPA, SAT scores between 1,100 and 1,190 and teachers who told them they were mediocre students but personable people. "Discipline 101 and Tenacity 102" made them rich. Stanley got straight Cs in English and writing but he had money-minded drive. He urges you to pattern your life according to Yale professor Robert Sternberg's Successful Intelligence because Stanley's statistics bear out Sternberg's theories on what makes minds succeed--and it ain't IQ.

Besides offering insights into millionaires' pinchpenny ways, pleasing quips ("big brain, no bucks") and 46 statistical charts with catchy titles, Stanley's book booms with human-potential pep talk and bristles with anecdotes--for example, about a bus driver who made $3 million, a doctor (reporting that his training gave him zero people skills) who lost $1.5 million and a loser scholar in the bottom 10 percent on six GRE tests who grew up to be Martin Luther King Jr. Read it and you'll feel like a million bucks. --Tim Appelo, Amazon.com --This text refers to an out of print or unavailable edition of this title.

Review

"Readers with an entreprenerial turn of mind will devour The Millionaire Mind because it provides road maps on how millionaires found their niches" (USA Today)

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Most Helpful Customer Reviews

3 of 3 people found the following review helpful By Penny Farthing on 18 Oct. 2009
Format: Paperback
I have just re-read this book, several years' after first reading it. I found its academic and analytical approach helpful, and enjoyed refreshing my memory on the sections about the economically productive household, and spare time activities and habits of the wealthy. However, the section that struck me particularly on second reading was about choice of work, and the message that most wealthy people feel that their work is a vocation, and they have not made a choice between fun work, and work that is well-paid. This is definitely an interesting book, and a good follow on from "The Millionaire Next Door".
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7 of 8 people found the following review helpful By Peter Wade VINE VOICE on 31 July 2007
Format: Paperback
I haven't read The Millionaire Next door but it concluded that there were a lot of millionaires around and that they were ordinary people.

Other peoples wealth and how they earned it is a fascinating subject. Even more fascinating is trying to discover how it would be possible for any normal individual to acquire wealth.

This book splits readers into two camps either it is the blindingly obvious or it is a fascinating read. I like to read it and and read it twice.

The problem is those of us who are not millionaires would like to believe that those who have made money have done it by some trick. It is upsetting to read therefore that the top five success factors ware

Integrity
Discipline
Social skills
A supportive spouse
Hard work- more than most people.

It also confirmed that most millionaires had been told that they were not intellectually gifted or smart enough to succeed.

The out come is that they work hard at what they know how to do. They pay people to do what they cannot do and they take advice.
They stick to what they know and do it better than other people

They do not parade their wealth and try and get value for money.

Like most self help books it takes far too long to tell you the same thing and there are a lot of tables which do not bring much to the party.

The answer is if you want it enough you have to work for it and not spend it in the meantime.

If you want to spend it then don't expect to have it. It is a depressed for the terminally lazy and those who want it now.

Surely there is a middle course that is hard work and enjoy yourself.
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1 of 1 people found the following review helpful By Becca Flack on 10 April 2014
Format: Paperback Verified Purchase
Firstly, i recommend buying this second hand as it can be a lot cheaper and still in good condition. I was happy with the condition of the book i received, you could hardly tell it had been used and read before! The read itself was very informative and intriguing hence my 4 star rating. I would recommend this book, it has given me a alternate way of viewing things.
Very good.
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By Viktar Zaitsau on 30 May 2013
Format: Hardcover Verified Purchase
With my NLP background I was looking for some book of that kind. From NLP I have learned that it is all based on modelling successful people at accumulating wealth. It is a book profiling typical millionaires starting from values in family, through school and college years, their careers and businesses, marrige, the way they buy houses and cars, hobbies, where their kids go to school and college, if they get any finencial support from them and etc.

I model it in my life. I have read lots of books on wealth creation, but that and his first book The Millionaire Next Door stand out in simplicity, relevance. These book lift the curtain on how millionaires spend their life.

Strongly recommend.
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Format: Paperback
This is the follow up to the excellent "Millionaire Next Door", however it deals with stats on deca millionaires, those who are worth a minimum of $10 million.

People who although normally very average at academics, they are in the large part ultra confident "religious" hard working people of very high integrity. Now this is info we sure don't get from our ever truthful media outlets, some of these heavy hitters actually got their business ideas straight from heaven.

Get the audiobook to play in your car, you'll pick up some amazing pointers that will save you some serious time and money as you become a master of the financial universe.
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29 of 38 people found the following review helpful By Donald Mitchell HALL OF FAMETOP 500 REVIEWERVINE VOICE on 4 Aug. 2004
Format: Hardcover
This book is very seriously flawed in its methods, writing, and conclusions.
If you want to learn more about becoming wealthier, I suggest you read "Rich Dad, Poor Dad" and "The Cash Flow Quadrant instead.
The author surveyed hundreds of people in a few suburban communities. 733 turned out to be millionaires. The book is based on the self-reported results and perceptions of those 733.
Because of the way the sample was selected, you won't get much variety in type of millionaire. Very few inherited-money millionaires make it into the sample. Also missing are 17-year-old models who are on the cover of every magazine, basketball players who sit on the bench for the Celtics and earn millions annually, 25 year old ex-founders of Internet companies, and so forth.
Also, the results are not segmented very much. It would have been nice to have been able to slice the data to look at oneself and see where each of us fails to match up to the standard. This might have provided some ideas about what each person needs to do differently if one wants to become wealthier.
A lot of interesting questions are missed as a result. Are different paths working better now than in the past? What takes the least effort (if one is to be self-made)? What takes the least risk? What takes the fewest number of years?
Most observers would agree that the New Economy has changed the wealth distribution in the U.S. You will look in vain for much on this subject.
Also, since we are only looking at millionaires, we can't find out what is significant if we don't see how their attitudes and lifestyles are different from similar people who are nonmillionaires. That control group is essentially missing in this case.
Finally, what are the odds of success if you do what these people did?
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