Honestly, I found this to be just awful. Allow me to explain:
1) Generic: Most of the advice is horribly generic. "Spend less than you make", "Pay off debts", "Work hard" Yeah...thanks. Even the more specific "own, don't rent", "don't borrow money from friends", "don't rely on luck," "dress well/act wealthy" seem more like platitudes and not anything terribly new.
2) Over simplified: Again, most of it feels like platitudes. The advice is general with very little actual assistance in acting or implementing it. There is almost no explanation of how actual financial things work (interest rates, mutual funds, bonds, loan products, whatever, this book won't explain it). The tasks it does set are big "figure out what you want wealth for", "figure out how to define wealth/what is enough", "create an action plan to get out of debt if you are in it" and just leaves you to flounder for the answer.
3) Conflicting: The author says that you should read the financial sections of the paper and educate yourself thoroughly on money matters. Then in rule 27 he brings up the term "risk premium" but promptly says "forget that bit if you don't like jargon." The financial world is full of jargon...should I educate myself or not? Then he says he's not going to recommend specific texts to read...find your own. Yet in Rule 10 a footnote says "Go and read The Financial Times Guide to Investing by Glen Arnold." The list goes on...
4) Presumptive: The author makes some repeated claims that annoy me. He claims you should buy property and not rent and always couches his advice with the assumption that you have a house (and likely a mortgage). This fails to admit that property values can go down and that renting can save money which could be invested (which is interesting since one rule is that investments in stocks always beat property), PARTICULARLY if you don't live in a home long enough to pay it off. Further I love how he always assumes you get a pension (but fails to mention 401k's) which to me says he has no real feel for the reality of most modern workers. There is a simple little worksheet in rule 20 for assessing your current situation that assumes both. The calculation of inflow and outflow is also hilarious. (3 lines: salary - (fixed + variable expenses)). If anyone tried to use only this, I suspect they'd fail. Most people suck at estimating expenses (particularly things that aren't regular like annual tax bills, etc) and there's no guidance here how to do so.
5) Dangerous: One rule is about insurance (#23) - he states "most people don't get back more than 2/3 of the money they pay in insurance." Although he does caveat this with the comment that it's okay to have insurance if you can't afford "when the worst happens." First of all, this is an over simplification as it speaks in averages. Insurance is indeed a form of gambling in my mind, but it reduces risk of a low potential but high impact expense in favor of a definite but fixed expense. The author assumes that the money you don't pay on insurance will be available to pay for the worst later if need be - not everyone is that disciplined. And being self-insured really does put the vast majority of us one emergency away from bankruptcy. He doesn't say to give up this type of insurance, but the advice is so vague I could see where it could be be misused.
6) Offensive: There's a ton of language that says quite plainly "poor people deserve to be poor" and "people who don't have wealth are just too lazy to get it." To me that's terribly offensive. The book takes no account of circumstances whatsoever and places a lot of blame. Rule #1: "Anybody Can Be Wealthy - You Just Need to Apply Yourself" If you took this book at face value, you'd pretty much have to develop a contempt of anyone who wanted wealth but didn't achieve it and the attitude that anyone with less than satisfactory circumstances is pretty much entirely to blame. (Again, humorous since the last section of the book is on sharing wealth).
7) Fails to deal with varying circumstances: only one or two sentences in the entire book recognize that some wealth comes about as inheritance or the like. But the book otherwise assumes that we all start at on an equal playing field and either succeed or fail from there. That's hardly true...a kid who goes to a good school, is not abused or disabled, has access to mentors and a well connected network socially, has parents who pay for his college, share their own business acumen, set him up in a successful professional role, etc has a far better start than one who is raised in poverty, in poor schools with poor role models and lots of discouragement with no assistance from anyone. The book never or very rarely acknowledges the effect of disability, discrimination, initial wealth and circumstance, background, etc. If you do make it, you earned it. If you don't, it's all your fault. Personally, I have to admit that we each make choices and can work to improve our circumstances, but pretending that we all have equal opportunity and control over this and would all end in the same spot if we worked just as hard and thought just as smart is ludicrous.
I got nothing from this book. The "useful" advice to me was generic and obvious. The rest was offensive and frankly poorly written. The author talks in a very conversational but patronizing way, jumps around, etc. The "rules" formula is disjointed. Each is more like a little essay but the rules often ramble, feel disjointed from one another, repeat, and sometimes conflict. There is no real flow.
This book will not teach you an understanding of finances or investing. There is very little explanation of actual investment or debt repaying methods or handling of financial affairs (how to buy and sell things like houses, save for retirement, etc). Very little is actionable.
It annoys me to think that the author could be making money from selling this.
Update: the author is from the UK...this may be why 401ks are not mentioned. However, for those of us in the US work force right now this book is still that much further removed from relevancy.