Anyone read the book "The Millionaire Next Door" ?

BradShaw · 08-01-2003

Been doing alot of reading of late, very good book. Talks about being frugal, saving $, living below ones means, and saving. Makes some very good and interesting points. Also, I would have never have guessed that 21% of Russian-Americans are millionaires, highest of any ethnic class. When they descrive Russians and how they became so sucessful in American society I see alot of those traits in Serge. They almost descrive him perfectly!

Still have about half the book to go, what should I read next? Been reading financial, real estate, and tax books for the most part. Think I have read more in the last 2 months than in the last 8 years.

Winetalk.com · 08-01-2003

Quote:

Originally posted by BradShaw@Jul 31 2003, 11:53 PM
Been doing alot of reading of late, very good book. Talks about being frugal, saving $, living below ones means, and saving. Makes some very good and interesting points. Also, I would have never have guessed that 21% of Russian-Americans are millionaires, highest of any ethnic class. When they descrive Russians and how they became so sucessful in American society I see alot of those traits in Serge. They almost descrive him perfectly!

Still have about half the book to go, what should I read next? Been reading financial, real estate, and tax books for the most part. Think I have read more in the last 2 months than in the last 8 years.

Brad,
here is a tip for you...

I saw a bunch of Texan doctors unloading their swimming gear in...Iceland,
if you like salmon fishing,
Iceland is closer than Alaska and might be your paradise

BradShaw · 08-01-2003

Yes but KC is in Alaska to keep me warm. Actually buying a condo in Vancouver, tons of good fishing within a few hours drive. It has freaking killed me missing out on salmon fishing this year.

Winetalk.com · 08-01-2003

Quote:

Originally posted by BradShaw@Aug 1 2003, 12:09 AM
Yes but KC is in Alaska to keep me warm. Actually buying a condo in Vancouver, tons of good fishing within a few hours drive. It has freaking killed me missing out on salmon fishing this year.

Brad, due to our Oregon-Seattle connection,
we'll visit you next summer,
if you invite us,
like FM did
.-)))

seems like we ARE the only ones not in Hollywood
;-)

un1t · 08-01-2003

Quote:

Originally posted by BradShaw@Jul 31 2003, 08:53 PM
Been doing alot of reading of late, very good book. Talks about being frugal, saving $, living below ones means, and saving. Makes some very good and interesting points. Also, I would have never have guessed that 21% of Russian-Americans are millionaires, highest of any ethnic class. When they descrive Russians and how they became so sucessful in American society I see alot of those traits in Serge. They almost descrive him perfectly!

Still have about half the book to go, what should I read next? Been reading financial, real estate, and tax books for the most part. Think I have read more in the last 2 months than in the last 8 years.

Its not a bad book but it over-analyzes everything

Hooper · 08-01-2003

fun book to read, but as with most things if you assume that somebody else knows more than you then you are doing yourself a disservice.

Petr · 08-01-2003

Brad, about economics:

http://www.amazon.com/exec/obidos/ASIN/007...1879853-7382559

http://www.amazon.com/exec/obidos/ASIN/052...1879853-7382559

Almighty Colin · 08-01-2003

Quote:

Originally posted by Petr@Aug 1 2003, 01:57 AM
Brad, about economics:

http://www.amazon.com/exec/obidos/ASIN/007...1879853-7382559

I read the "Better Together" book from that page. Stiglitz. Pretty good.

Also the one listed under "Customers who bought this book also bought...". Good book on the Middle East.

Last edited by Colin at Aug 1 2003, 04:19 AM

JR · 08-01-2003

i love that avatar!

i like listening to audio books. www.audible.com - i listen to books usually all day long when i am working or driving.

Menace · 08-01-2003

I read it and thought it was pretty good. I currently have it in rotation in the guest bathroom.

BradShaw · 08-01-2003

Economics scare me, I got a D in college.

Timon · 08-03-2003

Did you get to the chapter yet that says if you have money you should stay low key and not constantly tell everyone about it?

BradShaw · 08-03-2003

Quote:

Originally posted by Timon@Aug 2 2003, 08:17 PM
Did you get to the chapter yet that says if you have money you should stay low key and not constantly tell everyone about it?

Timon, in the world away from internet chat boards I am very low key. I seriously see CANT see myself buying another sports car, or overly large home. Thinking very long term now.

Heck, I went to Vegas for lee's bachelor party and think I spend less than $1k. I have learned alot though. Much better to free load off rich friends! You should see the sunglasses and shirt mike bought for me!

Last edited by BradShaw at Aug 2 2003, 09:52 PM

Timon · 08-03-2003

Good to hear that Brad. IMHO the #1 most effective way to stay rich is to pretend you're not.

Nothing is more expensive than to be on everyone's "first person to ask for an investment or bail me out of trouble" list ;-(

BradShaw · 08-03-2003

I lived very low key up until a few years ago. Lived in a house I paid $233k for, and had few bills. Some days I miss that house, although I made $70k on it in 25 months.

I guess once you have a Ferrari, big home, etc. you see it is not all that exciting, and all down hill. Biz is great, but for how much longer, I save every possible penny these days.

I am now back to low key. In fact for instance tonight we went out for dinner and drinks, I drove SUV. Ferrari gets too much attention, I am shy.

Last edited by BradShaw at Aug 2 2003, 09:50 PM

detoxed · 08-03-2003

Hey, The Millionaire Next Door was a good book. Look into Dave Ramsey. He's a guy who made tons of cash, lost it all, and is a millionaire again. He has a radio show thats broadcast all over the country and also on his website, daveramsey.com. His advice is really geared towards poor people but if you listen to the radio show, people call in with great questions about taxes, real estate, investing, etc. You can learn a lot just by listening to a few shows.

Monk · 08-03-2003

Quote:

Originally posted by BradShaw@Aug 3 2003, 12:49 AM
I save every possible penny these days.
I am now back to low key.

Aren't you the one throwing the Winter Wonderland / Melissa RIvers wedding?

I remember them talking about that on some show and how expensive it was... even for a celebrity.

Almighty Colin · 08-03-2003

Quote:

Originally posted by BradShaw@Aug 3 2003, 12:28 AM
Timon, in the world away from internet chat boards I am very low key. I seriously see CANT see myself buying another sports car, or overly large home. Thinking very long term now.

So you took Ron's advice after all? ;-)

shawcutie · 08-03-2003

Quote:

Originally posted by Monk@Aug 3 2003, 01:31 AM
Aren't you the one throwing the Winter Wonderland / Melissa RIvers wedding?

I remember them talking about that on some show and how expensive it was... even for a celebrity.

We are not going as extreme as what she did. It does help also that we are only inviting about 100 people, very small and intimate. I am sure she had several hundred!! What did you hear about her wedding???

LittleC · 08-03-2003

I see marriage as a long term investment .....

You can't compare an expensive wedding with a sportscar or an overly large home...hehe

So, ShawCutie make him pay !!! Let him show you what you mean to him !!!

Monk · 08-03-2003

"it is assumed Rivers' strong pre-nuptial agreement saved her from paying Endicott anything near the $3 million her mother shelled out for the ''Dr. Zhivago''-themed wedding extravangaza at New York's Plaza Hotel in 1998."

http://www.cbs2chicago.com/zwecker/local_s..._175130353.html

shawcutie · 08-04-2003

Quote:

Originally posted by Monk@Aug 3 2003, 08:39 AM
"it is assumed Rivers' strong pre-nuptial agreement saved her from paying Endicott anything near the $3 million her mother shelled out for the ''Dr. Zhivago''-themed wedding extravangaza at New York's Plaza Hotel in 1998."

http://www.cbs2chicago.com/zwecker/local_s..._175130353.html

3 Million??!! I am all about nice things, but my taste is not that expensive!
She must have invited all of Hollywood plus the people outside!! Wow.

I wish there was a way for me to find more pictures. There just seems to be that one.

Sabby · 08-04-2003

Shawcutie... 3 mill or not 3 mill... I will live vicariously through you...

My wedding:
Sisters backyard... 4 months prego... and my absentee father showing up after 21 years of proclaiming I am not his daughter...

(even though I look EXACTLY like him... short bald guy with no teeth...)

LOL.

Please keep us posted with details hon

)

Sabby

shawcutie · 08-04-2003

Quote:

Originally posted by Sabby@Aug 4 2003, 06:08 AM
Shawcutie... 3 mill or not 3 mill... I will live vicariously through you...

My wedding:
Sisters backyard... 4 months prego... and my absentee father showing up after 21 years of proclaiming I am not his daughter...

(even though I look EXACTLY like him... short bald guy with no teeth...)

LOL.

Please keep us posted with details hon)

Sabby

Deal!! Trust me, I will tell anyone that wants to listen or even not

I am soooo excited!! Brads in charge of the food, I am in charge of the decor. LOL, I think we are going to be waaaaay over budget on the food/drinks, so he wont see that I am so over budget on the flowers

Mike AI · 08-04-2003

That is a great book. Explains alot about wealth buiulding. I found it interesting that Russian Emigrees have done the best...

Not to surprising I guess!

BradShaw · 08-04-2003

I think I am going to write a wedding guide for "the millionaire next door". Frugal frugal frugal! Already axed crab for krab.

KBpimps · 08-06-2003

Brad- read the book three years ago
then read the follow up The Millionaire Mind-

The 48 Laws of Power is one I have mastered-

Maybe you'll finally see why I drive a Camry.

Then again maybe you can't comprehend any kind of reasoning......

Sabby · 08-06-2003

Shawcutie...
I think you need to hang out at NakedSmartChicks...
we did a 6 page thread about Lizz's second boobjob... we could probably do at least 10 pages about your upcoming wedding...

(Just make sure you fill us in on Brad's total net worth...)

We will make sure we help you spend ALL his money!!!

hahahaha

(Brad I'm teasing)

Sabby

sarah_webinc · 08-06-2003

I would be a really crap rich person..I would still buy everything at the cheap shops and live in a small home. Then again, that may help me stay rich.

Sabby · 08-06-2003

Sarah, I am the same way. I paid off my first condo less than 3 years after I bought it.. working as a waitress!

I still have it today and it has increased in value over 30% !

I dont have a nice car... but I dont ever really go anywhere.

I do buy alot of clothes... but all underwear... and (costume) clothing/underwear/shoes and plastic surgery I bought last year... are TAX DEDUCATBLE!!!

I think I am every man's dream wife... if only I wasnt so damn BITCHY, LOL.

Sabby

sarah_webinc · 08-06-2003

haha, I have become the queen of tax write offs too. I have to pay American taxes despite not living there (no biggie but a pain) so I make sure that I do a website about just about every concert or movie I go to or book I read. Heck for a while I did a recipe site and put every night's meal recipe up on there and wrote off some food. As long as I make a bit of money on this site, I'm good.

Mike AI · 08-06-2003

It is nice to be frugal, so you have money for a rainy day and such....

But here is a little peice of advice, you cannot take your money with you. So if it you can use money to enjoy life a little more right now, as long as you can afford it, I think its a good idea.

I read the book, and while I learned a lot, it also depressed me reading about old people who never went out to dinner, cut coupons, only flushed toilets once a day, lived in a old house, never went on vacations - but now have a net worth of over 1 million dollars at age 68 or something!!

I think this is a little extreme....

Of course I still live on my moms porch, so what do I know?

scoreman · 08-06-2003

Good book, particularly took interest in the section on not having a financial life support for your kids.

I gotta agree with Mike AI on the fact that the book seemed to showcase folks who had earned alot and yet lived very little. I'm doing my best to see to my children's welfare, but I dont want to live my life on the cheap just so that my kids can have fat bankrolls.

Mike AI · 08-06-2003

Quote:

I'm doing my best to see to my children's welfare, but I dont want to live my life on the cheap just so that my kids can have fat bankrolls.

Exactly my point. Of course I do not have any children yet.... but I tell my parents all the time to spend all their money, don't leave any behind... enjoy life. I tell Granny the same thing....

Go on cruises, enjoy a nice dinner from time to time.... life should be enjoyed!!

slavdogg · 08-06-2003

great book, MiakeAI actually recomended this book about a year ago on this board.

btw, brad i believe it was 23% of Russian households and not 23% of all russian imigrants

Mike AI · 08-06-2003

Quote:

great book, MiakeAI actually recomended this book about a year ago on this board.

I did not want to steal Brad's thunder - he was very excited about the book!!

Anyone have any other similiar to this worth reading?

I am just starting a short book on the American Revolution that Colin passed on to me!

Colin had an idea of a Book Club.... might be a good idea for Oprano...

slavdogg · 08-06-2003

Oprano Book Club i like the sound of that
book clubs make good money.

Mike AI · 08-06-2003

Quote:

Oprano Book Club i like the sound of that
book clubs make good money.

I was not thinking about it for making money, more like the old school sharing books between friends....

But I am all ears for money making ideas!

american pervert · 08-07-2003

Quote:

Originally posted by Timon@Aug 2 2003, 09:38 PM
Good to hear that Brad. IMHO the #1 most effective way to stay rich is to pretend you're not.

Nothing is more expensive than to be on everyone's "first person to ask for an investment or bail me out of trouble" list ;-(

or the "I am too broke to pay rent right now, I'll pay you back next whenever" list

08-01-2003	#3
BradShaw Members Join Date: Jun 2003 Posts: 1,216	Yes but KC is in Alaska to keep me warm. Actually buying a condo in Vancouver, tons of good fishing within a few hours drive. It has freaking killed me missing out on salmon fishing this year. __________________ please report me to the IRS and get reward

08-01-2003	#6
Hooper Members Join Date: Oct 2002 Posts: 1,156	fun book to read, but as with most things if you assume that somebody else knows more than you then you are doing yourself a disservice. __________________ Quickbuck is paying $100 Per trial join.

08-01-2003	#9
JR Members The global leader in pay-per-view AEBN Join Date: Jan 2003 Location: in my chair Posts: 3,320	i love that avatar! i like listening to audio books. www.audible.com - i listen to books usually all day long when i am working or driving. __________________

08-01-2003	#11
BradShaw Members Join Date: Jun 2003 Posts: 1,216	Economics scare me, I got a D in college. __________________ please report me to the IRS and get reward

08-03-2003	#15
BradShaw Members Join Date: Jun 2003 Posts: 1,216	I lived very low key up until a few years ago. Lived in a house I paid $233k for, and had few bills. Some days I miss that house, although I made $70k on it in 25 months. I guess once you have a Ferrari, big home, etc. you see it is not all that exciting, and all down hill. Biz is great, but for how much longer, I save every possible penny these days. I am now back to low key. In fact for instance tonight we went out for dinner and drinks, I drove SUV. Ferrari gets too much attention, I am shy. Last edited by BradShaw at Aug 2 2003, 09:50 PM __________________ please report me to the IRS and get reward

08-01-2003	#7
Petr Members Join Date: Nov 2002 Posts: 49	Brad, about economics: http://www.amazon.com/exec/obidos/ASIN/007...1879853-7382559 http://www.amazon.com/exec/obidos/ASIN/052...1879853-7382559

08-01-2003	#10
Menace Members Join Date: Oct 2002 Location: New England Posts: 161	I read it and thought it was pretty good. I currently have it in rotation in the guest bathroom.

08-03-2003	#12
Timon Hospitality Supervisor Join Date: Oct 2002 Posts: 2,338	Did you get to the chapter yet that says if you have money you should stay low key and not constantly tell everyone about it?

08-03-2003	#16
detoxed Members Join Date: May 2003 Posts: 17	Hey, The Millionaire Next Door was a good book. Look into Dave Ramsey. He's a guy who made tons of cash, lost it all, and is a millionaire again. He has a radio show thats broadcast all over the country and also on his website, daveramsey.com. His advice is really geared towards poor people but if you listen to the radio show, people call in with great questions about taxes, real estate, investing, etc. You can learn a lot just by listening to a few shows. __________________ Promote Fling.com for $35 per sale and the BEST adult dating site

08-03-2003	#20
LittleC Members Join Date: Dec 2002 Posts: 291	I see marriage as a long term investment ..... You can't compare an expensive wedding with a sportscar or an overly large home...hehe So, ShawCutie make him pay !!! Let him show you what you mean to him !!! __________________

08-03-2003	#21
Monk Members Join Date: Oct 2002 Posts: 497	"it is assumed Rivers' strong pre-nuptial agreement saved her from paying Endicott anything near the $3 million her mother shelled out for the ''Dr. Zhivago''-themed wedding extravangaza at New York's Plaza Hotel in 1998." http://www.cbs2chicago.com/zwecker/local_s..._175130353.html

08-04-2003	#23
Sabby GOLD DIGGER Join Date: Oct 2002 Posts: 1,421	Shawcutie... 3 mill or not 3 mill... I will live vicariously through you... My wedding: Sisters backyard... 4 months prego... and my absentee father showing up after 21 years of proclaiming I am not his daughter... (even though I look EXACTLY like him... short bald guy with no teeth...) LOL. Please keep us posted with details hon) Sabby __________________ PROMOTE MY LIVE CAM and make 25% of everything your members spend for LIFE!!! (My screen Name is ImAllBoobs).

08-04-2003	#25
Mike AI Administrator Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 11,618	That is a great book. Explains alot about wealth buiulding. I found it interesting that Russian Emigrees have done the best... Not to surprising I guess! __________________ Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month!

08-06-2003	#27
KBpimps Members Join Date: Oct 2002 Location: La Costa, CA Posts: 91	Brad- read the book three years ago then read the follow up The Millionaire Mind- The 48 Laws of Power is one I have mastered- Maybe you'll finally see why I drive a Camry. Then again maybe you can't comprehend any kind of reasoning...... __________________ P.I.M.P. Professional Internet Marketing Person

08-06-2003	#29
sarah_webinc Members Join Date: Dec 2002 Location: American In London Posts: 966	I would be a really crap rich person..I would still buy everything at the cheap shops and live in a small home. Then again, that may help me stay rich. __________________ Special Boards Design Deal: 100 Banners = $799 ! Make 50% commissions promoting our pills! - sarah@webinc.com for details.

08-06-2003	#33
scoreman Members Join Date: May 2003 Posts: 7	Good book, particularly took interest in the section on not having a financial life support for your kids. I gotta agree with Mike AI on the fact that the book seemed to showcase folks who had earned alot and yet lived very little. I'm doing my best to see to my children's welfare, but I dont want to live my life on the cheap just so that my kids can have fat bankrolls.