Anyone read the book "The Millionaire Next Door" ?

[BradShaw]

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]

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]

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]

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]

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]

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]

Brad, about economics:

http://www.amazon.com/exec/obidos/ASIN/007...1879853-7382559 (http://www.amazon.com/exec/obidos/ASIN/0072509147/qid=1059722133/sr=2-1/ref=sr_2_1/102-1879853-7382559)

http://www.amazon.com/exec/obidos/ASIN/052...1879853-7382559 (http://www.amazon.com/exec/obidos/ASIN/0521775264/qid=1059722363/sr=2-1/ref=sr_2_1/102-1879853-7382559)

[Almighty Colin]

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

http://www.amazon.com/exec/obidos/ASIN/007...1879853-7382559 (http://www.amazon.com/exec/obidos/ASIN/0072509147/qid=1059722133/sr=2-1/ref=sr_2_1/102-1879853-7382559)
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]

http://www.showmestats.com/view2.gif

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]

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

[BradShaw]

Economics scare me, I got a D in college.

[Timon]

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]

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]

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]

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]

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]

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]

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]

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]

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 !!!



:D

[Monk]

"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 (http://www.cbs2chicago.com/zwecker/local_story_175130353.html)

[shawcutie]

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 (http://www.cbs2chicago.com/zwecker/local_story_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]

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]

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 :bdance:

[Mike AI]

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]

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

[KBpimps]

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...... :barfon:

[Sabby]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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

[Mike AI]

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! :D

[american pervert]

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