Have listened to 3 out of 7 discs of The Millionaire Next Door, and so far I haven’t found them as useful as other resources.  So far, their main teaching can be summed up in 2 areas:

  1. Frugality & thriftiness
  2. Balance of good defense (in terms of investing smartly) & good offense (high & multiple streams of income)

I already am frugal by nature, and I’ve already learned that it’s important to have a good “defense” when it comes to money.  The book reads more like a report, than a guide to becoming wealthy.  The authors keep giving very similar example stories of seemingly unexpected millionaires – Joe Schmo who lives in a modest house, drives a modest car, doesn’t spend lavishly, etc. but who has a large net worth- and it gets repetitive quickly.

I’m starting to think the key message of Stanley & Danko is that one must live frugally  and make smart investments, in order to be wealthy.  Not that I want to have an overly extravagant lifestyle, but I also don’t want to have to worry about going over a certain money limit.

Will listen to the rest of The Millionaire Next Door, but so far it hasn’t inspired any ideas for generating wealth.

One very good thing is I discovered another inspiring millionaire – Steven K. Scott.  I heard him via the podcast, Wealth Building by Nightingale.  The podcast was only 6 minutes long (as are the majority of their podcasts), but Scott talked enough to pique my interest, so I will research him more and see if he has any podcasts or other available resources to help me become wealthy.

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