The Millionaire Mind Review – Will It Make You Into a Millionaire?
December 26, 2013
In this The Millionaire Mind review, I review The Millionaire Mind and tell you what I think about it. Whether it’s bad or not – we’ll see.
According to Amazon, the book have spent over four months on the New York TImes best-sellers list. Hmm…that must be good right?
Do you want to be a millionaire?
I think most humans are materialistic including yours truly. I want to be a millionaire because I want to make money work for me and not the other way around.
One thing about me is that I’m rebellious. I don’t like people forcing me to do anything unless there is a clear and acceptable reason for me to do it. I bought the Millionaire Mind with hopes that I can be freed from money’s slavery…imagine the freedom and satisfaction.
The Millionaire Mind was written by Thomas J. Stanley who is a business theorist and the author of another best-selling book called The Millionaire Next Door. After I read The Millionaire Mind, I got exactly what I wanted – the knowledge of what millionaires’ think…sort of.
What made the content of the book compelling was the way Stanley discovered how millionaires’ think – questionnaires. From the results of the questionnaires, which was completed by 1001 people in which 733 of them were millionaires, he derived his own conclusions on how millionaires think.
Let me share with you some of it:
- Millionaires are honest.
- Millionaires are disciplines.
- Millionaires have good social skills.
- Millionaires pick supportive spouses.
- Millionaires work hard.
- Millionaires aren’t necessarily smart. Most of them aren’t.
- Millionaires don’t live luxuriously.
- Millionaires pick their houses carefully.
- Millionaires don’t pick lotteries.
- Millionaires know how to find opportunities.
- Millionaires are frugal.
They were a lot of characteristics of millionaires written in the book and they were supported by the result of the questionnaires and anecdotes.
One thing that you should note was that the characteristics were not universal because it was written in the introduction of the book that the questionnaires were sent to AMERICAN millionaires only. The book should have been titled The American Millionaire Mind because they are people who would gladly criticize this book because of the misleading title.
But, I think that whether you are an American or not, the characteristics of millionaires in the book is a good start for anyone to start their journey to become a millionaire.
Note: I’m still not a millionaire after reading the book.
Questions you might be asking about The Millionaire Mind
Will this book make me into a millionaire?
Nope. No book can do that,
The only thing that can make you into a millionaire is you. So, instead of buying this book or any book for that matter, stop thinking that the book can make you into a millionaire.
Instead, buy any millionaire related book as a guideline for you to take that first step to millionairehood.
Is it practical? Is there any step-by-step methods and exercises?
Nope. There’s none.
Stanley gave his conclusion on what makes a millionaire and it is up to you to do what you can with that information.
If you prefer a practical book, stay away from this book but if you prefer a book that is full of anecdotes that is inspirational and can hopefully push you to do something about your life, then this is the book for you.
Are there any investment tips?
Yes but most of them are general ones and might be outdated because the book was written in the year 2000.
Are there any money making tips?
Yes – choose your vocation and niche well. That’s it.
What do you like about it?
I like the anecdotes and the take-away message on the importance of integrity, honesty, social skills, and other virtues that makes a human ‘good’.
There are tons of stories about millionaires and some of them are inspiring.
The best thing I have learnt after reading this book is that it is true that if you want to be successful you need to work hard.
Millionaires acknowledge the need for luck in order to succeed but they said that the harder you work, the luckier you become. I can see the logic in this because if you work hard and never giving up, there will be a time when everything is right: the right time, the right place, and the right idea.
What do you hate about it?
When I first read this book, I didn’t think that there’s anything I disliked about it.
But after rereading it, I have a problem with how Stanley addresses the issue of ‘beautiful people’. The ‘beautiful people’ according to Stanley are those who have good grades, good looks, and good jobs. But his main ‘hatred’ seems to be of those who have good grades.
I can see that the way he concludes his findings from the questionnaires seems to go along the line of ‘non-smart people will fare better in life than those who are smart’. It is as if it is a curse to be smart.
Another thing is the length of the book. It is too long considering the substance of the book. I realized that you can know the characteristics of millionaires just by reading the introduction, first chapter, conclusion, and skip the rest because the contents are repetitive.
Do you recommend The Millionaire Mind?
Not that much.
For my specific recommendations:-
I recommend The Millionaire Mind if…
- You want to know how the millionaires in America think such as their spending habits, work ethics, choice of vocation, choice of spouse, and investment methods.
- You want to start improving yourself and develop the characters and habits of millionaires.
I do not recommend The Millionaire Mind if…
- You want detailed investment tips and money making ideas.
- You prefer to read a practical book that has exercises, plans, or step-by-step methods provided by the author.
Thanks for reading this The Millionaire Mind review
Whether you want to buy the book or not – please don’t think that being a millionaire is as easy as buying a book or attending any courses. To be rich, you need to work hard.
Thank you for reading this. To complement this review, check out my The Millionaire Mind summary as it contains my method of applying what I have learnt it .
If you are interested, you can buy The Millionaire Mind from Amazon.
If you can’t purchase from Amazon, you can buy it from Book Depository which provides free shipping worldwide. Just click the purple button below.
Be sure to check my affiliate disclaimer before you purchase anything due to clicking through the links in this post. I like to keep myself transparent on what I am doing so no secrets here.
A question for you: Do you have any questions that haven’t been answered by my The Millionaire Mind review?