Book Review: The Millionaire Next Door

I was unimpressed with this book.  It's main point is just because you make a lot of money doesn't mean you are rich.  Those who invest in assets rather than save are more wealthy.  Being frugal is a huge part of becoming a millionaire.  Status symbols like expensive cars and nice houses will only make you spend more and save less.  People tend to spend more the more they make.  Teach your children about money, but don't tell them how much you have.  Children of wealthy parents tend to not be as frugal as their parents and then require help throughout their lives.  Don't live your life with a paycheck as your only source of income.  All in all not very helpful and if a solution isn't offered other than be frugal then I don't think too many people will see a benefit from this.      

Also the book doesn't focus on how to really make a million or how someone who makes 40k a year can make a million.

There are better books out there like Rich Dad Poor Dad if you want better theories and for personal finance Suze Orman Young Fabulous and Broke.