Stop Acting Rich: ...And Start Living Like A Real Millionaire | Date: 28 April 2011, 05:48
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Stop Acting Rich: ...And Start Living Like A Real Millionaire
By Thomas J. Stanley
* Publisher: Wiley
* Number Of Pages: 274
* Publication Date: 2009-09-28
* ISBN-10 / ASIN: 0470482559
* ISBN-13 / EAN: 9780470482551
Product Description:
A leading expert on the affluent reveals the real way to build wealth
With well over two million of his books sold, and huge praise from many media outlets, Dr. Thomas J. Stanley is a recognized and highly respected authority on the wealthy, their behavior, and their thinking. Now, in Stop Acting Rich, he details how the less affluent have fallen into the elite luxury brand trap that keeps them from truly acquiring wealth and details how to get out of it by emulating the working rich as opposed to the super elite.
A defensive strategy for tough times, Stop Acting Rich will show you how to live like Warren Buffett-a rich, happy life-through accumulating more wealth and using it to achieve the type of financial freedom that will create true happiness and fulfillment.
* Puts wealth in perspective and shows you how to live rich without spending more
* Details why we spend lavishly and how to stop this destructive cycle
* Discusses how being "rich" means more than just big houses and luxury cars
* Other titles by Stanley: The Millionaire Mind and The Millionaire Next Door
It's time to understand why we buy what we buy, so that we can start accumulating, rather than depleting, wealth. Stop Acting Rich shows you exactly what it takes to achieve this elusive goal.
Summary: stop acting rich
Rating: 5
Excellent tells it like it is. Should be required reading in all Colleges Freshman classes, oops I mean High School Classes.
Summary: Great message but too repetitive
Rating: 3
I looked forwarding to reading "Stop Acting Rich" but I found it to be too repetitive. Although the book is 200+ pages, I felt as though the first chapter covered the ultimate message and the remainder of the book only served to reiterate the concepts without significantly furthering them. Sure, some examples and data in later chapters further reinforced the message but one could easily get the message within the first few pages, skip the rest of the book, and still understand the point that less consumption, decreased spending, and more frugal living is more likely to help you gain wealth than buying fancy cars, expensive clothes, and enormous homes. I liked the book but couldn't help to feel a bit short-changed when I found the chapters to be so repetitive.
Summary: Stop Acting Rich: The Paradox Of This Book
Rating: 4
I'm a big plan of Tom Stanley's research and books. I first encountered Stanley at a trust conference many years ago, and I've read and recommended his books to dozens of clients and prospects. His insights are helpful and entertaining.
His newest book, Stop Acting Rich: And Start Living Like A Real Millionaire, reveals the differences between what we say and what we do. He chronicles the spending patterns of genuinely rich people, and the lifestyles they enjoy. It's interesting, because there are two groups of people with serious money: the glittering rich (think Donald Trump or Bill Gates) and the millionaires next door. And, as you'd guess, they consume differently.
Spending by the glittering rich, well, glitters. These are the few folks with so much money that spending really doesn't matter. They own multiple cars, multiple timepieces, and they tend to entertain lavishly. We all know who they are and they set a remarkable standard for living.
Other rich people are remarkable for differing reasons. As Stanley has recorded previously, they stand out for their modesty and good sense. These millionaires drive Toyotas, wear Seiko watches, and surround themselves with value-oriented merchandise. We know who these neighbors are, too, but we probably don't realize how financially successful they truly are. They set a different kind of standard.
Here's the paradox of this book. Almost everyone else (and that's a huge chunk of our society) dwells in yet another culture. This is the culture of false wealth. Where looking rich is more important than being rich. It's the world of luxury goods sold to high-income buyers. But, sadly, that spending pattern yields no genuine wealth. The simple act of buying those goods, by itself, is financially counterproductive.
These are residents of mini-mansion neighborhoods. And owners of luxury automobiles and Rolex watches. They send their children to private schools and belong to expensive country clubs. They buy Brooks Brothers suits and shop at exclusive department stores. They are glittering rich wannabes, and they spend most of their income on a prestige lifestyle. There's nothing left for saving.
The depressing truth is this book won't change much. Most of us would rather look rich than be rich. We like those luxury goods and that luxury lifestyle, even if we can't afford them. We can see how sensible living might bring stability and success. We know Tom's right, but we don't want to live in sensible neighborhoods or drive sensible cars or wear sensible clothes.
That's the paradox of Stop Acting Rich. We don't want to.
Summary: A lot of old material
Rating: 2
This book hammers home points made in the earlier Millionaire Next Door and Millionaire Mind; it is not bad per se, but is largely a reworking of the "big hat, no cattle" theme found in his earlier books.
Summary: Good read
Rating: 4
I must admit that I was quite intrigued by this title - I wasn't really aware that some people were "acting rich" and I could not really understand what the difference was.
In Stop Acting Rich, author Stanley takes an extremely interesting look at so-called "rich" and the many, many differences that exist between people who are truly millionaires and those who just want to look like they are.
I guess I was a little naive before reading this book and I have to say that the author does a great job of showing the difference between the two very distinct mentalities. I was quite surprised at some of the statistiques quoted in the book - especially about housing and how millionaires view their homes and their new worth.
Very educational and quite fascinating.
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