"The Millionaire Mind", by Thomas J. Stanley - Book Review

" The Millionaire Mind" is a desperately needed wake-up call to modern Americans and consumers in developed countries around the world. In this book, author Thomas Stanley shares the results of his extensive research project on the lives of American millionaires, shattering popular beliefs and myths about the lives, homes, work and leisure of the most wealthy people in the country. Stanley proves that most millionaires are more frugal than the average middle-class family, and that their frugal lifestyle contributes greatly to their life-long wealth.

Change Your Thinking

In "The Millionaire Mind", Stanley differentiates between what he calls "Income-Statement Affluent" individuals and "Balance-Sheet Affluent" individuals. Income-statement affluent people bring in a load of money, and spend just as much, if not more. Balance-sheet affluent individuals have high net worths, and their income greatly exceeds their expenses.

Stanley exposes how raw IQ and college test scores have very little to do with overall economic success. He also discusses the success factors that millionaires rate as most important to building wealth. "The Millionaire Mind" explores how the choice of spouse plays a large role in creating life-long wealth, as does choosing the ideal vocation. This book is filled with surprises at every page, revealing how, with slight changes in behavior and habits, any reader can boost their level of wealth for life.

" The Millionaire Mind" can break habits, tendencies and misconceptions, created by societal and media influence, and can lift readers out of a cycle of debt and financial struggle.

Statistical Research

Most of "The Millionaire Mind" consists of clear, well-written narrative. Since the book was based on the author's extensive, statistical research project, Thomas Stanley frequently shares his statistical data in the form of easy-to-read charts and tables. The data presentations create welcome breaks in the momentum of the narrative, and allow readers to slow down, analyzing and absorbing the truths behind the data.