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Stop Acting Rich: ...And Start Living Like A Real Millionaire
     

Stop Acting Rich: ...And Start Living Like A Real Millionaire

3.8 26
by Thomas J. Stanley
 

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With the financial crisis, high unemployment, and tight credit, you may be saying to yourself: who is acting rich these days? We're barely making ends meet.

You would think that our wastrel ways are over, we're erasing debt, and stocking up on savings. The reality is that not only are we spenders who barely understand the concept of frugality, we are big

Overview

With the financial crisis, high unemployment, and tight credit, you may be saying to yourself: who is acting rich these days? We're barely making ends meet.

You would think that our wastrel ways are over, we're erasing debt, and stocking up on savings. The reality is that not only are we spenders who barely understand the concept of frugality, we are big spenders on expensive elite brands, and we do it in an attempt to emulate the rich people we see on television, in magazines, and down the street. The recession may have caused us to take a breather, but every indication is that we will pick up right where we left off when gentler economic winds blow again.

Before you spend another dime, read this book and understand how to become rich instead of act rich. Stop Acting Rich . . . And Start Living Like a Real Millionaire will upend every assumption you have about wealthy people: where they shop, what they buy, and most shockingly, where they live (it's not where you think).

Did you know that three times more millionaires live in homes valued at under $300,000 than over $1 million? Would it stun you to learn that more millionaires drive Toyotas than BMWs? How about a second home? Not for the millionaire.

Bestselling author of The Millionaire Next Door and The Millionaire Mind and leading authority on the wealthy, Dr. Thomas Stanley uncovers the truth about spending to show you how you can really live rich.

It all starts with where you live. Live in a prestige neighborhood and you will spend more on everything from your car to your watch. Real millionaires understand that living in communities where their neighbors have less net worth than they do naturally leads to spending less. It's easier to be rich when keeping up with the Joneses hardly costs anything.

Dr. Stanley's research also uncovers what makes rich people happy. Life satisfaction comes not from cruising down the highway in a chunk of your net worth, but from having the financial resources to choose—to spend time with family and friends, to volunteer, to pursue interests.

Stop Acting Rich . . . And Start Living Like a Real Millionaire rips the lid off just about every assumption we have about what rich looks like. Few people become rich by way of a high income, and even fewer high-income people are truly rich. The good news is that almost anyone can become wealthy—even without a super high income—if you would just stop acting . . . and instead start living like a rich person.

Editorial Reviews

From the Publisher
"Now Millionaire co-author Thomas Stanley is back with a dose of financial tough love for high-spending wannabes in Stop Acting Rich … and Start Living Like a Real Millionaire." (Better Investing Magazine, January 3, 2010)

"This is all fascinating stuff and Stanley presents it in a very readable style. Stanley has written two other best-sellers on millionaires. It seems he's done it again." (The Star-Ledger, January 3, 2010)

"…not only is this a book that everyone should buy, it's a book that every parent who loves his or her kids should buy for them—and bribe them to read it." (WalletPop, October 7, 2009)

"Contains some surprising data that makes for a convincing argument supporting a simple lifestyle as a path to security." (Associated Press)

"After reading through Stanley’s engaging anecdotes about how the other America actually lives, you may come to feel that perhaps you don’t need to impress the other guy so much. This in itself is no small thing. Your wallet will thank you. And you may end up happier." (Smartmoney.com)

"Thomas Stanley has written a fascinating book that is based on years of research into how the truly wealthy live. Stanley’s main contention is that those with millions aren’t among the nation’s hyper consumers. Rather it’s the "aspirationals," those seeking recognition as members of the moneyed set, who are loose with a buck. It’s a hypothesis offered often, but the difference is Stanley’s research. He has packed his book with oodles of statistics — and not just the usual numbers. For example, 75 percent of millionaires pay $19.79 or less for a bottle of wine. When it comes to a dinner, 75 percent pay $24.53 or less and 95 percent keep the tab to less than $40. This is all fascinating stuff and Stanley presents it in a very readable style. Stanley has written two other best-sellers on millionaires. It seems he’s done it again." (The Star-Ledger)

"If you’ve read the 1996 best-seller The Millionaire Next Door, you already know it’s hard to identify the truly affluent based on appearance. . . Now Millionaire co-author. . .Stanely is back with a dose of financial tough love for high-spending wannabes. . . offers surprising insight. If your goal is long-lasting wealth and not just the appearance of affluence, start reading ASAP." (BetterInvesting magazine)

“Stanley is right in advising people to have a re-look at their spendthrift ways and to avoid getting trapped by symbolism. “If you spend in anticipation of becoming rich, you are unlikely to become truly wealthy,” he quips.”(Personal Finance Magazine Moneylife)

"Stanley's research does a great job of proving there's a big difference between income and net worth. Many pretenders have become very good at generating income and enjoying a high standard of living. But take this Stanley gem to the bank: ‘Those who are among the least productive in transforming their incomes into wealth are in the higher-status occupations.’ Don't be a great pretender, pretending you're doing well when you only look the part. Read this book and find out how to emulate real-deal millionaires." (The Washington Post, Michelle Singletary)

Product Details

ISBN-13:
9780470482551
Publisher:
Wiley
Publication date:
09/28/2009
Pages:
274
Sales rank:
977,058
Product dimensions:
6.10(w) x 9.10(h) x 1.10(d)

Meet the Author

Thomas J. Stanley is the bestselling author of The Millionaire Mind and The Millionaire Next Door, which have sold more than 3 million copies worldwide. A recognized authority on the lifestyles and behaviors of the affluent,Dr. Stanley is frequently quoted in the Wall Street Journal, New York Times, Forbes, and other major publications. He has appeared numerous times on the Today show, 20/20,and Oprah. Visit Dr. Stanley at www.thomasjstanley.com.

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Stop Acting Rich 3.8 out of 5 based on 0 ratings. 26 reviews.
Anonymous More than 1 year ago
First the negative. This book has too many redundant examples to support his theories and these examples are littered haphazardly throughout the book in an unorganized and excessive fashion. He does a great job supporting these theories with solid initial examples which by themselves sufficed to prove his points. He jokes about this redundancy in the book, to his credit. Second negative. Based on the redundancy mentioned above, this work could have been shorter, perhaps by 50%. A shorter version would have made the work stronger in my opinion. Third negative. If you have read his Millionaire Next Door, Dr Stanley reuses many of the same concepts, and brings little new insight here. Positives: The author seems to be harboring a chip on his shoulder about the some of the cohorts he writes about in the book. He writes quite venomously about wine collectors, as if he had one or two in his mind that seemed to get under his skin, and uses this book as a forum to rip into them. Maybe deservedly so. Very entertaining stuff. More positives: I like Dr. Stanley. Very entertaining. A few new insights on the wealthy, that he hadnt written about in the Millionaire Next Door, that made the price of the book worth it to me. I have been recommending the this book to everyone, because it has substance, as a read that comes AFTER his Millionaire Next Door.
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risuena More than 1 year ago
So similiar to The Millionaire Next Door, 3 1/2 stars. I would have given this 4 stars, but if you've read his other book, like what other reviewers thought, it rehashed same things but not quite as good. It got to be a little boring with very little new material. What it is good for is a reminder to look towards a more secure financial situation; that can be obtained with various habits, hard work, and discipline, not to mention the courage to go against the crowd. It gives what's worked for people and what have been others' mistakes. It's a good book to start you off thinking about financial independence, what's important in life, and your happiness. I agree with another review that this should be read after The Millionaire Next Door.
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carbs_reader More than 1 year ago
Though I agree that the author rehashes some of his previous material, I found the book interesting and helpful. Before reading this book, I would get "The Millionaire Next Door" and read it first. That plus this book will give you some great insights into why we buy what we buy and how to save for the future. In a time when people want a guick fix to their financial situation, Thomas Stanley helps people understand that quick fixes aren't available, but that a fully thought out plan is the way to go. You will not be wasting your money or time when you get this book.