Book Review: The Millionaire Next Door

The Millionaire Next Door,
by Thomas J Stanley & William D Danko

I read this book over the summer for two reasons.

1. It was recommended by a fellow mission director to understand some of our wealthier donors.

2. I wanted to start investing some money and was looking for some ideas. When Ken and I first moved to Regina, we had about $30,000 in RSP's and some from the sale of our house. We used it to finance the Mission and ourselves for the first year or so.

We didn't mind. And I don't mention it as a bragging point, but as a significant part of our Mission's history and heritage. I believe giving inspires giving. So many people are out there wanting a "job" at the Rescue Mission. We are looking for more than employees. We are looking for "workers."

Then said he to his disciples, The harvest truly is plenteous, but the workers are few; Pray therefore the Lord of the harvest, that he will send forth workers into his harvest. -Matthew 9:37&38

At any rate, time to build up some savings again. Last time we thought we were saving for a house, but we ended up buying one as Ken's was diagnosed with Crohn's Disease and we needed some space away from the Mission. God obviously had other plans for that money. Now we thinking we're saving for retirement. We'll see!

So, as for the actual book review, if you Google "The Millionaire Next Door" you will learn more about the book than I can ever tell you here. It turns out everyone is talking about this book! Ha!

What it boils down to is discipline and hard work. As it turns out, what we put our mind and effort toward, is what we get. Oh, wait. I've heard this before.

Whatever a man sows, that will he also reap. -Galatians 6:7b

Tips of the Trade:
*Your spouse must be involved and just as committed--millionaire wives look after the family finances.
*Don't be showy--no fancy cars, houses or watches are owned by millionaires.
*Don't spend on frivolous items--different book, but same concept as "The Latte Factor."
*Don't blow your money on your kids--particularly as adults.
*Value education--even though you may not have any yourself!

The book bases these and more on much research, and so, in some places, reads like a textbook, breaking down millionaire facts into demographics of nationality and even by state. Also by the cars they drive and watches they wear.

I enjoyed it because it made me realize that most people have a relatively low "net worth" because they don't want to work hard at work, and then work hard at home. Anything that tells me the reward comes with discipline and determination causes me to be excited about spiritual and heavenly rewards as I invest my life in Souls Harbour RESCUE Mission.