Comments on: The Millionaire Next Door: Overview

By: ward ripley

ward ripley — Tue, 26 Aug 2008 16:43:00 +0000

trying to search other books, besides The Millionaire Next Door. Master your money, The Total Money Makeover, Die Broke, How Come That Idiot’s Rich and I’m Not

By: Phillip

Phillip — Tue, 23 Jan 2007 18:08:47 +0000

“I haven’t read the book and I probably never will but someone did give me a copy of a workbook that is part of the book. I think some of the advice is questionable. One example is the “Latte Factor” where Bach says that over a 10 year period, drinking a latte a day will cost you $12,000. Of course, he advocates skipping the latte.”

You are thinking of a completely different book – “The Automatic Millionaire” by David Bach. This is “The Millionaire Next Door.” They do not talk about the latte factor in this book.

By: Lazy Man and Money

Lazy Man and Money — Mon, 06 Nov 2006 18:56:07 +0000

Buying the stock may not be a bad idea, but how much of each latte goes back in your pocket? It’s a very minor fraction of a penny each time. Of the $12,000 you’ll save (if the math is right), perhaps you’d make back a cent (if that) from your own latte purchase. From an investment point of view, that’s quite a loss.

If everyone stops buying Starbucks coffee then they’ll have money to spend elsewhere and those 115,000 people will find other jobs in those areas. After all, the world did exist before Starbucks. However, it’s worth noting that not everyone will stop buying Starbucks coffee, so there’s not a danger here.

By: Rich Slick

Rich Slick — Mon, 06 Nov 2006 15:33:34 +0000

I haven’t read the book and I probably never will but someone did give me a copy of a workbook that is part of the book. I think some of the advice is questionable. One example is the “Latte Factor” where Bach says that over a 10 year period, drinking a latte a day will cost you $12,000. Of course, he advocates skipping the latte.

I offer different advice. BUY THE LATTE and BUY Starbucks stock. You’ll be “paying” yourself along the way to enjoying a great drink.

Keep in mind that if everyone stops buying Starbucks then the 115,000 people that work there will become unemployed. Who wants to see that happen?
http://finance.yahoo.com/q/pr?s=SBUX