Comments on: The Millionaire Next Door: On Spending

By: lilo's mom

lilo's mom — Wed, 24 Jan 2007 14:25:01 +0000

I’m not sure that the book has a bias against youth…it’s just that the vast majority of millionares (and therefore the people they interviewed) are well over 35!

Also…at the time these folks went to school (if they did…many are not college graduates), student loans were not as prevalent as they are today.

I really believe students should find other ways to make it through school so they don’t start their lives in significant debt…our kids have worked to ensure they had the grades necessary for scholarships, then chose schools that were within their means (studies are now showing that prestigious colleges don’t equate with increased salaries over a life time).

I LOVE this series! Keep it up.

By: Lazy Man and Money

Lazy Man and Money — Thu, 09 Nov 2006 19:29:24 +0000

I had the same problem with the math. Even at 30 it didn't work for me, though I'm generally ahead of my peers according to other metrics.

By: HC

HC — Tue, 07 Nov 2006 19:03:30 +0000

A coworker loaned me the book, and I found some chapters really intriguing (especially the car buying one).

I appreciate you taking on the sampling bias, though, because that was one of my major issues with the book.

I’d go much further, though: A self-selected sample who was motivated by financial compensation is not going to be representative of all millionaires in MOST meaningful ways.

As a marketing guide, this is a pretty decent text. As a sociological analysis, it’s thin in a lot of places.