Read honest and unbiased product reviews from our users. However, it has updated numbers and includes insights gained from the financial crises of 2008-2009. It's the ultimate freedom that allows you to live your life to the fullest. Financial Literacy Book Review: The book gives a clear and simple message to its readers that “lasting wealth and happiness is rarely found through buying expensive things. I have multiple books lined up to read, but when I get to this one I'll make sure to come back here to purchase. Simply stated, your net worth [augmented] should equal 10 percent of your age times your annual realized household income (0.10 x age x income = expected net worth). Save some money and time by not getting it, and if you are into Thomas Stanley’s books go for The Milionaire Next Door. I will share my stats since I am a IT professional myself and I like numbers. What constitutes true wealth? Stop Acting Rich Review – What Determines Wealth? So there is stil much to be done.. :d. Hi Kayla. This book (Stop Acting Rich...) covers similar themes as the book I previously mentioned. Nothing earth shattering but a great read no less. Most folks have the chance of becoming wealthy by great defense. As soon as I got my first job, I started 401K and IRA and continued stock investments. This book had a profound effect on me at the time and I eagerly digested the follow-on book The Millionaire Mind when it came out. We analyze and compare tools to help you make the best decisions for your personal financial situation. When one of my brothers read that book he told me that the saddest thing about reading the book was that he had to learn to be a cheapskate like me. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. You can trust the integrity of our balanced, independent financial advice. He currently resides in Long Island, New York, with his wife and three children. Frankly, I find it to be annoying. Unlike too many financial guides with their special formulas on getting rich, Dr. Stanley’s book shows HOW others have already done it. Even so, it's a quick read, and I enjoyed it. If your actual net worth is above this expected figure, I consider you're affluent, given your age and income characteristics. That thing you bought today might bring joy to you today, but habitual saving will bring you much more. I've always been interested in the psychological aspect of things in life: Why do people want to become wealthy? Stop Acting Rich Book Review Back when I was in college a department head gave me a copy of The Millionaire Next Door as a thank-you gift for a project I helped with. Reviewed in the United States on September 2, 2018. For more information, please read our. Larry Ludwig was the founder and editor in chief of Investor Junkie. The information on Investor Junkie could be different from what you find when visiting a third-party website. In this book, Stanley breaks down wealthy people into three types: From reading Stanley's previous work, I just know that one of our neighbors fits perfectly into the Income Affluent (IA) category — they lease their BMW, are constantly doing construction on their house and dress in the best clothes. However, the director fails to develop the story. I live only a half-mile away from one of the most frequented malls in the country. They say you should surround yourself with positive people to get a positive mindset. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. I gonna write the next post about how much to save. Don't be too hard on yourself. 1) Under my parents pressure, I had to go to Ivy league school and I HAD to have a grad school degree. So we are still running short. 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