December 28, 2013

This book should be called 'Millionaire Mindset'

The Millionaire Map: Your Ultimate Guide to Creating, Enjoying, and Sharing WealthThe Millionaire Map: Your Ultimate Guide to Creating, Enjoying, and Sharing Wealth by Jim Stovall

My rating: 4 of 5 stars

The thing I appreciate most about this book is that the author early on emphasizes that "millionaire" means different things to different people. For some it literally means a net worth of a million dollars. For others it means not having to worry about money. Stovall allows you to pick your own definition.

The premise of this book is that it will help you devise a "map" that will lead you to a destination of financial contentment, but really it's more like an outline of principles than a step-by-step set of directions. It's more like Google Earth than Google Maps.

The advice is sound, but if you've read more than a few financial planning books, it will all sound hauntingly familiar. Understand your income. Control your spending. Invest prudently.

This is a good book. There's just not a lot in it to separate it from other good financial planning and investment books. The prose is flabby in places, with lots of repetition, and the author spends a lot of time talking about himself.

Still, the overall takeaway is that becoming a millionaire is more about your mindset and your relationship with money than it is about what you do for a living or where you invest. If you're looking to develop that mindset—a healthy relationship with money instead of a codependent one—then this book is for you.

I received a free copy of this book from Story Cartel for review purposes.

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