Comments on: The Millionaire Next Door (Book Review) http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html a little about life, and the news and events which make it memorable Mon, 05 Jul 2010 16:30:32 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Dustin http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html/comment-page-1#comment-2257 Dustin Thu, 26 Jul 2007 00:30:27 +0000 http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html#comment-2257 New cars can be a good investment (safer, better amenities, lower maintenance costs, etc). This book is not trying to make that point. Those who typically purchase new cars are doing so year after year - every year a new, brand new car. Over time this is what makes news cars not a good investment. On the other hand, those who reach millionaire status typically purchase slightly used cars every four to six years. New cars can be a good investment (safer, better amenities, lower maintenance costs, etc). This book is not trying to make that point. Those who typically purchase new cars are doing so year after year – every year a new, brand new car. Over time this is what makes news cars not a good investment. On the other hand, those who reach millionaire status typically purchase slightly used cars every four to six years.

]]> By: James http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html/comment-page-1#comment-2251 James Wed, 25 Jul 2007 16:51:19 +0000 http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html#comment-2251 Despite that instant 10% drop in value when you drive a car off the lot, a new car can be a good investment, but you've generally got to hold onto it at least until the warranty is up to get your money's worth out of it. A new car every two years isn't exactly frugal living. Of course, the way some cars are getting overfeatured these days (refrigerated, light-up cupholders anyone?), you may also just be buying a lot of fluff, much of which is bound to break long before the car dies. Anecdote related on the theme: One of the big donors to our senior design project was a UP alum who has donated 6 or 7 digits to the school. He drove up to our thank you lunch in a circa 1990 Geo Metro. Despite that instant 10% drop in value when you drive a car off the lot, a new car can be a good investment, but you’ve generally got to hold onto it at least until the warranty is up to get your money’s worth out of it. A new car every two years isn’t exactly frugal living.

Of course, the way some cars are getting overfeatured these days (refrigerated, light-up cupholders anyone?), you may also just be buying a lot of fluff, much of which is bound to break long before the car dies.

Anecdote related on the theme: One of the big donors to our senior design project was a UP alum who has donated 6 or 7 digits to the school. He drove up to our thank you lunch in a circa 1990 Geo Metro.

]]> By: Jeff http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html/comment-page-1#comment-2248 Jeff Wed, 25 Jul 2007 14:58:44 +0000 http://www.digmann.com/2007/07/25/the-millionaire-next-door-book-review.html#comment-2248 It is very random that we would read the same book at the same time. I am about half way through this book. The emphasis of the book (or at least that first half) is on the frugal living of most millionaires. Buying used cars instead of new. Not buying the most expensive clothes. Stuff like that. Good book. It is very random that we would read the same book at the same time. I am about half way through this book.

The emphasis of the book (or at least that first half) is on the frugal living of most millionaires. Buying used cars instead of new. Not buying the most expensive clothes. Stuff like that.

Good book.

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