And Start Living Like a Real Millionaire - Stop Acting Rich

I had to purchase this book again, because my daughter liked it so well she wanted to keep my first copy. A great book that reinforces what most of us know. If you are the type that understands real millionaire behavior, you will enjoy this read, although you may not learn much new, it is fun to read for reinforcement of lots of good info that will make you feel good about your own practical, frugal, intelligent, spending habits.

Dr. Stanley did his usual excellent job with this book. It is easy to read and understand and is not overburdened with statistical data. It provides just enough information to offer validity to his analysis.

Very interesting. As someone who first became a millionaire in my mid 30s the old fashioned way (no windfalls, just a strong income which I have religiously saved 25% per year and invested in mainly mutual funds), I love Stanley's work. Good read and book shelf book.

I have read a number of other Thomas Stanley books. Even heard him speak at a conference once. Very intriguing and compelling points and statistics - in his books and speeches. For this book though, he spends an excessive amount of narrative talking about vodka, wine and spirits, but really excessive amounts of time on vodka. The point he tries to make gets made in two pages but he writes on and on for dozens and dozens more about it. Millionaire Next Door was his best work. Everything else since has been less in comparison. Unfortunately, this is the worst when it really has the best premise and title. Compared to Millionaire Next Door, Stop Acting Rich is just the be-labored droning to stretch a book to 200 pages.

interesting and insightful read..I enjoyed reading about the mind set of folks who are wealthy as well as those who act wealthy...The info will help us to keep what assets we have. It has reinforced what I have believed since I was a young adult...you can never tell what people have.

I read Thomas Stanley's The Millionaire Next Door three years ago and was thoroughly impressed by the insights and research. While reading it I wished the author had published a revised edition with updated numbers - the book was published in 1998. This book (Stop Acting Rich...) covers similar themes as the book I previously mentioned. However, it has updated numbers and includes insights gained from the financial crises of 2008-2009.
The central theme of this book is that there is a difference between those that are genuinely rich and those that act like they are rich. This book details the differences between these two groups of people - what they wear, drive, eat, drink, etc. These differences, presented throughout the book in the form of several tables and lists, are backed by empirical data that are drawn from the author's extensive research on the affluent.
We live in a culture of hyperconsumerism. It is far easier to act rich than to become truly rich. All we have to do is to buy the luxury goods/services that we think the rich buy and we get the feeling that we are rich. But this kind of excessive consumerism is detrimental to our net worth. The author explains that most rich people become wealthy and stay that way by being frugal and by being investment oriented as opposed to consumption oriented. As for wealth and happiness he warns, "those who think that acting rich must be predicated on hyperconsumerism are likely to end up on the short side of both the wealth and happiness scales".
Throughout the book many myths about the rich are dispelled. Their consumption habits are described and compared with those of the pretenders. What brands of shoes, suits, watches, etc do they wear? What wines and spirits do they consume? What motor vehicles do they drive? Where do they shop? And how much do they pay for the goods listed above? The insights are illuminating and thought provoking.
During the financial crisis of 2008-2009, many articles were published regarding the benefits of frugality and the dangers of excessive consumption. In many ways the root of this crisis (sometimes referred to as the Credit Crisis) was excessive borrowing and consumption. I share the author's belief that as soon as the economy improves, people will resume their spendthrift ways. This is most unfortunate since it could lead to a repeat of the crisis we just experienced.
Bottom line - I highly recommend this book as the single best personal finance book I have read. You cannot save the whole of society from this disease of hyperconsumerism. But by educating yourself, you can simplify your lifestyle so that you can be truly rich as opposed to just acting like you are rich.

I respect the time, effort, consideration and purpose behind the book Stop Acting Rich. The empirical data collected mired with charts, statistics and affluent spending characteristics is duly impressive. Understanding how people's spending habits are correlated to their own sense of self-worth and general happiness is interesting if not slightly troubling. The stories of anonymous people "Mr T., Mr. N, or Mr M" portraying a variety of roles exhibits great depth of awareness into the mindset of both the truly rich and those pretenders who simply live with a shiny facade of adornment. Overall, the book is a bit repetitive in nature and story line.

Ok, Dr. Stanley, we get it.
If you don't make $10M, don't shop at Exotic Cars 4 You, nor own a custom suit, nor a Rolex, nor a second home, and certainly not a BMW.
If you aren't truly rich, don't indulge in any pleasures of the vast affluent, simply to enjoy life and perhaps feed an interest, desire or hobby.
If you remain meek, save your pennies and shop at Wal-Mart and of course, drive a Prius, you will be able to outfit your retirement villa condo with the fanciest
bamboo floors and plush terry cloth towels, AARP has ever seen.

Bottom-line is this. While this writing is entertaining for its intrinsic value of revealing the soft-underbelly of how wealth is conserved and even maintained, it makes far too many dangerous assumptions about people who are high earners (i.e. - buying a used German sports car is the same as living beyond your means and opens the floodgates to Epicurean living) - I am an engineer and weekend private pilot. I don't own my own aircraft, but I truly enjoy flying. It doesn't make me Howard Hughes. I also drive a used, 10-year old German sports car that cost less than a Honda Accord because I love the way they perform, not because I want to impress my neighbors or shop at Brooks Brothers or Nordstrom's. I also glance down my wrist and have a Jawbone UP pedometer and nary a wristwatch, much less a Rolex.

Stop Acting Rich? I am not acting rich.

Assumptions are the key herein. Far too many unrealistic and inaccurate lifestyle and motivational assumptions are being made within the covers of this very restrictive and narrow minded diatribe. While his revelations may showcase a percentage of millionaires and their spending inclinations, as well as those foolish enough to live beyond their means to captivate their friends, I view these decisions to be more of an ego-driven psychological problem than an accounting issue.

People know what is right, but just like children they will push the limits of indulgence to appease their egos, their efforts and their desires.
Life is about living, not just saving. Sometimes you just have to have fun, to counteract the stress and the sacrifice of being a top-earner.
So, change lanes and stomp the gas pedal on a sunny afternoon with the top down. It may not make you rich, but I guarantee you will be smiling.
If that completes you, even as trivial and selfish as these stereotypical chapters in this book make you feel, just keep smiling.

Stop Being Stupid, much better title. Much simpler message.

Arrived quickly and in perfect condition. My husband just read read through the first few pages and enjoys it already. He is not a reader. Financial books however are a big interest of his. This author has captured his attention.

This book separates the millionaires from the posers! It shows that you can have a high income and still be broke. It teaches you how to stop trying to impress others with name brands and start living a fulfilled life. Great read!

Dr Stanley's books dispel many of the myths commonly held about millionaires. I read "The Millionaire Next Door" shortly after it came out. Back then I entered my data into his "Wealth Equation" and was disappointed to find that I was "behind" in terms of wealth accumulation. Subsequently I stepped up my savings and it has paid off. Following his advice enabled me to completely retire at the age of 54 on a relatively modest military doctor's salary. As he points out there is a big difference between high income and high net worth. All of my classmates are still working. They have good income, but also have great expenses. Effectively they are on a "treadmill." Many drive prestige brand vehicles (sometimes leased or financed). They have the trappings of wealth without the high balance sheet. He refers to this as the "Big Hat, No Cattle" phenomenon. The key to success is to live below your means and invest as much as you can. It's not really hard, but as Dr Stanley points out it does require discipline and planning. I go on several cruises each year and am surprised how few doctors I meet. I do meet a great number of professors and teachers. As Stanley points out, educators are very good at investing and planning for retirement. I went on Dr Stanley's website to tell him a funny story and was very saddened to learn that he passed away in Feb 2015--hit by a drunk driver in Atlanta. I will miss his books. I was on the Queen Mary 2 talking with one of the speakers on the cruise and a guy wearing a "Rolls Royce" polo shirt walked up to us. The speaker asked him "Are you connected with Rolls Royce?" The guy responded "I own five of them." The speaker then asked diplomatically "What do you do?" The guy looked a little embarrassed and responded "I'm a retired school teacher and one of my Rolls Royces actually runs!" I think Dr Stanley would have liked that.

Great explination of why some people don't have a clue on how to become wealthy. Somewhat of a rehash of his first book. I would highly recommend the first book over this one but this one is okay too.

I couldnt finish the book - how many times can you make the same point just with different words - this is a real talent. Perhaps there were better insights later in the book but I gave up after 3 or 4 chapters. The main insight is still valid, however, I feel that he could have written a great article with it, just not a book

Very well researched book. Didn't like very much author's personal "belief" system he puts in about wealth. It's up to each individual to decide a moral compass about the wealth one builds for oneself.

I never review products, but thought I would quickly share. I read Millionaire Mind. I would recommend that book way before I would recommend 'Stop Acting Rich'. Much more substance, much more useful information and it is a better written book in my opinion.

First couple chapters are ok but then the book just repeats itself over and over again using different material items (houses, cars, purse, watches, etc) as examples. Don't waste your time or money on this.