An outstanding piece of research well presented and easily digestible. A must read for anyone who is serious about wealth generation.
I concur that there is probably an inverse law that states the more likely an UAW individual is to see themselves in the numerous negative case-studies, that the less likely they are to grasp the books central thesis and thus the less likely to either really benefit from the suggestions and ultimately, the less likely they are to enjoy the text and rate it favourably. Conversely, the more likely a PAW or an AAW aspiring to be a PAW is able to internalize the message the research is trying to convey, to see themselves or their aspirations in the case-studies and thus, the more likely they are to enjoy the book and rate it favourably. I maintain that how an individual digests, process the contents and subsequently rates this book speaks volumes about their consumer and investments habits.
However, having stated the above and genuinely agreed with and enjoyed the thrust of what Doctors Stanley and Danko had to say, I did find myself from time-to-time (especially in the early parts of the book) correcting the biased (and quite unscholarly) presentation of their statistics; examples: p.16., p161., and asking questions which they weren't asking in a desire to prove their central thesis. For example the correlation between the price one pays for one's suits and one's occupation and how that profession in turn has certain inescapable knock-on effects. That is to say some professions 'require' their participants to spend a disproportionate percentage of their incomes not on wasteful consumer items, but on staples that oil the wheel of their industry, e.g. suits, watches and other clothing and accessories. I suggest therefore, that the book devote a separate chapter to correlate this and offer advice as to which professions require a lesser expenditure simply to maintain a credible position and a proportionate level of income. A good number of the respondees appeared to be business owners in quite manual/blue-collar occupations, henceforth asking them how much they paid for a suit is a mute point and totally unworthy of mention. Likewise the story of the unwanted Rolls Royce is another perfect example of how such a gift is totally inappropriate for the realm in which that recipient dwells. Therefore trying to compare, contrast or correlate such expenditure across VERY different professions and very different social stratos is an utterly fruitless pursuit. Whilst the basic premiss might be to show that the UAW spend more on such items, those UAWs were paid professionals and not business owners and both respondents were working within different sectors therefore nullifying any such cross-reference. That I found annoying.
All-in-all however, an excellent book packed with lots of information and lots of chances to evaluate one's own wealth and expenditure. Agree with the contents or not? It doesn't really matter, the ideas proffered are sound and valuable and should be heeded by all.
This is an itneresting book. It will tell you the habits of the rich. It will tell you what the rich do, in general. It will not give you specific investment advice. It will give you some guidelines for how much you need to save, etc.