Thomas J. Stanley’s The Millionaire Next Door is one of the most well-known financial books that’s ever been written. It’s sold millions of copies and is on every list when you Google “best personal finance books.” Despite its acclaim, I had a visceral reaction the first time I read it.
The whole idea is that if you save, scrimp, and avoid spending during your life, you can die a millionaire. That didn’t set well with me. The thought of handing the money I’d worked my entire life to earn over to my children or grandchildren—who’d likely blow it because they didn’t work hard to earn it—sounded like a recipe for a life of misery. Much of my philosophy for life and finances came from wanting to do the opposite of what I read in Stanley’s book.
But here’s the thing: some people love The Millionaire Next Door. They love saving money, putting into the bank and watching it grow. During a conversation I had with Robert Kiyosaki, author of Rich Dad, Poor Dad (a…