The Top 10 Distinctions between Millionaires and the Middle Class by Keith Cameron Smith

This is a simple book that cannot be put down. Unlike many other books on how
to garner financial success, this is a slim volume, filled with short words, making
it a perfect quick read. Keith Cameron Smith lays the book out in 10 easy
chapters of about 10 pages a piece. This makes the book a quick course on how
to think like a millionaire, readable in an afternoon.

Smith does not have any research at his disposal to back up his claims, but the
points he makes are simple to understand and seemingly simple to implement.
He uses snazzy catch phrases like "Millionaire work for profits. The middle class
works for wages." I suppose he already knows that the book will be read by folks
in the middle classes. Nonetheless, he describes some of his own work history
and job experience, which backs up his theories.

While I am disturbed by the lack of research, his catch phrases are appealing,
and his goals seem easy to implement. One of the things that stands out most to
me is near the end, where Smith talks about how millionaires use their money not
to buy things, but to buy other assets. By this he means that they spend their
wages to buy what makes more money for them, like real estate and stock. This
idea resonates, especially after the enormous lottery jackpot we had recently. It
made me remember all those shows about lottery winners who blow through their
money and are left with nothing. It seems we folks in the middle class have a
tendency to spend our money on hot tubs and big cars, instead of investments
like stock and real estate. We fail to see the big picture or plan for the future,
unlike millionaires, who apparently forgo the hot tub today for the mansion ten
years from now.

While Smith may not have set out a foolproof blueprint for success, he does
present some very intriguing ideas in this slim volume. And with a book this easy
to read, I would recommend it to those people who would like 2012 to be the year
they can stop living paycheck to paycheck, and start making and saving more.

submitted by Gerti