The Five Lessons a Millionaire Taught Me About Life and Wealth

by Richard Paul Evans

Easy to understand and simple to apply, The Five Lessons a Millionaire Taught Me About Life and Wealth is one of the most powerful books ever written about money. This book will change your life.

When Richard Paul Evans was twelve, his father, a building contractor, shattered both his legs. With no insurance, no income, and eight children, the family was destitute. At that difficult time young Evans was introduced to a kind multimillionaire who taught him the five secrets of wealth. Today, Evans credits those lessons not just with bringing him wealth and success but with bringing him freedom and opportunity in a world where financial slavery is ubiquitous.

In his signature motivational voice, Evans interweaves those influential lessons with personal stories from everyday people. He explains that money should not be the preoccupation of our lives. Rather, if we follow the five principles, we will be free to focus on God, family, and relationships—the true nourishments of life.

Wise and compelling, The Five Lessons a Millionaire Taught Me About Life and Wealth can be read in a single sitting and will leave you with a new view of what it means to be rich—and convinced that you, too, can build wealth. The Five Lessons a Millionaire Taught Me About Life and Wealth is endorsed by financial consultants, churches, schools, and marriage counselors.

You cannot afford to be without this book.

Genres: Nonfiction, Finance, Business, Self Help, Money, Personal Finance, Audiobook

160 pages, Hardcover

First published January 1, 2004

About the author

When Richard Paul Evans wrote the #1 best-seller, The Christmas Box, he never intended on becoming an internationally known author. His quiet story of parental love and the true meaning of Christmas made history when it became simultaneously the #1 hardcover and paperback book in the nation. Since then, more than eight million copies of The Christmas Box have been printed. He has since written eleven consecutive New York Times bestsellers. He is one the few authors in history to have hit both the fiction and non-fiction bestseller lists. He has won several awards for his books including the 1998 American Mothers Book Award, two first place Storytelling World Awards, and the 2005 Romantic Times Best Women Novel of the Year Award. His books have been translated into more than 22 languages and several have been international best sellers.

Reviews

[Sydney · Rating 2 out of 5]

Meh. He gave good advice and it was ok. The problem was it wasn't really anything I hadn't heard before. And his budgets and other appendices at the end kind of sucked. If you're going to read a money self-help book, read something by Dave Ramsey.

[Darrin · Rating 5 out of 5]

Very fast read and very sound advice. I read lots of other reviews giving 1-3 stars and the thing that makes me laugh is that almost every one of the lower reviews says something the effect of “I didn’t learn anything new from this book so it wasn’t that great”. It is that mentality the RPE specifically addresses: not being willing to delay gratification which leads to poor decisions. I would bet that most people who see this book title think it is going to give some secret silver bullet because they are looking for the fast way to become a millionaire rather than the long-term approach to applying the 5 Lessons and living a disciplined lifestyle. I personally have not lived with the discipline of a wealthy person with a wealth-building mindset up to this point in my life but I can change that, starting today. I am also teaching a weekly class to 10 teenagers on Financial Literacy and the simple but powerful lessons in this book are the exact things that will allow them to be far better off when they are approaching 40 years old than I am in my life and, if I can help someone else become wealthy, even if it takes me longer to get there myself, that is worth pursuing.

[Kristina Giovanni · Rating 3 out of 5]

Good advice, some of which was a summarized collection of anecdotes from books like Millionaire Mindset and the Millionaire Next Door. Basically, save, save, save, while paying off debt and learning to live happily without the extras, then when you have the extra money, give some away and karma will reimburse you. It's a lot of Power of Positive Thinking and setting intentions and speaking aloud affirmations of wealth. Seek and ye shall find. Beneath everything is the core message - save at least 10-20% of your income and find a (miracle!) way to make that savings earn at least 10% - good luck!

[Book Concierge · Rating 3 out of 5]

Evans is best known for his novels - The Christmas Box was a NY Times bestseller. In this small book he passes on advice he learned as a youth from a man at his church. The principles are not difficult to understand, and anyone can do them. But the key is deciding to adhere to this advice and not succumb to the pressures of modern day living that equate conspicuous consumption with wealth. It’s a quick read, and it fulfilled a challenge to read a book about money, but I didn’t learn anything new.

[Lauren Curley · Rating 3 out of 5]

The concept was good and had some reminders for me, but I didn’t learn anything new. This was a quick read.

[Laura · Rating 4 out of 5]

This book has been on my list to read for a long time because the “millionaire” referred to was a relative of my husbands. I thought this book had good insights and tips for people to make small changes in their spending habits. There were a few similarities to Ramsey’s money makeover book and I can see why some information in here could be useful to those trying to save money. It’s a quick and easy read. Listened to it on Hoopla.

[Sophie · Rating 4 out of 5]

Read this in one day - an easy read with great info presented in a clear and concise way! #moneytimeee

[Cynthia · Rating 4 out of 5]

This is a super practical, easy-to-read book. Worth picking up to ask yourself if you can implement these tips & habits!

[Kari Napier · Rating 5 out of 5]

ABSOLUTE MUST READ!! If you struggle saving or spending read this and utilize the 5 lessons throughout your day!

[Stephanie · Rating 3 out of 5]

As with other finance books, I thought the ideas presented here were reasonable and smart but not necessarily feasible. I would love to implement many of the ideas presented but feel that someone would already need to have accumulated a fair amount of wealth before they could do so. My husband and I are young and just starting out, and while we tend to be very strict with our budget already, we still struggle at times with being able to invest much, save much, etc. Life sure is expensive! Nevertheless, I really appreciate the ideas put forth in this book, so perhaps I can revisit them later down the road. I always feel more inspired, motivated, and energized about finances after I read one of these books. I am already quite responsible financially, but they push me to challenge myself even more to be better.

Take this book for what it is. It's simple but offers sound advice. The first lesson, "decide to be wealthy," may seem silly at first glance, but it's one I had already taken to heart, even before reading this book. It's a good mindset to have. I believe that deciding to be wealthy and desiring to be rich are two completely different things. I'm sure most people desire to be rich, but not everyone decides to be wealthy. Deciding to be wealthy means deciding to take your finances completely into your own hands. It means making sacrifices to ensure a better future. It means being responsible for your actions and your financial life. This is probably the most important lesson in the book. While I haven't become wealthy yet (and it will probably be a long time before I do!), I will continue to make those decisions every single day and work hard for my family's future.

All in all, this book offered some good insight. I'm glad I read it, but it wasn't life-altering by any means. It was a decent finance book but not one of the best and I enjoyed some portions more than others.

[Gabriela · Rating 5 out of 5]

The 5 principles advocated here seem to offer more depth and practicability than most other personal finance or get rich books


In the Five Lessons a Millionaire Taught Me, Richard Evans draws from his own life experience and the personal stories of others, to make the proposition that money should not be the dominant fixation in our lives. Instead, he proposes five philosophies that we can apply to enjoy freedom in all areas including family, intimate relationships as well as our spiritual life.

I like Evans' conversational style of expressing important values that anyone can apply in his or her life. While there are many personal finance books, this came out as particularly interesting; the five principles advocated here seem to offer more depth and practicability than most other personal finance or get rich books. The five principles include: decide to be wealthy, take responsibility for your money, keep a portion of everything you earn, win in the margins.

I recommend this simple read to anyone looking for a different and refreshing approach towards personal finance. The principles here will not tell you about the math of personal finance, but they will offer you a formidable framework to accumulate wealth through managing your finances.

[Ellen Pilch · Rating 4 out of 5]

I would have given this book a 5 except for one thing at the end which I will get to. First off, it is simple, straight forward advice that everyone can use. I am thinking of getting a copy for my niece and her husband who are recently married and saving for a home.
A lot of stuff we all know, but just don't do. For example, think before you purchase something no matter what it is. Do we need to eat out so often? Is that going to leave us as happy as financial security. Evans doesn't want us all to be tight wads, he just wants us to give up a few things we really don't need in the big picture of things.
OK, my gripe is at the end. He lists several ways to make extra cash in addition to our day jobs. One suggestion is breeding animals. I think that is the stupidest idea ever. As someone who works with rescue groups and sees the over population problem everywhere, I do not promote breeding. I am a big fan of Spay/Neuter programs. Other than that,this is a Goodread even though the book came out over 10 years ago.

[Cathy · Rating 4 out of 5]

Good reminder and advice on money, life and wealth. It was written in 2004, but it applies anytime. It is sound advice. The millionaire talked of 5 lessons.
Lesson 1 - Decide to be wealthy
Lesson 2 - Take responsibility for your money
a. Know how much money you have
b. Know where your money comes from
c. Know where your money is going
d. Know what your money is doing
Lesson 3 - Keep a portion of everything you earn
The Power of Compound Interest
Starting Your Nest Egg
Lesson 4 - Win in the margins
Winning in the margins with extra income
Winning in the margins with savings
Mind-Set 1 - Carefully consider each expenditure
Mind-Set 2 - Freedom and Power are better than Momentary Pleasures
Mind-Set 3 - Does not equate spending with happiness
Mind-Set 4 - Protect the nest egg
Lesson 5 - Give back
It also gives several resources and forms. This is a very helpful book. Quick read too.

[Sharon Ouderkirk · Rating 4 out of 5]

Commonsense rules for accumulating wealth - 1) Decide to be wealthy; 2) Take responsibility for your wealth; 3) Pay yourself first; 4) watch the margins - i.e., there are only two ways to make money: Increase your income or decrease your expenses; 5) Give back.
I have read books with similar advice before, but I find it interesting that so many wealthy people comment on the good karma of giving back and how giving away money increases their wealth by the good fortune that comes their way as a result. It would be an interesting experiment to do a year of giving back, and track the results.
Evans' book is not complicated - he learned these lessons when he was a teenager, and I think any teenager could read this book and benefit from it. A big value for adults is the list of ideas at the end of the book for reducing expenses - grocery, car, insurance, etc. - practical and useful, however, I think mostly everyone can benefit from a two hour read that reminds you of the rules for taking care of your money, so that your money can take care of you.

[Dillan Taylor · Rating 4 out of 5]

Helpful and digestible mental models around building wealth. Very short book.

My biggest takeaways:

• It’s not about what you make; it’s about what you keep.

• Impulse buying is the root of all evil. It’s the bread and butter of consumerism.

• Scrutinize each expenditure with these questions:
1. Is this purchase really necessary? Is this the best way to achieve what I want?
2. Does this match the lowest price available?
3. "Is that (really) the best you can do?"
4. Is this purchase adding to or taking away from my wealth?
5. Is this an impulse purchase?

[Ann · Rating 4 out of 5]

I read the women's version of this and was surprised how much I liked it.
Very simple and effective tools, easily learned and applied...not a "budget", but a way of setting goals financially and taking an active part in planting the financial seeds in one's own financial garden, growing for rainy days and better times, regardless of how the national economy is going, etc.

Like a financial recipe book for success in baby steps...

[Rylan · Rating 3 out of 5]

I had to read this for school. Nothing special

[Lynn Carrigan · Rating 5 out of 5]

What a good read! Very simple to understand and apply. Highly recommend

[Judith Martin · Rating 2 out of 5]

Note that the websites quoted in the book do not exist. Otherwise very good advice, most of which I was already following.

[Dawn Brinks · Rating 4 out of 5]

Quick read, good tips.

[Halley Parke · Rating 4 out of 5]

Richard Paul Evans is a fiction writer. He has at least five pages of books on Amazon. He wrote another book I have called The Four Doors: A Guide to Joy, Freedom, and a Meaningful Life. He also wrote a 5 Lessons for Women in 2009, which I haven’t read yet.

This book, The 5 Lessons a Millionaire Taught Me About Life and Wealth has some basic, common sense information and supplies basic forms to help you decide your net worth and where your money is going. This book is a good starter financial book that those new to learning how to handle their money should read. The book reflects the same mantras many other financial books follow. This book put the information in an easy way.

I recommend reading it, however, the websites mentioned in the book (that are owned by the author) are no longer active. This book originally came out in 2004 (reprint by Fireside in 2006). That was a long time ago. So, read the book but don’t expect to get the forms from the website mentioned. At the time of this review, they are not available on his author’s website either. Make your own and follow some of his advice. You’ll be good to go.

[Brian · Rating 3 out of 5]

This is a quick read and each of the five lessons are useful. I don't always agree with the author's examples (one of them is a guy that got rich with a multi-level-marketing/network marketing business which tends to impoverish the vast majority of people who work in this schemes) but that shows that the lessons are generally applicable whether or not it's a socially responsible way to make your millions. Winning in the margins doesn't have to be moral to increase your income. If you're not already budgeting and tracking your expenses then this may be the book to give you that motivation. If you're not evaluating your spending by whether it helps you make more money, then this could be the book for you.

[Amy · Rating 4 out of 5]

I don't know about the resources that may accompany this book, but the basis and overall message of it was great. It's a shorter book and almost a summary of many other "be a millionaire" financial health books floating out there. This makes it great for people who feel they don't have time to read a self-help book about money because they are too busy working pay check to pay check (but wish they weren't). It could also easily serve as a way to light a bit of fire under yourself now and again and remind you of what you financially want out of life.

[Catherine · Rating 3 out of 5]

I thought he had a lot of good points, especially about interest and savings. The only thing that seems a little disheartening is that it's hard to feel like you can become very affluent when you are comparing your income to that of a best selling novelist like Richard Paul Evans. However, I do realize that most people are not in his situation and he understands that as well and is trying to help the everyday person.

[Thacia · Rating 4 out of 5]

The tips in this book are good and helpful. I think that the organization of the book is good too. I think it could have had the tips a little better told. I missed one or two of them but I had to go back and read over it again because I didn't pick up that it was one of the five tips. Maybe it's just me. I think that the book is great. Some personal development books have resonated a little stronger with me but this one is good.

[Amy · Rating 5 out of 5]

Great, short book that all households should adhere too!

1. Decide to be wealthy
2. Take responsibility for your money
3. Keep a portion of everything you earn
4. Win in the margins (Mind-sets 1-4: Carefully consider each expenditure. Freedom and power are better than momentary pleasure. Does not equate spending with happiness. Protects the nest egg (minimum of 10% or each paycheck should go to this 90-100% of extra income!)
5. Give back

**It's never too late to start!**

[Jennybug · Rating 3 out of 5]

This was a good book with some basic common sense ideas on how to save money/become a millionaire. I liked a lot of the ideas and thoughts.

Richard Paul Evans was good at compiling quotes and stories from other people to make a short little book about finances.

Here is one more idea on how to save some money. Don't buy this book. Check it out from a library if you really want to read it.

[Melissa Poza · Rating 4 out of 5]

This book was a perfect start to my journey in learning about money and my relationship with it. Since I'm a novice when it comes to it, the book was beneficial. I don't think it would spark an interest in someone that is more advanced in money management. I loved that it was a quick and easy read and I can build a foundation with what I learned from this book.

[Mary · Rating 5 out of 5]

Once you've read Dave Ramsey's "Total Money Makeover" make this your next great read.

If you're a woman, read his book specifically written for women (same title but it includes "for Women" on the cover.) He hits on a lot of excellent points that we women need to be aware of.

We are on track to start living a fresh new way that includes paying ourselves for the future.

[Rachel · Rating 3 out of 5]

If this were my first financial book I ever read, it probably would be 4 stars. It is a fast and interesting read, full of stories and experiences, but it only has the basics and makes me question how, or what next. It would be a good motivational read for someone struggling to manage their money, but did not dive into much of the nitty gritty. Overall, worth the read.