Customer Reviews:
Chock full of knowledge.......2007-08-15
I bought this and another highly reviewed book on flipping and this book was vastly superior. It contains a wealth of information about every phase of flipping a property, including detailed information on how to calculate quiet costs, good rules of thumb for rehab costs, and detailed lists of what is involved in a rehab and the correct order to undertake them in. They have obviously flipped a lot of houses and have condensed their experience into extremely helpful lists and formulas that anyone can benefit from.
I could have done without the fictional storyline that accompanies each chapter, but since you can skip it without losing anything, I'm not docking their score.
This Book Is An Excellent Investment.......2007-08-08
I've been interested in flipping houses since I first heard of the concept about 10 years ago. I just never knew where to start. This book walks you through the entire flipping process. It's written in an easy to follow, logical start to finish format. There are formulas for calculating all your costs and your profit before you even make an offer on a house. Outstanding book! I highly recommend it to anybody who wants to get started in house flipping.
Good reference, not very well written.......2007-07-12
First, I must say that this is so far the best book I have read on this subject. The authors seem to be very experienced and knowledgeable in the field of rehabbing homes. I am very pleased with what I got for $15 (or whatever I spent). I feel that with this book, I could successfully FLIP homes. My first primary home was a fixer upper, and I did pretty much all of the work myself. I turned a nice profit when I sold it, but I think that I could have done better had I known then what I know now.
There was not a lot of information that was new to me, but the book did bring together a variety of related topics. Likewise, the authors presented a few smart systems for completing the project.
The reason I gave this book only 4 stars is that I don't like the writing style of the authors. This book could have easily been 150 pages or less. The font was a little big, and there was WAY too much worthless text, random anecdotes, and stupid analogies. One page in particular was about Punxsutawney Phil...it wasn't until the third or fourth paragraph that the author crafted some way of connecting that to flipping houses.
Overall an excellent book worth every penny (the authors need to stick to flipping houses though). I wish I could get my friend who has recently jumped headlong into rehabbing houses to read this book...
Best book of it's kind.......2007-06-14
I am a small time real estate fix and flip investor. I have read many books on this subject and this is by far the best.
Excellent Resource.......2007-05-25
As a Realtor in the Denver Real Estate area, this is a great book! It spells out what it takes to make a flip successful.
Book Description
Secrets of the Millionaire Mind reveals the missing link between wanting success and achieving it!
Have you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?
The shocking answer is: None of the above!
In his groundbreaking Secrets of the Millionaire Mind, T. Harv Eker states: "Give me five minutes, and I can predict your financial future for the rest of your life!" Eker does this by identifying your "money and success blueprint." We all have a personal money blueprint ingrained in our subconscious minds, and it is this blueprint, more than anything, that will determine our financial lives. You can know everything about marketing, sales, negotiations, stocks, real estate, and the world of finance, but if your money blueprint is not set for a high level of success, you will never have a lot of money—and if somehow you do, you will most likely lose it! The good news is that now you can actually reset your money blueprint to create natural and automatic success.
Secrets of the Millionaire Mind is two books in one. Part I explains how your money blueprint works. Through Eker's rare combination of street smarts, humor, and heart, you will learn how your childhood influences have shaped your financial destiny. You will also learn how to identify your own money blueprint and "revise" it to not only create success but, more important, to keep and continually grow it.
In Part II you will be introduced to seventeen "Wealth Files," which describe exactly how rich people think and act differently than most poor and middle-class people. Each Wealth File includes action steps for you to practice in the real world in order to dramatically increase your income and accumulate wealth.
If you are not doing as well financially as you would like, you will have to change your money blueprint. Unfortunately your current money blueprint will tend to stay with you for the rest of your life, unless you identify and revise it, and that's exactly what you will do with the help of this extraordinary book. According to T. Harv Eker, it's simple. If you think like rich people think and do what rich people do, chances are you'll get rich too!
Download Description
"
Secrets of the Millionaire Mind reveals the missing link between wanting success and achieving it!
Have you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?
The shocking answer is: None of the above!
In his groundbreaking
Secrets of the Millionaire Mind, T. Harv Eker states: ""Give me five minutes, and I can predict your financial future for the rest of your life!"" Eker does this by identifying your ""money and success blueprint."" We all have a personal money blueprint ingrained in our subconscious minds, and it is this blueprint, more than anything, that will determine our financial lives. You can know everything about marketing, sales, negotiations, stocks, real estate, and the world of finance, but if your money blueprint is not set for a high level of success, you will never have a lot of money -- and if somehow you do, you will most likely lose it! The good news is that now you can actually reset your money blueprint to create natural and automatic success.
Secrets of the Millionaire Mind is two books in one. Part I explains how your money blueprint works. Through Eker's rare combination of street smarts, humor, and heart, you will learn how your childhood influences have shaped your financial destiny. You will also learn how to identify your own money blueprint and ""revise"" it to not only create success but, more important, to keep and continually grow it.
In Part II you will be introduced to seventeen ""Wealth Files,"" which describe exactly how rich people think and act differently than most poor and middle-class people. Each Wealth File includes action steps for you to practice in the real world in order to dramatically increase your income and accumulate wealth.
If you are not doing as well financially as you would like, you will have to change your money blueprint. Unfortunately your current money blueprint will tend to stay with you for the rest of your life, unless you identify and revise it, and that's exactly what you will do with the help of this extraordinary book. According to T. Harv Eker, it's simple. If you think like rich people think and do what rich people do, chances are you'll get rich too!
"
Customer Reviews:
Highly recommended!.......2007-10-06
T. Harv Eker has written an excellent book that makes you look into yourself to help identify what is holding you back from achieving your financial goals. In reading this book, you challenge your assumptions about yourself and he makes you think if you are truly willing to do what it takes to be rich. Extremely worthwhile and I will pursue additional materials and opportunities to hear Mr. Eker speak.
Mind Over Matter.......2007-10-01
The key to achieving any goal is to mentally determine that it can be done and that you will accomplish it. This book will help you develop the mentality that will increase your odds of gaining wealth. That quest starts out with a bit of house cleaning. The author first helps you to unlearn all of the bad habits that are holding you back financially. After that foundation is laid, he goes on to layout his philosophies the mind set needed to get rich.
I was uncomfortable with his references to the "universe." He seems to use this term in place of God. I've never heard people speak in that way. Otherwise it is a great read.
Secrets of the Millionaire Mind .......2007-09-28
Harv Eker has hit the "nail on the head" with this exciting, upbeat, and challenging "How to" for those of us that want to break out of the poor mentality. I have read many books on this subject but Harv brings new insights into a well writen about arena. He has "passion" about his ideas and suggestions for mastering the inner game of Wealth. My wife and I have both read this book and go back and re-read many time. Good STUFF!!
Very Interesting.......2007-09-19
This book is not about how to invest in the market or any get rich quick scheme. It is a holistic approach to how successful people think and do. Although the topic is about having money, it first questions how you feel about having money. The first part is quite interesting as it gives various examples of how, through conditioning, we have opinions which have been formed at an early age, about money. There are NLP ties throughout this book.
Then Eker introduces 17 "wealth files" which each have various strategies, illustrations and comparisons for those that earn money and those who don't. The message is still clear that you must go and take action as nothing is going to simply fall into your lap. That being said, it begins with the mindset first.
This book is well written, and is a fast read. It is also equipped with many great one liner's, metaphors and stories.
Eliot Hoppe
Author - Selling: Powerful New Strategies for Sales Success
You get to say how it will go..........2007-09-11
This is an awesome read for anyone. It is especially poignant for those who know they have what it takes to make it big; but continue to not master whatever it is that they need to get there. These ideas and concepts can be applied to life; not just creating wealth. T. Harve Eker does a great job of relating to his audience in easy going everyday terminology.
I have been quoting this book since the very first day I listen to the CD. This is a well done first rate book; buy it for your Dad, your Mom, your Brother, Sister; anyone that you care about.
Book Description
Take your real estate career to the highest level!
"Whether you are just getting started or a veteran in the business, The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and in your life."
--Mark Victor Hansen, cocreator, #1 New York Times bestselling series Chicken Soup for the Soul
"This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere."
--Robert T. Kiyosaki, New York Times bestselling author of Rich Dad, Poor Dad
The Millionaire Real Estate Agent explains:
- Three concepts that drive production
- Economic, organizational, and lead generation models that are the foundations of any high-achiever's business
- How to "Earn a Million," "Net a Million," and "Receive a Million" in annual income
Customer Reviews:
How to be the best in Real Estate.......2007-07-26
Gary Keller tells it like it should be. If you have a true servant's heart and want to help people with the skill and knowledge you have as a Realtor, this is the book to read. He gives a number of techniques but ultimately, he makes it clear that you need to want to do what is best for your client - not your pocket. Excellent book, I recommend this to every new agent I work with. Need a plan to get started right, Gary is the man with the plan!
A Primer on doing business.......2007-07-14
There are many books available that address sales and marketing for the real estate agent but very few provide solid advice on how to run a real estate business. This easy to follow book provides information that, if applied will set any agent apart from his peers.
A must read! Changed my career!.......2007-06-27
After the first 6 months in business (I've just finished my 3rd year), I decided to buy a number of Real Estate instructional books on how to sell Real Estate. I had a feeling this would be the best. I saved it for last. I read 4 other books over the holidays (about a 4 week period). The other books were good, but redundant and nothing that changed me. I started to read this book and immedietely knew that this book was different. It gave specific direction on what has worked for successful people. Not just successful people here and there, but the book took a scientific approach to identify common practices among groups of successful Realtors.
The result? I can't say that I do everything that the book says to do. I should! But, I have taken parts of the books and implemented those practices. The year after reading this book I made the top 20% in the market. The following year I made the top 15%. And this year is off the charts. I'm not sure where I will end up, but top 10 or better.
There is no substitute for hard work, but I would rather work hard the right way. Best of luck!
You've Got To Be Open To A Unique Perspective.......2007-06-23
This is the best book on the market on how to organize and run a real estate agent business. Its principles are applicable whether you are a brand new agent, or have years of experience. That said, if you are looking for a book to explain listings per se, or working with buyers per se, then this might not be the right book for you -- this book looks at being an agent from a much broader (and more important in my opinion) perspective than that. If you are smart (if you "get it") then you will realize that the things taught in this book are far more important to your ultimate success than any book you might read on how to take a listing. Buy this book, read it ten times, and when you think you understand it read it ten more times! Its message is that important! Few understand this.
In the spirit of full disclosure, I should say that I am an attorney, real estate broker, investor, trainer, and am affiliated with a Keller Williams office in Chicago. That said, rest assured that my affiliation with Keller Williams does not affect my integrity with respect to my review of this book -- honestly, it is a good book that you should read. For what it's worth, I am the author of another real estate related book that can also be found here on Amazon -- The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording. It's part of the "WealthLoop Series" and unlike many real estate books, it is an actual "how to" book as opposed to a "rah-rah" book and comes complete with forms, checklists, leases -- everything the beginning investor needs to get started. Agents from across the country have been telling me that my book finally taught them the right way to work with residential investors.
I would suggest that you buy both mine and Gary Keller's books.
Useless.......2007-06-19
I am a rookie agent and found the material worthless, a complete waste of money and time. There is no real technique here. The book so repetitive its agonizing. The worst part is it really has nothing to do with real estate, I learned NOTHING about the real estate business reading this book. You could re title the book an infinite number of times and have the same content "The Millionaire Day Care Worker" for example. There is as much information about running a day care as there is real estate. Steer clear.
Amazon.com
Despite its sensational title, David Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich is not a get-rich-quick guide. Rather, the book is a straightforward march through common-sense personal financial planning that suggests readers "automate" their contributions to retirement and investment vehicles. Bach, in fact, calls his model the "tortoise approach" to becoming wealthy by retirement age.
In the early part of the book Bach builds on ideas he established in Smart Women Finish Rich and other bestselling titles. His core principle is that, to succeed, you must "Pay Yourself First." In other words, he suggests using pre-tax retirement accounts (i.e. 401(k)s, IRAs, or Roth IRAs) to set aside a fixed, monthly sum of money before considering what is left for living expenses. The "automatic" part of the title comes from Bach's emphasis on using automated payroll deductions to avoid the temptation of using the money to pay today's bills.
Bach insists that "regardless of the size of your paycheck, you probably already make enough money to become rich." But his claims that his plan requires "no budget, no discipline," is a bit disingenuous. His discussion of the "The Latte Factor" shows that, to find money to start a retirement plan, a person with a modest income needs to make an up-front commitment to stop accruing debt and to reduce spending on such "wasteful" items as lattes and cigarettes.
In the end The Automatic Millionaire does not offer much that is new for readers already familiar with personal finance basics like accelerated mortgage payments, "the miracle of compound interest," and the setting up of emergency funds. But, for those just starting with financial planning, Bach provides a host of resources to put recommendations into action. He walks his readers through such fundamentals as shopping for interest rates, creating a balanced retirement portfolio, and consolidating debt. And Bach's conversational style will make this quick read highly palatable for those daunted by more detailed investment and personal finance titles. --Patrick O'Kelley
Book Description
What’s the secret to becoming a millionaire?
For years people have asked David Bach, the national bestselling author of Smart Women Finish Rich, Smart Couples Finish Rich, and The Finish Rich Workbook, what’s the real secret to getting rich? What’s the one thing I need to do?
Now, in The Automatic Millionaire, David Bach is sharing that secret.
The Automatic Millionaire starts with the powerful story of an average American
couple--he’s a low-level manager, she’s a beautician--whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
What makes The Automatic Millionaire unique:
You don’t need a budget
You don’t need willpower
You don’t need to make a lot of money
You don’t need to be that interested in money
You can set up the plan in an hour
David Bach gives you a totally realistic system, based on timeless principles, with everything you need to know, including phone numbers and websites, so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home.
This one little book has the power to secure your financial future. Do it once--the rest is automatic!
Download Description
Bestselling financial advisor David Bach brings us his proven, revolutionary system that in one hour will make readers -- even those not smart about money, not disciplined or budget-minded -- rich.
The Automatic Millionaire shows readers how to change financial practices and financial lives, beginning with a powerful story of an average American couple -- he's a low-level manager, she's a teacher -- whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. The incredible message Bach delivers is that the key to getting rich is by "automating" the way to wealth by "paying yourself first," using automatic funded retirement accounts and money market accounts to secure the future and pay for the present.
In a short book destined for bestseller lists, The Automatic Millionaire introduces readers to a system that is powerfully simple, and automatically effective, a life-changing system that delivers. Do it once, the rest is automatic.
"The Automatic Millionaire is an automatic winner. David Bach really cares about you: on every page you can hear him cheering you on to financial fitness. No matter who you are or what your income is, you can benefit from this easy-to-apply program. Do it now. You and your loved ones deserve big bucks!"
KEN BLANCHARD, CO-AUTHOR OF THE ONE MINUTE MANAGER
"The Automatic Millionaire gives you, step by step, everything you need to secure your financial future. When you do it David Bach's way, failure is not an option."
JEAN CHATZKY, FINANCIAL EDITOR, NBC'S TODAY
"David Bach's no spin financial advice is beautiful because it's so simple. If becoming self-sufficient is important to you then this book is a must."
BILL O'REILLY, ANCHOR, FOX NEWS, AND AUTHOR OF
WHO'S LOOKING OUT FOR YOU?
Customer Reviews:
I wish my parents knew this.............2007-08-31
And then they could have taught me. This is so logical and easy, it is stupid that it isn't taught as "Post-Adult Survival, 101". This is the way to create your retirement without missing anything.
And about the time you are fifty, you will be able to look back and smile because you are able to retire, and young enough to enjoy it. It should be illegal to NOT make this book mandatory reading for high school seniors.
The Automatic Millionaire is One of the Greatest Eyeopeners Ever!.......2007-08-25
Life-Changing. This book is truly life-changing! When I first read it, I understood what has held 80% of all Americans back financially speaking which is not understanding the power of saving, the constructive used of compound interest and the total avoidance of credit card debt. Though I found it hard to believe when I read the title, I saw upon reading that it is indeed possible to to become an automatic millionaire through a very creative and powerful savings plan exercised over 10, 20 or 30 years.
This book is MUST reading along with these other classic in the field of personal success and money:
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
TRANSFORMING DEBT INTO WEALTH
Rich Dad Poor Dad Classics - 3 Copy Boxed Set (Rich Dad)
David Bach's book should be required reading in every high school business class. Thank you Mr. Bach for opening our eyes to the path of financial independence.
The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich.......2007-08-10
This is a very good basic financial book. It will help not only those who are young, but those who are older. It is full of great ideas to teach us to save money. I liked it so well I ordered one for each of my children.
Usefulness depends on level of reader.......2007-08-03
I bought this book about a year ago and read it pretty quickly. I've read most of the classic personal investing books, so for me, this book is sort of an insult to my intelligence. I just read it again since it's a quick read and I'm still not impressed with it.
If you know little about investing (i.e. if you don't know how to calculate future value on a financial calculator) then I imagine this would be a good book to get a basic understanding of the importance of saving and the miracle of compound interest. I also imagine, as some reviewers have mentioned, that this book would be a good gift for a college grad (if not a business major) or a couple just starting out (if you feel they have no clue about money).
This is just "The Wealthy Barber" repackaged and even more elementary. I can sum this book up in one sentence: forgo the coffee and invest the money in mutual funds. The rest is just filler.
If you really want to read a book on investing, John Bogle's "Common Sense on Mutual Funds" is the best for the mutual fund investor. It will take a little more intellectual curiosity to get through, but the man (who started the Vanguard family of mutual funds) is a genius and you will have a much better understanding of the necessity, risks, and rewards of investing for having read it.
If You're in Junior High School...........2007-08-02
"The Auto-Matic Millionaire" is for neophytes starting out (regardless of age) but it could have gone farther. If this book has the information you need it can be helpful. But it barely scratches the surface.
In addition to the "pay yourself first" DCA (dollar-cost averaging), compound interest, and numerous financial website addresses, there is continuous advice of: "save something, and don't spend all your money." This has now become the too-late (attention Baby Boomers) national anthem of the United States. But nobody's really listening.
Author David Bach presents an occasional chart to illustrate the mathematical factual points. One basic chart on compound interest used 3 examples of three hypothetical people named "Billy, Susan and Kim" who start compounding at the ages of 15, 19, and 27. And yes, time is of the essence. The more of it the better. We know starting early provides enormous advantages down the road. But there is something missing in this chart on page 49. In the compound interest model, if managed mutual funds are used with 12b-1 fees, portfolio turnover costs and taxes, the returns are reduced drastically. Many of these fees are hidden. The total Expense Ratios must be carefully perused. They significantly eat into returns over time. Time not your friend anymore, and becomes your enemy.
Bach's note of the time and financial saving on paying a bi-weekly mortgage instead of once per month is helpful (page 181) but still widely known by just about anyone with, a mortgage.
Pay yourself first: old news here. We hope that we workin' folks would pay ourselves first. There is an outlined grid that can be xeroxed and filled out where one can list the money spent and/or wasted and tallied up at the end of the week. Want to know how to hire the right financial planner? This info, you won't find. You'll have to go to the author's website.
Again, this book doesn't go too deep. The information contained in it can be found on the web or via Bob Brinker for free. This isn't necessarily negative, because this small book contains lots of information in a portable paperback, that can benefit a junior high school student. But your tiny home calculator can compute compound interest just as well as this book.
Book Description
“This book is not just a bargain, it’s a steal. It’s filled with practical, workable advice for anyone wanting to build wealth.”—Mike Summey, co-author of the bestselling The Weekend Millionaire’s Secrets to Investing in Real Estate
Anyone who seeks financial wealth must first learn the fundamental truths and models that drive it. The Millionaire Real Estate Investor represents the collected wisdom and experience of over 100 millionaire investors from all walks of life who pursued financial wealth and achieved the life-changing freedom it delivers. This book--in straightforward, no nonsense, easy-to-read style--reveals their proven strategies.
The Millionaire Real Estate Investor is your handbook to the tried and true financial wealth building vehicle that rewards patience and perseverance and is available to all--real estate. You'll learn:
- Myths about money and investing that hold people back and how to develop the mindset of a millionaire investor
- How to develop sound criteria for identifying great real estate investment opportunities
- How to zero in on the key terms of any transaction and achieve the best possible deals
- How to develop the "dream team" that will help you build your millionaire investment business
- Proven models and strategies millionaire investors use to track their net worth, understand their finances, build their network, lead generate for properties and acquire them
The Millionaire Real Estate Investor is about you and your money. It's about your financial potential. It's about discovering the millionaire investor in you.
Download Description
Thoroughly researched with interviews and insights from more than 100 millionaire real estate investors who have struck it rich through Keller's concepts and practices, this book shows readers how to "think like a million."
Customer Reviews:
Anyone Can do It...Not Everyone will...Will You?.......2007-07-28
Like many of the reviews posted everyone gives the book many accolades. Gary Keller has based his total professional success in life on proven business models that are used everyday by the Masters of Real Estate Investing. It is so easy to fail when you don't know what you are doing.
Clarity of task (preparation) is just as big a part of the actual purchase as timing. Real Estate is always a good investment because if bought correctly you will make your money the day you buy and realize the profit; the day you sell. All the education from all of the guru's is worthless if not based on actual experience. This book or art form is firmly based on experience (models) of the people that practice what they teach. These models serve as a road map to real esate investing success. You can achieve your dream much faster if you increase your learning curve on the first step thereby giving yourself the edge. Another site to get good valid information is Johntreed.com. John reviews many of the big names that we know. John is one of the very successful real estate investors.
The right book........2007-03-16
One thing I like about the books Gary Keller puts together is he goes right to "the horse's mouth" and asks those who are making it big investing in real estate, "What are you doing that works so well for you." He sees a pattern they all have, and then puts a system down in book form that anyone can follow.
For the beginner, there are enough details to give you a good idea what to do...beginning to end. Create a plan, and pursue it. Stay focused.
For the advanced, you get reaffirmation that what you are doing is right, and a few new angles to try. You'll find a gem here and there that will strengthen your systems and procedures. Most of all, you get the notion to think big. I mean REALLY BIG. A million dollars a year in cash flow BIG! Big enough so you can share your masses of wealth with the masses, make a difference in the world, and never miss the money.
Specifics are somewhat lacking, but don't sweat that part. There is no right or wrong investment, only a right or wrong way of handling it.
Change the way you look at investing.......2007-03-11
I have read alot of books about real estate investing. This is the only one that I had to put down after a few pages of reading to grasp what the concepts would mean in my business. As such, it took a long time to read, but has been well worth it.
The foundations of "know your criteria" really focused on what areas of real estate investing I wanted to be in.
The "Buy a million/own a million/make a million" concept got me out of a transaction (# of houses bought) oriented model to a net worth type model. Now, every time a house comes on the market, I know what I am looking for, know if I am going to make a profit of either cash flow or equity and intutively am not caught up in paralysis by analysis like so many of my real estate investor friends.
That being said, even if you aren't a buy and hold investor, this book is one that I recommend to everyone in my real estate investment group. I still go back to it a year after initially reading it to drill down into the insights that Keller provides.
Millionaire Real Estate Investor Book.......2007-02-10
This book was shipped on time. Makes for some great reading.
Millionaire Investor.......2007-01-10
This book is terrific for the beginner investor. It has lots of great tips and worksheets to use to help start on your way to becoming a millionaire real estate investor. It also has great motivational content to help you feel like you are ready to jump in and get to work!
Book Description
Now anyone can be an online millionaire! These days it's easier, cheaper, and safer than ever to start an Internet business using readily available technology and turnkey opportunities. In this strategy-packed guide, Scott Fox reveals the powerful but simple methods he and thousands of others have used to strike it rich on the Net. Exclusive interviews with "mom and pop" entrepreneurs prove how easy it is to get started and build a million-dollar enterprise. Readers get:
* a guide to e-business opportunities, including "instant e-businesses" that require no start-up capital * strategies for making money from home and turning hobbies into businesses * marketing and product tips * legal and financial advice * a list of recommended vendors * years of expertise and experience in one easy-to-use book
Internet Riches also features an action plan for brainstorming new business ideas, and exercises to help readers determine the best moves for their particular situations. Filled with practical pointers and inspiring interviews, it's the most powerful book ever on starting and enjoying a million-dollar online business!
Customer Reviews:
Just what I needed.......2007-09-21
Practical advises and ways to make it on the cyber commerce.
Dr. Israel King, Ph D, Author of How To Keep A Man
book millionair.......2007-09-12
brillant brillant i thought colgate was good but this author leaves a smile on my dial
The only book you need!.......2007-09-10
This book teaches that even if you are not the next Amazon, ebay, or Google, you can still make a million on the internet. You just need to find a niche that is underserved.
I purchased "Starting an Online Business for Dummies" and the reviews were mixed. In someone's reviews, they mentioned this book and said it was much better. They suggested buying this book instead of the Dummies book. I took the advice, and am glad I did!
The book is great because it helps you understand that you don't need to be a billion dollar business to start with. Even small, underserved niche markets can earn a million.
I highly recommend this book if you are considering an ebusiness. It is well worth the money. I have been talking about this book to many people who have asked to borrow the book. I keep telling them to pick up their own copy because I am still using it as a reference! It is a great book!
Good Starter.......2007-09-10
This should be the first book you pick up on your way to an internet millionairehood.
Kishore Dharmarajan
Author of EIGHTSTORM: 8-Step Brainstorming for Innovative Managers
Do no give your money to this Author.......2007-09-08
If you already know what a "blog" is and you're fully proficient in searching the internet with google or yahoo, you're probably too sophisticated for this book. Fox's target are people with very little education (He introduces us at one point to the fancy MBA word, "business plan"). Fox also uses the website he started for his wife and mother as case studies. I guess I should have known better. After all, it is called 'Internet Riches" and has a picture of some guy driving in a brand new convertible on the cover.
Book Description
From financial expert Douglas R. Andrew comes an extraordinary book that challenges the most basic and fundamental concepts of personal investing in a user-friendly format.In the 30 years Douglas R.Andrew has worked as a successful financial analyst, lecturer, and retirement consultant, he has routinely questioned and challenged the accepted tenets of personal finance. His conclusions are absolutely startling. In 23 informative chapters, Andrew reveals his no-nonsense, yet unconventional, financial growth strategies that challenge widespread money myths and make his clients rich with advice like: * You shouldn't pre-pay your mortgage* Don't expect your 401Ks and IRAs to cover retirement* You can (and should) buy a home with no money down* and more!Originally self-published as MISSED FORTUNE (Paramount Publications, 7/03) and targeted towards a more professional financial audience, the first edition of this book sold 10,000 copies. In 4/04, it was published in Warner Business Books trade paperback (0-446-69350-2). This new hardcover edition has been significantly condensed to appeal to the average personal investor.
Customer Reviews:
Unlike some advisors Mr. Andrew walks his talk! .......2007-10-02
I have had the occasion to meet Douglas Andrew and he is his own biggest client. He seems to be one of the most straight forward, straight shooting people I have ever met. I was a stock broker with my insurance license, a mortgage wholesale rep, as well as a real estate broker and I have to say the strategies that are espoused in this book are all... right on! Hey, nothing is completely risk free but this comes close. I took my own home equity out [by selling my home] before the prices went down. I am glad I did. Most of it I will put into this strategy over the next 4 years and some will be saved for a down payment when I think housing prices have bottomed. When that home goes up I will take the equity out and start another plan like this. It makes little if any sense to have your home equity sitting there doing nothing. I mean would I leave $100K or more sitting in my checking account, earning zip? NOT! Well money that was sitting in my own home was making me nothing. It's the same to me. Hey, if I can borrow at a simple interest rate and have it accumulate and grow [even tax favored maybe] and compound over time into a large sum, I am all for it. The idea of using home equity to grow wealth is not new but until now I have never seen a strategy that I was comfortable with. This book turns life insurance upside down and shows us how to maximum fund a contract and therefore use it as a great 'living' benefit rather than buy the most death benefit for the least amount of money and possibly outlive the insurance just when we are nearing the 'benefit', if you want call it that, since one has to die to get it. But let's face it, we all need life insurance and I know no better way to have it. The way Mr. Andrew explains it, if structured properly Uncle Sam is paying for it. The strategies in this book are varied and flexible. He also shows us how our qualified plans [401K, IRA, 403b, etc] may very well not be serving our best interest. This book is a must read for anyone that is willing to think for themselves [outside the box] and especially if you have been around long enough to understand what Douglas Andrew means when he says 'sometimes it's what we don't know that we don't know that can hurt us.'
Please be careful..........2007-10-02
I think I would sign up for this if I had a lot of money and have as a small part of my portfolio - but for the most of us this would mean putting all our eggs in one basket, and not be able to take them out again.
I had 2 telephone appointments with the author's son contemplating signing up with their method. I expressed our concerns about our liquidity if another disaster of some sort happens. When 9/11 happened our income went down significantly for 1-2 years afterwards, and if it happened again we would not be able to pay the much higher mortgage we would have if we re-financed according to his plan. He swiftly explained that we would just file for bankruptcy(!). We have worked hard for ten long years putting our sweat equity into making our little house our dream home that we never want to leave - you can't buy a view like ours for a mortgage of $800/month anymore - why would we want to gamble with that?? The negative amortization loan he suggested would easily be covered by the continually rising house values here in Southern California, he explained. I protested that nothing can keep going up and up forever, and I didn't want to sit with an upside-down situation in my house at re-finance time. He didn't agree - just look at history he said - it keeps going up! Fast forward a few weeks and the whole foreclosure heaven came down, and our house is worth a good $100.000 less than just a year before...
Boy are we happy we didn't put blinders on and get too gullable!
We will find another way to provide for our retirement, thanks.
Also his projections of payouts in retirement are not adjusted for inflation so it really doesn't tell you much. $70k might sound like enough today but what will it be in 30 years...?
Please look into your options, consult a few traditional financial planners and ask them to explain the differences and in particular the high fees associated with this method. We found out that we'd be pretty well off just by investing the difference between our current mortgage payment and the one we would have re-financed to. Also have an equity line on your house and you will have the liquidity the book tells you you can't have unless you go with their method.
Utter Garbage.......2007-10-01
Every flimflam man knows that the con must be carefully layered around a kernel of truth for credibility. Missed Fortune 101 by Doug Andrew succeeds in this by wrapping a number of preposterous ideas and prevarications around three basic and true axioms. They are: (1) income is taxed in what are essentially "chunks," (2) the only relevant tax rate for decision making is the marginal rate, and (3) tremendous wealth can be created by borrowing at one rate and investing at a higher rate. Everything else in this book is not only utter nonsense, but potentially lethal to one's financial health.
The author arrives at two basic conclusions. We should borrow out of our homes and invest the proceeds at a higher rate. Universal life insurance serves as Andrew's means to this end. We should also suffer the consequences of withdrawing from our IRAs and other retirement plans now rather than later, since the tax from such withdrawals will only get worse. Naturally, the leftover funds (heavily diluted by taxes) should be invested in the same insurance policies, which supposedly offer a higher--and safer--yield than whatever the retirement plans were invested in. By page 5, I realize I'm reading a book-length sales pitch and con that has the potential to wreak havoc in my clients' lives (disclosure: I've been an Enrolled Agent tax professional and Certified Financial Planner licensee for almost three decades).
Anything this full of nonsense is difficult to critique. Short of writing a book-length retort, I've settled on the idea of listing the multitude of problems by category and providing examples from each.
A far more comprehensive review is available at my personal sites; just Google my name to find me. This is an abstract from that review. Serious readers will want to check out my books to see what links may exist between financial abuse and the field of addiction. You may wish to start with Drunks, Drugs & Debits: How to Recognize Addicts and Avoid Financial Abuse or Alcoholism Myths and Realities: Removing the Stigma of Society's most Destructive Disease.
Highly misleading examples
(2) "A $6,000 interest expense deduction on an itemized tax return has the same impact as a $6,000 qualified plan contribution. They are simply reflected in different sections of the return." Aside from numerous other issues, the tax savings from the interest deduction may be zero if you don't already itemize deductions.
(3) He implies that ordinary investors can double their money for 20 periods by comparing one dollar pre-tax and one dollar taxed-as-earned, doubling each "period" for 20 such "periods." The number of humans who have done this or something equivalent numbers perhaps a few thousand, which wasn't accomplished by investing in insurance contracts.
Faulty and twisted logic
(4) "...Your home may likely sell much more quickly and for a higher price with a high mortgage balance rather than a low mortgage balance." What the heck does the balance on my mortgage have to do with what a buyer is willing to pay me for my house?
Broad, sweeping and misleading generalizations
(2) Andrew advises that we all sell our homes and repurchase with 100% financing with the goal of freeing up equity to invest in his recommended universal life policies. He ignores the higher interest and property mortgage insurance costs on such loans, overlooks possible increased property taxes and disregards fixed transaction and moving costs.
(4) "Unfortunately, non-spouse heirs far too often end up with only about 28 percent of the money that was left in their parents' IRAs and 401(k)s." This is scare-mongering.
Questionable predictions and grand assumptions
(3) "Conservatively, [our cozy retirement] cabin will double in value every ten years..." and our $100,000 cabin will be worth "$800,000 in thirty years." Very few areas in the country even during the late real estate boom of the last three decades have done that well. What would qualify as "aggressively"?
Assertions and generalizations that may be lethal to your retirement
(1) "Home equity has no rate of return when it is trapped in the house..." This is outright nonsense. The return is what you save in interest or rents.
(5) He concludes that if not done before, "roll-outs" from IRAs commence at age 59 ½ over a five year period and that some younger people under age 50 should commence withdrawals despite the imposition of early withdrawal penalties. The value of tax-deferred growth is ignored, as is the fact that "repositioning" of funds shrink the amount available for investment by the tax paid, which greatly distorts his calculations.
Inane or incorrect assertions
(2) He states that the interest on an equity line used to purchase universal life insurance from which you contemplate borrowing is deductible. Under IRC section 264(a)3, it isn't).
Sloppy editing of facts
(2) "One requirement [for withdrawing tax-free income from a Roth IRA] is that a distribution may not be made until at least five years after the first contribution is made." This is incorrect. Principle contributions, which are withdrawn before earnings, can be taken at any time at no cost in tax or penalty.
Poor writing and berating of those who disagree with him
(2) "There are two ways to handle information: ignore it as false or increase your level of understanding to accommodate new ideas." Obviously, we are supposed to accommodate his ideas or we're complete idiots.
(3) There are probably hundreds of examples poor writing. "...Premium payments can be varied, fluctuated, and adjusted according to circumstances..." should be, simply, "Premiums can be adjusted."
Throughout, Andrew uses variations of the typical bunko-artist salesman ploy: scare you into agreeing to do whatever he says because life will be filled with disasters if you don't. On the contrary: your financial life will likely turn into a catastrophe if you do.
What your Life Insurance Agent hopes you NEVER read.......2007-10-01
When did Life Insurance become a good Investment?
Did they stop charging those 90% plus commissions on target premiums?
When did the Life Insurance Agent become a charitable organization?
Anyone who is believing this so called NEW way of thinking is either really bad with math or simply does NOT understand Life Insurance. There is a REASON you don't see REAL professionals using this concept they KNOW the TRUTH!!!
What is the ROI on my home Equity? MORE THAN ANY LIFE POLICY!!!!
After you learn how to subtract out all the commissions and fees, then the REAL cost of the death benefit, loan fees for your house loan fees for the life policy let's sit down and compare which approach works best. Having my house free and clear with NO COMMISSIONS to pay, no loans, and no INCREASING internal costs for the life insurance will BEAT any Life Policy I GUARANTEE IT!
Here is a shocker to reality. If you bought into this BS and mortgaged your house and placed the money into a life policy order a current statement for your policy showing the SURRENDER CASH VALUE in the first year, HOW MUCH did you LOSE? Then look at the 5th year how much have you LOST? Tenth year? Do the REAL MATH find out the REAL FACTS.
LIFE INSURANCE is one of the HIGHEST commissioned products in the financial industry if not the HIGHEST FACT! Where do you think that money comes from, YOUR POCKET. 90% first year target premium commission and then about 6% commission each year thereafter. Do the math if the insurance company is paying out 90% of the first year target premium in commissions and 6% each year how long does it take for YOU to make MONEY or even breakeven on your so called investment? It will take OVER 20 YEARS!
Here is a little KNOWN FACT there are currently MANY so called experts out there today TRAINING for a large fee many other life insurance agents and mortgage brokers how to SELL LARGE COMMISSIONED life insurance policies. They don't care if you need a policy or NOT they only care about SELLING a policy. Check the facts. Some are even paying for cruises for Seniors then encouraging them to apply for insurance. IT IS HIGHLY PROFITABLE to someone BUT NOT YOU the policyholder.
You will see many lawsuits in the coming years from these abuses when the you know what finally hits the fan.
By the way did you know that it was illegal for you stock broker to encourage you to take out a mortgage to buy an REAL INVESTMENT? It should also be illegal for Insurance Agents but it's not, well not YET, time will tell.
I wish more people would ask the harder questions before believing this new line of BS.
FACTS: Insurance agents make about a 30-50% commission on term life insurance and around 90-95% commission on whole life products. Keep in mind that this is the first year commission on the premium and subsequent year commissions are much lower with an average of 6% per year for whole life products and 4% per year on term life insurance products.
One of the great problems with whole life is only an expert can tell if a policy you own or are considering will ever become a decent investment. James Hunt, actuary for the Consumer Federation of America, who has analyzed thousands of policies, notes that whole life policies hardly ever yield a reasonable return unless held for 20 years or more.
So if you buy one be prepared to pay into it for the very long haul.
The key to a whole life policy is its internal rate of return -- the yield on the policy after all fees and charges are subtracted. A competent analysis can determine at a minimum whether the weight of the fees and charges built into one of these policies will ever allow a worthwhile return. Such an analysis will also pinpoint the minimum amount of cash value that you can derive from a policy at any given time interval.
Some financial planners, actuaries and accountants can perform internal rate of return analysis on your policy. The Consumer Federation has a service that will do this, calculating the real return year by year and comparing it with other investments.
Promissing theme but not a panacea.......2007-09-30
Folks, this book will not apply to most readers.
I really wanted to understand and believe the method of this book because I certainly could benefit from it. The theme is to extract equity from your home(s) now before the bubble deflates. Then you invest it into insurance products for a guaranteed return. The whole book builds the reader up to find that magical solution, which climaxes at the end with a table of financial calculations.
Here is the problem with this method. His base figures are unrealistic to start with. Current rates for equity extraction (home loan/credit or refinance) are *higher* than what he uses in his tables. The returns from a fixed insurance contract are much *lower* than his tables. If you plug realistic figures into the calculations you will see this method barely makes sense.
There are many huge disadvantages to this method. First the upfront and yearly fees are so expensive it does not make sense to withdraw your money for at least 6 to 7 years should you need it. Second, you are paying a price for the guaranteed fixed return in the term of management fees which lower your return. If you invested in a regular taxed mutual fund, over a long period of time you will always do better than the insurance fixed return. Third, insurance contracts are not wise vehicles for passing on wealth to beneficiaries. Sure there is a payout, but should you live far past your average life expectancy, the majority your accumulated funds go into the insurance company's vault forever! Fourth, the method mentioned in the book is convoluted and is in part based on a series of tax loopholes. That means, as the author does acknowledged, the legality and advantages may change or vanish over time.
With all these drawbacks, why was the book written?
This book is essentially a sales pitch disguised as a presentation of logic and calculations. But as mentioned, the figures used for the foundation of the calculations are simply not realistic.
Financial planners make their biggest commissions on insurance products. The author is a financial planner.
Most financial gurus (Susy Orman, etc.) dislike insurance contracts and advise that individuals plan their own investments.
However, for those who would like a lower fixed return for a price and are less concerned about passing on their wealth to beneficiaries, this method could possibly apply.
Amazon.com
How can you join the ranks of America's wealthy (defined as people whose net worth is over one million dollars)? It's easy, say doctors Stanley and Danko, who have spent the last 20 years interviewing members of this elite club: you just have to follow seven simple rules. The first rule is, always live well below your means. The last rule is, choose your occupation wisely. You'll have to buy the book to find out the other five. It's only fair. The authors' conclusions are commonsensical. But, as they point out, their prescription often flies in the face of what we think wealthy people should do. There are no pop stars or athletes in this book, but plenty of wall-board manufacturers--particularly ones who take cheap, infrequent vacations! Stanley and Danko mercilessly show how wealth takes sacrifice, discipline, and hard work, qualities that are positively discouraged by our high-consumption society. "You aren't what you drive," admonish the authors. Somewhere, Benjamin Franklin is smiling.
Book Description
The incredible national bestseller that is changing people's lives -- and increasing their net worth!
CAN YOU SPOT THE MILLIONAIRE NEXT DOOR?
Who are the rich in this country?
What do they do?
Where do they shop?
What do they drive?
How do they invest?
Where did their ancestors come from?
How did they get rich?
Can I ever become one of them?
Get the answers in The Millionaire Next Door, the never-before-told story about wealth in America. You'll be surprised at what you find out....
Customer Reviews:
Excellent book - will make you think twice before buying that new car. .......2007-10-03
Making a million dollars a year is much different than being worth a million dollars. You may make a million, but if you spend it all your net worth is zero. When looking for millionaires to research, the authors initially looked at the fanciest and highest priced neighborhoods. What they found out was that there weren't many millionaires there at all. This book shows you that those who are actually worth millions do not have the newest cars, the latest gadgets or the biggest houses. They live modestly but have little or no debt. Its amazing to see people everyday falling into the traps this book outlines. Those that are wealthy know they are wealthy and do not need flashy cars and material things to prove it to the world. They don't buy cars, they buy property or other investments which make them more money. While others are borrowing money to maintain their million dollar lifestyle, the true millionaires are sitting back collecting money from their investments.
The Basics.......2007-10-01
You can learn something profound from almost any book. This read is filled of wise advice for those attempting to build wealth or figure out how wealth is built.
The book reviews the habits, tendencies and actions of the rich. Their findings will surprise you and may change the way that you think.
After reading it you may not scoff at the next person you see driving a Ford F150 or envy the driver of the most expensive Mercedes.
Good Advice However.......2007-09-29
I think that it offers good tips, HOWEVER. I have a friend who is super cheap. Which is fine if you don't want to spend your money on yourself but money shouldn't come out of my pocket to help you. she is the type to never contribute to gas and tolls on trips, and never take her car. Always seem to be short a dinner or the cover charge in a club. I could go on and on with incidents, but I stopped going anywhere with her for this reason. I noticed in her profile she listed this book as one of her favorites. I think it offers a guideline but it is sometimes not frugal but acting cheap. so I understand why many say this about the book. What are you saving your money for, but to spend it later.
The millionaire next door.......2007-09-28
Everyone should read this book. If you want to be a millionaire, see how millionaires act.
More respect for the "wierdo"........2007-09-24
This is the most amazing collection of research I have come across in a very long time! It is so simply illustrated, you are left wondering why you never took the time to understand the "eccentrics"!
They are the ones who definitely will have the last laugh--on their way to the bank.
Average customer rating:
- Distant Land Made Near
- mostly boring
- WHY ISN'T THIS BOOK BETTER KNOWN?
- Nostalgia
- I trust you will be just as Wowed as I was!
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The Distant Land of My Father
Bo Caldwell
Manufacturer: Harvest Books
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ASIN: 0156027135 |
Amazon.com
The Distant Land of My Father begins like a fairy tale: "My father was a millionaire in Shanghai in the 1930s.... On the day he was born, in the province of Shantung, neighbors presented my missionary grandparents, the only Americans for miles, with noodles in great abundance and one hundred chicken eggs, in honor of their son's birth." To the young Anna Schoene, life in Shanghai is indeed magical. There are servants, a luxurious villa, a beautiful mother who smells like Chanel No. 5, and a young, handsome, polo-playing father. Unfortunately, her father is also a smuggler and speculator who loves his freewheeling life more than anything (or anyone) else. Despite warnings, Schoene refuses to leave Shanghai even after the Japanese invade, and his wife and child retreat to Los Angeles; later, he survives imprisonment and torture only to once again choose Shanghai over his family--this time with the Communists moving in.
Bo Caldwell's sepia-toned evocation of 1930s Shanghai is lovely and physical, and given the built-in drama of its setting, this first novel ought to have the vividness of a classic movie. Yet the characters remain oddly flat while world events swirl around them. Great chunks of historical exposition seem largely undigested, while Schoene's final change of heart fails to ring true. In a sense, however, these shortcomings are beside the point. The Distant Land of My Father is above all a tragic romance, albeit one with an unusual love interest. Schoene is so besotted with Shanghai that his wife and daughter are scarcely as real to him as the city itself. --Mary Park
Book Description
Anna, the narrator of this riveting first novel, lives in a storybook world: exotic pre- World War II Shanghai, with handsome young parents, wealth, and comfort. Her father, the son of missionaries, leads a charmed and secretive life, though his greatest joy is sharing his beloved city with his only daughter. Yet when Anna and her mother flee Japanese-occupied Shanghai to return to California, he stays behind, believing his connections and a little bit of luck will keep him safe.
Through Anna's memories and her father's journals we learn of his fall from charismatic millionaire to tortured prisoner, in a story of betrayal and reconciliation that spans two continents. The Distant Land of My Father, a breathtaking and richly lyrical debut, unfolds to reveal an enduring family love through tragic circumstances.
National Bestseller
Customer Reviews:
Distant Land Made Near.......2007-08-13
This is a truly remarkable first novel. The author, Bo Caldwell, has made the city of Shanghai of the 1930's come alive, not only in he visual aspects of the city but in the ambience of the time. The dharacter of the young girl is so well developed that it is difficult to believe that this is not autobiographical rather than fiction. Her complex and conflicting emotions about her father are completely believable and even vicariously experienced in a sense. The character of the mother, too, is welll developed and, like that of the daughter, very sympathetic. My only adverse criticism is that the character of the father is not sufficiently developed to be completely convincing.
mostly boring.......2007-06-29
While the premise of THE DISTANT LAND OF MY FATHER intrigued me - an American family living in Shanghai in the 1930's when the Japanese invaded China - this book took way too long to pull me in. Although written in the first person, the author's writing style is detached and impersonal. This book reads as if it's a piece for the evening news - telling the reader this or that detail, offering only small glimpses of the main characters' inner lives. The reader is told, not made to experience, what's going on. Also, the author's overly-detailed writing bored me to tears. The research Caldwell did preparing for this book was quite evident, but it would have been appreciated more if she hadn't gone on for pages upon pages detailing a barrage of Shanghai minutia - i.e., the order of streets and buildings were so thoroughly detailed I had to pinch myself to stay awake. (This book was my book-group's June selection, which is the only reason I kept on reading.) Finally, somewhere around page 250, the plot became suddenly more engaging and I found myself actually interested in the characters and what was to become of them.
In the end, I found THE DISTANT LAND OF MY FATHER a somewhat interesting read. But this book could have been wonderful - had the author written in a deeper point of view, and made the dialogue more engaging from the start.
WHY ISN'T THIS BOOK BETTER KNOWN?.......2007-06-23
This book is wonderful and unique, it is hard to believe it is fiction - Bo Caldwell has us seeing, feeling and smelling Shanghai and Southern California in the 40's and 50's. This book should be made into a movie - at the very least it should have been a number one bestseller for weeks on end. Everyone I have recommended it to has been blown away. I am looking forward to her next effort.
Nostalgia.......2007-05-07
Strained relationships between middle-aged parents and their daughter are the focus of a story whose main interest for me was the reliving of the period from WWII into the 50s and 60s, with some mostly accurate information about the customs and values of a now-longago time in Shanghai and Southern California. As I am a resident of the Pasadena area the local geography brought to life a story that was otherwise not terribly compelling of a daughter's ambiguous relationship with her father and grandmother. The somewhat shady experiences of the father in Shanghai were perhaps purposely not clearly defined. All in all, it's a nice book to take and read on a long trip.
I trust you will be just as Wowed as I was!.......2007-02-23
Let me first explain how I came upon reading DISTANT LAND. I was in Vroman's bookstore in Pasadena, CA and noticed the book being promoted. I actually bought it thinking it was a memoir and only upon getting it home realized that it was a fictional memoir, in fact a first novel. Then I noted in Vroman's magazine that each year the city of Pasadena picks one book for the whole city to read, so that the city has a common cultural experience. For 2007 that book is DISTANT LAND. At the time I did not know the city of South Pasadena plays a significant roll in the narrative. Then next I had to over come the fact that I am not particularly found of novels told in the first person as DISTANT LANDS is narrated by Anna who we meet as a young girl in Shanghai in love with her surroundings and with her father. A Father who appears at ease with being a blond, blue eyed native born Chinese (born of missionary parents). The novel is epic (taking place from the late 30s to the early 80s), yet intimate and a very unique emotional telling of Anna's life and her Father's love of Shanghai which we discover consumes him as he commits one poor value judgment over another. The book is brilliant in creating a sense of place and character, you are constantly surprised and will find the last 100 pages will rip tears from right out of your eyes. I understand this is Ms. Caldwell's first novel and it is simply an amazing, entertaining, and enlightening achievement in what some might classify as an historical novel. But it is really in the end an intimate story of emotions, choices, and consequences, told through terribly real people that have to learn that love is
overcoming the serious faults of those we should (and must) love. The distant land of Anne's father may have been Shanghai, China, but it was really the emotional distance she felt when her father chooses his love for Shanghai over her and her mother. You come to fell this must be a true memoir as is so believable. This is an outstanding book and I trust you will be just as Wowed by it as I was.
Amazon.com
What do you do after you've written the No. 1 bestseller The Millionaire Next Door? Survey 1,371 more millionaires and write The Millionaire Mind. Dr. Stanley's extremely timely tome is a mixture of entertaining elements. It resembles Regis Philbin's hit show (and CD-ROM game) Who Wants to Be a Millionaire, only you have to pose real-life questions, instead of quizzing about trivia. Are you a gambling, divorce-prone, conspicuously consuming "Income-Statement Affluent" Jacuzzi fool soon to be parted from his or her money, or a frugal, loyal, resole your shoes and buy your own groceries type like one of Stanley's "Balance-Sheet Affluent" millionaires? "Cheap dates," millionaires are 4.9 times likelier to play with their grandkids than shop at Brooks Brothers. "If you asked the average American what it takes to be a millionaire," he writes, "they'd probably cite a number of predictable factors: inheritance, luck, stock market investments.... Topping his list would be a high IQ, high SAT scores and gradepoint average, along with attendance at a top college." No way, says Stanley, backing it up with data he compiled with help from the University of Georgia and Harvard geodemographer Jon Robbin. Robbin may wish he'd majored in socializing at L.S.U., instead, because the numbers show the average millionaire had a lowly 2.92 GPA, SAT scores between 1100 and 1190, and teachers who told them they were mediocre students but personable people. "Discipline 101 and Tenacity 102" made them rich. Stanley got straight C's in English and writing, but he had money-minded drive. He urges you to pattern your life according to Yale professor Robert Sternberg's Successful Intelligence, because Stanley's statistics bear out Sternberg's theories on what makes minds succeed--and it ain't IQ.
Besides offering insights into millionaires' pinchpenny ways, pleasing quips ("big brain, no bucks"), and 46 statistical charts with catchy titles, Stanley's book booms with human-potential pep talk and bristles with anecdotes--for example, about a bus driver who made $3 million, a doctor (reporting that his training gave him zero people skills) who lost $1.5 million, and a loser scholar in the bottom 10 percent on six GRE tests who grew up to be Martin Luther King Jr. Read it and you'll feel like a million bucks. --Tim Appelo
Book Description
In his first best-seller, Dr. Thomas J. Stanley shattered one of contemporary America's most firmly held myths: That wealthy individuals belong to an elite group of the highly educated and exceedingly lucky who often inherit their money and spend it on lavish purchases and pampered lifestyles. In fact, a significant number of America's wealthy are far more likely to work hard, save diligently, and live well below their means. As the title of Stanley's 1996 best-selling book stated, they are The Millionaire Next Door. Now, Dr. Stanley takes us even further with a new, ground-breaking study of America's wealthy. In THE MILLIONAIRE MIND he targets a different segment of the population and those who have accumulated substantial wealth and live in ways that openly demonstrate their affluence. Exploring the ideas, beliefs and behaviors that enabled these millionaires to build and maintain their fortunes, Dr. Stanley provides a fascinating look at who America's financial elite are and how they got there. What were their school days like? How did they respond to negative criticism? What are the characteristics of the millionaire's spouse? Is religion an important part of their lives? The author uncovers the surprising answers to these and similar questions, showing readers through concrete examples just what it is that makes the wealthy prosper when others would turn away dejected or beaten. The Millionaire Mind promises to be as transformational as Dr. Stanley's previous best- seller. This book answers universal questions with solid statistical evidence in an approachable, and anecdotal style. The number of copies sold of this soon-to-be-classic will surely be inæthe millions.
Customer Reviews:
Another great book by Thomas Stanley .......2007-09-27
Interesting insights into the typical millionaire personality. If you liked the Millionaire Next Door, this is an interesting book written along the same lines.
Statistical truth is half truth.......2007-09-10
I actually bought this by mistake. I was looking for Harv Ecker's book Secrets Of The Millionaire Mind, which I liked even less.
Want to become a millionaire? Forget it if you're a single woman. Forget it if you're a man who chooses to marry a woman with dreams of her own. This book winds up being so supportive of the 'father knows best' stereotype of what leads to success that I found it annoying. This book looks for, and finds, great successful MEN who own businesses, go to church, have "supportive loving" wives and families. They turn out to be the largest group of the rich. What a surprise.
Save your money and buy "The Millionaire Next Door" instead.......2007-08-13
I love "The Millionaire Next Door" (TMND) so much that I buy it 100 copies at a time to give away as gifts. That book is a financial planner's dream book because it explains in detail what we as a profession know about how most people become wealthy in America. Do buy that book -- it is fabulous.
This book is a disappointing follow-up. The typical millionaire that Stanley profiles here has a $600,000 income and a $9 million net worth. There are not too many people that I know that could believe they will ever earn that kind of income or have that kind of net worth. However, I do know many people who make $60,000, $80,000, $125,000, $150,000 or some other achievable income who do become millionaires or even multimillionaires. There is not much that they are going to find in this book that they are going to connect to, while TMND is chock full of "how to's" to become an "every day" millionaire.
This book is much too long, it is poorly edited, and as a result it is plain old boring. It reminds me of the boring textbooks I had to read in college. I was often incredulous that the person who wrote TMND could have written this book! He has obviously lost the good editor he used in the past. The book says in 400 pages what easily could have been said in 150 pages. It is full of mind numbing details and statistics.
I love to tell people that if you want to become a millionaire, then imitate millionaires. Dr. Stanley does a fabulous job in TMND delineating what millionaires really do:
1. Get out of debt and stay out of debt.
2. Save money; always pay yourself first. Spend less than you make. The typical millionaire saves 15-20% of their income.
3. Buy used cars and do not lease cars. You'll have plenty of time to drive luxury cars after you are rich -- don't do it while you were becoming rich as it will really slow down your efforts.
4. Buy a house and live in it for 20 years. If you upgrade every five years to keep up with the Joneses, you will never become rich.
5. Track your spending. Live frugally. Spend your money on what is important to you and not what will impress the Joneses. Do not spend money on "status artifacts" as Stanley calls them.
6. You do not need to make a ton of money to become a millionaire. If you follow steps one through five above long enough, you will eventually become a millionaire.
If you are in a business where your target market is people with at least a $10 million net worth and an income of at least $600,000, then it might be worth your time to slog through the tiresome details in this book. Otherwise, buy TMND and you'll know how Tom Stanley earned such a good reputation.
Jan Dahlin Geiger, Certified Financial Planner(tm), Author of "Get Your Assets in Gear! Smart Money Strategies" Get Your Assets in Gear! Smart Money Strategies
The Millionaire Mind.......2007-08-12
Highly Recommended read - it will change the way you think & spend your money.
Great information, and good on the commute (audio version).......2007-08-11
Aside from usefulness of content, one factor I always take into consideration into how easy it is to listen to is the reader, in this case, Cotter Smith is very enjoyable and easy to listen to. In terms of content, we get to look into more of Thomas Stanley's reasons for researching the affluent, and even some of his students. There is
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