Amazon.com
There's a big difference between "making a living" and making a life. Do you spend more than you earn? Does making a living feel more like making a dying? Do you dislike your job but can't afford to leave it? Is money fragmenting your time, your relationships with family and friends? If so,
Your Money or Your Life is for you.
From this inspiring book, learn how to
- get out of debt and develop savings
- reorder material priorities and live well for less
- resolve inner conflicts between values and lifestyles
- convert problems into opportunities to learn new skills
- attain a wholeness of livelihood and lifestyle
- save the planet while saving money
- and much more
Book Description
Find financial freedom in the new millennium with a new edition of the life-changing national bestseller
More than three-quarters of a million people everywhere, from all walks of life, have found the keys to gaining control of their money--and their lives--in this comprehensive and revolutionary book on money management. Considered the bible of the voluntary simplicity movement, Your Money or Your Life is now updated with a new Preface, Index, and Resource list to help you put the program into practice. This simple, nine-step program shows you how to:
* get out of debt and develop savings
* slow down the work-and-spend treadmill
* make values-based decisions about your spending
* save the planet while saving money
* Over three years on the Business Week bestseller list
* Your Money or Your Life made all major bestseller lists in hardcover and paperback, including the New York Times, USA Today, Business Week, Publishers Weekly, and Washington Post
Customer Reviews:
very practical handbook to finance.......2007-10-24
I enjoyed this book as the authors not only gave some very excellent insight into the current 'middle class' lifestyle, but also gave some really thorough data on how to do a 'hands on' handling of your own finances. Working out the true income level for your job is quite a new concept compared to other finance self help materials. Also, the historical data on the 'work week' was quite helpful. I enjoyed the humor as well as the emphasis on getting your own financial 'house' in order so that you can do what is really valuable for you with your life.
You Cannot Read This Book Soon Enough!.......2007-10-06
This book did a wonderful job of orienting me financially so that I could visualize where I was at financially and what I would have to do to have the kind of future that I wanted. In my case, I wanted to retire in my fifties to pursue my own interests. For me, working for others was just a way to make money to support my family, etc. Anyway, I read this when I was in my early forties, and I managed to retire in my late fifties. There were some fortuitous events that helped me along, but I give Joe Dominguez most of the credit (along with what retirement savings we had already accumulated).
This is not the best book for learning the essentials of how to invest and what not. The author's advice in this regard is probably too conservative. He advocates investing in treasury bonds only, and regards the stock market as too risky. Conventional wisdom is that investing in such bonds only is also inherently risky, and that you need to diversify among asset classes to control risk. However, it is unlikely that anyone I know is going to retire due to a "great year in the market". And of course, me and my friends that looked at the 20% a year (or greater) returns in the wild and wacky 90's and assumed that was the norm, either learned from guys like Joe, or we learned the painful lessons that so many before us have learned when the market melted down. The author's use of the long bond as a safe return is right on. Today, to enjoy a retirement income of $40k, you need about $800k invested, just not all in bonds.
You can readily find books that explain modern portfolio theory in easy to understand language. This book, with its simple planning and tracking exercises, has helped me to no end in understanding why I spend money, where I spend it, and how to get it under control. And the long term planning exercises, and the author's whole point of view on the subject, are priceless. I was so excited after reading this book, that I bought copies for my children (who were young adults). Their books went unread, but I am going to read it again. There has always been an extra copy around the house--one of the fortuitous events that has helped me along.
A Good Reality Check.......2007-10-06
I first read this book about ten years ago when I was working hard and watching the money go out faster than it came in. It was a great reality check on my life. Older now, and rereading it today it is still inspires me. It makes a perfect gift for younger people who are confused about the lack of personal satisfaction in their lives.
The basic premise that this is your life and you choose how you want to live it is its defining characteristic. The rest of your life flows from that. Acknowledging what has meaning for oneself and then directing one's actions to those ends can get lost in the day to day need to "earn a living."
It covers well the nuts and bolts of making these choices and giving you tools to enable accomplishing them. It is a little simplistic and conservative financially but given that it was written before the growth of the online economy it can really get you started.
Taking charge of one's life, not going with the flow, climbing up the corporate ladder, working at a job that is meaningless is well addressed. The next step is choosing how to live a meaningful life and examining other choices.
A book that has been helpful to me in this area is Internet Riches: The Simple Money-making Secrets of Online Millionaires, by Scott Fox. This book is a detailed practical guide to building an online business, full of strategies and thought-provoking ideas. Like Your Money or Your Life, it talks of building a life that is meaningful and gives you up-to-date tools for financial independence through self-employment.
Your Money or Life stops you in your tracks with its challenging thesis and Internet Riches gives you a new roadmap for implementation. Both are useful books with a positive message.
Disappointing book, doesn't live up to its title.......2007-10-04
I was shocked to discover they recommend investing only in bonds. Also their claim that inflation does not exist is bogus.
I can't believe they would recommend you quit a full-time job which usually has benefits to find part-time work which usually does not provide benefits. Have you tried buying your own health insurance? I have and it is not cheap. Sure, you get more time to yourself, but at the same time your earnings go down your insurance expenses go up. If you hate your job anyway you might consider doing this, but I don't see how they could recommend this in a general sense as a path to financial independence. The numbers don't add up.
While I think their advice to live within your means, make a budget, know where your money is going, calculate your net worth is all good, I think they have gone off the deep end on some of their other recommendations which makes me highly suspect of the book as a whole.
rethinking money.......2007-08-24
This book made me rethink how money works and how it can work for me. It is a reality test for how we really spend and it coaches you on how to get in control of your money instead of letting it control you. I reread this every once in a while to reset my financial vision.
Amazon.com
The advice and concepts outlined in Automatic Wealth are best suited for those in their 30s-50s who recognize that their current job will never afford them true financial independence. Rather than encourage readers to quit their day jobs today and launch into a new scheme tomorrow, Masterson shows how to turn your skills and experience into significantly more money within seven to fifteen years. For those just getting by, he details how to get the biggest pay raises now and how to move into more lucrative ventures in the near future. For those with some savings, he offers specific advice on building equity and increasing net worth significantly and quickly. Since Masterson made his millions starting and developing small businesses, he encourages people to become entrepreneurs themselves and discusses which kinds of ventures to invest in and which ones to avoid. He also stresses the importance of developing multiple income streams, offering chapters on real estate, stocks and bonds, consulting, direct mail, and other opportunities.
In addition to concrete steps, Masterson also writes about attitude and expectations. His first step, in fact, is to take an honest and realistic assessment of your current financial situation and prepare yourself to change habits. He stresses that you must make getting rich a priority and devote the necessary time to it--act immediately and don't wait until the perfect moment to change your situation (hint: the perfect moment rarely arrives.). Clearly written and filled with informative anecdotes and examples, Automatic Wealth will not make you a millionaire overnight. It could, however, make you one in a decade, and that's a timeline most people can deal with. --Shawn Carkonen
Book Description
"I have known Michael for over twenty years. He has one of the smartest business minds I know. When he gives me advice, I pay attention, and you should, too. Automatic Wealth is full of wisdom and insight filtered by a master and brought to you in a well-written and delightful style."
-John Mauldin, Editor of the bestselling book, Just One Thing: Twelve of the World's Best Investors Reveal the One Strategy You Can't Overlook
"I am not usually a fan of this kind of book. One entitled Automatic Wealth made me suspicious. But I am a fan of Michael Masterson, and when I read the book, I was impressed. Masterson manages to go beyond the theory to tell you exactly how real people make real money in the real world. That, I think, is his genius. He's able to open his own eyes and see for himself what actually works. The result is original, clever, and very helpful to anyone who is serious about building wealth."
-Bill Bonner, coauthor of Empire of Debt: The Rise of an Epic Financial Crisis
"Michael Masterson has been a great friend of mine for over twenty years. I know for a fact that the strategy he teaches is the exact same strategy he has personally used to amass extraordinary wealth and prosperity for himself. He's reduced a normally daunting process down to six simple and unfailing steps YOU can absolutely use to vastly and rapidly increase your financial situation, often times doubling and redoubling your wealth every few years. This book will become your financial bible."
-Jay Abraham, author of Getting Everything You Can Out of All You've Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition
"Michael Masterson's book is brilliant and concise, packed with breakthrough insights and unique wealth-building tips. Best of all, it's practical because it combines proven investment and financial planning advice with street-smart business and real estate secrets."
-Robert Ringer, author of Action!, Looking Out for #1, and To Be or Not to Be Intimidated?
Download Description
If you're worried about getting burned by financial programs that promise you'll get rich quick - through unlikely stock tips or high-risk trading strategies - and don't have the patience to invest in a savings plan that takes thirty or forty years to take advantage of the "miracle of compound interest," then you've picked up the right book. In Automatic Wealth, self-made millionaire Michael Masterson draws upon his own experience and that of experts in the fields of retirement, investing, and real estate to offer you a complete program on achieving financial independence. Organized around six key principles, Automatic Wealth will show you how to develop your wealth- building skills and habits and turn yourself into an "automatic wealth-builder." The proven program detailed throughout this book - one which incorporates nothing but strategies that have personally worked for Masterson as well as the people he's mentored - is broken down into six easy steps: Facing the Facts - Here you'll discover what wealth means to you and come to a realistic conclusion about what you need to do to put yourself on a path that will allow you to live well and retire comfortably. Plan to Become Wealthy - Offers simple, straightforward advice that will prepare you for your journey. Develop Wealthy Habits -Illustrates how the right mind-set can translate into more money. Radically Increase Your Income -Provides the framework for making the money you want through real estate, investing, and other proven financial vehicles. Get Richer While You Sleep Reveals the best ways to create a steady stream of income that will automatically flow into your pocket. Retire Early - Explores proven approaches to wealth building that will allow you to retire sooner than you might have expected and still live comfortably throughout your retirement years.
Customer Reviews:
Strategic Wealth Creation Guide for Mid-Lifers.......2007-09-18
Masterson knows wealth creation, having done it himself and coached thousands of others how to do it. This is a needed book for those in midlife who have not up to this point been diligently building their wealth and now need more aggressive strategies than those in their younger years who have time (and compounding interest) on their side.
Wealth does not just happen. You create it. You need strategies and you need to take action. For most people in midlife, this involves creating multiple streams of income and running your own side business to generate passive income (money coming in while you sleep). You might decide to keep your job (and there are good reasons for many to do so), but get ready to roll up your sleeves and start working for yourself.
Masterson's ETR ezine is one of the few I read. He's one of the "real deals" in wealth creation. Do not delay in picking up a copy of this book and GET GOING on creating your own financial security.
Mollie Marti, Ph.D.
Author, Selling: Powerful New Strategies for Sales Success
Wealthy book.......2007-03-09
I find it a very usuful book, make the map of your plan, a must.
Weak on content, strong on theory.......2007-03-04
This is a GOOD book, not a GREAT book. If you've never read anything about wealth building theory then you'll love this book. Otherwise, you'll find the same old rehashed material sliced and diced a dozen different ways in no less than 278 pages that seem to drone on endlessly.
As far as theory goes, you could do worse. The basics are all there. But the author could have easily told this story in half the space. You're not likely to learn anything new, unless you haven't been around the block yet. And you just might reinforce a few old ideas. But the content falls far short of the promise of the title, "Automatic Wealth".
And the six steps to financial independence? You can get as much reading Consumer Reports. It's a shame because I was hoping, even rooting for the author to give the reader more. There's nothing I love more than to give a glowing, enthusiast review of books that truly help people change their lives - either personally for financially. This book does neither.
If you have a young adult just about to graduate from college, make this book a gift. He or she is likely to learn a great deal. Ideally, the young tike will put a few of the concepts to practice (maybe patterned after YOUR example)?
Otherwise, look elsewhere for more realistic advice.
Great if it is the first book you'll read on the subject.......2007-01-12
This book does a great job of going over the basics---but so do most other books on the subject matter. Nothing new here.
Beginners will love this book. More hype and nothing new for the rest of us.
Enough material for a good chapter, not a whole book.......2006-09-02
A few good ideas that could have been a good chapter in another book.
Book Description
Millions of people around the world participate daily in network marketing sales. This book offers, for the first time, a step-by-step plan for building a profitable, long-lasting network marketing business. This simple, proven system—from an author who built his own million-dollar network marketing business—gives everyone in the network marketing industry the tools and tactics they need to succeed spectacularly. Rubino’s seven-step system covers every aspect of the network marketing business, from planning to prospecting to training, and gives you the confidence and attitude you need to make your business work and keep it profitable.
Customer Reviews:
Good Book for who is begining or just being working in MLM.......2007-08-23
As any other book you'll not find here the solution for your network marketing carrear. Anyway this book will guide you from the zero to the most important points to get a professional work in marketing multilevel. I do recommend this book to everyone.
Good Read, Excellent Advice.......2007-02-15
Mult-Level Marketing (MLM), also known as Network Marketing, is an excellent business model for the aspiring entrepreneur. Whether you want to build a huge empire, hang around positive people, or learn the art of building a business, MLM is a good route to take. Rubino does a good job in this area by explaining how to employ committment, positive attitude, planning, and specific conversational techniques to recruit people into your organization and make sales. Rubino also discusses how to find the right company/product/service suited for you. In my opinion, this is the most important aspect of MLM, and is not to be taken lightly. Read his book and get some sound advice before jumping in. If you are already involved in a company, Rubino's advice will help you grow and make money.
Other books I have enjoyed on the subject of making money in business include any of the Rich Dad, Poor Dad series of books by Mike Kiyosaki, and "The 17 Principles of Creating Wealth," by Phillip Collinsworth.
MLM the easy way.......2006-10-12
Dr. Joe Rubino has done it again. This books is a must for every serious MLM business owner who wants to succeed. You'll find that it is packed with ideas and methods to help you build your mlm dynasty. There is no reason to be poor when you have a book like this to guide you through the hard parts.
Incredible Insight........2006-06-01
It doesn't matter if you are new to Network Marketing, or a seasoned pro, Dr. Rubinos book is a must. I have read it through several times and am applying what he says. There is no fluff and he knows his business. I certainly think this should be your next purchase if you are serious about building an incredible business. He takes the concerns out of the business that have been tagged to it over the years. It has helped my Network Marketing business in a big way. Thank You Joe! Doug Marshall www.dougexeseries.com
A Road Map to Success .......2006-05-12
You are setting out on the most exciting journey of your life...personal and financial fulfillment!
Network Marketing can be a perilous adventure ...but it needn't be! Wouldn't it make sense to purchase an excellent road map that is clear and concise, well-written and user-friendly for the newest of travellers as well as those who are regular sojourners? I highly recommend Dr.Joe Rubino's book as the roadmap to guide you on your journey - a foundational book for building your business successfully. Chapter after chapter teaches you the nitty gritty of how to build strong and how to build a long-lasting business. Follow his success principles and you'll defuse 'roadrage' in your business, avoid the pitfalls, the unnecessary detours... until you have arrived safely at your journey's end. By embracing his excellent advice on creating a vivid vision of your destination even before you've physically arrived there, this will be your driving force that will keep you on track, and in combination with an effective personal development program and an accountability system, the ride will go much more smoothly without too many frustrations. Dr.Joe Rubino's description of his own personal journey to financial independence through network marketing adds 'heart' to the book, and provides inspiration for all who wish to embark on a similar exciting journey. A must-read for all who want to build a successful and profitable network marketing business.
HILARY BLACKBURN, B.Ed
Book Description
Praise for STARTING YOUR OWN PRACTICE
"This book will become your blueprint for success if you decide to go down the path of going into business for yourself."
—Dr. Bob Froehlich, Chairman Investor Strategy Committee, Scudder Investments
If you're tired of working for someone else and have contemplated striking out on your own, Starting Your Own Practice: The Independence Guide for Professional Service Providers can turn your dream of owning an independent business into a reality.
Written from the perspective of successful entrepreneur and investment advisor, Robert Fragasso, this book is designed to help professionals who provide skilled personal service—from investment advisors, brokers, consultants, attorneys, and accountants to computer programmers, healthcare professionals, and architects—make the right choices as they pursue their independent business endeavors.
Filled with in-depth insight and practical advice, Starting Your Own Practice lays out a complete blueprint to business independence that includes: Deciding whether self-employment is right for you How to leave your current employer Structuring the marketing, management, staffing, and general operation of your business Converting existing clients or customers to your new business as well as gaining new clients and customers The best ways to finance your business Protecting yourself and your business from liability and loss
Download Description
Trusted advice for those looking to strike out on their own Written from the perspective of a successful entrepreneur and investment advisor, Starting Your Own Practice is designed to help professionals looking to go into business for themselves make the right choices. This comprehensive guide will help professionals plan their next move and show them how to structure the marketing, management, staffing, and general operation of their business. Starting Your Own Practice can turn the dream of owning an independent business into a reality, especially for those who are already experienced investment advisors, insurance agents, attorneys, accountants, and consultants. Robert Fragasso, CFP (Pittsburgh, PA), has over three decades of experience in the investment and financial planning fields. He directs the planning, management, analysis, research, and review of all client programs at the Fragasso Group.
Book Description
“There are dozens of primers on investing, but Schwab’s is straightforward and carefully organized. . . . The glimmers of his personal life are gems. . . . By now, Schwab is a financial brand name, and the lessons from his rich life make for good reading—and good investing.” —
Suze Orman, author of The 9 Steps to Financial Freedom
The biggest risk in investing is doing nothing. In the updated edition of this New York Times bestseller, Charles Schwab presents clear and simple lessons that will give readers the confidence they need to start down the road to financial independence. Schwab, one of the most trusted gurus in American investing, explains all the basics in a clear, easy-to-understand way.
This revised edition completely updates the book to take into consideration the substantial changes and fluctuations in the market in recent years. A significant amount of new material has been added, including a valuable section on performance monitoring, a key strategy that enables investors to measure the performance of their portfolios against objective benchmarks.
Using this excellent book, investors will learn how to:
• Define and set investment goals
• Prepare an investment plan, put it into action, and update it regularly
• Plan for their children’s education
• Cope effectively with the ups and downs of the market
• Plan for a comfortable retirement
Customer Reviews:
Excellent Reading for New Investors!.......2005-04-26
I am 30 and completely new to the investment world. This book offered excellent investment advice for even beginning investors. I totally disagree with the first reviewer who said this book is for the rich. Even if some of the book speaks to people with a lot of money, it clearly explains what the different types of investments are, defines terms throughout in case you forget what the key terms are so you don't have to flip back through the book when you forget what he's talking about, and offers insite from someone who's very successful at what he does. It's a great guide to start with. I would recommend this book to all beggining investors. It's excellent!
personal finance.......2005-02-09
This is a great book on personal finance. When most people think of Charles Schwab, one of the biggest names in finance, they think of investing in equities. However, Schwab has chapters on mutual funds, fixed-income securities, and taxes. He talks about how to get started in investing, the importance of it, and how to invest to meet your goals and needs.
I use his services to manage my family's portolios online and it is cheaper than other services, unless you are a day trader. Other services require a minimum amount of trades per month, that is how they charge less for their trades. Schwab's services are ideal for anyone managing their IRA. You also get free S & P stock reports for companies, which gives you all of the historical data you need to make a wise decision. The previous reviewer didn't review the book, he reviewed the policies at Charles Schwab. If you are investing less than $10,000 and are trading more than a few times a year, taxes and transaction fees are going to eat up your returns no matter what. And since when is having $10,000 in savings rich?
This is a great book for beginners and people who need some guidance with respect to their retirement investments. Definitely worth reading.
pretends to be for all investors but is only rich investors.......2004-11-09
In his book Charles Schwab pretends to have opened his brokerage for American investors but it isn't for all because the Charles Schwab BROKERAGE REQUIRES $10,000 TO OPEN A BROKERAGE ACCOUNT FOR INDIVIUAL[retail] INVESTORS.Harrisdirect,Firstrade,Optionsxpress don't require anything to open a brokerage account for individual investors.
Customer Reviews:
coin laundries--Road to financial independence.......2003-10-26
This book is indispensible for anyone interested in owning or operating a coin laundry. In fact I highly recommend it to anyone interested in starting any small business.
Great information!!!.......2003-09-03
THis is a must read for anyone who is serious about owning a coin laundry business,full of helpful information
Excellent Book for a Beginner.......2003-05-15
I decided to buy this book after finding not much else in this business field. I am well impressed. This book has answered questions that nobody else will answer. More importantly, it's doing so from an unbiased opinion. Information, charts, evaluation methods, that are detailed in the book. Its like from an insider's perspective. This book is like a mentor with years of experience, showing you the ropes and holes to avoid. A must buy for anyone thinking about getting into this business. Especially a new comer to this industry.
A practical, comprehensive, highly recommended guide.......2002-09-09
Now in a newly revised and expanded edition, Coin Laundries: Road To Financial Independence by Emerson G. Higdon is a practical, comprehensive, highly recommended guide to starting and operating self-service laundries that will turn a laudable profit. From machinery issues, to dealing with governmental regulations, to meticulously computing financial data and revenue balanced against expenses, Coin Laundries is an absolute "must" for anyone seriously considering a coin-operated laundry business, as well as being a useful and basic perusal for anyone with an interest in any other coin-operated form of commerce.
This is a great book for new laundromat owners or buyers........1997-05-17
If you are thinking about buying a laundromat, you need to read this book before you buy
Customer Reviews:
Most enlightening book ever.......2004-04-22
I was 22 years old,a brand new college graduate, and an Army Officer when one of my mentors provided me his copy. I ordered my own from there. I have read it numerous times and saved money as suggested and now my net worth makes me smile every time I look at statements. I married 11 years ago and forced my wife to follow along and now she is believer. This book changed my life. I wish my parents had known to give me the information. I cringe when I think about all the money I wasted in high school / college. If you can get this book buy it! It will change your life.
Getting Out of DEBT and making your money grow........1998-03-26
Art Williams presents a clear and simple process to help you focus on putting your money in the right places. It really makes you think about what steps you can take to make your money grow; no matter how little you think you have. I've already begun to take these easy steps and many of my goals will be achieved within the next six months. This book can be read in under 90 minutes; the graphs are very helpful as well.
Book Description
A sound and sensible guide to investing profitably in real estate, H.R. Neal's popular hands-on strategy will help you establish realistic goals, uncover hidden bargain properties, negotiate great deals, manage difficult tenants and maintain a portfolio of units to give you an excellent monthly income and long-term profit.
Customer Reviews:
Good book but not great. Good for low income property owners.......2005-12-06
While this book was useful to read, it certainly could have been better. The author refers to all his experiences which are helpful, the problem is these took place in the 90's in Ohio where he purchased duplexes(2 units side by side) for $20,000. All his example's are based on purchasing properties for between $10,000 and $30,000. I don't know how many people can relate to that, I just know that I can't seeing that 3 families that I purchase here in Boston start around $450,000. Also, I would only recommend this book to those people who purchase properties in low-income neighborhoods. Don't get me wrong, some the information regarding tenant selection, eviction and other things are useful, but overall this book is not great and is not for everyone. I bought the book used for $2.50 so it was definately worth it for me and it's an easy read.
The real deal of renting small multi-unit rental properties.......2005-05-19
I found the book to be good. The author gives a lot of information you can use. As for those who complain about the low income and people with small incomes, remember all people have to live somewhere. Most people with much more money, really do not want to rent. I think it is important to provide decent housing to tenants as the author talks about in his book. The thought of making money in real estate sounds really good, but the real estate business of landlording is not for everyone. The author points this out. While I do not approve of all his methods, I strongly suggest that you the investor, take the good usable information and utilize it to your benfit.
It works!.......2003-10-30
I bought this book 3 years ago, and I have found his advice to be very accurate and valuable. I've had great results investing in the so called "low-income" areas. The key is buy to "right". I.e. at a price that will enable you to produce some good positive cash flow. I've read many other real state investments books, but none demonstrated the knowledge gained only through experience that this book is full of. I am very proud to have bought major fixer-uppers and applied the renovations recommeded to end up with an asset that really improves the neighborhood and provides low-income tenents with a clean, functional and attractive home. As the author makes it clear, it's hard work but the financial results (ROI) are much better than other more upscale investments. This book is a must read, but only for serious investors that know that something really worthwhile such as financial independece will take some serious effort.
The trials and tribulations of low income housing!!.......2003-08-27
Just a few book highlights in case you may actually be interested in something like this.
-75% of this book is dedicated to the art of evicting the poor.
-Be sure to higher an armed guard to accompany you on the first of the month as you journey thru the ghetto making collections.
-Become and expert in Welfare and Social Services so you can pawn your evictions on to the remainder of the tax payers!
And my all time favorite (I love this one!!!):
-Be kind enough to give a key to the SWAT team before they make a raid on your drug dealing tenants so as to avoid the expense of replacing a door!
Enjoy!
A very specific guide to becoming financially free........2002-02-05
I have bought quite a few books on real estate investing and this is by far the most informative and realistic book yet. I read it cover to cover in one afternoon. However it deals soly with duplex's in low income areas, which as he explains yields the highest income. I live in an economically depressed area so this book is perfect for me. It basically goes through and tells you step by step how to become financially free by investing in rental real estate. Starting by saving up $3,000 or so and getting owner financing and slowly acquiring one duplex after another until you have 20. Which after you have them paid off in 8 yrs(the loan term he suggests) you will be making over $100,000/yr. It shows you how to figure if a property is going to make money, if so how much. Where to look, how to find owner financing, etc. It's very realstic no "nothing down" hype. He gives personal examples of failures and success.
Amazon.com
Charles Schwab's Guide to Financial Independence: Simple Solutions for Busy People, by the founder of the pioneering discount brokerage firm that bears his name, is a nuts-and-bolts handbook for people who recognize the importance of investing, but know little, or nothing, about how to do it. Charts that illustrate complex financial concepts and worksheets that help readers prepare individual fiscal agendas keep the focus on making proper choices and developing workable plans. Utilizing his 40 years of financial experience, and relying completely on his admitted bias for stocks, Schwab explains the ins and outs of planning an investment, choosing the components and bracing for taxes, putting the plan into action, and preparing for future developments.
Book Description
When it comes to investing, most of us know where we'd like to be but not how to get there. We'd like nothing better than to sit down with an experienced professional who can guide us through the bewildering array of choices. Reading this easy-to-understand book is like having the founder and CEO of a $350 billion brokerage firm sit at your kitchen table and distill his 40-plus years of accumulated wisdom in a one-on-one session with you. You will learn how to:
Define and set investment goals
Prepare an investment plan, put the plan into action, and update the plan regularly
Plan for your children's education or your own retirement
Cope effectively with the ups and downs of the market
Make sure you'll have enough for a comfortable retirement
Customer Reviews:
maybe more stars, maybe less but I can't really say...........2002-03-23
Being one of the "super novice beginners" targeted by the book (read other reviews) I found it very interesting and enlightening.
What got me started was kiyosaki's rich dad (worth reading with reservations) but this was a very good second book to read. Since then I've been reading/researching (7 books, 4 magazines, 3 weeks) before I pull the trigger to actually dropping cash.
I'm not sure what an experienced investor would say but what the hell, from one beginner to the next, read it.
"Fire and forget" method for investing.......2001-08-23
If you want to secure your financial future with minimum hassle, don't want to become a stock-market expert, or spend any more time and money on the Wall Street stuff than is absolutely necessary, then this is the book for you. It tells you a very simple, but extremely efficient method for investing your money. It also tells you why and how to do it.
It does not cover everything there is to investing, hey it doesn't even cover 10% about it. But it covers enough to have a "fire and forget" way with investments. You can trust that the money you invest with this advice will keep up with the better half of the smart investors. And you can go on living and enjoying your life without too many financial worries.
An excellent book for the target audience.
Worth every penny and much, much more.......2001-04-26
Buy this book. I can't say enough good things about it. First, the book is extremely well written, and targets a specific audience, that many of us are in.
If you are not professional investor, and want to learn more about the basics of investing and about the different products out there, then read this book.
Charles Schwab takes your through a good squence of explaining different investment philosophies, tools, tricks, etc. He proves that you don't have to beat the market to make money, you just have to match it. Now, I have heard this before in other books, but the overall presentation and support for this, is much well represented in this book.
If you are starting out, or attempting to re-organize your finances, before you get a money manager or financial advisor, get this book. It will definitely save and make you money. You will learn how to invest within your comfort level, and by the end of the book, the stock market and investing will be demystified.
You will regret not reading this book. I think this would also make a good gift.
A Simple Introduction to Investing in Financial Assets.......2001-02-16
This book is an almost ideal introduction for the person who doesn't want to think very much about investments, but would like do better than with a certificate of deposit in a bank.
The book favors financial assets (not too surprising, given that Mr. Schwab's company is the leading discount broker), but he offers a number of time- and trouble-saving reasons for that. The book is supported by a number of quantitative analyses, questionnaires, model portfolios, and personal examples from Mr. and Mrs. Schwab's experience. The book is well written and clear.
The book is in three major parts. In part one, he argues in favor of why the growth potential of stocks gives them long-term advantages over many other asset classes, and takes you into setting your goals. In part two, he explores which types of investments will work best for what you want to accomplish. Using your goals, he helps you adapt the assets you buy to fit your circumstances. In part three, he describes how to get started and maintain your strategy.
The best part of the book comes in the way it uses questionnaires to help you develop your financial goals, risk preferences, and financial time frame. Then the book gives you financial portfolios (based on historical studies described in Stocks for the Long Run) to match up with your situation. You could easily spend quite a bit of money with a financial advisor to do this for you without getting a much different result.
I also liked the way the book directly takes on the problem of market fluctuations and the emotional tendency to buy high and sell low into account. For those with shorter timeframes and lower risk tolerances, Mr. Schwab recommends buffering the fluctuations by having an asset allocation into less volatile securities (although those that will earn lower returns).
But still, the book could use more advice on how to overcome emotion. Telling you to "learn to keep a tight rein on your emotions" will not be enough for many people. This problem will be compounded by Mr. Schwab's insistence that "timing is a very minor player in the larger scheme of investing." Tell yourself that if you had just bought a lot of technology and dot com stocks in March 2000 and held them until now.
I think that timing (even if you are going to buy and hold indexed mutual funds -- something that is highly recommended here) is important. If you buy into an index (or stocks or other financial assets) at a relatively low price, you will spend less time being upset about the volatility of your investment. Since the average asset class is highly volatile on an annual basis, you can at least try to get in near the low of the last 12 months.
That will have a big impact on your psychology as you get started. As Mr. Schwab points out, the biggest mistake is not investing at all. Concern about lack of time and feeling intimidated about making a mistake keep people from getting started. Setbacks cause people to retreat from investing. He encourages a minimum five-year buy-and-hold period to allow growth to bail out any near-term losses.
I think that Mr. Schwab writes off investing in your own business or in real estate much too quickly. My suggestion is that you read "Rich Dad, Poor Dad" to get the opposite point of view on those investment classes.
For a better look at using indexed mutual funds, I recommend John Bogle's Common Sense About Mutual Funds, which is more thorough than this book. You may decide to avoid picking individual stocks when you know more about the track record of trying to find mutual fund managers and stocks that outperform the indices.
A good lesson from this book is that we must pay attention to important subjects, or face the consequences. Where else in your life are you paying too little attention? How can you get the information to overcome your stalled thinking and behavior?
May your life be filled with riches from the attention you place on making good decisions!
A superb introduction to investing.......2000-08-09
Schwab, of discount brokerage fame, has written an easy to read introductory guide to savings and investment. None of his material is unique or new - it is similar to that presented by Suzie Orman and the Dummies guides. Nonetheless, Schwab's book is probably better for new investors because he uses plenty of charts, graphs and personal examples, and presents it all in a very user-friendly format. The theme is basically not to jump in with both feet, but to do as much as you can. There are a few gratuitous plugs for his brokerage firm, but the book is definitely not one big advertisement. This book is well recommended for first-time investors and recent college graduates about to start their first job (good graduation gift). It is not recommended for people who are already in the stock market or who already own mutual funds and regularly invest - you already know what is in this book.
Book Description
45 million Americans participate in company sponsored 401(k) plans. These workers are diligently saving and investing for their anticipated retirements as the country quietly moves away from the old world of comprehensive government guardianship to a more modern notion of “ownership society.” Responsibility for financial security in retirement is shifting subtly away from the collective and toward the individual.
This impending “ownership society,” like any new frontier, is rife with meaningful opportunities as well as pronounced risk. Redistributing wealth back to the individual will unquestionably produce mixed results. Some workers will very likely experience much prosperity while others may get left behind as they encounter unforeseen hazards along the way. One factor, however, appears indisputably certain: employee education will emerge as a major determinant as to whether workers prevail or fail in their efforts to become financially secure in retirement.
Customer Reviews:
Wish I'd had this 25 years ago........2007-03-16
Amazingly, this in an entertaining book about personal financial matters! The illustrative stories about Ben Franklin, Warren Buffett and others were an inspiration to get my financial affairs in order and plan for the future. I've already sent a copy to my son, who's just starting his career, so he can see how possible it is to be financially independent by retirement. I recommend this book to everyone, even those in the latter years of the working life.
Great Book, Highly Recommended.......2006-11-14
I don't know much about retirement and managing finances, but this book makes it so easy! It reads like it was written for the common man/woman, yet it gives expert advice. It helps you make clear, realistic goals that anyone can achieve. I only wish that this book would have came out sooner. If you don't know much about financing and retirement, or even if you do, this is simply the book for you. I've recommended it to all of my associates. Great book!!!
The best guide book to retirement planning I've found.......2006-10-11
As a self-employed business owner, I found The Retirement Decision
immensely helpful. Finally, a book that equips those who save seriously
for retirement with real direction. The charts and tables are
incredibly easy to use. All I had to do was fill in my age, income, and
current savings. I now know how much I'll need for retirement and what
I must save each month to reach my goal. I never dreamed it could be so
clear-cut and simple.
I've already made adjustments to my retirement investment plans.
Mike Rose the Retirement Decision - GREAT BOOK MUST READ.......2006-10-10
THOUGHT BOOK WAS EXCELLENT. REALLY THOUGHT THE BOOK WAS WRITTEN ABOUT ME AND MY LIFE. MUST READ FOR ANYONE THINKING OF RETIREING STARTING WITH YOUR CHILDREN. THEY NEED TO GET THESE CONCEPTS DOWN IN OREDER TO BE ABLE TO RETIRE. SHOULD BE REQUIRED READING IN HIGH SCHOOL AND COLLEGE.
AS THE PRESIDENT OF A EXECUTIVE SEARCH FIRM I AM SENDING COPIES TO ALL OUR BEST CLIENTS. I HOPE MIKE WRITES A FOLLOW-UP BOOK BECAUSE I REALLY APPRECIATED HIS DIRECT NATURE AND INFORMATION THAT WILL HELP ME AND MY CLIENTS FUTURE.
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