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A Beginners Guide to Making a Million
This book is for those who are just starting their journey into investing and want to make a million.
A Beginners Guide to Making a Million will teach you how to make a million dollars even if you know nothing about investing.
There are 16 Golden Money Secrets to becoming a millionaire and you will learn them here.
Along with these 16 Money Secrets you will also learn 8 Lessons that will get you started on the road to riches:
Lesson 1: How to grow a mighty oak from an acorn -The Miracle of compounding
Lesson 2: Knowing what Seeds to Plant - The Asset Classes
Lesson 3: How do you feel about tomatoes? - Know yourself and the risks
Lesson 4: Sipping pina colada's under a palm tree - Build Your Retirement Plan
Lesson 5: Your Broker shouldn't make you broke - Opening an investment account
Lesson 6: Buying good quality Seeds - Intelligent investing for the smart people
Lesson 7: Don't keep all your eggs in one basket - Asset allocation and risk management
Lesson 8: Enjoying your money - How to spend it and have fun safely
A Beginners Guide to Making a Million will teach you how to make a million dollars even if you know nothing about investing.
There are 16 Golden Money Secrets to becoming a millionaire and you will learn them here.
Along with these 16 Money Secrets you will also learn 8 Lessons that will get you started on the road to riches:
Lesson 1: How to grow a mighty oak from an acorn -The Miracle of compounding
Lesson 2: Knowing what Seeds to Plant - The Asset Classes
Lesson 3: How do you feel about tomatoes? - Know yourself and the risks
Lesson 4: Sipping pina colada's under a palm tree - Build Your Retirement Plan
Lesson 5: Your Broker shouldn't make you broke - Opening an investment account
Lesson 6: Buying good quality Seeds - Intelligent investing for the smart people
Lesson 7: Don't keep all your eggs in one basket - Asset allocation and risk management
Lesson 8: Enjoying your money - How to spend it and have fun safely
67 pages, Paperback
First published January 12, 2013
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January 16, 2017
I don't usually put a lot of stock in these kinds of books, but they occasionally have some tip or information that is helpful, so I continue to read them. While the idea is along the typical tips you would find just about anywhere, the numbers are very strange. The whole premise on the book is making a million dollars before you retire. While that is all well and good, you probably aren't going to get anywhere near there with this. The tips themselves are not bad, but with the figures that are in the book, you are giving people expectations that will likely not be met.
The entire book runs off a base interest rate for your bank account at 10%. I can't find a single saving account [money market, CD, retirement, etc.] with that kind of interest. The average seems to be about 0.5%, I found a savings with 0.9%, and a CD with 10 years investment that was 2.1%. So having the book saying it's easy if you just put in $xx.xx a month you will have the million by retirement isn't realistic. The second half of the book is investing with stocks, but that also runs off 10% interest or more.
It would definitely be nice to get 10% interest, but it just isn't going to happen. The thing is that this book was written in 2013, which was around the time I was making my first account to save for retirement, and the rates were even lower then. So I really have no idea where they got 10%.
The entire book runs off a base interest rate for your bank account at 10%. I can't find a single saving account [money market, CD, retirement, etc.] with that kind of interest. The average seems to be about 0.5%, I found a savings with 0.9%, and a CD with 10 years investment that was 2.1%. So having the book saying it's easy if you just put in $xx.xx a month you will have the million by retirement isn't realistic. The second half of the book is investing with stocks, but that also runs off 10% interest or more.
It would definitely be nice to get 10% interest, but it just isn't going to happen. The thing is that this book was written in 2013, which was around the time I was making my first account to save for retirement, and the rates were even lower then. So I really have no idea where they got 10%.
Displaying 1 of 1 review