Book Review: The Millionaire Maker by Loral Lengemeier

The Millionaire Maker by Loral Lengemeier - 2.0 STARS
Personal Finance, Entrepreneurship, Investing


Basically, what Ms.Lengemeier is doing with this book is providing some basics (very elementary basics) on how to become financially independent.

I would place this book in the "business self help" or "business motivational" categories. I know they don't exist in traditional book stores, but hey that's where this book belongs. Right there beside Robert Kiyosaki, Anthony Robbins and Donald Trump.

Now for a brief review of this product. It isn't bad, I read it from cover to cover and even tried to do some of the activities outlined throughout the book. This book focuses on the merits of building a "cash-machine" (which Loral writes about in a later book in greater detail), and the importance of employing experts to assist along the way. She truly believes that no-one becomes a millionaire "alone", in otherwords she does not believe in the so called "self made millionaire". Loral's focus with this book is to show an overview of her successful coaching program: Live Out Loud. Her strategies include: starting a cash-machine (even if that requires qutting your job), investing in rental real estate, investing profits in more cash producing assets and creating a maze of tax-reducing business entities.

I think her system is sound and the formula would work. My main issue that I had with her throughout this book was her constant pitching of her own coaching programs and other pricey services offered by Live Out Loud.

All this being said, if you follow her advice religiously, and hopefully have a small retirement account to jumpstart your efforts... her system can make you financially independent. I did give this 2.0 stars because I felt that the pitching and the overly motivational and less technical nature of it was less than useful and a little insulting to the reader.

I could be completey crazy, because 93 people have given this an average score of 4.0 stars at Amazon.com (at the time of this writing). Check it out:
The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do

If you are looking for a good beginner text on investing, business and entrepreneurship I'd still stick with Rich Dad, Poor Dad by Robert Kiyosaki over this one. You can get Rich Dad, Poor Dad here:
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

Thanks for reading and please if you don't agree with my review... post a comment! Gotta love free speech!

Cheers,
R

Currently Reading: January 2009

Here's what I am currently reading (since I have an issue and can't read only once thing at a time):

The Wolf of Wall Street by Jordon Belfort

How to Get Rich by Felix Dennis

Hedge Hunters by Katherine Burton

Cheers,
R

My next couple in the queue:
The Snowball by Alice Schroeder
Do-It-Yourself Hedge Funds by Wayne Weddington

Book Review: The Smart Money by Michael Konik

The Smart Money by Michael Konik - 3.5 STARS
Gambling, Economics


This book in particular I "read" in audiobook format. I listened to it when I was a District Manager working in Ontario. I had 9 locations, spread out over 600kms (375miles). At this time in my life I chose the audio format over the paper format on many occasions. If you too decide to use this method of delivery for your next piece of literature, I insist you only choose books you can get "unabridged". This term means that the book is read in its entirety, and does not have anything ommited or "abridged".

This book is written basically as an autobiography. It profiles Michael's time working for "The Brain-Trust", an organized sports-gambling operation out of Las Vegas.

Michael was a gambling journalist, who landed an interview with Brain Trust head Rick "Big Daddy" Matthews. Well, before this interview the largest bet Mr. Konik had ever placed was $200. After this meeting, he began working with much, much more.

This book is the most in depth, behind the scenes book I've come across on the subjects of sports betting, sports books and organized gambling.

This is a fun read from front to back. It won't change your life... unless you run out and hook up with a few MIT Math, Stats and computer science grads and start your own "Brain Trust". Hey, that's not a bad idea! Any MIT grads out there interested in a project/making a pile of cash?

Get it here:
The Smart Money: How the World's Best Sports Bettors Beat the Bookies Out of Millions

Enjoy,
R

Book Review: The Coming Economic Collapse by Stephen Leeb

The Coming Economic Collapse by Stephen Leeb - 4.0 STARS
Economics, Investing


Stephen Leeb has some VERY thought provoking and insightful points to make on the state of the economy and especially the price of oil.

I have been recommending this book since it came out almost 2 years ago. This is a fantastic book and a great quick read if you enjoy reading about the financial markets, oil, commodities, politics or general business.

The interesting thing is how much of what Stephen has to say has already come true... Also, it is interesting to see how accurate he will turn out to be, considering he is predicting oil at $200+ per barrel.

Get it here:
The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel

What do you think? Is oil really going to go through the roof? Or, is it all bullshit and there is more than enough oil to last until... the day we blow ourselves up... Or, the oceans rise and all of us drown except those sky bunnies in Colorado and Switzerland?

R

Book Review: Think and Grow Rich by Napoleon Hill

Think and Grow Rich by Napoleon Hill - 4.5 STARS
Personal Finance, Self Help


Hands down on of the best books ever written on the subject of wealth and success. It's a classic!

This book is pretty basic, pretty simple, definitely not technical, but, it is very good. This is one of the first books that comes to mind when I think of what got me started on my journey of personal discovery and what started my interest in finance, investing and business in general.

I can't even remember when I first read this book. It was so long ago now that I can hardly remember.

If you have read any books in the Self Help or Success genres you have almost certainly heard of this book and have probably read about some of the principles. But, let me tell you... you must read this book, whether you are just starting out or are a seasoned vet... this is a must.

I can't say anything else about it, except READ IT! This is a goddamn great piece and something that I hope you have already read and if not that you will beg, borrow or steal it in the near future.

And, if you decide that buying it is a better bet... track it down here:
Think and Grow Rich: The Landmark Bestseller--Now Revised and Updated for the 21st Century

Go NOW and read this book... I'm sure your local library has it and if not... it is only $7.77 at Amazon.com (at least it was when this review was posted).

R

Book Review: Rich Dad, Poor Dad by Robert Kiyosaki

Book Review: Rich Dad, Poor Dad by Robert Kiyosaki - 3.0 STARS
Personal Finance, Investing, Entrepreneurship


Well, where do I start?

This book is on so many people's "must read", "top 25", etc., etc. lists that I'm sure all of you have heard at least one friend, family member, personal finance guru, TV personality or some other expert tell you that you "MUST" read this book. Well, what am I going to say? Well... I can't say that I haven't recommended that people read this, and I definitely can't say that is is without merit. What I can say is... if you have read many Personal Finance, Investing, Success, Self Help, Entrepreneurship and Business books then I'd steer clear of this one. This isn't in anyway implying that it is bad... I'm just saying that it is more motivational than it is practical or technical.

On the other hand, just to make myself as hypocritical as possible. This book is a MUST READ! Why do I move on to say this? Well, if you are just getting into reading Personal Finance books then this is a great place to start. It will broaden your thinking, provide motivation and get you excited about further expanding your knowledge on the subject. As you can see, I gave this book 3.5 stars... not spectacular, but by no means poor either. This book is still to this day one of the books I would suggest as a 1st or 2nd read for anyone just beginning to read Personal Finance books.

Get your copy at your local library or here at Amazon.com
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

Happy Reading!
R

Book Review: The Wealthy Barber by David Chilton

The Wealthy Barber by David Chilton - 4.0 STARS
Personal Finance


I finally read this book a few years back. For me I can't say that I learned too much new information, but in no way does that discount the validity of it.

I personally believe that this book is a MUST READ for anyone interested in the Personal Finance or Success genres. I think that this should be one of the first 3-5 books one reads on personal finance and investing.

I am so tempted to outline a bit of David's advice here, but it really wouldn't be fair to you if you decide to read it. But, since I really do enjoy ruining your fun and being a bit of a spoiler... it has to do with saving and investing! I know... you already knew that. But, believe me, whether you have read 100 Personal Finance books (though, you would probably have already read this one) or this is your very first one... I can guarantee that you will feel it was worth your time.

This book isn't long, and it isn't technical, but it really is worth a few hours of your time! If you haven't read this... I truly recommend it!

Let me know what you think!

Get your copy here at Amazon.com
The Wealthy Barber, Updated 3rd Edition: Everyone's Commonsense Guide to Becoming Financially Independent

Enjoy!
R

Welcome

Hi,

So, welcome to my Brand New Blog!

To be honest at this point, I'm not 100% sure what subjects I'm going to be covering, but here's a few ideas I have: book, website and product reviews, my thoughts on money, investing, politics and well... whatever else I feel like ranting about.

Without further ado... let's get going with a book review or two!

Cheers,
R