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