How to Build Wealth
Product Description
How to Build Wealth will provide you with the pattern for wealth building. The methodical and cookie-cutter approach contained in this book will simplify your personal finances and give you control over your money. How to Build Wealth explains how to control expenses and how to realize the greatest profit on all of your transactions, how to protect what you already have, and how to prepare to make even more. The book provides a practical plan for build… More >>
5 Responses to “How to Build Wealth”
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I was looking for a practical book about how to build wealth by buying, selling and accumulating assets. That’s not what this book is about.
This book appears to be written for the person seeking the basics in understanding the relationship between work, income, saving and personal behavior. If you have already established such personal standards and discipline, then this book may be too basic.
Rating: 1 / 5
This book states basic common sense facts about money and how to gain it in a light-hearted easy to read format. I look forward to the subsequent books.
Rating: 5 / 5
This book is an easy read and it gives the reader many tools for wealth building. The book starts out by assuming nothing but applies to everyone. Even though the book is practical and you can take away things to do from almost every page, it is also a very motivational read. This book fills in the holes that most other financial self-help books leave out like behavior, discipline and how your emotions ruin your efforts.
Rating: 5 / 5
This book explains wealth accumulation in a manner that is easy to read, understand and apply. The main point is “here is what it takes to build wealth” and the rest of the book explains “how” to go about it, with many real world examples.
What makes this book stand apart is that it explains how to “think” and “feel” about assets and wealth building. It explains concepts like “cost-effective” and how to seek such things out. It explains why certain assets are more appropriate for people at certain points in their financial growth than for others.
Most significant is the theme of relationships. Whereas many wealth-building-type books explain assets and what they are, this book encourages the reader to recognize what assets they have, how to capitalize on their overall ownership of assets to build more wealth, and how to identify the assets that are the “next in line” to pursue. To illustrate this logic, an example.
With a job, which is an asset, a person might have the money to gain more education, another asset. With the education, more money can be earned and that money could be saved to purchase a home. A home is an asset that can protect the owner from inflation and increases in rent. These cost savings, along with the job, will give a person more money to invest in another asset. Another asset might be further education. With the new knowledge from further education, the person will eventually have more earning power and the person can pay down their home faster. In paying down the home faster, capital will be available for investment in other assets. If the person chooses to sell their home to get the capital, they might buy a duplex and live in one side while renting the other. To further maximize the profitability of a person’s assets, the book would recommend that the person buy their new duplex as close to where they work as possible so that they save time commuting and save the costs related to the commute, such as fuel costs and automobile wear. With the time savings from the location of the person’s new, more profitable, home-in relation to their place of employment-the person would have the time and money to devote to acquiring the knowledge of how to invest in another asset such as stocks, or to do a better job with their real estate and acquire more. With a reduced mortgage payment after the rental income from their duplex is considered, they would have more of their own salary to devote to paying down their debt, acquiring additional education, buying stocks, buying more real estate, opening their own business, or fill in the blank. Even though the author expresses a fondness for real estate and education, the book is not focused on one particular asset, but rather what to do with assets and how to pursue more.
Rating: 5 / 5
I bought this book for a friend but I decided to read it. It is a very good book and it is easy to understand. What I liked most about this book was that it did not tell me that I had to go out and buy real estate and get creative with investments to build wealth. This book did not tell me that I was doomed to a life of mediocrity if I was not planning to quit my job in five years.
This book laid out a plan of spending less than you earn and putting the money that you make into assets that help you to make more money. It was about paying down debts, controlling your spending, picking the assets that work for you and getting a grip on the emotional decisions that ruin everything else. It showed how decisions can make you build wealth faster or slower and it showed how to control spending and to buy the right kinds of assets for your personality and your desire for risk and reward.
I was kind of unsure whether or not I wanted to buy this book because it seemed like it would be a book dwelling on financial planning or something like investing in real estate. I’m not interested in flipping property or being a landlord so I was surpised that the author mentioned different kinds of assets and showed how it is that you start to invest when the only thing that you know is how to work for a paycheck.
Most financial books that I have read were either all about investing or mostly targeted to financial planning and 401(k) and mutual fund concerns for retirement. This book was different because it really covered everything that a person needs to be able to generate a higher income and to put that income to work for themselves.
It was a good refresher for the things that I already did right and it taught me a lot of new methods for making the most of my money and putting it only to the things that get me what I want. There were not any kind of “you must save 10% of your income if you want to succeed” type of statements either. It just teaches a practical approach to living, spending, learning, and investing for the future.
Rating: 5 / 5