Rich Like Them by Ryan D'Agostine

Rich Like Them: My Door-to-Door Search for the Secrets of Wealth in America's Richest Neighborhoods by Ryan D'Agostino

• Hardcover: 256 pages
• Publisher: Little, Brown and Company; 1 edition (January 5, 2009)
• Language: English
• ISBN-10: 0316021466
• ASIN: B003GAN4AE

From Publishers Weekly

While academics frequently conduct research to try to unlock the secrets of garnering great wealth, Esquire editor D'Agostino took a more direct—and more entertaining—route: he picked the 20 wealthiest neighborhoods in America and went door to door, garnering interviews with 50 very wealthy, very different individuals—including doctors, art dealers, real estate moguls and one shrimp-peeling–machine manufacturer. Many of the author's subjects confessed that they have been less motivated by a drive for wealth than a desire for a certain lifestyle, an obsession with a certain field and a need for independence, and that focus, passion and street smarts have contributed more to their success than luck or any formal training. Several of his interviewees leveraged their success through reinvestment, often in real estate, raising the question of how well their net worths have survived in the current credit crunch. While D'Agostino freely admits that his sample is far from scientific, weighted heavily to friendly people who happened to be at home when he went calling, his debut is witty and inspiring. (Jan.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist

Think door-to-door journalist who, out of curiosity and a desire to uncover so-called fail-safe secrets, knocks on approximately 200 doors in 20 of the wealthiest neighborhoods in the U.S. What’s even more amazing is that 50 responded cordially in face-to-face meetings with this Esquire magazine reporter. Armed with demographic information, D’Agostino trains, planes, and autos, often in Motel 6 and other inexpensive accommodations, from coast to coast to get the story. He backs up his primary interviews with solid psychological research, such as the study concluding that “persistence in pursuit of knowledge leads to success.” Although no one particularly famous is featured, all conversations help the author formulate five major (and many minor) observations:
(1) to connect the dots that lead to wealth, first you have to see the dots;
(2) luck doesn’t exist;
(3) you need an intensity that will scare people;
(4) the myth of risk—which is a bet you’ve tried to rig; and
(5) never let pride get in the way of profit; humility is the secret ingredient. Dialogue is sharp, bright, and engaging. --Barbara Jacobs

Review

"Rich Like Them not only proves wealth is within the grasp of us all, it also provides a blueprint for how you can make it a reality. It's a fun and potentially profitable read."-Lois P. Frankel, Ph.D., author ofNice Girls Don't Get Rich and Nice Girls Don't Get the Corner Office

"Pay close enough attention to the wisdom in Ryan D'Agostino's fun, fast-paced book and the door he knocks on next time around may be yours."-Jean Chatzky, Today Show financial editor and author of Make Money, Not Excuses

"First came A Random Walk Down Wall Street, in which an Ivy League economist explained how the stock market works. Then came The Millionaire Next Door, which drew on in-depth research to explain how regular people accumulate wealth. Now comes Rich Like Them, in which Ryan D'Agostino takes a random walk among the millionaires that inhabit America's wealthiest neighborhoods. These ultra-achievers are surprisingly generous with their stories, their advice, and the secrets of their success. A hard book to put down-filled with ideas that you can put to work."--William C. Taylor, founding editor of Fast Company and coauthor of Mavericks at Work

"There are many wonderful and surprising things about Ryan D'Agostino's book. The first is that he didn't get socked in the face for knocking on strangers' doors and asking them about their private finances. The second is just how much wisdom-about both money and life in general-these people gave him. This is an inspiring read."-A. J. Jacobs, author of The Year of Living Biblically and The Know-It-All

Product Description

Ryan D'Agostino, former senior editor at Money, wanted to know how the wealthiest in America got that way. So he asked. Knocking on 500 doors in some of the most affluent zip codes in America, D'Agostino met with men and women who welcomed him in and shared their most difficult financial decisions, toughest setbacks, greatest strategies, most triumphant moments, and deepest insights. In RICH LIKE THEM, he weaves together what he learned and offers maxims for achieving wealth, such as "Never Let Pride Get in the Way of Profit," and "When you fail miserably, be thankful." Filled with inspiring stories and straight-up advice, RICH LIKE THEMis a lively and practical get-rich guide that any reader can follow.

About the Author

Ryan D'Agostino is Articles Editor at Esquire magazine and former Senior Editor at Money magazine. His writing has also appeared in The New Yorker, New York, the Wall Street Journal, Ski, the New York Times, and Budget Living, among others.

Firnando Chau Review

Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money by Robert Kiyosaki

Paperback: 197 pages
Publisher: Business Plus (March 26, 2008)
Language: English
ISBN-10: 0446509361
ISBN-13: 978-0446509367

Why We Want You to be Rich by Donald J. Trump & Robert T. Kiyosaki

Why We Want You to be Rich by Donald J. Trump with Meredith McIver & Robert T. Kiyosaki with Sharon Lechter

Firnando Chau Review

• Hardcover: 320 pages
• Publisher: Rich Press (October 9, 2006)
• Language: English
• ISBN-10: 1933914025

From Publishers Weekly

The wildly financially successful authors of this book state, early on, that a reader will not find in its pages specific advice on how to make or invest money. It's more a book of philosophy (note the "why" in the title), and if it's not exactly Kierkegaardian in scope or language, this collaboration of real estate magnate and rags-to-riches financial guru manages to entertain and to inform. Written in bite-size chunks and adorned with quotes (some from the authors' previous works or speeches) and graphs, it explains why some people get rich and others... well, don't. Some tales are shopworn: the many references to Warren Buffett are tales well told, for example, but what works best are the aphorisms and the personality type descriptions within the "CASHFLOW Quadrant"—no matter what you do for a living, in your heart are you an E, an S, a B or an I? (Key: E=employee; B=big business owner; S=self-employed, specialist or small business owner; I=investor.) But Trump and Kiyosaki (Rich Dad, Poor Dad) together are a strangely winning combination (they've published this book jointly and privately—and a portion of its profits will be donated to charity). Bottom line: these Messrs. Money-bags know their business. We're talking billionaires here, and really, how can you argue with success? (Oct.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved

Product Description

Donald Trump and Robert Kiyosaki are both concerned. Their concern is that the rich are getting richer but America is getting poorer. Like the polar ice caps, the middle class is disappearing. America is becoming a two-class society.Soon you will be either rich or poor. Donald and Robert want you to be rich.
The world is facing many challenges and one of them is financial. The entitlement mentality is epidemic, creating people who expect their countries, employers, or families to take care of them. Trump and Kiyosaki, both successful businessmen, are natural teachers who share a passion for education. They have joined forces to address these challenges, because they believe you cannot solve money problems with money. You can only solve money problems with financial education. Trump and Kiyosaki want to teach you to be rich. Why We Want You To Be Rich was written for you.

About the Author

Donald J. Trump is the very definition of the American success story. A graduate of the Wharton School of Finance, his real estate developments are the most prestigious of addresses nationally and internationally. As the Emmy-nominated star and co-producer of the reality television hit show, The Apprentice, and author of seven bestsellers, he is truly a media giant.

Robert Kiyosaki, author of Rich Dad Poor Dad, the international runaway bestseller, is an investor, entrepreneur specializing in mining and real estate, as well as an educator. Rich Dad Poor Dad, published in 1997, has held a top spot on the famed New York Times list for nearly six years. Translated into 46 languages and available in 97 countries, the Rich Dadseries has sold over 26 million copies worldwide and has dominated bestsellers lists across Asia, Australia, South America, Mexico, South Africa, and Europe.

John Dossett has starred on Broadway in The Constant Wife, Democracy, Gypsy (Tony nominee), and Ragtime. Off-Broadway, he has appeared in Dinner at Eight, Hello Again, and on television in Law & Order and HBO's John Adams. John has read extensively for Simon & Schuster Audio. 

How Much is Enough? By Arun Abey & Andrew Ford

How Much is Enough? By Arun Abey & Andrew Ford

• Hardcover: 270 pages
• Publisher: Greenleaf Book Group; 2 edition (May 1, 2009)
• Language: English
• ISBN-10: 1929774834
• ISBN-13: 978-1929774838

http://www.howmuchisenough.net/

Review

'Powerful and thought provoking . . . will increase your life balance and bank balance.' --Harold Evensky, certified financial planner, author of Wealth Management, adjunct professor of financial planning at Texas Tech University

Product Description

How can millions of readers come to grips with their financial situation at a time when nothing seems to be enough? Arun Abey and Andrew Ford believe that the answer lies beyond the balance sheet in the heart and spirit of the individual investor. Having advised investors around the globe, the authors dig deep into the latest economic and social research as they bridge the worlds of financial security and personal well-being. Their book guides readers through a holistic approach to financial planning, one based on the fact that money is only one element in the overall chemistry of a happy life. Readers will learn how to manage their investment portfolios in coordination with their aspirations.Brilliantly combining economics and social thought, How Much Is Enough promises to revolutionize the investment world. Complete with succinct economic advice as well as stories from those who have found peace beyond their bank accounts, the book gives readers the confidence to pursue their own paths toward a secure and fulfilling future. Find happiness and wealth will follow.

About the Author

Arun Abey cofounded the international lifestyle financial-planning firm, ipac securities, and currently serves as its executive chairman, as well as head of strategy for AXA Asia Pacific. Arun graduated with first class honors in arts and economics degrees from the Australian National University and is a Fellow of the Financial Services Institute of Australia.Andrew Ford is a marketing and communications expert who has held senior roles in the financial services and publishing industries in Australia and the UK. Andrew earned a bachelor of economics degree from the University of Sydney and currently serves as national communications manager for ipac securities.

How Come That Idiot's Rich and I'm Not? by Robert Shemin

How Come That Idiot's Rich and I'm Not? - Hardcover (Apr. 7, 2009) by Robert Shemin

Paperback: 256 pages
Publisher: Crown Business (April 7, 2009)
Language: English
ISBN-10: 0307395081
ISBN-13: 978-0307395085
Product Dimensions: 8 x 5


About the Book


Have you ever wondered why some people attract wealth while others stay financially trapped? The key is learning wealth-friendly, upside-down thinking. 


In this New York Times, Wall Street Journal, and USA Today bestseller, Robert Shemin, one-time "idiot" and currently a multimillionaire, illustrates in a witty way how going against the grain is, in fact, the surest way to gain. Learn how to:


• set only one powerful success goal—and make it a big one
• play while your money goes to work
• stop building someone else’s business and start building your own
• live and think like a millionaire while you’re becoming one
• use the power and smarts of other Rich Idiots to help you join the Rich Idiot Club


Spend just a few pages with Robert and his Rich Idiot friends and you’ll be convinced that “if they could do it, I can do it.”


Other Reviews


“A breath of fresh air…Robert Shemin brings to this book a powerful  personal story that commands attention.  He was the class cut-up,  the guy who never fit in exactly, an undiagnosed dyslexic who out  of survival instinct simply decided to make up his own rules — and,  sure enough, riches followed.  Shemin’s key insight is that cultural indoctrination robs most of us of the courage to blaze new  paths — in fact, breeds a ‘play it safe’ follow-the-leader mentality that can be a financial death sentence.  This book is loaded with perspective-altering tips on how to make money outside the rat-race paradigm and leverage the power of relationships in ways no one ever talks about.  If you take to heart the lessons in this book, you will find the abundance you’re searching for.”
—Anthony Robbins, New York Times bestselling author of Awaken the Giant Within, Unlimited Power and Giant Steps


“This book shows the average person not only how to get rich, but create, connect and contribute greatly.  Open the door to a better future now by absorbing what Shemin has to say.” 
—Mark Victor Hansen, co-creator, #1 New York Times best selling series Chicken Soup for the Soul® ; co-author, Cracking The Millionaire Code and The One-Minute Millionaire


“If you’ve spent your life doing ‘all the right things’ but still feel like you’re running in place financially, do yourself a favor and buy this book.”
—T. Harv Eker,  author of #1 New York Times Bestseller, Secrets of the Millionaire Mind


“Filled with common sense . . . shows that a late-blooming entrepreneur can strike it rich with sound business principles and a flair for taking risks.” 
—David Bach, #1 New York Times bestselling author of The Automatic Millionare and Start Late, Finish Rich


About the Author


ROBERT SHEMIN has worked with high-net-worth individuals for Goldman Sachs, helped create four companies, and has been involved in more than one thousand real-estate transactions.

The Millionaire Mind by Thomas J Stanley

• Paperback: 416 pages
• Publisher: Andrews McMeel Publishing; Original edition (August 2, 2001)
• Language: English
• ISBN-10: 0740718584
• ISBN-13: 978-0740718588

Amazon.com Review

What do you do after you've written the No. 1 bestseller The Millionaire Next Door? Survey 1,371 more millionaires and write The Millionaire Mind. Dr. Stanley's extremely timely tome is a mixture of entertaining elements. It resembles Regis Philbin's hit show (and CD-ROM game) Who Wants to Be a Millionaire, only you have to pose real-life questions, instead of quizzing about trivia. Are you a gambling, divorce-prone, conspicuously consuming "Income-Statement Affluent" Jacuzzi fool soon to be parted from his or her money, or a frugal, loyal, resole your shoes and buy your own groceries type like one of Stanley's "Balance-Sheet Affluent" millionaires? "Cheap dates," millionaires are 4.9 times likelier to play with their grandkids than shop at Brooks Brothers. "If you asked the average American what it takes to be a millionaire," he writes, "they'd probably cite a number of predictable factors: inheritance, luck, stock market investments.... Topping his list would be a high IQ, high SAT scores and gradepoint average, along with attendance at a top college." No way, says Stanley, backing it up with data he compiled with help from the University of Georgia and Harvard geodemographer Jon Robbin. Robbin may wish he'd majored in socializing at L.S.U., instead, because the numbers show the average millionaire had a lowly 2.92 GPA, SAT scores between 1100 and 1190, and teachers who told them they were mediocre students but personable people. "Discipline 101 and Tenacity 102" made them rich. Stanley got straight C's in English and writing, but he had money-minded drive. He urges you to pattern your life according to Yale professor Robert Sternberg's Successful Intelligence, because Stanley's statistics bear out Sternberg's theories on what makes minds succeed--and it ain't IQ.Besides offering insights into millionaires' pinchpenny ways, pleasing quips ("big brain, no bucks"), and 46 statistical charts with catchy titles, Stanley's book booms with human-potential pep talk and bristles with anecdotes--for example, about a bus driver who made $3 million, a doctor (reporting that his training gave him zero people skills) who lost $1.5 million, and a loser scholar in the bottom 10 percent on six GRE tests who grew up to be Martin Luther King Jr. Read it and you'll feel like a million bucks. --Tim Appelo --This text refers to an out of print or unavailable edition of this title.

From Library Journal

In The Millionaire Next Door, read by Cotter Smith, Stanley (Marketing to the Affluent) and Danko (marketing, SUNY at Albany) summarize findings from their research into the key characteristics that explain how the elite club of millionaires have become "wealthy." Focusing on those with a net worth of at least $1 million, their surprising results reveal fundamental qualities of this group that are diametrically opposed to today's earn-and-consume culture, including living below their means, allocating funds efficiently in ways that build wealth, ignoring conspicuous consumption, being proficient in targeting marketing opportunities, and choosing the "right" occupation. It's evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck. In The Millionaire Mind, an excellent follow-up to the highly successful first analysis of how ordinary folks can accumulate wealth, Stanley interviews many more participants in a much more comprehensive study of the characteristics of those in this economic situation. The author structures these deeper details into categories that include the key success factors that define this group, the relationship of education to their success, their approach to balancing risk, how they located themselves in their work, their choice of spouse, how they live their daily lives, and the significant differences in the truth about this group vs. the misplaced image of high spenders. Narrator Smith's solid, dead-on reading never fails to heighten the importance of these principles that most twentysomethings should be forced to listen to in toto. Highly recommended for all public libraries. Dale Farris, Groves, TX
Copyright 2001 Reed Business Information, Inc. --This text refers to the Audio Cassette edition.

Product Description

After its first publication, Dr. Thomas J. Stanley's second best-seller The Millionaire Mind spent over four months on the New York Times best-seller list, rising to position #2, and has sold over half a million copies. Here is the first paperback edition of Stanley's second groundbreaking study of America's wealthy. The Millionaire Mind targets a population of millionaires who have accumulated substantial wealth and live in ways that openly demonstrate their affluence. Exploring the ideas, beliefs, and behaviors that enabled these millionaires to build and maintain their fortunes, Dr. Stanley provides a fascinating look at who America's financial elite are and how they got there. What were their school days like? How did they respond to negative criticism? What are the characteristics of the millionaire's spouse? Is religion an important part of their lives? The author uncovers the surprising answers to these and similar questions, showing readers through concrete examples just what it is that makes the wealthy prosper when others would turn away dejected or beaten. The Millionaire Mind promises to be as transformational as Dr. Stanley's previous best-seller. This book answers universal questions with solid statistical evidence in an approachable and anecdotal style. The number of copies sold of this soon-to-be-classic will surely be in the millions.

From the Publisher

Building on his research from the best-selling "The Millionaire Next Door," Dr. Thomas J. Stanley delves further into the psyche of the American millionaire with a groundbreaking new study, "The Millionaire Mind." In an easy-to-understand and often anecdotal style, "The Millionaire Mind" tells the stories of how people--a bus driver, a second-quality-textile entrepreneur, a Fortune 500 CEO--adopted the millionaire mindset to become financially independent.Dr. Stanley takes a close look at the top one percent of households in America and tells us what makes them tick. His findings on how American millionaires attained financial success are based on in-depth surveys and interviews with more than 1,300 millionaires. Inside "The Millionaire Mind," millionaires share their experiences, thoughts, and beliefs on the following topics:
--Memories from their school days --Personal thoughts on being "the smart kid in the dumb row" --Finding the courage to make difficult financial decisions --How they select a vocation --Driving factors behind their success --Tips for running economically productive households --What they look for when purchasing a home --Where they spend their money and free time
While we tend to think of millionaires in terms of luxury and expense--i.e. Brooks Brothers, Jaguar, or month long jaunts to Paris and Rome--millionaires admit they are more likely to spend their money at J.C. Penney or Wal-Mart and enjoy their free time with family and friends, or raising money for charity. Dr. Stanley places fact ahead of fiction and reveals the traits, qualities, and characteristics inside "The Millionaire Mind." --This text refers to an out of print or unavailable edition of this title.

About the Author

Dr. Thomas J. Stanley is an author, lecturer, and researcher who has studied the affluent since 1973 He's also the author of the best-selling books The Millionaire Next Door and Marketing to the Affluent, which was selected one of then outstanding business books by the editors of Best of Business Quarterly. His work is frequently cited in the national media. Dr. Stanley, who holds a Ph.D. in business administration from the University of Georgia in Athens, was formerly a professor of marketing at Georgia State University, where he was named Omicrom Delta Kappa Outstanding Professor. He lives in Atlanta.

From AudioFile

[Editor's note: The following is a combined review with THE MILLIONAIRE NEXT DOOR.] -- Just what does it take to become a millionaire in one generation? As anyone might figure, hard work and some luck play a big part. Inheritance, interestingly, does not. But there are many other factors, and Stanley and Danko spent years interviewing people with a net worth over $1 million to find them out. Stanley takes the research further in his follow-up program. Surprisingly, many people may possess at least some of these traits. The trick is that few people possess the right combination of traits or have the courage and self-discipline to use them effectively. Cotter Smith brings a relaxed but compelling style to these programs. The combination of the reading and the excellent abridgment makes for interesting and informative listening. Stellar audio production is a welcome bonus. T.F. © AudioFile 2001, Portland, Maine-- Copyright © AudioFile, Portland, Maine

Money Wise: How to Create, Grow, and Preserve Your Wealth by A. Michael Lipper & Douglas R. Sease

About the Book:-
Hardcover: 288 pages
Publisher: St. Martin's Press (September 2, 2008)
Language: English
ISBN-10: 0312373775
ISBN-13: 978-0312373771

Firnando Chau Review

Amazon Review

From Publishers Weekly

Musings on the creation, preservation and use of wealth devolve into rambling in this personal finance guide from a seasoned Wall Street investor and inventor of the Lipper Averages for mutual funds. In his search for the eternal truths of creating wealth, Lipper addresses the needs of only the very wealthiest Americans, suggesting that investors hire a supermanager to watch over their regular advisers if they have more than three. Focusing on the emotional and psychological aspects of wealth management, Lipper broods upon the reasons why people invest, wealth psychology and the various investment personalities (absolute, confident, uncertain, relative, fiduciary, bored, guilty). In a book marked by a paucity of practical suggestions, readers will likely notice—and be dismayed by—the lack of research to support the author's claims. While Lipper competently addresses the responsibilities of great wealth—including handling charitable donations and coming to grips with one's own mortality through decisions regarding wills, trusts and heirs, the long-winded slog to get there is not worth the haul. (Sept.) 

Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

From the New York Times

And after reading the book, you may not come away with new insights about how to select someone to help you manage your money, or about how to invest in general.

You have probably heard views like that for years. So what makes this book by the founder of Lipper Analytical Services — now Lipper, a division of Reuters, which provides information on mutual fund performance — so worthwhile?

It’s the unusual path he has chosen to follow. These days, most investment books are trying to make the not-so-rich rich, with titles like “The Automatic Guide to Making Money in the Coming Crash” (my concoction). But Mr. Lipper has taken a different approach, by not aiming at people who are trying to become wealthy. He has written this book, with the help of Douglas R. Sease, a former editor at The Wall Street Journal, for those who are already well off and want to stay that way.

Such people are likely to find his straightforward and often unconventional advice extremely appealing. And so, too, might the rest of us, who can take advantage of at least some of the strategies that Mr. Lipper offers.

Consider the approach he suggests for one of the most fundamental components of financial planning: figuring out your net worth. 

Typically, as part of this exercise, you are told to make a conservative guess of what your house would sell for today, deduct the mortgages against it, and add the difference to the asset side of your personal ledger.

The problem with that, Mr. Lipper argues, is twofold: Few people can count on converting their house into cash quickly, so whatever equity they have is far from a liquid asset, especially these days. More to the point, if you sell your house you still need a place to live (unless, of course, it is a second home). That expense — a liability on the balance sheet — is usually not included in the statement of net worth.

Not only do people overestimate their assets, Mr. Lipper argues, but they also underestimate their liabilities.

“Do you intend to fund education expenses for your children, or grandchildren?” Mr. Lipper asks. “Is your health going to be perfect until you suddenly drop dead? Do you intend to travel, eat in fine restaurants, and engage in other lifestyle indulgences after you retire? They’re all liabilities on your personal balance sheet, and many of them are, like some of your assets, difficult to estimate. Yet it is important that you make the effort because your estimate of your liabilities drives the way in which you arrange your assets.”

Other conventional wisdom when it comes to wealth is also misleading, he says.

Yes, of course, you want to invest in good companies with strong fundamentals, but Mr. Lipper says that “one of the rules that I try to follow is not to make a serious investment if I cannot find someone who has been in the same room with the principals of the company under consideration and seen them under some pressure.”

Mr. Lipper spends a great deal of time urging investors to be truly honest with themselves as they think both about their financial futures and their abilities. 

Three quick examples make the point:

•“I know most people talk about cutting back on expenses when they retire, but they seldom make significant reductions.” His advice is to figure that once you quit work, you will continue to spend as you do now, and to plan accordingly.

•“Most investors at one time or another in their lifetime try their hand at trading stocks or other financial instruments. If you pay attention to nothing else I have written, pay attention to this: Don’t trade with a lot of money.” You are not likely to be good at trading, he says, no matter how smart you think you are.

•“The biggest mistake that I see people of wealth making is having a single-minded focus on investment returns with no thought about their spending patterns. At the end of the day, expense control plays a larger role in the success of a financial program than the entire array of specific investments.” His point is that you can certainly offset lower returns in the market, by living on less.

HIS thoughts even extend to raising children.

“If your child really wants an advanced degree in poetry,” he says, “consider that you might want to use the assets that would pay for the degree to instead set up a trust to help pay the cost of living until the child is economically independent.”

One last point also makes the book stand out: his focus on constantly asking what kind of financial legacy you wish to leave. 

Competent estate attorneys can create your will and establish the necessary trusts, but it is up to you to decide whom or what you want to benefit.

The result of all this is a book that may help you preserve whatever money you have and think carefully about what you want to do with it.

—Paul R. Brown

From The Seeker

After many years of discussion with family, friends and colleagues, A. Michael Lipper, CFA, has written a book, Money Wise: How to Create, Grow, and Preserve Your Wealth (September 2008, St. Martin's Press) with former Wall Street Journal Money and Markets Editor Douglas Sease. The book is a delight to read not only for what it tells you about investing per se but because it's a witty tome about life's lessons. By the way, these lessons apply to investing, too.

Many clients of wealth managers will know the Lipper name, attached as it is to many mutual fund indices and fund performance statistics, often with the phrase, “according to Lipper.” Reuters bought Lipper's data company, Lipper Analytical Services, Inc. in 1998, now known as Lipper, Inc. As president of Lipper Advisory Services, Inc., and Lipper Consulting Services, Inc., Mike Lipper continues to engage in his philanthropic endeavors, to manage money for a select group of wealthy individuals and institutional investors, and to consult with financial companies.

Lipper is a member of the Board of Trustees of the California Institute of Technology (Caltech), which manages the Jet Propulsion Laboratory. In the book, he talks about what he's learned in the course of getting to know the physicists and professors there, and the parallels between physics and investing.

He sat down with Wealth Manager's Editor in Chief, Kate McBride, at his home in New Jersey in early June. [Full disclosure: The writer has known Mike Lipper for the better part of two decades, and worked for him for many years.]

In the book, you talk about science and the uncertainty of life, about change, and this ties in with your work with Caltech and the physicists there. How do you draw some of the parallels between physics and investing?

It has to do with probability and certainty. In physics you hope to discover or use a law that is totally repeatable and that anyplace in the world, somebody else can repeat it and get the same result not only today but forever. We know now [that] some of the past scientific laws weren't forever, but you're looking for [the ability to reproduce results] 100 percent of the time.

In investing, a good investor wins, in terms of dollar impact, something more than 50 percent of the time. A professional should win 60 percent and a great investor 67 percent–two-thirds of the time. You can look at Buffett, Soros, Neff, Peter Lynch. When you talk with any of them privately, they talk about the fish that got away, so while searching for investment truths we have to learn to deal with investment odds. The odds on totally replicating the past [are not good]; it's the ability to absorb error that is the way to stay in the game long enough for when things come right. The big tragedy of declines is that people sell out and say, “Never again,” and they miss the upsides, and historically, in this country the upsides have been bigger than the downsides.

What got you interested in doing the work that you're doing with Caltech in the first place?

Like with almost everything in my life, it was accidental–I had heard of the school but really didn't know it. A neighbor and good friend is a graduate, bachelor's, master's and doctorate and invited [my wife] and I to attend what they call Caltech Associates Dinners where they bring in professors to talk about what they're doing, and we were fascinated–[it's] a whole different world than what I was used to–even though I was at one point an electronics analyst. This stuff was way above anything that I knew anything about, and I was impressed. I can go in there and learn something from very smart people–a lot of what I've learned is not immediately applicable. It's a different point of view; that they are the manager of the Jet Propulsion Lab opens up the concept of space and how a tiny error here on earth means that you miss a planet by zillions.

The stuff they're doing in neuroeconomics is fascinating. The theory is that they can identify the portions of the brain that make decisions–and quite probably economic decisions. Whether those are investment decisions, more work's got to be done. They have a game theory group–fascinating work. Bottom line, [they're] just a bunch of very bright people, and it happened...

Don't Worry, Make Money by Richard Carlson

Don't Worry, Make Money by Richard Carlson

The Last Chance Millionaire: It's Not Too Late to Become Wealthy by Douglas R. Andrew

• Hardcover: 368 pages
• Publisher: Business Plus (June 12, 2007)
• ISBN-10: 0446580538
• ASIN: B0029LHX8U

From Publishers Weekly

Baby boomers, take note: traditional retirement savings wisdom won't yield you enough to live on in your golden years, warns financial adviser Andrews (Missed Fortune, etc.). Today's boomers are facing retirement with savings of (on average) an inadequate $50K and are relying on outdated financial strategies to carry them through. In a clear, firm tone, Andrews explains that socking away all your savings in a 401(k), paying off your mortgage and buying a vacation home only after your primary home is paid off are all worn-out Depression era truisms that no longer apply when boomers may live 20 or even 30 years past retirement age. Andrews's last-minute catch-up plan for safely generating a livable income within the years, not decades, left until retirement mixes familiar wisdom—take advantage of compound interest, tax-favored growth and safe, reliable leverage, and don't depend on Social Security—with a refreshingly down-to-earth plan for becoming a Thriver, whose money is busily working away, tax-free or tax-reduced to provide stability and enjoyment in the golden years. This is no bathtub reading—the text is heavy on charts and graphs and percentages—but the conversational, sympathetic voice serves as a wakeup call for boomers without enough saved. (June)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

A marvellous fantasy trip' Frank Herbert 'If Harry Potter has given you a thirst for fantasy and you have not discovered the magic of Terry Brooks, you are in for a treat' ROCKY MOUNTAIN NEWS 'Confirms Terry's place at the head of the fantasy world' Philip Pullman

Product Description

According to Doug Andrew, the bestselling author of Missed Fortune 101, too many Americans are being led down the wrong financial path. Even worse, many Baby Boomers find themselves panicking --fearful that they've already fallen too far behind to ever catch up. In this indispensable and eye-opening guide, Andrew provides fresh new pathways to reaching financial security -- pathways that all Americans need to consider now.

Centering on his Three Miracles of Wealth Accumulation: the Miracle of Compound Interest, the Miracle of Tax-Favored Accumulation, and the Miracle of Positive, Safe Leverage, Andrew explodes many of the commonly-held myths about 401ks, pensions, paying down one's mortgage, and other forms of retirement planning. Along the way, Andrew offers unique strategies that will not only increase your wealth, but also help readers enjoy their best years while securing their future.

About the Author

Douglas R. Andrew is the owner and president of Paramount Financial Services, Inc., a comprehensive personal and business financial planning firm. An award-winning speaker, he does dozens of seminars on personal finance each year allover the country. He lives in Salt Lake City, Utah.

From AudioFile

Andrew aims his message at Baby Boomers, who he believes are using timeworn methods of saving for retirement and will fall far short of the amount of money they will need. He reads his own work in a pedantic and cumbersome style that may not appeal to those used to more upbeat presentations. He moves through the chapters in a deliberate and precise manner that makes listeners feel every word, which can often be overwhelming in a multi-disc volume. Andrews passion for the subject is stifled by overdramatization of certain statements at the expense of others. Numerous repetitions of facts seem redundant and distracting. He does enunciate well and speak clearly, a style that may appeal to listeners who often need to rewind. M.R. © AudioFile 2007, Portland, Maine-- Copyright © AudioFile, Portland, Maine

Grow Rich! With Peace of Mind by Napoleon Hill

Grow Rich! With Peace of Mind by Napoleon Hill (Paperback - Jun 13, 2007)

Firnando Chau Review

Secrets of the Millionaire Mind by T. Harv Eker

Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth by T. Harv Eker

About the Book:-

Hardcover: 224 pages

Publisher: HarperBusiness; roughcut edition (February 15, 2005)

Language: English

ISBN-10: 0060763280

ISBN-13: 978-0060763282

Firnando Chau Review



From Publishers Weekly


Eker's claim to fame is that he took a $2,000 credit card loan, opened "one of the first fitness stores in North America," turned it into a chain of 10 within two and a half years and sold it in 1987 for a cool (but somewhat modest-seeming) $1.6 million. Now the Vancouver-based entrepreneur traverses the continent with his "Millionaire Mind Intensive Seminar," on which this debut motivational business manual is based. What sets it apart is Eker's focus on the way people think and feel about money and his canny, class-based analyses of broad differences among groups. In rat-a-tat, "Let me explain" seminar-speak, Eker asks readers to think back to their childhoods and pick apart the lessons they passively absorbed from parents and others about money. With such psychological nuggets as "Rich people focus on opportunities/ Poor people focus on obstacles," Eker puts a positive spin on stereotypes, arguing that poverty begins, or rather, is allowed to continue, in one's imagination first, with actual material life becoming a self-fulfilling prophecy. To that end, Eker counsels for admiration and against resentment, for positivity, self-promotion and thinking big and against wallowing, self-abnegation and small-mindedness. While much of the advice is self-evident, Eker's contribution is permission to think of one's financial foibles as a kind of mental illness—one, he says, that has a ready set of cures.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist

Eker, a multimillionaire, teaches us how to become rich. He believes thoughts lead to feelings, which lead to actions, which lead to results, and hence the key to attaining great wealth begins with thinking--like rich people do. He offers new ways of thinking and acting that will lead to new and different results, and he tells us, "Success is a learnable skill. You can learn to succeed at anything." The book emphasizes Eker's 17 principles for amassing wealth, which include: rich people believe that they create their life, while poor people believe "life happens to me." Rich people focus on opportunities, while poor people focus on obstacles. Rich people act in spite of fear, while poor people let fear stop them. Rich people constantly learn and grow, while poor people think they know enough. This is an obvious infomercial for the author's training seminars; however, although many may not agree with all of Eker's ideas, his book offers thought-provoking advice and valuable insight. Mary Whaley
Copyright © American Library Association. All rights reserved

Review


"Harv Eker is one of the most extraordinary speakers and trainers in the world today!" -- Mark Victor Hansen, Coauthor, #1 New York Times bestselling series Chicken Soup for the Soul

"I have admired Eker’s work for years and I highly recommend this book for everyone seeking to increase their wealth." -- Jack Canfield, Coauthor, Chicken Soup for the Soul

"If you want to learn about the root cause of success, read Secrets of the Millionaire Mind." -- Robert G. Allen, author of Multiple Streams of Income, and The One Minute Millionaire

"If you want to move to a new level of success quickly, memorize every word in this profound book." -- Linda Forsythe, Founder/CEO, Mentors Magazine

"Study this book as if your life depended on it...financially it may!" -- Anthony Robbins, the world's #1 peak performance coach

"T. Harv Eker is a master at making the road to riches simple." -- Marci Shimoff, coauthor, Chicken Soup for the Woman's Soul

"This is the most powerful, persuasive, and practical book on becoming wealthy that you will ever read." -- Brian Tracy, author of Getting Rich Your Own Way

About the Book

SECRETS OF THE MILLIONAIRE MIND reveals the missing link between wanting success and achieving it!

Have you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?

The shocking answer is: None of the above!

In his groundbreaking SECRETS OF THE MILLIONAIRE MIND, T. Harv Eker states: "Give me five minutes, and I can predict your financial future for the rest of your life!" Eker does this by identifying your "money and success blueprint." We all have a personal money blueprint ingrained in our subconscious minds, and it is this blueprint, more than anything, that will determine our financial lives. You can know everything about marketing, sales, negotiations, stocks, real estate, and the world of finance, but if your money blueprint is not set for a high level of success, you will never have a lot of money -- and if somehow you do, you will most likely lose it! The good news is that now you can actually reset your money blueprint to create natural and automatic success.

SECRETS OF THE MILLIONAIRE MIND is two books in one.

Part I explains how your money blueprint works. Through Eker's rare combination of street smarts, humor, and heart, you will learn how your childhood influences have shaped your financial destiny. You will also learn how to identify your own money blueprint and "revise" it to not only create success but, more important, to keep and continually grow it.

In Part II you will be introduced to seventeen "Wealth Files," which describe exactly how rich people think and act differently than most poor and middle-class people. Each Wealth File includes action steps for you to practice in the real world in order to dramatically increase your income and accumulate wealth.

If you are not doing as well financially as you would like, you will have to change your money blueprint. Unfortunately your current money blueprint will tend to stay with you for the rest of your life, unless you identify and revise it, and that's exactly what you will do with the help of this extraordinary book. According to T. Harv Eker, it's simple. If you think like rich people think and do what rich people do, chances are you'll get rich too!

About the Author

Using the principles he teaches, T. Harv Eker went from zero to millionaire in only two and a half years. Eker is president of Peak Potentials Training, one of the fastest growing success training companies in North America. With his unique brand of "street smarts with heart," Eker's humorous, "cut-to-the-chase" style keeps his audience spellbound. People come from all over the world to attend his sold-out seminars, where crowds often exceed 2,000 people for a weekend program. So far, Eker's teachings have touched the lives of more than a quarter million people. Now, for the first time, he shares his proven secrets of success in this revolutionary book. Read it and grow rich!

The Business School: For People Who Like Helping People by Robert Kiyosaki

• Paperback: 125 pages
• Publisher: TechPress (2002)
• Language: English
• ASIN: B0015STW7I

Product Description

There’s More to Network Marketing Than Money.
Networking marketing gets a bad rap. In reality, it’s a great way to obtain valuable business and sales skills Ð all while generating extra income. The benefits of network marketing are vast.
In this Second Edition of his bestselling book, The Business School, Robert Kiyosaki, successful entrepreneur, investor, and author, updates and expands on his original eight "hidden values" of a network marketing business (other than making money!). Plus, enjoy a special bonus three additional "hidden values" from Kim Kiyosaki, Sharon Lechter, and Diane Kennedy.
If you’re ready to learn more on how network marketing can increase your business acumen and strengthen your sales skills – all while generating income for you and your family – then you don’t want to miss The Business School.

Rich Dad's Escape from the Rat Race: How to Become a Rich Kid by Following Rich Dad's Advice by Robert Kiyosaki

Paperback: 64 pages
Publisher: Little, Brown Books for Young Readers; 1 edition (January 1, 2005)
Language: English
ISBN-10: 0316000477
ISBN-13: 978-0316000475

From School Library Journal

Grade 3 Up–The authors of the bestselling Rich Dad, Poor Dad attempt to teach financial intelligence to children through colorful cartoon images and cute animal characters. However, the lessons are more suitable for high school students. The authors tell readers to minimize their liabilities such as credit-card debt while building assets, such as starting their own businesses. Examples of the latter include charging classmates to read their comic books or for borrowing their bicycles. The lessons encourage "financial intelligence," but seem to discourage readers from getting a traditional job and fail to mention the hard work and long hours involved in running one's own business. Keltie Thomas's The Kids Guide to Money Cent$ (Kids Can, 2004) and Jamie Kyle McGillian's The Kids' Money Book (Sterling, 2003) offer far better advice.–Karen T. Bilton, Somerset County Library, Bridgewater, NJ

Product Description

How do you get kids interested in learning about finance? Give them a comic book! Rich Dad series author Robert Kiyosaki, whose books have sold over 5 million copies, recognized the increasing need for people to begin their journey to financial literacy-and life-long wealth-as early as their preteen years. In Escape from the Rat Race, basic lessons about ``working to learn, not to earn'', buying assets, and understanding a financial statement are revealed in a graphic format through the tale of Timid T. Turtle. When Tim runs out of cash at an amusement park, his savvy friend Red E. Rat shows him how to ``make money work for him''-and tells Robert Kiyosaki's own riveting account of learning the basic principles of lifelong financial success. Illustrated with full-color sequential art in the style of Rich Dad's popular CASHFLOW games and Web site, here is a book that gives kids (and reluctant readers of all ages) the chance to take their first steps toward financial freedom.

About the Author

Robert Kiyosaki and Sharon Lechter are the authors of the #1 New York Times bestseller Rich Dad, Poor Dad, as well as Rich Dad's Guide to Investing, Cashflow Quadrant, and Retire Young, Retire Rich. Both authors live in Arizona.

About the Artist
Rantz Hoseley has been working in comics since 1987, starting with Tales of the Ninja Warriors (CFW Publishing). Since then, he's worked on many different titles, of which a few include: Angry Shadows (Innovation), The Shattered Earth (Eternity Comics), Caliber Presents (Caliber Press), Ouch (BayWauHaus Publikations), R.I.P. (TSR/Wizards of the Coast), Medal of Honor (Dark Horse) and Real Stuff (Fantagraphics).

In addition, Rantz created, wrote and drew the daily strip "Edge City" for the Daily Evergreen from 1992-94 and is the creator/writer/artist on the thrice-weekly online comic strip DeathMarch (www.gamespy.com/comics/deathmarch) hosted by the largest gaming network online.

Think and Grow Rich by Napoleon Hill

• • Hardcover: 368 pages
  • Publisher: High Roads Media; Revised and Updated edition (March 11, 2004)
  • Language: English
  • ISBN-10: 1932429239
  • ISBN-13: 978-1932429237

Product Description

It is said that Napoleon Hill has made more millionaires and inspired more successes than any other person in history. And hes still doing it today. This new workbook, the first of its kind, acts as a personal mentor, guiding readers and helping them read between the lines and unlock the powerful ideas of Napoleon Hill. Think and Grow Rich: The 21st Century Edition Workbook will do what has never been done beforeit will show you how to get the most out of Napoleon Hill`s bestselling success book the very first time you read it.

About the Author

Napoleon Hill was born in 1883 in a one-room cabin on the Pound River in Wise County, Virginia. From these humble roots he rose to distinction as the author of the motivational classics The Laws of Success and Think and Grow Rich. Hill passed away in November 1970 after a long and successful career writing, teaching, and lecturing about the principles of success. His lifework continues under the direction of the Napoleon Hill Foundation, whose goal and mission is to assist people throughout the world to reach their highest level of personal achievement and self-fulfillment.