Summary of Secrets of the Wealth Makers

Top Money Managers Reveal Their Investing Wisdom

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Secrets of the Wealth Makers book summary
If you’re singing, “If I were a rich man,” invest as you are told here and you’ll change your tune to “Happy Days Are Here Again.”

Rating

6 Overall

8 Applicability

5 Innovation

8 Style

Recommendation

"If I were a rich man," goes the song. Well, if you were, this is how you would invest. Michael F. Lane draws on the advice of top money managers and financial planners to help readers in five key areas: 1) wealth planning, 2) wealth accumulation, 3) wealth without tax, 4) wealth transfer and 5) wealth protection and preservation. The book is aimed at the individual investor with a relative lack of experience in the financial marketplace. The broad overview includes basics of planning your portfolio, E-trading, making investments more tax efficient (for U.S. investors) and estate planning. This solid guide emphasizes fundamentals, although sometimes the discussion becomes repetitious. And, when different advisers give contradictory advice, the diversity of opinion can seem confusing. Lane might have done more summarizing and synthesizing, but getAbstract recommends his solid book as a generally good guide for prospective and new investors who want a reason to sing.

In this summary, you will learn

  • How to get started in investing
  • Why you should diversify your investments, assess your risk tolerance and avoid “investment noise”
  • How to avoid taxes
 

Summary

Wealth: Goals and Methods
Every investor’s situation is different, and the more advisers you consult, the more different opinions you will hear. However, advisers also give consistent recommendations. The following advice on how to plan your investment strategy for the very best results...
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About the Author

Michael F. Lane is president of the adviser resource division of AEGON Financial Services Group. He is a contributing editor to Personal Financial Planning, Investment Adviser, and has frequently been quoted in Barron’s, The New York Times and other financial publications. His previous books include Guaranteed Income for Life.


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