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Automatic Wealth
Book

Automatic Wealth

The Six Steps to Financial Independence

Wiley, 2005 更多详情


Editorial Rating

8

Qualities

  • Applicable

Recommendation

The world is filled with get-rich schemes and early retirement plans. Michael Masterson’s book stands out because it blends common-sense advice with savvy investment strategies and a healthy dose of reality. Using personal stories and instructive examples, Masterson provides reality-based insights about achieving financial independence. The chapters on wealth-producing habits and investment diversification are especially helpful, although the multiple sections on real estate investments make the book slightly repetitive. It might have benefited from tighter editing. This is a lively book with helpful suggestions and examples about generating wealth and achieving financial independence. getAbstract recommends it to those who seek a healthier income statement, early retirement or both.

Take-Aways

  • To achieve financial independence, take six steps over the next "seven to 15 years."
  • The steps are: "Face the facts," "plan to become wealthy," build "wealthy habits," "increase your income," "get rich while you sleep" and "retire early."
  • Establish short-term, mid-term and long-range goals in every area of your life, including finance, personal achievement, health and career.

About the Author

Michael Masterson is well known for his articles in "Early To Rise," an electronic newsletter published by Agora. During his career, Masterson has launched many successful ventures, including two $100 million-plus businesses.


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    J. O. 1 decade ago
    This was quite interesting to read. Basically this abstract says that you should save money and not to spend it into unuseful things. That is for sure true. Some of the advice given is not in a reach for everyone. I would say that you already need a good job or excess money to get on. If you have no education, doing this might be difficult because you need the start money anyway. But if you are already making some income, then changing your ways might get you started on path of gaining wealth. Anyway, I recommend reading this if you are interested in getting ideas how to improve your financial situation.

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