 | | |
| Missed Fortune 101: A Starter Kit to Becoming a Millionaire | 
 enlarge | Author: Douglas R. Andrew
Publisher: Business Plus
Category: Book
List Price: $23.99
Buy New: $0.01
You Save: $23.98 (100%)
Buy New/Used/Collectible from $0.01
Avg. Customer Rating:  (78 reviews)
Sales Rank: 42210
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6 x 1.2
ISBN: 0446576573
Dewey Decimal Number: 332.02401
EAN: 9780446576574
ASIN: 0446576573
Publication Date: January 3, 2005
Availability: Usually ships in 1-2 business days
|
| Customer Reviews:
Ready for a complete paradigm shift in retirement planning? September 17, 2007
5 out of 12 found this review helpful
Mr. Andrew presents a very cogent argument against traditional (401K, IRA's, paying off your mortgage) retirement planning. This title is the condensed version of his book "Missed Fortune".
His main suggestion is that "Investment-Grade Life Insurance" is a better vehicle for your retirement. The idea is that the tax treatment of "preferred interest" (deductible) makes it worth your while to invest the equity in your home. To paraphrase him: "What is the ROI on the equity in your home?"
This approach is not for the timid or risk averse. It is also hard to make that jump from the traditional retirement planning mindset. I have a B.S. in Finance; as I read the book, I found that while his ideas are contrary to everything I have learned about retirement planning , his arguments are very compelling.
He makes a few assumptions that you can take issue with (For example, that you'll effectively be in a 33% tax bracket when you are retired), but his ideas are something to consider.
Overall, the book is relatively easy to follow, and gives you another angle on planning for your future.
 If Your Situation Matches the Concept, It Is a Worthwhile Concept to Consider July 28, 2007
5 out of 10 found this review helpful
If you have a job that earns you regular income and you own or are thinking of owning a home, read this book.
Everyone between the ages of 25-55 should definitely read and understand what is being discussed. Then, decide if it is useful in your situation. Unfortunately, too many people will never hear of this concept and they will end up paying most of their money to the government, as most of us have done in the past.
There are four major ideas that one should take from this book:
(1) The interest rate you actually pay on your mortgage is not the rate that is quoted unless you keep the mortgage to maturity.
(2) If you can borrow money at a simple rate of interest and invest it in a compound rate of interest, the long-term benefits are substantial.
(3) In order to really make this concept work, you have to be making a reasonable income. The concept is not nearly as useful for people who are retired and have limited incomes against which to match the home mortgage interest deduction.
(4) There is a huge difference between investments that 'accumulate' tax free, versus ones that are eventually 'withdrawn' tax free. It definitely pays to know the difference.
Whether your situation fits the model or not, this book is worth reading.
 A MUST READ FOR EVERYONE July 16, 2007
1 out of 10 found this review helpful
I can't say enough about this book. What if everything you knew about money was false---when would you want to konw about it? Take your head out of the sand and read this book you won't be sorry.
Good Read June 26, 2007
2 out of 11 found this review helpful
If you don't like thinking across the grain of the average-minded American then don't read this book. In light of the fact that most folks won't be able to retire by 65 it would do most us well to give this a read; if not for ourselves then for those we will leave behind to clean up our mess. Although the concepts discussed are not self-evident, they are logical and and easy to follow. And while insurance is not the only basket to put all your investment eggs in, it was a good read and worth passing on to family, friends and colleagues. More than that, Andrew's advice is worth exploring for a more hopeful financial future.
Missed Fortune 101 June 26, 2007
2 out of 8 found this review helpful
A must read for anyone serious about finding a solution to retirement savings in a tax free environment. Although the information is not what you hear from all the other financial planners, this is a foolproof system that can make you a millionaire if you have the courage to follow the plan and do what other millionaires do. You don't need hugh returns but a safe, steady plan. You can do this whether you are young or old, healthy or not, well to do or just starting out. You have to be open-minded and don't prejudge yourself or your situation. Read the whole book and then put the plan into action. You will only improve your situation by following the plan.
|
|
|
Powered by Associate-O-Matic
| | |