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Automatic Wealth: The Six Steps to Financial Independence
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Binding: Hardcover
Dewey Decimal Number: 332.02401
EAN: 9780471710271
Edition: 1
ISBN: 047171027X
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 288
Publication Date: February 28, 2005
Publisher: Wiley
Studio: Wiley
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Editorial Review:
The advice and concepts outlined in Automatic Wealth are best suited for those in their 30s-50s who recognize that their current job will never afford them true financial independence. Rather than encourage readers to quit their day jobs today and launch into a new scheme tomorrow, Masterson shows how to turn your skills and experience into significantly more money within seven to fifteen years. For those just getting by, he details how to get the biggest pay raises now and how to move into more lucrative ventures in the near future. For those with some savings, he offers specific advice on building equity and increasing net worth significantly and quickly. Since Masterson made his millions starting and developing small businesses, he encourages people to become entrepreneurs themselves and discusses which kinds of ventures to invest in and which ones to avoid. He also stresses the importance of developing multiple income streams, offering chapters on real estate, stocks and bonds, consulting, direct mail, and other opportunities.
In addition to concrete steps, Masterson also writes about attitude and expectations. His first step, in fact, is to take an honest and realistic assessment of your current financial situation and prepare yourself to change habits. He stresses that you must make getting rich a priority and devote the necessary time to it--act immediately and don't wait until the perfect moment to change your situation (hint: the perfect moment rarely arrives.). Clearly written and filled with informative anecdotes and examples, Automatic Wealth will not make you a millionaire overnight. It could, however, make you one in a decade, and that's a timeline most people can deal with. --Shawn Carkonen
"I have known Michael for over twenty years. He has one of the smartest business minds I know. When he gives me advice, I pay attention, and you should, too. Automatic Wealth is full of wisdom and insight filtered by a master and brought to you in a well-written and delightful style."
-John Mauldin, Editor of the bestselling book, Just One Thing: Twelve of the World's Best Investors Reveal the One Strategy You Can't Overlook
"I am not usually a fan of this kind of book. One entitled Automatic Wealth made me suspicious. But I am a fan of Michael Masterson, and when I read the book, I was impressed. Masterson manages to go beyond the theory to tell you exactly how real people make real money in the real world. That, I think, is his genius. He's able to open his own eyes and see for himself what actually works. The result is original, clever, and very helpful to anyone who is serious about building wealth."
-Bill Bonner, coauthor of Empire of Debt: The Rise of an Epic Financial Crisis
"Michael Masterson has been a great friend of mine for over twenty years. I know for a fact that the strategy he teaches is the exact same strategy he has personally used to amass extraordinary wealth and prosperity for himself. He's reduced a normally daunting process down to six simple and unfailing steps YOU can absolutely use to vastly and rapidly increase your financial situation, often times doubling and redoubling your wealth every few years. This book will become your financial bible."
-Jay Abraham, author of Getting Everything You Can Out of All You've Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition
"Michael Masterson's book is brilliant and concise, packed with breakthrough insights and unique wealth-building tips. Best of all, it's practical because it combines proven investment and financial planning advice with street-smart business and real estate secrets."
-Robert Ringer, author of Action!, Looking Out for #1, and To Be or Not to Be Intimidated?
Customer Reviews
Average Rating: 
Rating: - Wealth management
This is more of a wealth management book.
The book has some obvious points here -- don't over stretch yourself when you are trying to be wealthy. Concentrate on one single thing that you want to do first. Save money and have self-discipline. Lastly, look for income generating investments that do the work for you. Overall, this is a quality book worth reading. I would avoid however solely concentrating on getting rich all the time -- you might become a Scrooge. We don't want anymore ... Read More
Rating: - Best Wealth Creation Book On The Market...
Michael Masterson is that.... a Master. I've ready almost every self-help financial book around and this is on the top ten. Although it's not categorized as a self-help book, it's more of a redirection for me than starting from scratch. Let me explain: Most authors spell out the same stuff when it comes to personal finance, building a business, or making money. Most of them never have done what they are preaching.
Michael has... bottom line. You are learning from the lessons of a multimillionaire ... Read More
Rating:  - Strategic Wealth Creation Guide for Mid-Lifers
Masterson knows wealth creation, having done it himself and coached thousands of others how to do it. This is a needed book for those in midlife who have not up to this point been diligently building their wealth and now need more aggressive strategies than those in their younger years who have time (and compounding interest) on their side.
Wealth does not just happen. You create it. You need strategies and you need to take action. For most people in midlife, this involves creating multiple streams ... Read More
Rating: - Wealthy book
I find it a very usuful book, make the map of your plan, a must.
Rating:  - Weak on content, strong on theory
This is a GOOD book, not a GREAT book. If you've never read anything about wealth building theory then you'll love this book. Otherwise, you'll find the same old rehashed material sliced and diced a dozen different ways in no less than 278 pages that seem to drone on endlessly.
As far as theory goes, you could do worse. The basics are all there. But the author could have easily told this story in half the space. You're not likely to learn anything new, unless you haven't been around the block yet. And you ... Read More
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