This isn’t a typical wealth-building book. Most (good) books on wealth-building (like The Automatic Millionaire or The Millionaire Next Door) will advocate spending less than you earn and investing the difference from a young age. This is tried-and-true advice, and many of the people who follow this advice are comfortably well-off. I certainly recommend these … Read more
OK, The Automatic Millionaire has been out for close to two years now and there is already a workbook companion for the original book. I like this book. Many others do too. Bach explains the methods in extremely simple terms and includes several calls to action to encourage readers to start using the advice. Condensing … Read more
More comments on my post Missed Fortune 101 — Horrible Advice! Please chime in here or there with your comments! I’m the first to admit that I don’t like any debt that isn’t making me a lot more money than it’s costing me. However, I don’t buy into the argument that I’m “running from debt … Read more
Scott Burns wrote for the Star Tribune a few weeks ago, asking: Is insurance the answer to pension-taxes dilemma? This idea, described in detail in Douglas Andrew’s Missed Fortune 101, “doesn’t survive testing in the Reality Lab,” according to Burns. Burns actually runs some numbers. Among other things, he cites: the high commissions charged for … Read more
I ran across a couple of threads at Financial-Planning.com about Missed Fortune 101 by Douglas Andrew. If you’ve read my previous posts about this book, you know that I’m not a big fan of this book. Anyway, here are a couple of threads by financial planners — some of them very heavily credentialed — that … Read more
I promised some more discussion about Douglas Andrew’s Missed Fortune 101 — which is not really an investment book as much as it is a plug for lenders and insurance companies. In this post I’ll talk about some of the points he brings up against paying down your mortgage faster. The main idea of the … Read more
I heard about Douglas Andrew’s Missed Fortune 101 when somebody recommended it for the “Best Financial Book I’ve Ever Read” series on FreeMoneyFinance. (FMF is merely the messenger, so don’t shoot him! :)) It immediately drew criticism from other readers. I posted a comment after reading part of the book and reading the reviews on … Read more
My wife asked if I wanted to cancel our DirecTV subscription today. Part of the reason was because we don’t really watch the TV all that much. Another big part of the reason was that we didn’t want our daughter (now 6 months old — yay!) growing up with the constant ads. Looking back, I … Read more
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