Automatic Wealth: The Six Steps to Financial Independence

Michael Masterson9780471710271, 047171027X

Masterson, a self-made millionaire, draws upon his own experiences and that of experts in specific fields (retirement, investing, real estate) to offer a complete program on achieving financial independence. Organized around five key principles, the author shows readers how to increase their income and continue to save for the future; how to live more comfortably; how to gain equity in a business that will provide an income stream for the future; how to buy real estate and how to invest the rest of your money. The book will offer specific steps including how to develop wealth-building habits, find the right business to invest in and how to develop a three to fifteen year plan to reach millionaire status.

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Table of contents :
CONTENTS……Page 8
ACKNOWLEDGMENTS……Page 10
WHO AM I? AND WHY ARE YOU READING THIS BOOK?……Page 12
BOCA’S STORY: AN UNEXPECTED LESSON IN AUTOMATIC WEALTH……Page 14
YOUR FAST TRACK TO FINANCIAL INDEPENDENCE……Page 16
SIX STEPS TO AUTOMATIC WEALTH–IN A NUTSHELL……Page 18
RON’S STORY: WHAT HAPPENED WHEN TWO OLD FRIENDS MET AFTER 25 YEARS……Page 19
RON’S SIX-STEP WEALTH-BUILDING JOURNEY……Page 23
IF RON COULD DO IT, YOU CAN DO IT……Page 25
THE DAY I DECIDED TO GET RICH……Page 26
THE REAL MEANING OF WEALTH……Page 28
BEING RICH IS NOT JUST ABOUT HAVING MONEY IN THE BANK……Page 29
PLAN TO BE WEALTHY IN EVERY IMPORTANT WAY……Page 32
FOLLOW POPULAR FINANCIAL GURUS AND STAY POOR……Page 33
HOW MUCH WEALTH DO YOU NEED?……Page 36
WHAT ABOUT SOCIAL SECURITY?……Page 37
WHERE DO YOU STAND RIGHT NOW?……Page 39
DO YOU HAVE ENOUGH TO RETIRE COMFORTABLY?……Page 40
NOW IS THE RIGHT TIME TO ACT……Page 47
READY . . . FIRE . . . AIM……Page 48
STEP 2: PLAN TO BECOME WEALTHY……Page 52
THE TIME TO START IS RIGHT NOW……Page 53
GETTING YOURSELF READY BY SETTING GOALS……Page 54
WHAT DO YOU HOPE PEOPLE WILL SAY ABOUT YOU AT YOUR FUNERAL?……Page 55
TRANSLATE YOUR CORE VALUES INTO FOUR LIFETIME GOALS……Page 56
HOW MUCH OF THIS CAN YOU REALISTICALLY ACCOMPLISH, MEDIUM TERM — IN THE NEXT 7 TO 15 YEARS?……Page 57
HOW MUCH CAN YOU ACCOMPLISH IN THE NEXT YEAR?……Page 58
THE EARLY BIRD CATCHES THE GOLDEN WORM……Page 59
HOW I TAUGHT MYSELF THE VIRTUOUS EARLY-TO-RISE HABIT……Page 60
YOUR WEALTH-BUILDING PLAN FOR THE NEXT 12 MONTHS……Page 62
DAILY PLANNING: GETTING THE MOST FROM EVERY MINUTE……Page 64
REACH YOUR GOALS FASTER: EIGHT SECRETS I’VE DISCOVERED FOR TURNING WASTED TIME INTO PRODUCTIVE TIME……Page 71
CAN GETTING RICH BE SIMPLE AND EASY?……Page 80
STEP 3: DEVELOP WEALTHY HABITS……Page 82
IT’S NOT ABOUT THINKING . . . IT’S ABOUT DOING……Page 83
PRACTICE MAKES PERFECT……Page 86
THE EIGHT HABITS OF HIGHLY SUCCESSFUL WEALTH BUILDERS……Page 89
2. WEALTHY PEOPLE ARE GOOD AT WHAT THEY DO……Page 90
4. WEALTHY PEOPLE LIVE IN (RELATIVELY) INEXPENSIVE HOMES……Page 91
5. WEALTHY PEOPLE ARE MODERATE IN SPENDING……Page 93
6. WEALTHY PEOPLE ARE EXTRAORDINARY AT SAVING……Page 97
7. WEALTHY PEOPLE PAY THEMSELVES FIRST……Page 98
8. WEALTHY PEOPLE COUNT THEIR MONEY……Page 106
WHILE YOU ARE DEVELOPING WEALTH-BUILDING HABITS, DON’T DEPRIVE YOURSELF……Page 107
HOW TO LIVE LIKE A BILLIONAIRE WITHOUT SPENDING LIKE ONE……Page 109
LIVING RICH . . . STARTING RIGHT NOW……Page 112
STEP 4: RADICALLY INCREASE YOUR PERSONAL INCOME……Page 116
WHY ORDINARY PAY RAISES WILL MAKE YOU POORER INSTEAD OF RICHER……Page 117
THE SECRET TO GETTING ABOVE-AVERAGE RAISES……Page 119
HOW TO BE A TOP EARNER IN YOUR BUSINESS……Page 130
IF YOU’RE NOT SURE WHICH SKILL TO MASTER, TRY THIS ONE FIRST……Page 144
BETTER YET, TURN YOURSELF INTO A MARKETING GENIUS……Page 147
HOW TO BECOME A CONSULTANT TO YOUR OWN COMPANY……Page 151
DEVELOPING YOUR SECOND (AND THIRD AND FOURTH) INCOMES……Page 156
ONE MORE GOOD IDEA FOR YOU: BUYING AND FLIPPING REAL ESTATE……Page 164
PLAN YOUR SUCCESS……Page 178
STEP 5: GET RIGHER WHILE YOU SLEEP……Page 180
INVESTING IN STOCK FOR EQUITY APPRECIATION……Page 181
THREE CHARACTERISTICS OF GREAT START-UP VENTURES……Page 185
THE POTENTIAL OF REAL ESTATE……Page 196
MAKING YOUR FORTUNE IN YOUR SPARE TIME BY GETTING EQUITY IN A BUSINESS……Page 233
STEP 6: RETIRE EARLY……Page 250
STOCKS AND BONDS VERSUS REAL ESTATE AND ENTREPRENEURSHIP……Page 251
FOUR MODEL INVESTMENT PORTFOLIOS — ONE FOR EVERY STAGE OF YOUR WEALTH-BUILDING CAREER……Page 255
WHY YOU SHOULDN¡¯T COMPLETELY RETIRE EVEN WHEN YOU CAN AFFORD TO……Page 268
INDEX……Page 286