Friday, November 2, 2007
The 5 Lessons a Millionaire Taught Me: About Life and Wealth
I've read a lot of financial planning books and I consider myself pretty well-educated in matters of finance. I've even published articles on managing finances. So I wondered if this book had anything new to offer. In concept, it doesn't, but in presentation it does. And any time you take a moment to evaluate the health of your finances, I think it's time well spent.
Of course knowing that Richard Paul Evans is a self-made successful author and businessman, I was even more intrigued.
I read a couple of chapters, then went in search of a pencil. Doing that means there are things I don't want to forget. One of my favorite chapters is titled, "Keep a Portion of Everything You Earn." I tell my kids constantly. "Do you want to spend your birthday money on making the PlayStation2 Executives even richer by purchasing a $50 game? Or do you want swap games with your buddies?"
One of the quotes in the book really struck me. "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." I'm raising my hand, because I am guilty.
I also loved Evans' example of how to win within the margins. I think that's what impressed me the most. Of course we all want to use our talents and skills we already have to expand our financial net, but Evans gives some excellent examples of how to do exactly that.
I highly recommend this book because of its simplicity, its undaunting brevity, and its structure based on tried and true principles.