Last Updated on August 23, 2020
Have I ever made any money by taking the advice of a book on making money? Yes!
I got some value out of purely inspirational books like “How to Make Friends & Influence People” and “The Power of Positive Thinking.”
I also wasted my time on books and correspondence classes by people who never really made any money except by peddling books.
I will always remember the worthless pamphlet: “Lazy Man’s Guide to Riches.” The advice was to write a worthless pamphlet and sell a few million copies of it for a dollar. That’s it.
The author was a friend of mine and he is also dead, so not likely to sue me for this negative review. I am pretty sure his “Lazy Man’s Guide to Riches” is available free now.
I won’t mention a lot of the very misleading popular books and scams on the market these days. Also, father always said, “If you can’t say something good about someone or something, don’t say anything at all.”
To get more specific. I’ve become successful after reading a book by
W. Nickerson “How I Turned $1,000 into a Million in Real Estate in My Spare Time”.
The whole idea was to find the worst, most run-down house is a good neighborhood, buy it with little or no money down by getting the seller to carry a loan, and then to personally fix it up mostly with “cosmetics” like a paint job and clean up.
Long book one short idea. Did it work? Sure.
That was how I made plenty of money. Buying “fixer-uppers” and either holding them as rentals or trading up tax-free.
Does it work today? Well, Yes!
Short story: My wife said she was tired of staying and home and “looking after me” and was going to get a job.
I told her she would have to live, work and save for 1,000 years to make a million, but that if she followed my advice as explained in the “Think Like A Tycoon” book she could make a million in a year or two. She did and she did. Two million in fact.
How? By fixing up and re-selling a decrepit villa in a great location. It was a lot of work!
So the answer is you won’t get rich reading books if that is all you do, but if you read books with the actual, technical do-it-yourself steps by experts who have done it then of course, with DILIGENCE, FOCUS, and MUCH EFFORT, you can and will get rich.
It is possible to double your money every 2 years or so if you work at it diligently?
Work smart, not work hard. The fact is at my age, all I want now is a stress-free life. I don’t want any administrative tasks or investments like fix up houses anymore. I used to own many of them. Major pain in the butt.
Today I’d advise any wealthy person to just buy valuable things not requiring any care and feeding.
Like What? Well, selected Artworks, gold coins, things that have a good history of appreciation.
Then insure them and store in a different country thousands of miles away so you don’t need to worry about theft and can look like a poor slob to the rest of the world.