The Constitution of Liberty by Friedrich A Hayek - Book Review

Title and Author: The Constitution of Liberty by Friedrich A. Hayek

Synopsis of Content:

First published in 1960, The Constitution of Liberty is economist Hayek's popular work in defense of a free economy and individual liberty. He contrasts command economies with free economies and compares the outcomes.

Hayek was a staunch anti-socialist who wrote in defense of capitalism at a time when it was not fashionable to do so. The 1960s may have been the apex of ascendency for socialism in the world and in academia especially defenders of free market capitalism were few and far between.

As you read Hayek's observations from 1960 you see the unfolding of the Reagan revolution in the United States as well as the failures of socialism in Europe, Russia and China.

Hayek writes about the necessity of private property rights and the role they played in achieving much of the affluence and financial success enjoyed in the Western world today. What Hayek could not know was how private property rights would play a key role in changing societies and improving economic conditions in India, China and many other areas of the world in the half century that has passed since he wrote this book.

Hayek also explores the relationship between free markets, private property and the evolution of democracy and freedom in the world. He demonstrates and folly of central planning and income redistribution plans and the dynamic progress a free society and economy can bring.

Whether you agree with all of Hayek's conclusions or arguments this is a good book for anyone to read who has an economic interest in the future. There is no doubt that it is very difficult if not impossible to build true wealth in a command economy but is done every day by millions of people in free markets. Anyone who values economic opportunity will gain benefit from understanding the role of private property and a free economy for us all.

Readability/Writing Quality:

Hayek was a noted economist and political philosopher. He wrote in a dense style typical of academia. His work is well written and insightful but is not an easy read.

Notes on Author:

Friedrich A. Hayek was born in Austria. He was a world renowned economist and political philosopher. He won a Nobel Prize for Economics in 1974 and the US Presidential of Freedom in 1991. He died in 1992.

Great Ideas You Can Use:

While this book does not provide concrete instructions for people to create wealth it is a useful and powerful endorsement of the kinds of economic and political systems that make it possible for individuals to create wealth as well as an indictment of those systems that frustrate it. As each of us votes or otherwise plays our role in our political system it is useful to understand the principles at work here.

I highly recommend this book for anyone who wants to understand the big picture.

Publication Information:

The Constitution of Liberty by Friedrich A. Hayek

Published by University of Chicago Press. Copyright 2011. 688 pages.

Rating for this Book

Over all Rating for Book: Very Good

Writing Style: Moderate to difficult.

Usefulness: not practically useful in business, but very useful in making important political decisions.

Difficulty: Moderately difficult.

Daniel R. Murphy writes on success and how you can build wealth. Would you like to learn how others have been successful in business and in life? For a free success ebook and much information which can help make you successful and financially independent visit http://www.bookstowealth.com/. Begin your self-education today learning how others have become successful and rich! Do it today!

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Review - Enjoy Your Money!

Enjoy Your Money! How to Make It, Save It, Invest It and Give It, J. Steve Miller, 2009, ISBN 098187567x

There are a seemingly infinite number of personal finance books available in bookstores. This one is intended for people in their teens and twenties whose financial plans start and end with "become a millionaire."

Akashi, Antonio, James and Amy are your average high school students in detention, again. They meet with Mrs. Kramer, an eccentric, elderly teacher at the school, who teaches a course on money management. Every Saturday, they meet at a local fast food joint, where Mrs. Kramer takes the four into the world of money.

Have an emergency fund, equivalent to three or four months salary, in a savings account or money market account, accessible if needed. Pay off your debt as soon as possible, whether it is credit card debt, student loans or car payments. When you get some money in your pocket, it is tempting to buy a big-screen TV or fancy new clothes. Don't do it; live beneath your means; cut your expenses as much as possible. Is it more important that others think you are a rich person, or that you actually are a rich person?

It's also tempting to buy and sell stocks on a short-term basis, looking for a quick profit. Again, don't do it. Every time you buy or sell stock, your stockbroker makes money, not you. Research good quality, no fee mutual funds (especially index funds) that you can invest in for the long haul. Just because a fund had a good year last year, it does not mean they will have a good year this year.

A popular way to make money is by buying houses and "flipping" them. If that is not for you, and if you know the right people, think about "flipping" cars or motorcycles. People will always need decent, reliable transportation. The book also looks at buying a car (consult Consumer Reports and choose quality over flashy), insurance, knowing your way around a supermarket, investing in real estate, getting a job and keeping it.

This book is a goldmine of information. Written as a dialogue, this is very easy to follow for the person who does not want to read another "money literacy" book. This is highly recommended for every teenager and twentysomething who think that a million dollars will suddenly show up in their mailbox.

Paul Lappen is a freelance book reviewer whose website, http://www.deadtreesreview.com/, has over 800 reviews on all subjects, with an emphasis on small press books.

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Succeeding With What You Have by Charles Schwab

Synopsis of Content:

Charles Schwab wrote a very small book which became a classic soon after it was first published in 1920. In this book a man who had risen from rags to riches in reality tells his fellow man how it is done.

He begins by instructing people to think beyond their job. He gives examples from his own experience in America's early steel industry of men who intended to amount to something more than a wage earner, worked hard, and utilized the other principles outlined in this little book.

First he counsels the value of hard honest work. Next he speaks of giving more than fair service for the pay. Then he teaches men to think continually on how the business might be improved and communicate those ideas in little ways.

Next is a chapter on how men are appraised on the job, seizing opportunities, the relative value of a college education, what employers expect, how he sees his employees as partners, men with whom he has worked and a woman's part in a man's success.

Some of this material, especially the last chapter, is very dated and possibly of little use today. However much of what is written here is still as true today as it was in 1920. Hard work, dedication to your goals, going the extra mile, maintaining a good and positive attitude, making a difference, all remain vital steps toward success in a business or in life.

Readability/Writing Quality:

For a book written in 1920 it is surprisingly readable. In part this is due to its small size, a pocket edition having only 55 pages which could be easily read by most in a single evening. The chapters are short enough and well written. Quotes he wishes emphasized are in bold.

Notes on Author:

Charles Schwab was a remarkable man. He started as a stake driver, a minimally paid hourly wage earner in Andrew Carnegie's steel mills. He had little education and came from poor roots.

Carnegie took notice of him however because of his charming personality, incredibly positive attitude, great work ethic and willingness to please. He was just the kind of young man Carnegie was looking to mold and develop into executive material. Schwab did not disappoint and he eventually became Carnegie's chief man and the first President of a corporation to earn one million dollars a year in compensation.

Through his wit, intelligence, charm and hard work he engineered the buyout of Carnegie Steel and the creation of US Steel. He then became the first President of US Steel and a short time later President of Bethlehem Steel. He was known as a master motivator of men and Thomas Edison referred to him as a master hustler.

Sadly despite a meteoric rise to incredible riches and power, Schwab came to a very poor end. In the 1920s, after having written this book, he squandered much of his wealth gambling, spending and carousing. He seemed to lose sight of his own roots and senses and became a spendthrift. In time he was in trouble and then the stock market crash of 1929 left him destitute.

In 1939 he died a poor man, deeply in debt, living off of loans in a small London apartment. On his death he owned a large amount of Bethlehem Steel stock, which during the depression was near worthless. Just a couple years later however it became very valuable as the steel industry boomed during the war.

Despite his sad end, Schwab had very clearly demonstrated in his younger years how to succeed and how to go from poverty to riches.

Three Great Ideas You Can Use:

1. Successful men are not natural prodigies. They win by using normal brains to think beyond their manifest daily duty. The look beyond the day's labor and the day's meal.

2. The real test of business greatness is in giving opportunity to others. Many fail in business because they are thinking only of their own personal gain and glory.

3. Personality is a key asset. If you have it, cherish it. If you do not, cultivate it.

Publication Information:

Succeeding With What You Have by Charles M. Schwab

This book is out of copyright however it is published by Executive Books in booklet form, costing less than $2, with a copyright of 2005 by Executive Books, Mechanicsburg, PA.

General Rating: Fair, >Good<, Very Good, Excellent

Daniel R. Murphy writes on success and how you can build wealth. Would you like to learn how others have been successful in business and in life? For a free success eBook and much information which can help make you successful and financially independent visit http://www.bookstowealth.com/. Begin your self-education today learning how others have become successful and rich! Do it today!

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Start Late, Finish Rich - Part One and Part Two

Rapidly approaching retirement age, the subtitle to this book: "A No-Fail Plan for Achieving Financial Freedom at Any Age" definitely grabbed my interest. The cover also states: "It's Never Too Late to be Rich!" Does David Bach's #1 selling book live up to its cover?

This book is part of "The Finish Rich Book Series" by David Bach. One of the more well-known names in the financial guru set, David Bach has written seven consecutive national bestsellers. I have read and passed around "The Automatic Millionaire"-especially to those I know who are younger and still have decades to take advantage of the magic of compound interest.

Whenever I read a book that talks about compound interest and shows the charts comparing how much you will have if you start at 20 vs. starting at 30, I find myself asking: "Why didn't anyone tell me that when I was in my 20s?" The sad thing is, as I'm trying to be that "someone" for the younger people who work for me, or my son and his friends, it seems like the message just falls on deaf ears.

Why is it that when we can most benefit from this kind of information, we "know it all" and don't want to listen? Well, Mr. Bach, I'm listening now!

"The Automatic Millionaire" is a short book and a quick read; "Start Late, Finish Rich" is not. The best way I know of to review this book is to actually review it in parts.

Part One: It's Time to Get It

In the first part of Bach's book, he speaks directly to people like me; people who wish they had heard this stuff when they were younger; people who think they would have been different and actually listened to this advice when they were twenty-something. We look at our savings account and retirement fund, and wonder how we are ever going to catch up to where we should be.

At this point, we aren't even concerned with finishing rich; we just don't want to live on the streets or in a tiny shack eating Alpo. Bach shows how investing $10 or $20 a day for 20 years you can end up with nearly half a million dollars for retirement.

His point in this section is to get you to stop giving yourself 50 lashes with a wet noodle. Regret, anger and fear won't get you anywhere. In fact, those negative emotions are more likely to immobilize you. If you feel like it's hopeless, you won't even try. And if that's where you are, I can guarantee that you won't improve your retirement picture.

Bach's advice is to give yourself a break already! He then gives some inspiring examples of people who started late and finished not just comfortable, not just well-to-do, but rich.

Part Two: Spend Less

In "The Automatic Millionaire" Bach explains his "Latte Factor." In "Start Late, Finish Rich" he talks about finding your "Double Latte Factor." He insists that it isn't how much we earn, but how much we spend - or, perhaps more accurately, how much we save.

The fact is most of us were programmed to spend what we earn. We believe that if we only had the next big thing, we would be happy. It isn't until we learn to control our spending that things become easier and we finally do become happier. The "Double Latte Factor" is about going through your purchases and finding out where you can cut back. Those small purchases can add up to amazingly large amounts over time. If you're getting a late start, you may want to cut back on some things that will actually make the average American think you are a bit strange, like cable TV, for instance.

Another way to spend less is to change your credit card spending. Bach insists that it isn't the credit card debt that's killing us, but the interest. He shows us why we'll never finish rich with credit card debt and how we'll never get out of debt by paying only the monthly minimum. Other tips he gives are to negotiate a lower interest rate with your credit card company and to stop buying things on credit. If you can't pay cash, don't buy it!

Also in Part Two, you will be encouraged to get out of debt but, contrary to many other financial experts, Bach does not recommend paying off your debt first to the exclusion of saving money. He insists that you will lose even more time and compound interest by putting off saving now, and you'll also lose the psychological benefit of saving for your future.

"DOLP your debt out of existence" is another invention of David Bach's. DOLP stands for "dead on last payment". He provides a method of calculating the DOLP number for each of your debts to determine the order you will pay them off. This is similar to the popular debt snowball method.

He wraps up Part Two with advice on Debt Counselors. There are a lot of scam artists out there claiming to want to help you get out of debt. Bach gives you red flags to look for so that you can spot the fakes from the genuine article. Of course, the best way to find an agency to work with is by referral from someone you know and trust. But, for most of us, a debt counseling agency really isn't necessary. You can do this on your own; it just takes some self-discipline and persistence.

Taking control of your spending and getting out of debt are the first two steps to finishing rich - and they are especially essential for those who are starting out late!

My name is Cheree Miller. I'm not a financial counselor or legal advisor. In fact, I've made some poor choices in my life. I've been broke, with creditors calling, writing, and sending court summons. I've had my bank account garnished and wondered how I was going to feed my family. But, I can tell you that you can learn to make good choices where your money is concerned. You can get out of debt if you remain focused on the end goal instead of wallowing around in a pity pool feeling sorry for yourself. Better yet, you can retire rich if you start saving for your retirement now!

Life was meant to be enjoyed. For more resources on getting out of debt and living debt free, visit http://www.imdebtfree.net/. While you're there, sign up for my free newsletter with more tips on how to get and stay debt free, and receive my free report "101 Powerful Tips for Legally Improving Your Credit Score."

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A Review of Value Investing: From Graham to Buffett and Beyond

Anyone who has studied value investing has most likely read The Intelligent Investor and Security Analysis, which is now in its 6th edition. Although less known, Bruce Greenwald's Value Investing: From Graham to Buffett and Beyond, is no less important than the seminal books written by Benjamin Graham. Greenwald systematically lays out the methodology that can best be described as modern value investing. Although the basic principles of value investing haven't changed, Greenwald has done an excellent job of identifying the key components of a value oriented stock analysis and how a company should be valued using a modern Graham and Dodd approach. In my personal experience, following the correct methodology and sticking with it is probably more important for long-term investment success than even superior intelligence. Greenwald clearly lays out the three criteria that are important for investment success: 1) a screening methodology, 2) valuation methodology and 3) sticking with your process through market cycles. Unfortunately, Greenwald doesn't provide much detail on screening techniques and the bulk of the book deals with his approach to value investing.

Chapter 1 begins with an overview of value investing. He discusses various studies that show how mechanistically constructed value portfolios such as low P/B stocks have outperformed the general market indices. He also addresses the main criticism of efficient market theorists, who believe that value portfolios provide outsized returns due to outsized risks. However, he provides a devastating critique by explaining that based on standard risk criteria such as Beta or annual return variability and in my view the more relevant measures of risk such as maximum loss realized or stock reactions to bad news, value based portfolios have outperformed. I'm going to go on a slight tangent here but I want to emphasize that Beta (i.e. historical volatility) is a poor measure of risk. Knowing that you have a low beta portfolio is going to provide you with little solace watching your stock portfolio tank in a bear market. In bear markets stock returns become highly correlated and Beta goes to 1 for everything. Thus, acknowledging the existence of an intrinsic value of a stock and being able to measure it accurately will provide you with the confidence to hold on to your investments even in a bear market. In fact, as any good value investor you'll have the confidence to start going bargain hunting as Mr. market provides you with numerous opportunities to purchase businesses below their intrinsic value.

The book does a good job of outlining how to value a stock but provides limited details on the places to look for undervalued stocks. Greenwald identifies areas such as small cap stocks, downtrodden stocks and spin-offs as areas where to look for undervalued gems. Although these are all good places to start, Greenwald doesn't provide enough additional detail about the criteria he would use to identify interesting long candidates. For example, what factors should an investor focus on to avoid investing in a value trap? In my view, Joel Greenblatt does a better job of explaining where to look for interesting investing opportunities in his book You Can Be a Stock Market Genius. I'll be doing a review of Greenblatt's book as well, but for now we'll get back to Greenwald's book.

The core of the book deals with the three main components of his valuation methodology which are net asset value (NAV), earnings power value (EPV) and growth value (GV). Modern value investing can be seen as a continuum where intrinsic value is first determined by the asset value of the company. Net asset value is the most conservative measure of a stock's value as it is based on the reported assets of a firm based on the latest balance sheet. However, there are a number of adjustments that are made which can be quite subjective. Essentially, Greenwald's NAV analysis attempts to determine how much it would cost for a competitor to recreate a company's balance sheet. Although the analysis is based on the balance sheet there is a great deal of subjectivity as we move from current assets to longer dated assets. The area of greatest subjectivity is how to measure goodwill, which from a reproduction balance sheet perspective measures everything from the value of a brand, customer loyalty and distribution networks. Clearly these components of a company all have significant value but the measurement of these intangible assets is extremely difficult. I think this is the area that needs the most work in terms of developing a better framework under the modern Graham and Dodd approach. In my view, Warren Buffett has been so successful because he's been able to determine the value of these intangible assets with higher degree of accuracy relative to peers. After doing a few NAV analyses, I now understand the difficulty in accurately measuring the value of intangible assets. EPV analysis is similar to DCF analysis but is more conservative because it assumes no growth. Essentially, the firms latest adjusted annualized cash flows are assumed to be sustainable for the indefinite future. EPV is the second most reliable measure of a firm's intrinsic value after NAV as its based on historical and observed values of distributable cash flow. Greenwald does an excellent job of providing relevant valuation examples and case studies using real companies, which helps bridge the gap between theory and practical application. The final and most subjective valuation tool in the modern Graham and Dodd approach is the Growth Value methodology. Greenwald emphasizes that growth valuation should only be utilized when it's clear that a company has a franchise value due to significant and defensible competitive advantages. In the language of Warren Buffett, growth value multiples should only be applied to companies with a wide and deep moat.

The second half of the book provides detailed profiles of eight modern value investors, many of whom are considered legends. The profiles are interesting because the reader is exposed to a practitioner level view of modern value investing. I'm not going to provide a summary of all eight profiles, but I will highlight some of the important lessons that I gleaned from the profile on Warren Buffett. Greenwald states, "while Buffett in the Berkshire years still speaks with reverence about Graham, he looks for companies that have impregnable franchises even though they sell for multiples of book value." It's interesting to see how Buffett has continued to shift and expand the boundaries of what constitutes a value investment. I think his shift from following a strict Graham based approach has been a key factor in his success.

Overall, this book should be read by all students of value investing. Greenwald, a Columbia Business School professor, has expanded and deepened Graham's original work by clearly defining the practice of modern value investing. My main criticisms would be that not enough time was spent on the process of screening. I think the next version of the book should focus more on the screening criteria and the development of a more detailed framework for measuring intangible assets. For those readers who are currently Columbia Business School students, I would recommend taking every course that Professor Greenwald offers. For the rest of us, he actually teaches an executive education course twice a year. At some point I would like to attend and will provide a detailed course review at the Value Investing India Report.

I'm the author of the Value Investing India Report and am an experienced global investor.

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Wallace Wattles PDF Book The Science of Getting Rich: Foundation of Other Law of Attraction Theories

If you take a close look at The Science of Getting Rich by Wallace D. Wattles, you'll soon discover how much this book has influenced the whole Law of Attraction movement. This book is considered one of the most influential books about the power of our mind to create the life we dream about. Here are four keys elements of The Science of Getting Rich PDF by Wallace D. Wattles that, I think, distinguish the book from other law of attraction books:

First, the Science of Getting Rich in available in PDF for free. The book, written in 1910 by Wallace D. Wattles, is now in the public domain. This is the reason why it's available for free download in PDF format. It's not only some excerpts, but the whole book in PDF. Don't assume that because the book is available for free, it means that it is not extremely valuable content. Again, the only reason is the age of the copyright, not the value of the content. In fact, this book is, according to me, one of the most important book about the power of your subconscious mind or the so-called Law of Attraction. In fact, The Science of Getting Rich is still inspiring many extremely successful entrepreneurs, a century after Wallace D. Wattles exposed this secret to the world.

Second, Many well-known Law of Attraction theories are based on this exact Science of Getting Rich book, now available to you in PDF. Ronda Rhymes, author of the unbelievable success The Secret, refers to this book as one of the turning point of her life. The same thing is true of Bob Proctor, also a very successful Law of Attraction guru. Even those who don't explicitly talk about The Science of Getting Rich were greatly inspired by it. If you have read other books about the power of the mind, you surely noticed that they are very similar to the original book by Wallace D. Wattles, written in 1910. The vast majority of other theories were greatly influenced by The Science of Getting Rich, available for everyone in PDF.

Third, Where other teach that you can control everything with your mind, The Science of Getting Rich insists on taking ACTIONS. Wallace D. Wattles is clear about this fact in 2 chapters called "Acting in a Certain Way" and "Efficient Action". In fact, Wattles even warns us against the temptation of relying solely on the power of the mind to attract riches to our life. According to the author of The Science of Getting Rich, the lack of focus on Actions is the most important reason why so many other theories about the power of the mind fail. As Mr. Wattles says it, by cultivating a certain state of mind, you may "attract" the things you want... but it is only through efficient actions that you will get what you want. The Science of Getting Rich doesn't ask people to work like workaholics, but to act efficiently.

Fourth, The last key element of The Science of Getting Rich is its central focus on getting rich. Mr. Wattles didn't want us to be contented with a little. The PDF book does not suggest that being really rich means having great friends, family, a great spiritual life, being healthy, or else. The book talks about getting rich. That's it. Sure, some will find that the same principles could be applied to other aspects of their life. Sure, some will feel more calm and at peace when reading the PDF of The Science of Getting Rich. It's perfectly fine. Mr. Wattles, however, by writing The Science of Getting Rich book, wanted us to become really rich, financially, and not only emotionally of spiritually.

Those four points are, according to me, some key differences between The Science of Getting Rich book, available in PDF for copyright reasons, and other Law of Attraction books.

If you are interested in the Law of Attraction or the power of the Subconscious Mind, you can download the Science of Getting Rich pdf here.

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Success Stories by Robert T. Kiyosaki - Book Review

Title and Author: Success Stories by Robert T. Kiyosaki

Synopsis of Content:

In 1997 Robert T. Kiyosaki published his first book in a series called Rich Dad, Poor Dad. It was about the difference between the way wealthy people think and function and the way poor people do the same. Following that book have come a number of sequels and follow ups. In 2003 he published this work, a study of 22 people who had applied the principles from Kiyosaki's writing and succeeded.

It is not necessary to read any of Kiyosaki's previous works to gain something from this book but it would be very helpful to at least read Rich Dad, Poor Dad to get a basic understanding of the principles that he taught in that book and that influenced the stories you will read in this one.

Each story is instructive in its own right. They illustrate how ordinary people learned basic principles of wealth and applied them to become successful. Perhaps the most valuable aspect of these books is that they teach us all that anyone can do this. This is not limited to the smartest, the youngest, the best situated.

While these books are instructive in how they describe how each person used the principles to expand their wealth they also serve to inspire and motivate. For the person struggling in this area this is an excellent motivational book.

A word of caution: neither author is a certified financial advisor. There is no independent verification of their skill level in investments or of their own personal performance.

Readability/Writing Quality:

This like all of Kiyosaki's books is easy to read. These books would benefit from more vigorous editing at times and can be redundant, but they are well organized and easy to follow.

Notes on Author:

Robert T. Kiyosaki is a self described entrepreneur. He tells the story of his life as a boy in Hawaii where two people influenced him greatly, his father who was a university professor and a rich man, father of a friend, who taught him how the financially successful think and operate. He has written a number of books on investing, building wealth and real estate.

Publication Information:

Success Stories by Robert T. Kiyosaki with Sharon L. Lechter, CPA. Copyright 2003 by Robert T. Kiyosaki with Sharon L. Lechter. Published by Warner Business Books.

Rating for this Book

Overall Rating for Book: Good

Writing Style: Easy to read and follow.

Usefulness: More inspirational than instructional but serves both purposes.

Daniel R. Murphy writes about success and building true wealth on the Creating True Wealth Blog. Read articles and book reviews of the best books on success, personal development and building wealth. Go to the http://www.ctwblog.com/ now and sign up for a free weekly newsletter bringing you book reviews and other wealth information every week.

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The 10th Step Toward Riches: The Mystery Of Sex: Transmutation

In this chapter of THINK AND GROW RICH, Napoleon Hill talks about the fact that through sexual intercourse, we perpetuate mankind, that sexual intercourse has a therapeutic effect on those who engage in it, and that if we transmute, transfer our sexual energy into developing our creative mind, we will come up with plans that we had not envisaged before. He talks about transferring one form of energy into another. Meaning that instead of focusing on sex we focus on something else, turn that energy into another form of expression. Sexual desire is apparently the most powerful of all desires and when men are driven by their desire for sex, they develop a keen sense of imagination, courage, will-power, persistence and creative ability unknown to them before. The desire for sexual contact can be so strong that men have often taken risks including soiling their reputation to indulge in the pleasures of sex. This applies to both sexes by the way, not just to men. N H explains that when we decide to transfer our sexual appetite or urges, into something else, our keen sense of imagination, courage, will-power, persistence and creative ability, will be just as strong but channelled towards something other than sex. He also says that our sexual desire should not be submerged or eliminated but simply a different outlet. Channel all that sexual energy into creating some piece of art for instance whether it be a beautiful painting, a piece of writing, wherever we feel we have a passion which must be developed, through which we feel for instance that we could find a way to become wealthy.

According to a scientific research mentioned in the book, high achievers also have a high sex drive, they have learnt "the art of sex transmutation", channelling their urges into something else and dedicate themselves to it with all the energy they would have for sex. N H also adds that wealthy men and those who have achieved recognition in literature, art, industry, architecture etcetera were often motivated by the influence of a woman. Research was conducted on the matter going back up to 2000 years before THINK AND GROW RICH was even written.

"...transmutation of sex energy may lead one to the status of a genius...a man who has discovered how to increase the vibrations of thought to the point where he can freely communicate with sources of knowledge not available through the ordinary rate of vibration of thought". Simply put, genius is attained when we reach a level with our thoughts which surpasses even our own understanding. If you doubt this, just go back to all the things that were invented just over the past 15 years, how do you think the first computer, the internet, the iphone, the blackberry and let's go back even to the first washing machine, does anyone remember the 1 we had to empty manually and refill to rinse? All these inventions and countless others were born out of the imagination of geniuses who reached that status with their mind simply because they knew to channel their sexual urges and all their energy into their creative imagination and let it take over. Although sexual appetite and or energy is the creative energy of all geniuses, that does not mean that all who have a high sex drive are geniuses. The emphasis is put here on the fact that it is only when that energy for physical contact is transferred into some other form of desire and action, that our creative side, creative imagination is given free reign and we attain the level of genius.

Don't fret wondering whether or not we should stop having sexual intercourse, Napoleon Hill just wants us to understand the importance of self-control in every area of our lives.

My goal is to help you realise that your success is entirely up to you, it is not dependent on circumstances or just luck. Anyone can become successful as long as they understand and apply The Law Of Attraction. For help and more information go to: http://www.whatispersonaldevelopment.co.uk/ to start building the life you want.

From my site you can get a free copy of THINK AND GROW RICH
You can purchase my first ebook YOUR MIND THE MOST POWERFUL TOOL YOU'LL EVER NEED from AMAZON.COM or AMAZAON.CO.UK

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The 12 Wealth Secrets by Robert Stuberg

Everyone dreams of earning more money, but most do not believe that it is possible. Do you yearn for more time with your children, family, and friends? The majority of hard-working individuals spend most of their time working, but yet never have the opportunity to enjoy the money they make because all of it goes to bills. Working to live and working to make a living are two completely different things. Chances are, the money you make is only enough to pay the rent and put food on the table. The 12 Wealth Secrets by Robert Stuberg teaches you how to attract more wealth and opens up your eyes to the realization that you can have what you want.

This program provides you with an enormous amount of money-making secrets. It teaches you how to make money doing the things that you love. Instead of going out and spending four years of your life in a college or university, you're spending your time utilizing the skills that you already possess. Who doesn't dream of doing what they love?

The 12 Wealth Secrets by Robert Stuberg also teaches you how to make more money and also how to hold onto the money you make. One of the greatest downfalls of all mankind is their inability to save. Do you reach for your debit card before your money has even had a chance to hit the bank? If so, you're going to end up more broke than you had ever imagined possible. Debt is no longer looked at as a problem, but a crisis as well. It's a huge burden that millions of people face each day and the effects can be devastating and long-lasting.

Another benefit that this program provides is helping you to change your mind about the way you look at money. If you have yet to attain the level of success you wish for, you've probably been heading in the wrong direction. Perhaps you have no direction, or maybe you're just downright lazy. The 12 Wealth Secrets by Robert Stuberg will help you to understand that regardless of your level of education or experience, the money that you want can be yours.

Robert Stuberg's motivational series also talks about gift-giving and how it can benefit you. You don't necessarily have to be rich to provide your loved one's with gifts. Providing gifts can come back to you ten-fold, helping to add to your wealth and success. In addition, you'll learn about how to avoid letting money problems affect your relationships. Making more money will help you to resolve all of your debt problems, affecting your life for the better, eliminating all stress in relation to financial security.

The 12 Wealth Secrets by Robert Stuberg also discusses in detail the secret to making intelligent investments. Too many people are throwing away their fortunes due to excessive gambling when it comes to investing. There is a chance that you may lose everything if you make the wrong decision. The key is to know where your money is going and to have confidence in the fact that your investments will grow rather than dwindle down the drain.

This guide is meant for the individual who wants to spend more time on vacation. The last thing anyone wants for themselves is to spend their lives in constant worry over bills. Unfortunately, many people have done just that. The only way to solve all your financial worries is to make more money. The 12 Wealth Secrets by Robert Stuberg will teach you how to make more money, providing you with concrete examples and steps that you can follow easily, quickly producing enormous monetary results.

Please visit The Personal Development Company if you would like to learn more about The 12 Wealth Secrets by Robert Stuberg

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Wealth Without Risk by Saen Higgins

I don't know if you've heard about Wealth Without Risk, a program by Saen Higgins that claims to be able to make its users wealthy without risk. Saen Higgins has his own infomercial and the product looked like it could actually work. I thought that this guy was interesting; Every time I looked up Wealth Without Risk online, people wrote that Saen Higgins worked. I was still curious, so I bought the book and I realized that in fact, everything that he says in his book makes complete sense. Let me break it down for you:

1. People don't to pay their property tax. I don't know why, but sometimes people are busy and they forget. Maybe they're in a terrible financial situation and they just can't pay off their property tax at that time.

2. YOU pay off their property tax. Depending on the county and the state, there is a redemption period ranging from 3 to 5 years. This gives the current owner of the property a grace time to pay off their property tax (with interest), which goes directly to YOU. The interest can be up to 25% so imagine how much money you could make depending on the tax lien certificates that you purchase!

3. Since the wait time can be up to four years, don't expect to get your money right away. Once the redemption period has run out, and the current owner STILL hasn't paid you back, their home goes into foreclosure and you then have a chance to take their property.

4. When a house goes into foreclosure, the bank becomes the new owner and since the bank absolutely does not want to give you a home for about a couple hundred dollars, they will pay you the money that you are owed instead.

It really is easy money, you just have to do your research and it takes more time than you want. The thing with infomercials is that people just expect money to magically fall out of thin air once they purchase Wealth Without Risk, which it doesn't. It takes a bit more time and the Saen Higgins website gives you advice and tips to help you not to make mistakes that other people go through when trying to do this on their own.

Overall, it's a solid product and everything is true, which is why other gurus have tried releasing their own products that are virtually identical to Wealth Without Risk. It's not a scam; it's a real system and people have been investing in tax liens for years.

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Start Smart Finish Rich by David Bach

One of the biggest problems that people tend to have these days is a lack of money. If you are suffering from this terrifying condition then there are a few ways that you can take control of your situation, one being to learn some better money management techniques. Of course, that isn't going to work, considering that making money in the first place can be extremely difficult. Luckily, there are a few ways in which you can take control of your income, one of which is by using Start Smart Finish Rich by David Bach.

This CD, Start Smart Finish Rich is one of the hottest new CD's in the industry narrated by one of the greatest financial minds and New York Times bestselling author. Not only is this a high quality audio book, it also teaches you to take the path to becoming rich, and finding that path might be simpler thank you think.

The 'Finish Rich' wisdom has sold almost three million books, and this wisdom has taught many the 'steps' to becoming an overnight millionaire. You won't find any cryptic puzzles here and you won't find any misleading information. What you will find is a book that lays out and details a plan that will take you from an ordinary person to a millionaire in a few easy steps.

No matter your age, and no matter what your walk of life happens to be, you will find that it is entirely possible to gain the lifestyle you want. If you want it all then why shouldn't you have it all? David Bach has written a number of world famous titles including Start Late Finish Rich, The Automatic Millionaire Workbook, Smart Women Finish Rich, and a number of others. Not only is he a bestselling author, he has appeared on the Oprah Winfrey Show a couple of times and currently contributes to CNN's American Morning.

His Finish Rich seminars are some of the top financial seminars in North America, and experts state that his methods can be easily emulated. Any direct seller can take advantage of this method, and through direct selling they can easily gain the money that they've always dreamed of. The only question now is whether you are ready and willing to take control of your life and start living in the way nature intended.

We live in a world that is very specific about who succeeds and who fails, but what if you could get on top of the system? What if you could be the one on top, and what if you cold discover millions of dollars of untapped potential? It sounds a bit overwhelming, and it may sound far-fetched, but with this book by David Bach takes the concept from a simple idea to a robust reality. Today is the day you take control of your destiny, and today is the day you start living the way you deserve. Are you ready to be rich?

Please visit The Personal Development Company if you would like to learn more about Start Smart Finish Rich by David Bach

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How To Win The Lottery - How To Improve Your Chances Of Winning The Lottery - 3 Great Tips

Many Lottery players would like to know how to win the lottery. The ability to pick the winning lottery numbers has been the dream of many a lottery enthusiast. They purchase tickets like clockwork every week and account for the bulk of the revenue generated by the lotteries. More than often however, they purchase out of habit without giving much thought to how they can improve their chances of winning.

If they were to stop and think about this for a minute, they would realise that there are a number of good systems on the market today that can definitely help them increase their chances dramatically. I read a review recently about a mathematics professor who spent many years studying lottery systems in an effort to unlock the code of picking the winning numbers.

He eventually succeeded and came up with a formulae that has proved to be consistently successful based on numerical combinations and patterns formulated over time. It's systems like this with a proven track record that can definitely help you increase your chances of winning.

Three great tips to improve your success in winning the lottery

1. Have a good system to follow. This will increase your odds of winning the lottery dramatically. For the cost of a proven system you will save yourself thousands and get the best returns for a small investment. The best systems will have a tried and proven track record, be user friendly and easy to implement and understand.

2. Get a system that is affordable, with a solid platform that uses numerical combinations and patterns. Some systems include numerous templates that you can use to apply certain number selection methods to cover most combinations. And of course while affordable make sure your system includes a solid money back guarantee.

3. Don't be afraid to try at least two or three systems that are achieving great results. You may find using a combination of two systems the best method of getting the results you desire. Remember consistency is the name of the game, if at first you don't succeed...

A final thought...it is a proven fact that by using a good system you will increase the odds in your favour dramatically and this is the very reason you buy lottery tickets to win a major prize. You can also optimize your chances to survive the early stages of a draw which not only brings you closer to the 6 winning numbers you want, but will always result in you having a better chance of winning a lower-tier prize as well.

You still need a bit of luck obviously, but it's all about having an accurate number selection system that is easy to apply, understand, affordable and produces positive results. To find out more information about systems that meet these requirements have a look at my recommendations below.

These two systems can dramatically improve your chances of winning the lottery, they come with 100% money back guarantees, so you can't lose The Lotto Black Book try this 100% risk free system as well The Inverted Lottery System To your success

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How to Read the Financial Pages

The issue of finance is very critical to the day-to-day operation of corporate organisations. Therefore, everybody needs to be financially knowledgeable. This is why it is important to review this book "How to Read the Financial Pages", written by Michael Brett. Brett is a freelance financial journalist, former editor of the "Investor's Chronicle" and a frequent lecturer on financial topics.

According to Brett, this text has for more than ten years been an outstanding first-choice buy for everyone who wants a thorough but friendly grounding in finance and investments. This author says stripping away the mystique from the world of investment and finance, the text is a layman's guide to reading and understanding the financial press and the markets and events it covers.

Brett adds that assuming no financial knowledge, the text offers a valuable explanation of the workings of the financial world, from money markets to commodity markets, investment ratios to take-over bids.

This text contains 23 chapters. Chapter one is entitled "First principles". According to Brett here, write about money, and you cannot entirely avoid technical terms. He says the simplest terms and concepts need to be dealt with at the outset because they will crop up time and again. "Fundamental to all financial markets is the idea of earning a return on money. Money has to work for its owner," submits this author.

He says in summary, money can be deposited to produce an income and can be used to buy commodities or goods which are expected to rise in value but may not, or it can be invested directly or indirectly in the stock market securities which normally produce an income but show capital gains or losses as well.

This author stresses that there are many variations on each of these themes, but you need to keep the principles in mind and the variations fall into place. As regards markets and interest rates, Brett explains that for each type of investment and/or many of their derivatives, there is a market. He adds that there is a market in money in London and it is not a physical marketplace as dealings take place over the telephone and the price a borrower pays for the use of money is the interest rate.

In Brett's words, "There is a market of currencies: the foreign exchange or forex market. There are markets in commodities. And there are markets in government bonds and company shares: the main domestic market here is the London Stock Exchange. Much of what you read in the financial press concerns these markets, their movements and the investments that are dealt on them."

He asserts that the important point is that no market is entirely independent of others and the linking factor is the cost of money. This author says if interest rates rise or fall, there is likely to be a ripple of movement through all the financial markets. He educates that this is the most important single mechanism in the financial sphere and it lies behind a great deal of what is written in the financial press: from discussion of mortgage rates to reasons for movements in the gilt-edged securities market.

"Money will gravitate to where it earns the best return, commensurate with the risk the investor is preferred to take and the length of time for which he can tie up his money," asserts Brett.

Chapter two is based on the subject matter of money flowing and the money men. According to this author here, when a financial journalist describes somebody as "an eminent City figure", he or she probably means what he or she says because the man may be a senior member of the banking establishment. Brett adds that if a journalist describes somebody as "the controversial City financier", "he's probably coming as close as he dares within the libel laws to calling him a financial spiv!"

But what exactly is this 'City' which harbours these characters and many more? asks this author. He says it is of course a geographical area on the east side of Central London, often described as the Square Mile, adding that 'The City' is more often used as a convenient blanket term for the commercial institutions at the heart of Britain's financial system. Brett educates that they do not necessarily operate within the square mile of the City of London, though a surprising number of them do.

He says they provide the financial services that oil the wheels of industry and trade. According to him, one of the more common criticisms of the City is that it is too remote from Britain's own productive industries. Brett says whereas some parts of the City have always been international in outlook, the big change of the last 20 years is the internationalisation of even the most traditional domestic institutions such as the London Stock Exchange. "The City is a major source of invisible earnings for Britain's balance of payments. Financial services generated net overseas earnings of almost 32 billion pounds in 1998," he discloses.

In chapters three to ten, this author examines concepts such as companies and their accounts; the investment ratios; refining the figurework; equities and the stock exchange; what moves share prices in normal times and in the crash of '87; stock market launches; issuing more shares and buying shares back; and bidders, victims and lawmakers.

Chapter 11 is entitled "Venture capital and leveraged buy-outs". According to Brett here, to satisfy different financing needs, there has been rapid growth in venture capital funds, organisations that provide finance, sometimes a mixture of equity and loans, but often just one or the other, for unquoted companies.

This author says, "Because it is provided to finance unlisted companies, equity finance of this kind is often referred to as private equity. Many of the venture capital funds are offshoots of existing financial institutions: clearing or merchant banks, insurance companies or pension funds."

He educates that another tax-favoured investment vehicle designed to encourage risk investment in private businesses is the venture capital trust. A venture capital trust needs to hold at least 70 per cent of its investments in unquoted trading companies: broadly, the same sort of company as would qualify for Enterprise Investment Scheme, adds Brett.

This expert stresses that the venture capital trust itself is much like an ordinary investment and must be quoted on the stock exchange.

In chapters 12 to19, the author analytically X-rays concepts such as pay, perks and reverse capitalism; government and company bonds; banks, borrowers and bad debts; the money markets; foreign exchange and the euro; international money; financial derivatives and commodities; and insurance and Lloyd's after the troubles.

Chapter 20 is entitled "Commercial property and markets crashes". According to this author, commercial property (that is, office buildings, shops, factories and warehouses) has been one of the major avenues for investment by the insurance companies and pension funds. Brett adds that it was less popular at the end of the millennium than it once was.

He says there is, however, no central marketplace in commercial property, stressing that the "market" is largely organised by the major firms of chartered surveyors or estate agents. Brett expatiates that these firms provide a range of property investment services. "They advise on property portfolios, often manage portfolios on behalf of institutions, provide valuations, negotiate lettings, purchases and sales and assist in arranging finance for developments," adds the author.

In chapters 21 to 23, Brett beams his intellectual searchlight on concepts such as savings, pooled investment and tax shelters; supervising the City; and the financial pages as regards print and Internet.

As regards style, the book is a success. For instance, the book is well presented and the language is standard and simple, thus enhancing easy understanding of the subject matter in spite of the technicality of terms. The stylistic success is expected, given that Brett is a freelance financial journalist and by implication, a financial communicator.

The depth of research of the book is also commendable.

However, the definite article "The" constitutes structural redundancy in the title of the book. That is, the title should have been "How to Read Financial Pages" not "How to Read the Financial Pages".

Generally, this text is a masterpiece on financial education. It is highly recommended to anybody that is ready to broaden his or her knowledge financially.

GOKE ILESANMI, Editor-in-Chief/CEO of http://www.gokeilesanmi.com/ and Managing Consultant/CEO of Gokmar Communication Consulting, is a Certified Public Speaker/Emcee, (Business) Communication Specialist, Motivational Speaker, Career Management Coach, Renowned Book Reviewer, Corporate Leadership Expert and Editorial Consultant.
Tel: +234(0)8055068773; +234(0)8056030424
Email: info@gokeilesanmi.com; gokeiles2010@gmail.com

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Enough by John C Bogle - A Book Review

Title and Author: Enough. By John C. Bogle

Synopsis of Content:

John Bogle, the renowned founder of the Vanguard 500 Fund and a "good guy" on Wall Street has written a fabulous book for our times. In "Enough." Bogle describes what has really gone wrong with Wall Street and the financial profession at the same time that he passes on some wonderful and time tested investment tips and principles. The general theme of his thesis as set out in David Brooks' New York Times editorial piece which Bogle uses as an introduction is that America's great financial and business tradition has been, until relatively recently, based on ideals of industriousness, ambition and frugality. Of course there were exceptions, but they proved the rule.

Bogle demonstrates how there is too much cost and not enough value in money based on what Bogle describes as excessive fees and costs for investment funds and other vehicles. In Too Much Speculation and not Enough Investment he exposes the lack of performance of the speculative investment model and the comparative soundness of the long time investment model upon which of course the Vanguard fund is based.

Bogle also addresses the issues of trust, professional standards, stewardship concepts and leadership in both business and finance or more to the point the lack of those qualities today.

However he does not leave the general public out of the picture. We too, he insists, are too interested in things, not enough on commitment, too much on so called 21st century values and not enough on 18th century values - too much on success and not enough on character.

He wraps up with a look at what it is in all this for me and you and for the future of our nation.

This book is partly about Bogle's journey through the financial profession, partly about the changes he caused and the changes he witnessed, partly it is about what is wrong with our commercial and political system and our own belief systems, and partly it is a healthy dose of old fashioned ideas that we may be in dire need of revisiting.

This is an outstanding book on many levels. Bogle's tour of what is right and wrong with the financial industry should be required reading at the White House, in Congress and in America's homes. His prescriptions for reform deserve some attention and consideration. Perhaps most importantly his suggestions for what you can and should do to protect your financial future are well worth reading about.

Readability/Writing Quality:

The book is well written and easy to follow. It flows well, is well organized and is as entertaining as it is informative.

Notes on Author:

John C. Bogle is the founder and past CEO of the Vanguard Mutual Fund Group and President of Bogle Financial Markets Research Center, a foundation he founded on his "retirement" from his CEO position. In 1999 Fortune magazine named Bogle one of the four investment giants of the 20th century and in 2004 Time named him one of the world's most powerful and influential people. He has written 7 books including his 2007 best seller, The Little Book of Common Sense Investing (Wiley).

Three Great Ideas You Can Use:

1. Follow the lead of the likes of Warren Buffet, Charlie Munger and John C. Bogle - invest for the long term in quality investments with sufficient diversification to protect your interests - avoid the temptations of day trading, rising stars, quick turn profits and other speculative investment schemes. Likewise, avoid brokers and funds which represent that they do these things.

2. Past performance never adequately predicts future performance in the market - but adherence to prudence and principle is a sound basis for investing just as it is a sound basis for other important areas of life.

3. As a nation and as individuals we would all do well to re-examine the principles and wisdom of the Age of Reason that our forefathers used to establish this nation and to build it into the most successful enterprise in human history.

Publication Information: Enough. By John C. Bogle ? 2009 by John C. Bogle. Published by John Wiley & Sons.

General Rating: Excellent

Daniel R. Murphy writes on success and how you can build wealth. Would you like to learn how others have been successful in business and in life? For a free success ebook and much information which can help make you successful and financially independent visit http://www.bookstowealth.com/. Begin your self-education today learning how others have become successful and rich! Do it today!

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Rich Dad's Prophecy, by Robert Kiyosaki - Review

If You Could Know the Future, Would You Invest Differently?

Rich Dad's Prophecy is the book by Robert Kiyosaki that is subtitled:

Why the Biggest Stock Market Crash in History Is Still Coming...

and How You Can Prepare Yourself and Profit from It!

This book was written (with Kiyosaki's co-author and partner, Sharon Lechter, C.P.A.) in 2002. All of the predictions made in this book are right on track - if not ahead of schedule.

The primary "prophecy" is that a MAJOR stock market upheaval is coming in 2016. This is the year when an estimated 2,282,887 "baby boomers" turn 70 - and are required BY LAW to make mandatory withdrawals from their 401 (k) accounts. In 2017, the number of people turning 70 jumps by 700,000 to 2,928,818, and keeps increasing every year thereafter.

What does this mean? Since the creation of the pre-tax retirement funds, Americans have been given incentives to place/spend their savings on stocks and mutual funds. Markets move up ONLY when more people are buying than selling. 2016 is the year when an astronomical bubble of retirees are forced to make withdrawals. This is stipulated in the law that created 401(k) accounts specifically so that taxes would be due and payable to the Federal government NOT LATER than beginning at age 70.

Kiyosaki tells the story of his "Rich Dad's Prophecy" based on the enactment of "ERISA" (The Employee Retirement Income Security Act of 1974.) What his "rich dad" foresaw were the problems of passing control of retirement funding to individuals. These problems include:

1. Most people don't save anything, or way less than needed for retirement and medical expenses - which continue to increase.

2. Those who created 401 (k) accounts were forced to become "investors", an activity previously reserved for wealthy (and educated) speculators. In the process, the stock market was flooded with funds.

This is exactly what happened:

- Most people without corporate pensions - replaced by optional 401 (k) plans - went right on spending their money on material goods and saving little or nothing (in fact, racking up record amounts of consumer debt.)

- The minority of workers who created investment accounts (still numbering in the millions) injected billions into stocks and mutual funds. The stock market surged to record levels with the inflow of cash.

Note: it is no coincidence that the passage of ERISA in 1974 is the bottom of the market, following a crash in 1973-1974 to less than 600 Dow Jones Industrial Average. 1974 was also the center of a recession brought on by the Mideast "oil embargo" and the "Nixon Shock" following the removal of the dollar from the gold standard.

As Kiyosaki's Rich Dad predicted, "Always watch for changes in the law. Every time a law changes, the future changes."

All this background sets the stage for the predicted crash in 2016. With more than 2 million retirees forced to sell stocks (and pay taxes on any gains) the market MUST contract - or implode!

Kiyosaki wrote this book that foresees the impending crash in 2002. This is BEFORE the financial collapse of 2007-2008 (which is continuing today.) During this crash, the market lost 50% of its value from a high of 14,000. (It has since regained 85% back to 12,000.)

Americans continue to have pitiful savings rates. In addition, record unemployment brought on by the current recession has forced many who DID save and invest to drain their retirement accounts. The number of new wage earners will not offset the number of people retiring. After years of recession, there are actually fewer people employed, they are making less and investing less.

Combine theses problems and you have a market in an irreversible decline. As millions of other workers watch the value of their investments and retirement accounts decline and they will also start selling - trying to salvage what value remains even if they have to pay penalties.

The process continues, and the market spirals downward at an accelerated pace! In the process, the retirement savings and investment accounts of millions will be wiped out.

Bottom Line: the prediction of a 2016 crash is likely optimistic! It may be here sooner since retirees can withdraw funds earlier - they will only delay withdrawals until age 70 if they don't need the cash earlier!

Kiyosaki balances the dire prophecy with optimistic advice, specifically how to build your "financial ark". He writes, "Sometimes your greatest opportunities come at the greatest times of crisis. And for those that have positioned themselves well, it's not about surviving disaster but rather achieving financial independence and wealth."

He continues, "But this is not something to fear. Rich Dad's Prophecy reveals not only the best ways to safeguard wealth but how to actually prosper from the events to come. The fears, dreams and actions of the baby boomers will control our economic future. You should consider building your own personal financial ark to stay afloat in the turbulent waters ahead. In Rich Dad's Prophecy, you'll discover how to prepare to prosper from the coming financial disaster. It's a must-read for those who want to maintain and grow their wealth in the coming years."

Rich Dad's Prophecy will do more than educate you about the predicted stock market crash. You will learn how to build your own personal "financial ark" that will assure that you not only survive the storm, but profit from the coming turbulence. To learn more about Rich Dad's Prophecy - as well as Kiyosaki's other books, resources and seminars - please visit the Rich Dad website at RichDad.com.

Randy Reek writes articles about making money from a base of over 30 years of business success. Randy has been a top salesman in retail and wholesale sales; consumer and business-to-business settings. He has also operated his own successful mail-order business.
Visit randyreek.com for information and opinions on making money, saving money, and your place in the global economy.
For more information on specifically on finances in the new world economy, see the Finance section at randyreek.com/finances

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Book Summary: The Brower Quadrant - Live Life Deliberately - Written by Lee Brower

Do you ever think about generational transfer of wealth, fiscal accountability and contribution? The statistics for generational wealth hitting the 3rd generation are dismal. Basically, the first generation busts ass and creates something great. The second generation leverages the knowledge and the experience and expands the enterprise because they grew up seeing the work ethic and ingenuity exerted by the first generation. Now comes the third generation that basically is handed over the keys without doing the work and the enterprise dies. This is the fault of the second generation teachings and the third generation entitlement mindset.

Why is this important to me?
If you have a business and you are building your net worth and want to pass it along then this is critically important to you. Do you know that 90% of lottery winners are broke in 5 years and end up in worse shape than when they started? This is even worse for ex-athletes. Athletes are good at what they do and they simply think they are good in business because they have the money. Just like athletics, creating wealth is a science that takes hard/smart work and dedication.

Anybody who says that they will go into business and succeed without the work is no different than me saying I will start for at tailback for the Dallas Cowboys next year. Both are very unrealistic but most people don't see it that way for business. Education is critical along with hard/smart work.

The Brower Quadrant is broken down into three key parts. For the sake of time, I will define what the quadrant is and then touch on how to start living it.

1. What is the Brower Quadrant? The Brower Quadrant consists of four components. The first component is the "CORE". This is your special talents and what drives you as a person. If you are a musician, athlete, artists or business person, the core is what defines you. The "EXPERIENCE" quadrant is all the experiences that define you and your family. This is important and needs to be captured and put into story format. Example: My grandfather came over to this country by himself when he was 9 years old on a ship across the Atlantic Ocean. Put this into perspective as most 9 year old kids today are not even allowed to be outside after 5:00 in a good neighborhood. Unfortunately, I was too young when he died and I was not able to capture the whole story to share. The experiences that shape your personality and your core need to be captured and shared. They may seem trivial to you but are important because they define what you do and how you do it.

The "CONTRIBUTION" Quadrant is next. This is where you instill an attitude of gratitude and open up your heart. I realize this is esoteric but I cannot tell you how many books I have read that say the same thing. Basically this is Emerson's law of compensation - If you want more then give more.

The "FINANCIAL QUADRANT" is the money and wealth preservation quadrant. Most Estate planning people will simply show you how to minimize tax liability and ask you how you want to divide up the assets once you go down for the dirt nap. Lee takes a whole different approach and shows you how to continue to grow your financial position with the Family Empowered Bank and pass it from generation to generation. The Brower Quadrant is the solution to fleeting wealth across generations.

2. Why is the Brower Quadrant important? I touched on this above but it bears repeating. Each of the quadrants can be thought of as assets. Family knowledge and skill sets are typically taken for granted and lost. Most hard working business people lose their businesses to their heirs. This also creates family stress and torn relationships. I can personally attest to this. Our business consisted of extended family and the entitlement of one of the partners was absolutely despicable and it tore the family apart and ended up in court.

3. How does it work? Lee says it best in a chapter subtitle - "Family Leadership". This is much more than estate planning. Leadership requires vision, clarity, action, communication, influence and a whole host of other attributes. Implementing the Brower Quadrant requires clarity in each quadrant with a set of action plans that are communicated and acted upon.

The Brower Quadrant is required reading for anybody interested in preserving and building wealth across generations. Lee does an excellent job of outlining what is needed and gives additional resources. I started implementing some of the things in the book and will continue to implement all of it as our family and business grows.

I hope you have found this short video summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is the difference between Family Leadership & Estate Planning. These two concepts are very different and Estate Planning is simply a very small subset of Family Leadership and the Brower Quadrant.

Joe Mosed invites you to subscribe to http://www.successprogress.com/ to receive free video book summaries. Our vision at Success Progress is to provide relevant & meaningful content to our user community. To view the video summary of this article please visit http://www.youtube.com/successprogress

(c) Copyright - Joe Mosed / Success Progress All Rights Reserved Worldwide.

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Multiple Streams of Internet Income by Robert G Allen - Book Review

Title and Author: Multiple Streams of Internet Income by Robert G. Allen

Synopsis of Content:

Allen's thesis here is threefold: first, that you can make serious money on the internet, that it is the gold mine of the future; second, that in order to maximize internet opportunities you must exploit several of them, or what he calls multiple streams, and third, done right this is a fast way to make profits.

The strength in this book is the innumerable tips and tricks that a person new to internet commerce would not know but a veteran likely would. The important websites and internet resources alone are probably worth the price of the book if you are starting out on the web or even are fairly new to this. Another strength of the book is the myriad of ideas it suggests for you. You can and should return to this book time and again to mine from it the gems of information that can lead you to opportunities. This is not a detailed how-to manual. It is a great survey of the basic ways that people are making money on the internet.

The chief weaknesses of the book are that it makes assumptions that may not be valid for the inexperienced reader and it promises too much too easily. Typical of the Allen approach, he is short on the obstacles and limitations and long on the promise for wealth and ease of effort. For example he discusses how quickly you can generate rapid sales from a well written sales letter by email but fails to tell the reader that this only works when you have built up a very impressive email opt in list and that they take either a lot of money or a lot of time and effort to create.

If you can bear that caveat in mind and remind yourself that there are no get rich quick schemes (at least none that are legal) you can still benefit significantly from this book.

I have not seen an all around basic introduction into the many opportunities to make money on the internet that is better than this one or more comprehensive. If you want to see the opportunities out there and get excited about following one or more such "streams" this book is a great introduction and a good motivator. Just remember there is a whole lot of work and a lot more education needed to accomplish the kinds of income flows that Allen suggests are easy to do. This book may well be the start of your internet wealth library but only the start - it will take a lot more to get you there.

One principle that Allen teaches here however is worth a comment as it is very true and very important: it is critical to set up multiple sources or "streams" of income on the internet because you are not like to find any one source that is perfect or last forever. Many internet sales systems burn out over time and new "campaigns" need to be launched to capture more sales.

This book was written in 2001 and is therefore very dated. The internet and internet commerce is changing rapidly. When he wrote this there were no social media such as Facebook and very little use of video on the web. On a conceptual level Allen's book remains relevant but on a technical level much has changed since he wrote it.

Readability/Writing Quality:

This book is easy to read. Allen writes clearly and makes it all interesting. He uses lots of sub titles and organizes the information well. He uses text boxes with supplemental information, many of which contain gems worth more than the regular text.

Notes on Author:

Robert Allen is an author who has written on wealth building for many years. He started out with a book called No Money Down about how to buy real estate for no money down. A great deal has been written over the years about the validity of Allen's real estate theories. I will leave that to another time and place when we do an author feature on him. For now it is enough to remind the reader that Allen is long on motivation and promises of the possibilities and short on acknowledging what can go wrong, where the weaknesses are, etc. He is a great read if you want motivation and want to stimulate your wealth building imagination. He should never be the final word - to do your due diligence in building any kind of business you need more than a motivational introduction.

Three Great Ideas You Can Use:

1. Once you set up an internet money machine, that is an internet sales system, it operates almost on auto-pilot. It takes little daily attention and if it was done correctly and if you have built a sufficient opt in list your sales will flow in day and night without much effort on your part.

2. The key to building solid and sustained sales on line is to build a good opt in list and to continue to grow it.

3. Good copy - that is, well written sales pages, are the key to turning those potential customers on your opt in list into actual buyers. Practice and refine the art of good copy writing to maximize your sales opportunities.

It is difficult to narrow the list to three. Allen does have a lot of gems here that you need to know from some source if you want to make money off the internet. If that is your interest this book is an excellent introduction.

Publication Information: Multiple Streams of Internet Income by Robert Allen, Copyright: 2001 Robert G. Allen. Published by John Wiley & Sons, Inc.

General Rating:Good

Daniel R. Murphy writes on success and how you can build wealth. Would you like to learn how others have been successful in business and in life? For a free success ebook and much information which can help make you successful and financially independent visit http://www.bookstowealth.com/. Begin your self-education today learning how others have become successful and rich! Do it today!

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building wealth from nothing

building wealth from nothing