Review: Automatic Wealth, the 6 steps to financial indepence by Michael Masterson

Overview: This is a book that I re-read every year or two. While I don’t agree with many of his ideas, one of the two BIG IDEAs that he emphasizes over and over is one I do agree with. That is the importance of having multiple streams of income (consequently, the other BIG IDEA is

Review: Rule #1 Investing by Phil Town

Overview: Town writes about how anyone can easily see 15% returns by not diversifying but by picking the right stocks when they are undervalued and then selling when they’re over valued (like Warren Buffet). While this makes a lot of sense in theory I think he gives a very unrealistic outlook on how much work/research

Review: How Come that Idiot’s Rich and I’m Not by Robert Shemin

Overview: This book teaches financial principles that can lead to wealth. It has several good ideas. However, it wastes your time in getting to those good ideas. More time is spent trying to sell the Robert Shemin brand (now called “Rich Idiot”) than in giving actual advice that can lead to wealth. I’m sure this

Review: The Richest Man in Babylon by George S. Clason

Overview: This book advocates sound financial principles. While it gives very few specifics on how to manage your money it does teach general concepts that, if applied, will assuredly help you on your road to riches. Another reason this book has been so successful is that it doesn’t waste your time trying to sell you

Review: Think and Grow Rich by Napoleon Hill

Overview: Think and grow rich is a great starting point for anyone who cares about accumulating riches. It focuses on the attainment of riches through an obsessive desire to achieve them using autosuggestion, faith, and knowing people who are smarter than you. This was one of the first books on personal finance that I ever

The “SPOIFS” method for Wealth Building

It isn’t extremely useful to set out to “become rich” using my methods if you don’t agree with my definition of “being rich.” This is a topic that is regularly debated by various authors of personal finance literature. Napoleon Hill in his book Think and Grow Rich lists 12 categories of true wealth. I agree

Watching Away a Small Fortune: How watching television depletes your retirement accounts

I, like most Americans, love to spend considerable time wasting away in front of the television. I have my can’t miss shows but don’t limit myself to those. I watch whatever looks interesting. Now I don’t watch the national average of four hours of television a day, but like most people I also love movies.

Working in School: Is it worth the effort?

Definitely the best way to pay for your schooling is through scholarships you earned before you stepped foot on campus, but not all of us are that lucky. But even if you are that lucky… you may want to consider work anyhow, but more about that later. University Scholarships One of the greatest surprises I

Student Loans: How much and what kinds?

The average undergraduate leaves school with nearly $20,000 of debt according to a recent study cited in the USA today. A 2002 council of graduate schools poll shows that graduate students are much worse off–Master’s students average more than $25,000 of debt while PhD students are carrying more than $35,000. It is common in professional

Retirement Accounts: Build your nest egg by getting free money

If you are not sinking money into a retirement account, you should be! In many cases consistently socking money into a 401(k) or similar account is a chance to make free money (company matching, tax incentives, etc). You should be doing this. Which retirement account is best for you? That depends on what stage of