The Last Chance Millionaire
Book Review on Douglas Andrew's Explosive New Book
The Last Chance Millionaire is Douglas Andrew's latest addition to his financial series - Missed Fortune and Missed Fortune 101. Read this review for financial planning.
Planning for your retirement is not much different than planning for your career. It's never too late to start, and there are ways to accelerate your growth and potential. As your career is important to your life, so is planning for your retirement. You really need to put in as much thinking and planning for what you will do when the money flow is NOT the same, as you (hopefully) do for HOW to make that money - -meaning your career.
Douglas Andrew's latest addition to his financial series, Missed Fortune and Missed Fortune 101, helps to make sense of equity, liquid assets, liabilities, and how to get your assets to make you money. This is a relative new approach to financial planning, and one Mr. Andrew is able to convincingly describe in full detail.
However, this new approach is hard for many people to understand, as it goes against what many have believed for years - pay off your house and you'll be okay, or that your safety net or egg is in your house. And no, it's not that simple - to do the system justice you MUST read the book.
Mr. Andrew's use of simple analogies such as the pitcher and water glass helps to make the difficult world of finance much more understandable. There tends to be a bit too much on the analogies, though. And too much on the "I'll get to that explanation later on" or "you'll read about that in a later chapter". While Mr. Andrew provides us with an easy style to read and comprehend, he tends to spend too much time on the why of explanation (or the promo or validation) in the early chapters. As he continually validates the reasons, the reader becomes irritated. The reader needs examples (which Mr. Andrew does provide).
Mr. Andrew does provide excellent advice, but there should be a few more warnings. The system will not work in all cases, as it is dependent on interest rates for mortgages being lower than what you are investing in. However, his point that by paying off your mortgage you lose that deduction is very sound.
One of the best features though, is that even if you do not plan on using his system, this book provides excellent retirement planning strategies, sound financial advice, and an appendix on how to ensure your investments work within the US tax laws.
The Last Chance Millionaire by Douglas Andrew
ISBN: 9780446580533
promoted by FSB Associates.
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Copyright October 18, 2007. Paym Bergson & Suite 101. All rights reserved. Any unauthorized use of this material will constitute an infringement of copyright.
