Cover image for Ordinary people, extraordinary wealth : the 8 secrets of how 5,000 ordinary Americans became successful investors, and how you can too
Title:
Ordinary people, extraordinary wealth : the 8 secrets of how 5,000 ordinary Americans became successful investors, and how you can too
Author:
Edelman, Ric.
Personal Author:
Edition:
First edition.
Publication Information:
New York, NY : HarperResource, [2000]

©2000
Physical Description:
xii, 319 pages : illustrations ; 24 cm
General Note:
Includes index.
Language:
English
ISBN:
9780062702470
Format :
Book

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Summary

Summary

How did a secretary, a firefighter, a retired naval officer, a housewife, a construction worker, a schoolteacher, and a pharmacist become wealthy? Bestselling author Ric Edelman has studied the wealth-making habits of these and 5,000 other ordinary Americans. What he found is revealed for the first time in this book: the eight great secrets to attaining wealth.

This extraordinary book is filled with the advice of everyday people -- people like your own friends and neighbors -- who entered the world of personal finance, often with no real plan at the start, but who found ways to accumulate astonishing amounts of money.

A rich, irreplaceable lifetime of wealthbuilding experience is now at your fingertips. Here you will learn to arrange your finances and make your investment decisions so you can reach your goals and achieve financial security. Including:

How to turn your mortgage into a wealth-enhancing tool; Why small investments work better than big ones; How to max out on your employer-sponsored retirement plan; Your investments: when to hold them and when to fold them; Financial news: when to pay attention and when to turn it off; Plus, of course, much, much more.

Let your neighbors lend you a hand and let Ric Edelman guide you through their lessons. So come along for an eye-opening journey with thousands of ordinary folks who found their way to extraordinary wealth.

Five thousand of your neighbors found hard-won financial success using the same eight secrets to attaining wealth. The lessons they learned through many years of life experience, and lots of trial and error, can now be yours!

After studying the habits of thousands of financially successful people, bestselling author Ric Edelman found that they shared eight fundamental methods for attaining wealth. Now you can adopt these same eight strategies yourself.

Let the extraordinary experience of ordinary investors -- along with Ric Edelman's expert analysis -- help you create your own financial success story.


Author Notes

Ric Edelman is the chairman and CEO of Edelman Financial Services, LLC and the author of numerous books about personal finance. He graduated Cum Laude from Rowan University in 1980, and from the Executive Program from Singularity University in 2012.

He hosts a weekly radio show entitled, The Truth about Money with Ric Edelman, and his similarly titled tv show airs on over 200 public television stations.

His books include the bestseller, The Truth about Retirement Plans and IRAs, as well as The Truth about Money, Rescue Your Money, and The Lies about Money.

(Bowker Author Biography)


Reviews 1

Booklist Review

Several years ago, after helpful nudges from Oprah and Rush Limbaugh, Thomas Stanley and William Danko found themselves sitting atop the best-seller charts with The Millionaire Next Door: The Surprising Secrets of America's Wealthy (1996), in which they profiled the surprisingly frugal lifestyles and spending habits of America's "hidden" millionaires. Now Edelman hopes to garner the same attention with this survey of 5,000 of his clients who are "predominately middle-class" but successful investors. Edelman, a financial planner and popular talk-show host, is already the author of The New Rules of Money: 88 Strategies for Financial Success Today (1998) and The Truth about Money: "Because Money Doesn't Come with Instructions" (1996). He uncovers eight basic "secrets" that, in several cases, run counter to prevailing financial wisdom. Don't pay down your mortgage! Don't diversify your retirement plan contributions! After explaining each strategy, Edelman lets his survey respondents speak "in their own words." --David Rouse


Table of Contents

Introductionp. ix
Secret #1 They Carry a Mortgage on Their Homes Even Though They Can Afford to Pay it Offp. 3
In Their Own Wordsp. 19
Secret #2 They Don't Diversify the Money They Contribute to Their Employer Retirement Plans
Instead, They Put All Their Contributions Into One Asset Class--the One Few Others Choosep. 33
In Their Own Wordsp. 65
Secret #3 Most of Their Wealth Came From Investments That Were Purchased for Less than $1,000p. 87
In Their Own Wordsp. 95
Secret #4 They Rarely Move From One Investment to Anotherp. 105
In Their Wordsp. 115
Mind Over Money
Why Investors Make the Mistakes They Dop. 125
Secret #5 They Don't Measure Their Success Against the Dow or the SandP 500p. 155
In Their Own Wordsp. 161
Secret #6 They Devote Less than Three Hours
Per Month to Their Personal Finances
And That Includes the Time They Spend Paying Bills. And Budgeting? They Never Botheredp. 169
In Their Own Wordsp. 179
Secret #7 Money Management is a Family Affair Involving Their Kids as well as Their Parentsp. 193
In Their Own Wordsp. 201
Secret #8 They Differ From Most Investors in the Attention They Pay to the Mediap. 215
In Their Own Wordsp. 219
In Their Own Words
The Biggest Mistake I Ever Madep. 227
The Smartest Thing I Ever Didp. 253
The Obstacles I Facedp. 271
My Advice For Youp. 283
Afterthoughts
In Our Own Wordsp. 301
My Own (Final) Wordsp. 305
About the Authorp. 307
Indexp. 311