Prologue

This is a brief commentary on morality and money.

Preface

The main idea advanced in the book is described here. Wealth is available to all and is acquired by those who successfully engage in activities that have the potential to create wealth. The goal of the book is to identify the wealthy among us, describe how they acquired their wealth and illustrate how the reader can do the same.

Introduction

“What is it like to be wealthy”? The introduction lists some of the characteristics and privileges shared by wealthy people. Among those privileges are financial security and financial independence, happiness, an above average standard of living, good quality of life, the ability to seize opportunity and the resources to solve problems. Wealth allows a person to do much of what he wants, when he wants. Simply stated, life is better with an adequate supply of money. Who among us has enough money, too much money or more money than he needs? In spite of the fact that the United States is the most successful country in history, too few Americans create personal financial security and financial independence in their lives. Less than 10 percent of Americans are millionaires. In a society with a democratic government and a capitalistic economic system the opportunity to succeed financially is available to all.

This book will provide some navigational help to those who want to make personal prosperity a part of their lives. It shows the reader the way to prosperity by identifying and explaining the twelve ways that people become millionaires and how they acquired their wealth. Using the metaphors of roads and routes the reader learns which roads lead to personal wealth and helps the reader decide which route makes the most sense for him to travel.

Chapter one: The importance of being a millionaire

Everyone wants financial security and peace of mind. One of life’s goals should be to acquire enough personal wealth to ultimately become self reliant. There is a correlation between happiness and money and acquiring wealth has been a part of the American Dream from the beginning. Becoming a millionaire is a practical necessity. The examples and illustrations in this chapter make the case that it takes a million dollar net worth to replace an average income and pay for an average standard of living.

Chapter two: The millionaires / Twelve roads to riches

This chapter identifies the millionaires, in some cases by name and in other cases by category. Many are well known and famous while others are anonymous. In each case the means by which their wealth was acquired is noted.

The chapter goes on to identify the twelve activities through which people acquire wealth. These wealth acquiring activities or endeavors are described as routes and roads that one can travel to personal prosperity. Each road is identified by its generic name and by its metaphoric name. It is made clear that these routes are well known and well traveled. How the wealthy become wealthy is no secret. None the less, these roads are unknown to many.

Obvious omissions to the list of routes one can travel to riches are the back roads to prosperity. Illegal, illicit, immoral and unethical activities are the means that some use to make millions.

Chapter three: Long shot/best shot

Not every road is open to all. Seven of the twelve routes are not realistic routes for many people to attempt to travel. The rigors and requirements of traveling these roads are simply too much for some. Not everyone qualifies. These roads or activities are described and discussed but categorized as long shots for most people. The five routes that are widely available to most people are listed as best shots. Each of these five roads will be explained and examined in detail in a subsequent chapter.

Chapter four: Main Street – working for the right employer

The first endeavor that is available to most people and addressed in detail is working at a regular job as an employee on Main Street, USA. Since most people rely on employment for their livelihood and well being this is an appropriate place to start a discussion about becoming wealthy and self reliant. To become a millionaire working as an employee one must work for The Right Employer. The Right Employer is an employer that will make a material contribution to its employees becoming millionaires. I describe such employers and discuss how they enrich their employees. I go on to discuss what an employee has to do to get a job with a great employer and to become a great employee.

Chapter five: Happy Trails – sales

Many sales positions offer another opportunity for large numbers of people to get into the millionaires club. Sales positions that offer a six figure income opportunity are discussed in this chapter. What it takes to succeed in sale as well as why some people fail are covered in detail.

Chapter six: Commerce Parkway – private enterprise

Much of the new personal wealth that is created in every generation is created by entrepreneurs and business owners. Such people engage in private enterprise and those who succeed become wealthy. This chapter describes these people generically but is sprinkled with numerous examples of well known entrepreneurs and business owners who have succeeded. The chapter describes what it is they do to acquire wealth through their business activities.

Chapter seven: The trade winds – thrift

The conventional wisdom is that everyone, except perhaps the very wealthy, should be thrifty. Diligent saving and careful spending are discussed and described in this chapter. Ancient wisdom and modern day consumer advice about personal finance are covered. Thrift is a slow boat to wealth but one that is time tested and sure. If one can’t travel any other road successfully, this road is open to almost everyone.

Chapter eight: Public transit – personal investing

Personal investing is an activity that has the potential to make large numbers of people wealthy. This chapter builds on the ideas presented in the previous chapter but expands the potential and shortens the time line for acquiring wealth. In the information age, anyone who is willing to become a student of investing can invest intelligently and successfully.

Chapter nine: Former millionaires / Starting over, starting late

Once one makes it into the Millionaires Club, he never wants to lose his membership. This chapter provides some tips on hanging on to the wealth one has acquired.

The chapter also explores the difficulties one encounters and the opportunities available to those starting over in life and starting late on their journey to personal prosperity.

Chapter ten: The elements of success

In order to become a millionaire, one must successfully travel one of the roads discussed in the book. But what does it take to succeed? Here the elements that are associated with personal and financial success are discussed. The eight principal elements discussed in detail are endeavor, environment, education, personal character, personal behavior or habits along with developing competence, problem solving and avoiding big mistakes.

Chapter eleven: How to become a millionaire

This final chapter clearly and succinctly describes the mechanics of wealth accumulation. A metric for setting goals and measuring progress is provided.

Epilogue

I comment on the current economic malaise.