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Millionaire by Thirty: The Quickest Path to Early Financial Independence | 
| Authors: Douglas R. Andrew, Emron Andrew, Aaron Andrew
Publisher: Business Plus
Category: Book
List Price: $22.99
Buy New: $12.02
You Save: $10.97 (48%)
New (30) Used (7) from $12.02
Avg. Customer Rating:  12 reviews
Sales Rank: 60918
Media: Hardcover
Number Of Items: 1
Pages: 256
Shipping Weight (lbs): 1
Dimensions (in): 9.1 x 6 x 1.3
ISBN: 0446501840
Dewey Decimal Number: 332.02401
EAN: 9780446501842
ASIN: 0446501840
Publication Date: April 30, 2008
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand new item. Over 3.5 million customers served. Order now. Selling online since 1995. Few left in stock - order soon. Code: H20080716212310T
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Product Description
Most people know that there are 70 million Baby Boomers in America today....but what is less known is that there are approximately 100 million people in America between the ages of 16 and 30. This generation has just entered, or will soon be entering the work force. And they have no idea how to invest, save, or handle their money.
Young people today come out of school having had little or no formal education on the basics of money management. Many have large debts from student loans looming over their heads. And many feel confused and powerless when their pricey educations don't translate into high paying jobs. They feel that their $30,000-$40,000 salary is too meager to bother with investing, and they constantly fear that there will be "too much month left at the end of their money."
Douglas R. Andrew has shown the parents of this generation a different pathway to financial freedom. Now Doug and his sons, Emron and Aaron - both of whom are in their mid-20s - show the under-30 crowd how they can break from traditional 401k investment plans and instead can find a better way by investing in real estate, budgeting effectively, avoiding unnecessary taxes and using life insurance to create tax-free income.
With the principles outlined in Millionaire by Thirty, recent graduates will be earning enough interest on their savings to meet their basic living expenses by the time they're 30. And by the time they're 35, their investments will be earning more money than they are, guaranteeing them a happy, wealthy future.
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| Customer Reviews: Read 7 more reviews...
 Fails to Deliver on the Title July 21, 2008
1 out of 1 found this review helpful
If you have a great business model no problem being a millionaire by 30. Buying houses with maximum leverage and investing the difference in a max funded life insurance policy may do it by 50. That for most, especially the young is a big maybe.
You only need to read the paper or watch the news to see the result of people who borrowed too much to buy a house or three. Most problably had the income to pay the loan at the time it was originated. Then the unthinkable happened, job loss, illness, divorce, or life. Leverage is a double edge sword, and if you don't have a good cash surplus it can wipe you out.
The second glaring problem is the rationale on why other investments are poor compared to Indexed UL. The author glosses over the fact that many insurance contracts are kept for only a few years. The same way people jump in the stock market when it is hot and pull money out when it is cold. Again, view articles on people taking money from 401k plans to pay bills.
Then the pitch for Indexed UL is worse than having an agent sitting in your kitchen. I have two Variable ULs myself, so I am not completly opposed as part of a balanced portfolio for long term cash. But everything, no way and here's why. The expenses are the highest of almost any investment product on the market. Even in the best scenario Indexed UL will have 1% per year cost for insurance and the same or more for the investment fees. You can buy an Index of stocks and pay less than 1/4 of 1% in fees each year. Pay the lower capital gains tax rate when you sell, and cash out at any time. Sure you can borrow from your UL and pay no taxes, but you still pay interest on the loan. So if the interst rate is 1%, after 15 years you would have paid the full capial gains rate of 15%. You keep paying interest as long as the policy is in force. If it lapses, you are hit with a tax bill on the gains. It is taxed at the higher ordinary income tax rate, not the lower capital gains tax rate.
So to park some long term cash, protect your family, or leave some money to charity UL is great. But balance it with a full portfolio including cash. Better to borrow a reasonable amount on a home and fund several investments on the side if you want to get and stay rich.
 Best $ Book Ever! June 13, 2008
2 out of 5 found this review helpful
This book opened my eyes in a way that they've never been open before! This book is so easy to read, but it doesn't make you feel dumb for not being financially literate. As soon as I picked this book up I couldn't put it down. Like a suspense movie - I wanted to find out what the Andrew guys were going to say next. Just about everything you need to know about finances and how to get ahead in this crazy world, can be found in "Millionaire by Thirty." This is a must read for anyone.
Do not put more money into their pocket June 13, 2008
2 out of 4 found this review helpful
The best way to make a million by thirty is to write books and articles and videos telling everyone else how to make a million. This is also the reson for the housing slump-speculators and greed. I saw homes in CA going up 25% every few months. This is ridiculous and could not be sustained. Yes, wait until we hit rock bottom and buy real estate that is true but do not mortgage your future. Show me a bank or person that gives credit to 19 year olds with no long term job or financial resources- just will not happen in 9.9 out of 10 cases.
A Sales Pitch for Indexed Universal Life Insurance June 10, 2008
6 out of 7 found this review helpful
This book is nothing but a sales pitch for Indexed Universal Life Insurance, which is conveniently offered by the author's company. And, by the way, if you buy one of these programs, their agents make a hefty fee. So not only are you spending money on this book, you will put more money into their pockets by buying this insurance program. Do some research on Universal Life Insurance (specifically the one mentioned in the book) and you'll uncover all the facts about it.
I will say the book had some ok ideas about investing in general, but save your money on this book and buy a "Rich Dad" book series instead.
boring, confusing, droll June 9, 2008
1 out of 3 found this review helpful
An uninspiring book that glosses over already well-known advice, presented in a boring confusing way, and does not apply to today's market.
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