Now that Mr. Dennis has died, I'll add my review. He spends the first two-thirds of the book telling you why you probably do NOT really want to get rich. He's quite convincing, and he convinced me of what I already sensed: I don't care enough about the benefits of riches to pay the price to be wealthy. I already have all I need. But I read the rest of the book anyway, because he's an entertaining writer.
If you want to become rich by your 30s, you should be looking at wealth-building opportunities that pay off quicker than traditional long-term investments. One of the best ways to do this is to get into the entrepreneurial game and own your own business. Once you own a business, you have unlimited potential to earn, although you also assume more risk.
It may make you think again if that's your real goal - getting rich. Felix says that he can understand looking back why others chose different paths with raising a family, devoting themselves to a worthy cause or non-profit, because he himself really wonders if it was worth it...NOT! as it turns out, he's too used to his freedom and experiences of the finer things in life that money affords to change his fate now. He shares with you in the book what a real bummer or hassle that having money brings including a long list of needed advisers, financial advisers, tax advisers, supportive well wishers who seek hand-outs, charities, not to mention the minute details and fine print of the tax laws that you'll need to get extra very familiar with.
Sprinkled with heavy doses of his poetry to savor a point or illustrate required thinking and action, this book isn't an easy or particularly fun read, I found myself wondering if I really wanted to finish it at several points only because of the colloquialisms he spouts while telling his tale which may require stopping to figure out what he actually meant. But, other than that, he does a great job laying out the steps to becoming rich which may surprise the get rich self-help reader who follows this topic, voraciously reading every popular book on the subject.
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You probably can’t demand a raise from your boss, but there are a few simple ways that you can essentially give yourself a raise. Simple cutting out some of your major expenses, like canceling your cable or going out to eat less can save you hundreds of dollars every year. If you save $200 every month, you’ll find yourself with $2,400 at the end of the year.
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Harris, I think it depends on several factors. First, I recommend having a well established emergency fund that will be enough to cover several months living expenses. This will help you cover any unexpected expenses and avoid taking out additional debt. Next consider other short/medium term goals. For example, are you saving to buy a house, do you need to replace your car in the next two or three years, etc. Finally, consider the interest rates of your student loans and what you may be able to earn in an IRA and decide which option is best for your needs. Investing for retirement now could be a huge benefit for you and your wife when you reach retirement age, but eliminating debt increases cash flow and gives you peace of mind. Both options are solid. Best of luck.
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I fear your wonderful advice comes too late for me. I am 58 years old and have no job skills. The world is a wonderful place for you young people who have jobs and a meaningful life, but for someone like me it is difficult to want to keep going. I feel antiquated and out-of-date. I will never be a millionaire–not even close! What is even worse is that my two grown sons can only find part-time, minimum wage jobs and both of them went to college.