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Automatic Wealth: The Six Steps to Financial Independence
 
 


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Automatic Wealth: The Six Steps to Financial Independence [Paperback]

Michael Masterson
4.0 out of 5 stars  See all reviews (64 customer reviews)

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Editorial Reviews

Amazon.com Review

The advice and concepts outlined in Automatic Wealth are best suited for those in their 30s-50s who recognize that their current job will never afford them true financial independence. Rather than encourage readers to quit their day jobs today and launch into a new scheme tomorrow, Masterson shows how to turn your skills and experience into significantly more money within seven to fifteen years. For those just getting by, he details how to get the biggest pay raises now and how to move into more lucrative ventures in the near future. For those with some savings, he offers specific advice on building equity and increasing net worth significantly and quickly. Since Masterson made his millions starting and developing small businesses, he encourages people to become entrepreneurs themselves and discusses which kinds of ventures to invest in and which ones to avoid. He also stresses the importance of developing multiple income streams, offering chapters on real estate, stocks and bonds, consulting, direct mail, and other opportunities.

In addition to concrete steps, Masterson also writes about attitude and expectations. His first step, in fact, is to take an honest and realistic assessment of your current financial situation and prepare yourself to change habits. He stresses that you must make getting rich a priority and devote the necessary time to it--act immediately and don't wait until the perfect moment to change your situation (hint: the perfect moment rarely arrives.). Clearly written and filled with informative anecdotes and examples, Automatic Wealth will not make you a millionaire overnight. It could, however, make you one in a decade, and that's a timeline most people can deal with. --Shawn Carkonen --This text refers to the Hardcover edition.

From the Inside Flap

If you're worried about getting burned by financial programs that promise you'll get rich quick—through unlikely stock tips or high-risk trading strategies—and don't have the patience to invest in a savings plan that takes thirty or forty years to take advantage of the "miracle of compound interest," then you've picked up the right book.

In Automatic Wealth, self-made millionaire Michael Masterson draws upon his own experience and that of experts in the fields of retirement, investing, and real estate to offer you a complete program on achieving financial independence. Organized around six key principles, Automatic Wealth will show you how to develop your wealth- building skills and habits and turn yourself into an "automatic wealth-builder."

The proven program detailed throughout this book—one which incorporates nothing but strategies that have personally worked for Masterson as well as the people he's mentored—is broken down into six easy steps:

  • Facing the Facts—Here you'll discover what wealth means to you and come to a realistic conclusion about what you need to do to put yourself on a path that will allow you to live well and retire comfortably.
  • Plan to Become Wealthy—Offers simple, straightforward advice that will prepare you for your journey.
  • Develop Wealthy Habits—Illustrates how the right mind-set can translate into more money.
  • Radically Increase Your Income—Provides the framework for making the money you want through real estate, investing, and other proven financial vehicles.
  • Get Richer While You Sleep—Reveals the best ways to create a steady stream of income that will automatically flow into your pocket.
  • Retire Early—Explores proven approaches to wealth building that will allow you to retire sooner than you might have expected and still live comfortably throughout your retirement years.

Automatic Wealth follows a well-conceived plan that focuses on building income and equity simultaneously. Filled with in-depth insight and practical advice, this unique guide offers specific steps—including how to develop wealth-building habits now and how to develop a three- to fifteen-year plan to reach millionaire status—that will help you live a more fulfilling financial life. --This text refers to the Hardcover edition.

From the Back Cover

"I have known Michael for over twenty years. He has one of the smartest business minds I know. When he gives me advice, I pay attention, and you should, too. Automatic Wealth is full of wisdom and insight filtered by a master and brought to you in a well-written and delightful style."
—John Mauldin, Editor of the bestselling book, Just One Thing: Twelve of the World's Best Investors Reveal the One Strategy You Can't Overlook

"I am not usually a fan of this kind of book. One entitled Automatic Wealth made me suspicious. But I am a fan of Michael Masterson, and when I read the book, I was impressed. Masterson manages to go beyond the theory to tell you exactly how real people make real money in the real world. That, I think, is his genius. He's able to open his own eyes and see for himself what actually works. The result is original, clever, and very helpful to anyone who is serious about building wealth."
—Bill Bonner, coauthor of Empire of Debt: The Rise of an Epic Financial Crisis

"Michael Masterson has been a great friend of mine for over twenty years. I know for a fact that the strategy he teaches is the exact same strategy he has personally used to amass extraordinary wealth and prosperity for himself. He's reduced a normally daunting process down to six simple and unfailing steps YOU can absolutely use to vastly and rapidly increase your financial situation, often times doubling and redoubling your wealth every few years. This book will become your financial bible."
—Jay Abraham, author of Getting Everything You Can Out of All You've Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition

"Michael Masterson's book is brilliant and concise, packed with breakthrough insights and unique wealth-building tips. Best of all, it's practical because it combines proven investment and financial planning advice with street-smart business and real estate secrets."
—Robert Ringer, author of Action!, Looking Out for #1, and To Be or Not to Be Intimidated?

About the Author

Michael Masterson has developed a loyal following through his writings in Early to Rise (www.earlytorise.com), an e-newsletter published by Agora that mentors more than 400,000 success-oriented individuals to help them achieve their financial goals. Masterson has been making money for himself and others for  almost for decades. In that time, he's only taken two breaks-each time for two years. The first was after a stint with the Peace Corps where he came to appreciate relative values and the joy of teaching. The second came at age thirty-nine, when he retired from  the $100 million-plus business that he and his partner built. Over the course of his remarkably successful business career, Michael's been involved in the development of dozens of successful businesses, including two that grew beyond $100 million. At one time or another, he's owned and run companies that were public/private, onshore/overseas, local/international, service/product-oriented, retail/wholesale direct mail, and even profit/not for-for-profit. To subscribe to Michael Masterson's free thought-provoking e-newsletter, Early to Rise, just visit www.earlytorise.com.
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