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Millionaire [Hardcover]

Wayne Wagner (Author), Al Winnikoff (Author)
4.7 out of 5 stars  See all reviews (15 customer reviews)


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Book Description

January 13, 2001
There may be other books on index funds, but there has never been one as easy to read as Millionaire. Full of solid advice, anecdotes, and true stories, Millionaire is concrete information plus plenty of motivation all in one uncomplicated package.

How to go from spender to saver.
Two self-made millionaires, Wayne Wagner and Al Winnikoff have spent their professional lives making millions for their clients. Now they offer a simple strategy that shows how investing in index funds can make you a millionaire. Whether you're a seasoned investor or just starting out, anyone-- from a minimum-wage earner to a six-figure executive-- can follow this tried and true plan and make it work.

How to go from saver to investor.
Read Wagner and Winnikoff and you will be absolutely convinced that you can become a millionaire. And they'll show you exactly how to do it in a way that will make you want to get started immediately.

How to go from investor to millionaire.
"We tell our readers exactly what and how to save and invest, and prove why this strategy works with simple explanations and supporting documentation-- but without having to bog them down with weighty theories."

Why the Millionaire plan?
You don't need any prior knowledge about investing or money management. By following a simple formula based on the number of years to the target goal of a million dollars, you will know exactly how much money you need to save per month or per day. There's one simple set of rules of encouragement to keep you from doing the things that sabotage your goal.

Why index funds?
All you need to get started is the money you'd spend on lunch every day. You don't have to work long hours trying to keep on top of the market. You just sit back and let the economy work all 24 hours every day for you while you watch the returns compound and your money grow.

There's no need to agonize over which strategy to follow or which stocks to pick. There are no brokerage fees. And, unlike mutual funds, with index funds there's no high-priced manager using your money to try to "beat the market," and losing most of the time. Index funds beat mutual funds for 14 out of the last 20 years.

Wagner and Winnikoff show you step by step everything you'll need to know, from how to buy into an index fund in manageable bits and pieces, to what to do when it's time to start cashing in. But most importantly, Millionaire gives you the inspiration you need to get started and the motivation you need to stay the course.

Editorial Reviews

Review

"I read Millionaire on Saturday and thought it was one of the most sensible-- and most compact-- investment guides I've seen. [Wagner and Winnikoff] focus on what investors must focus on: simplicity, the long term, and diversification...and insuring success by holding costs and taxes to a minimum."--John C. Bogle, Chairman of Vanguard and Author of John Bogle on Investing: The First 50 Years

"I like the tone, the humor, the humanity, the clarity, and the brevity."--Peter Bernstein, Author of The Power of Gold: The History of an Obsession

"I think you have a winner on your hands. The thorniest issues-- taxes, holding periods, fees-- are dispatched in the most straight-forward way I've ever read. I commit right now to buying 500 copies to send to clients, and to put under my kids' pillows."--Ted Aronson, Chairman of Aronson+Partners

From the Author

Can anyone in the country become a millionaire? Absolutely. There's no trick to it. Anyone can do it. You just have to have a simple dream - to be a millionaire -- that compels you to stick with a sound program for a long time.

We wrote MILLIONAIRE to show that it's truly simple to become a millionaire, but most people just assume it's impossible. It isn't!

Most investment books go over the head of most readers. Often, they ask the reader a bunch of unanswerable questions, like: · What's your tolerance for risk? or · How much retirement money will you need to pay for arthritis medicine and denture cream?

Nobody - NOBODY - knows how to answer those questions, even the writer who asks them The average reader simply gives up.

Our goal was to put it in terms anybody can understand. I WANT TO BE A MILLIONAIRE. That's the simplest statement anybody can make about financial aspirations. Everybody can understand that as a financial goal.

Our book tells the reader how in plain English. It takes three ingredients:
Discipline
Strategy
Patience

Save $179 a month - six bucks a day. Put it into an index fund from age 25 to 65 and you'll be a millionaire when you retire. That's six bucks a day! Just pack your lunch instead of going out to McDonalds. Forget your daily coffee at Starbucks. Anybody can do it.

You don't have to be a genius, you don't need timing; you don't even have to pick a genius investment manager. All you need is discipline, strategy and patience, not that those are in oversupply. Keep the greed in check, you'll do all right.

And Millionaire is fun! You can read it in a couple of hours, laugh your way through it, yet change your whole financial future. In an hour or two.


Product Details

  • Hardcover: 128 pages
  • Publisher: Renaissance Books; First Edition first Printing edition (January 13, 2001)
  • Language: English
  • ISBN-10: 1580631932
  • ISBN-13: 978-1580631938
  • Product Dimensions: 9.2 x 6.2 x 0.6 inches
  • Shipping Weight: 14.4 ounces
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #715,437 in Books (See Top 100 in Books)

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Customer Reviews

15 Reviews
5 star:
 (13)
4 star:
 (1)
3 star:    (0)
2 star:    (0)
1 star:
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Average Customer Review
4.7 out of 5 stars (15 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

7 of 7 people found the following review helpful:
5.0 out of 5 stars This book appeals to the "get rich quick" instinct, January 3, 2001
By 
M. Roth (Santa Barbara, CA, USA) - See all my reviews
This review is from: Millionaire (Hardcover)
Of all the investment books that I have read this one really hits home. It appeals to the "get rich quick" instinct in every red blooded American with the lesson that the real way to do it is "get rich slow." The authors layout a simple formula and if the reader follows it they will undoubtedly reach their goal of having a seven digit bank account. "Millionaire" instills the reader with the mentality of sound investing and the virtues of prudently sticking with an investment plan.

The day I finished the book I was inspired to start my plan of regularly contributing to an index fund. I am now on my way...to becoming a millionaire!

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5 of 5 people found the following review helpful:
5.0 out of 5 stars No Experience Necessary!, January 9, 2001
By 
This review is from: Millionaire (Hardcover)
I started to systematically invest in index funds in the early 1970's, long before the authors thought about writing this book. The process really works. Save and invest, don't worry about market fluctuations, and you'll be able to retire when you get to my age.
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4 of 4 people found the following review helpful:
5.0 out of 5 stars ADVICE THAT'S WORTH A MILLION $, May 31, 2001
By 
Randal J. Moore (san diego CA United States) - See all my reviews
This review is from: Millionaire (Hardcover)
In some ways, it is unfortunate that a book like Millionaire is necessary. However, the personal savings rate in this country is so low (at some times even negative) that in aggregate our country faces a staggering financial crisis as the aging population nears retirement. Complex investment strategies are not what most people need. It's a simple, low-cost, sound, systematic, long-term plan for dealing with the high cost of retirement. This is what Millionaire is all about.
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