165 of 175 people found the following review helpful:
3.0 out of 5 stars
I'd give it more stars as an autobiography, July 11, 2005
This review is from: Reallionaire: Nine Steps to Becoming Rich from the Inside Out (Paperback)
OK. This kid is pretty amazing in that's he's extremely intelligent, charismatic, and persistent. A long-term goal of his is to be a talk-show host. I'm sure he'd excel at that or anything else that requires great skill in communication and persuasion, such as politics.
If this book were being sold as an autobiography or general motivational book, that would be one thing. But here it is in the books on finance, and he's been set up as a role model for getting out of poverty. He has some good general advice about following your dreams, not taking no for an answer, and working hard. But as advice on how other people can become wealthy, I just can't give this book much credibility.
For one thing, he might have made that million dollars, but already he's lost a chunk of his own and investors' money. He lost a "high six figure" investment in a Las Vegas project, plus his NE2W organization had to close down. (p. 256). As he says himself "If all my businesses dried up at age 17, why am I writing a book about success? And why are you reading it?" (p. 271) Because finally, after talking about making money for the entire book, he's decided success is not about money, it's about doing your work in the world, whatever it is.
And a lot of the attitudes and beliefs he leaves you with are just 180 degrees opposite of proven wealth-building behaviors discussed in books like The Millionaire Next Door (Stanley and Danko). For example, he's spent a lot of money on the trappings of looking successful (expensive suits, pens, shoes, etc.) because it's supposed to "open doors". (p. 237-238). Somewhere online I read he wears a $1600 watch. In The Millionaire Next Door, they are clear that most people who make and KEEP a million or more just don't spend money this way. They are apt to buy Timex watches and JC Penney suits. And no, they are not people who inherited their money, either.
An awful lot of his and his mother's business experiences seem to be about taking big risks (such as with the rent money), trying completely different types of businesses one after the other and hoping to hit the big jackpot with one of them. Again, in The Millionaire Next Door it's pretty clear that 99% of the time, businesses and wealth are built slowly and not from getting one big break. When you overextend yourself in business, taking orders for products you can't yet afford to manufacture, you probably won't be rescued in a 1.5 million buyout as Farrah was. (p. 190)
Finally, what about the photo with Michael Milken? Yup, Michael Milken, the Junk Bond King and white collar criminal. Why would someone talking about honesty and ethics throughout their book go out of his way to associate himself with Milken?
IMHO, read this book for general inspiration and because Farrah Gray's life is extremely interesting--just don't expect it to be a financial blueprint for becoming a millionaire yourself.
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12 of 14 people found the following review helpful:
5.0 out of 5 stars
Farrah Gray and Reallionaire are truly awe-inspiring!, July 14, 2005
This review is from: Reallionaire: Nine Steps to Becoming Rich from the Inside Out (Paperback)
I cannot even begin to explain how his story touches me! To just imagine that he came from the hood, Chicago's hood at that, and has made for himself in his short life something that many have not accomplished in their lifetime is nothing short of amazing. I mean really, a millionaire at 14 and a multi-millionaire at 20 now and is still pursuing many business ventures is just unheard of. Many young men his age have been in his same situation growing up and many of them have decided to go down the path of emulating gangster rappers and their lives of violence, drugs, and mayhem. He even says in the opening of his book that if you believe in statistics that he should either be in prison or dead. However, Farrah, with his belief in self and that all things are possible, defied all of the negative influences that he was surrounded by and used his god-given talent and business acumen to take him out of the ghetto and to blow corporate America away. And even more touching is the sincerity and "down-to-earth"-ness that he exudes throughout his wonderful book. Many people, young and old, of all ethnicities and backgrounds, myself included, I believe, can take a page from this book and really do amazing things with their life!
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9 of 10 people found the following review helpful:
3.0 out of 5 stars
Reallionaire, May 29, 2007
This review is from: Reallionaire: Nine Steps to Becoming Rich from the Inside Out (Paperback)
OK, I'm not tryin' to hate but it seems that if you are not a cute, very ambitious 8-year old who happens upon a mentor with the desire and the resources to help you out, then this book is just a heart-warming, rags-to-riches story, period. This is more of a "how it happened to me" than a "how to" book. I am pleased to see what can happen when intense, focused desire is aimed in a positive direction...and glad that he is reaching back to help others.
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