Invest in Yourself: Six Secrets to a Rich Life (Hardcover)

~ (Author), Nancy Castleman (Author), Gerri Detweiler (Author) "If you had a magic wand and could go back 10 or 20 years, knowing what you know now, what would you have done differently?..." (more)
Key Phrases: plastic monsters, net interest rate, expensive debts, New York, Uncle Sam, The Banker's Secret Software (more...)

Editorial Reviews

Amazon.com Review

Written by three veteran consumer experts who escaped the rat race, Invest in Yourself is a comprehensive guide for saving money and becoming a better person in the process. The book offers six secrets to the rich life--the first is to determine what you want in a career, write Marc Eisenson, Gerri Detweiler, and Nancy Castleman. "By carefully investing your time, energy, and maybe a little money, you can find out where you really want to go--and then do what you need to get there," they write. "It's one of your best investment opportunities, way better than anything you can get in the stock market." The other five keys: invest in intangibles like family and friends; pay off debts and get into a 401(k); keep learning new skills; manage your own money and get an "ace in the hole"--a tiny business of your own. Invest in Yourself offers a myriad of tips for squeezing the most out of a dollar. It tells you how to negotiate to get the best price on just about anything, including motel rooms and used cars, and gives the lowdown on turning your kids into savers and investors, controlling college bills, cutting home buying costs, and planning for retirement. The book is also a good clearinghouse for Web sites, helpful phone numbers, and information about newsletters like Loose Change and The Cheapskate Monthly.

The authors know first hand how to live a simple life and reduce expenses. Eisenson and Castleman left behind the big city and started a pro-consumer newsletter in a rented dream home in the country. They very rarely go to stores, preferring yard sales and thrift shops; they grow much of their own food; and practically everything they buy is used. If it breaks, they fix it. Cowriter Gerri Detweiler chucked her executive post with a large credit-education organization and made it as a writer and consultant. If you're thinking of making a similar move, this book might be a good investment. It's also for anyone looking for some ways to stay on a tight budget or for people just joining the working world. --Dan Ring

From Booklist

Eisenson, along with Nancy Castleman, promote debt-free living in the newsletter they publish, Pocket Change Investor. Gerri Detweiler is author of The Ultimate Credit Handbook (1993, 1997) and former executive director of the Bankcard Holders of America. Here the three cooperate to combine several different genres of self-help guidance. They make the case that money management is more than just earning, spending, and investing wisely; "it's about how you choose to live your life" and "there's no correct way to go." Taking note that there are many possible variations on the family today, they still advise to "put your family first." They also suggest that no matter where you work, always "be in business for yourself." The trio offer an array of penny-pinching and penny-saving tips in order to "make the most of the money you bring home." They recommend avoiding debt and eschewing credit whenever possible. Finally, the authors lay out the simple basics for setting a financial planning strategy. David Rouse

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Product Details

• Hardcover: 00112 pages
• Publisher: Wiley; 1St Edition edition (September 22, 1998)
• Language: English
• ISBN-10: 0471248886
• ISBN-13: 978-0471248880
• Product Dimensions: 9.5 x 6.5 x 1.1 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 4.4 out of 5 stars  See all reviews (17 customer reviews)
• Amazon.com Sales Rank: #950,570 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

44 of 45 people found the following review helpful:

5.0 out of 5 stars Get High Returns on Your Time, Energy, and Money!, September 9, 2000

By	Professor Donald Mitchell "Jesus Makes Me a P... (Boston) - See all my reviews (TOP 10 REVIEWER)

"Our goal for Invest in Yourself is to motivate you to take charge of your life and make the most out of your time, energy, and money." That's a novel and valuable perspective that's worth five stars for this book.

Too many self-help books focus on helping you get more money or more out of your money, but ignore the costs in terms of the time, attention, effort and stress involved. Invest in Yourself looks beyond that overly-narrow focus. That's the good news about this book.

The bad news about this book is that it has taken on more than one book can hope to fully deliver on. I hope the authors come out with sequels that expand and magnify what is here.

The six secrets are:

(1) Make your own lifestyle decisions.

(2) Put your family first.

(3) Wherever you work, be in business for yourself.

(4) Make the most of the money you bring home.

(5) Turn your debts into golden investment opportunities.

(6) Map out your financial future.

The three authors have an unusual perspective. They have dropped out of the "get ahead at the office" rat race and "shop until you drop" lifestyles much more than most. As a result, they have lots of money-saving ideas based on their own life experiences. Much of what is in the book, Walt Disney's Uncle Scrooge would approve of. If you are like me, you will find money-saving ideas that would never have occurred to you, otherwise. My parents have always shopped are yard sales, but it had never occurred to me to use these routinely for the kind of around-the-house items that I will seldom use like unusual garden tools.

One of the strengths of the book is that it is not a "one size fits all" approach. They realize that each person will have a different set of life goals, and the advice is couched to accommodate that.

I also liked the way that the book challenged the automatic assumptions that many make: Career comes first; job comes first; exciting consumer experiences are a main reward for success; and only the best will do.

By having three authors, the perspectives and ideas were much more varied than I have seen in other, somewhat-similar self-help books. That also was a strength.

The weakest section was the last one on mapping out your financial future. Almost everyone will need more guidance than is here. That's the bad news. The good news is that there are lots of books about creating financial plans that you can use to supplement this one.

On the other hand, those who buy into the traditional American Dream and will happily pay the price for economic success will find less in this book than will those independent souls who listen to their own intuition for guidance. Despite ideas for making penny-pinching fun, it's not going to be fun for everyone. I do applaud pointing out how saving money for essentials is far more valuable than expanding income due to the income tax effects on progressive income. The advice about paying off your expensive debt is pretty standard, but I liked the way it was couched in terms of thinking of it as a high return investment.

I hope you will not only read this book, but apply its lessons. As you do, I encourage you to expand your perspective even more broadly than the book does. What other areas do you have important values in, besides time, money, and energy? How can those values be honored in your tradeoffs? The more you do this, the better life you will have . . . the richer your life will be in terms of its effect on those around you.

Enjoy, live long, and prosper!

17 of 17 people found the following review helpful:

5.0 out of 5 stars Comments on Invest In Yourself, November 18, 1998

By A Customer

I had just made a bad decision in the stock market when I started to read Invest in Yourself. The book provided me with so many strategies to improve my financial life that I saw how to make up for my mistake in a hurry.

I like the fact that this book shows you how to break the bondage to a paycheck that so many of us suffer. That dead end job isn't a necessity, it's a choice, and there are powerful alternative strategies.

This book is loaded with financial information, techniques and stories, but it's really a book about happiness. About what gives lasting satisfaction. Thus, it transcends information and provides wisdom. I am grateful to have read it.

16 of 17 people found the following review helpful:

5.0 out of 5 stars "Invest in Yourself, Buy THIS book", December 24, 1998

By A Customer

As a professional magician, I am always trying to make money appear from nowhere. As we all know, this is just an illusion. But with "Invest In Yourself, Six Secrets To A Rich Life", by Marc Eisenson, Geri Detweiler, and Nancy Castleman. You really can make money appear in your pocket. Best of all, it's YOUR money! And they teach you how to keep more of it, painlessly. No, it's not a magic trick. Just plain, down to earth advice on how to "Invest In Yourself". Like many people, I found myself struggling to make it from paycheck to paycheck. When I came across Marc's first book "The Bankers Secret", I thought it was fiction. Naturally, like many others, I was in debt denial. But once I started to practice what he preached. I saw my familys finances improve greatly. This meant more of our income staying in the household and not going to the bank holding our mortgage or the credit card companies. The stress relief alone was worth 50 times the cost of the book. I thought that Marc could never outdo himself. And then, "Invest In Yourself" was published. This should be the financial Bible in every home. They say that Great minds think alike and Marc, Geri, and Nancy have proven it to be true! No matter what your financial situation, This book is a MUST READ! Every chapter in the book can be applied to someone's unique situation. Best of all, you don't have to start at any particlar place. Look at each chapter, choose the one that best fits your situation, and read the best advice available today. We are all individuals with different circumstances, and this book is written for all of us. Planning for retirement, college, or just your life's journey, it's all covered in this masterpiece of financial advice. Six secrets to a rich life is exactly what it is. If you follow the advice of these three experts, you will enjoy more of your money, without stress, anxiety, or bill collectors. This is the BEST BUY of your lifetime in my humble opinion. Once I started reading it, I couldn't put it down. What have you got to gain? Financial security for your future. A life with much less stress. More of your own money without having to sell your soul to your employer. Quality time with your loved ones. Peace of mind. I could go on forever because I love this book. So I will sum it up in six short words. "Invest In Yourself, Buy THIS Book" Steve Whateley WAMC Northeast Public Radio, Steve The D.J. & Magician