Seven Years to Seven Figures: The Fast-Track Plan to Becoming a Millionaire (Agora Series) (Hardcover)

~ (Author)
Key Phrases: might prove troublesome, wily coyote, big thinker, Seeds of Wealth, Social Security, Bob Bly (more...)

Editorial Reviews

From Publishers Weekly

This is not the book for people who merely want to enjoy a comfortable retirement, but for those whose goal is nothing less than becoming fabulously wealthy. Masterson (Automatic Wealth) derides what he calls the "pinch-save-and-wait" philosophy of contributing the maximum to one's 401(k) and depending on compound interest and time to work their magic. Such tactics, he says, can take decades to bear fruit, whereas most of his clients are baby boomers who hope to realize astonishing gains in a few short years. The first part of the book is about "super-sizing" one's income to six-figure levels in order to free up money for investing in one's own businesses, and soaking up knowledge from mentors and bosses. The rest contains numerous stories of self-made millionaires (almost all from sales and direct marketing) along with Masterson's advice: invest in businesses you understand and, more importantly, can actually control; be entrepreneurial and a risk taker; never stop networking and selling yourself; invest heavily in real estate. Masterson's aggressive, gratingly self-promotional message is oddly out of synch with Dietz's gentle, avuncular, let's-chat-on-the-porch narration. Dietz's wonderful storytelling voice is wasted on this get-rich-quick scheme.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to the Audio CD edition.

Product Description

In Seven Years to Seven Figures, self-made millionaire and renowned wealth coach Michael Masterson reveals the steps you can take to accumulate seven-figure wealth within seven years—or less. Seven Years to Seven Figures will give you the tools to increase your income, get the highest possible returns on investments, save wisely—and secure your financial future faster than you may have ever dreamed.

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Product Details

• Hardcover: 247 pages
• Publisher: Wiley (October 6, 2006)
• Language: English
• ISBN-10: 0471786756
• ISBN-13: 978-0471786757
• Product Dimensions: 9 x 6.1 x 1.1 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 3.2 out of 5 stars  See all reviews (64 customer reviews)
• Amazon.com Sales Rank: #349,010 in Books (See Bestsellers in Books)

• This item is part of The Agora Series.

Customer Reviews

Most Helpful Customer Reviews

87 of 91 people found the following review helpful:

3.0 out of 5 stars Somewhat motivational, but also somewhat annoying, November 24, 2006

By	Cari L. Campbell - See all my reviews (REAL NAME)

The first few chapters of this book had my mind working overtime and I was feeling inspired. That was great. Then I started reading the section of the book (i.e. almost the entire book!) where they tell stories of how people made their millions. The farther along in the book I went the more annoyed I became because almost every story related to direct marketing and copywriting. What about the rest of us! Then I read in the table of contents that there is a chapter on how an accountant made millions. Finally! I am CPA. So with eagerness I read the chapter, only to throw it down in disgust one page later when the accountant began telling how he made his millions in copywriting. Thanks a lot. I don't want to be a copywriter or be in direct marketing. That is the reason for the 3 stars. The book did have useful information on how you won't become rich by being an employee, but this isn't news to me. So I guess the only real benefit I received from the book is a little motivation and I set the intention to be worth 4 million in 7 years. I really didn't need the book for that...

72 of 80 people found the following review helpful:

1.0 out of 5 stars Disappointing for long time Agora/Reckoning Readers, October 12, 2006

By	javajunki "javajunki" - See all my reviews (TOP 500 REVIEWER)

Amazon Verified Purchase

If you are a subscriber to the free newsletter then this is nothing more than a lot of repackaged/repurposed content you have likely read-over and over and over. I purchased it [like everyone else] with the "bonus" offers [which were also lackluster and rehashed unlike many others in the past]. The most impressive thing about this book is the mini publicity stunt they are creating to push it to the number one spot.

Now, for specifics....there are few to none. It begins by a general "who is Masterson", talks about how great real estate is for the long term, why you need to make $150k per year or more, how much to save once you reach that level and then relates several stories of people who did just that in one form or another.

As other reviewers have already mentioned, the information on real estate is dated at best. Sure, they make mention of the fact that they don't promote buying right now but rather to take a long term approach and keep your eyes open for those great bargains [yeah-you and hundreds of millions more].

The other less than insightful points include making yourself an invaluable employee so that your boss will give you a raise and/or bonus etc to the six figure plus category. Build your own business is the next response...again, the numbers demonstrate the vast majority of wealth comes from real estate and owning your own business. It also demonstrates that owning your own business is a risky endeavor that often results in less total earnings than a full-time job. Of course, having a network of high profit friends in a niche industry can sure help but if you aren't one of those folks then don't expect it to be as easy as it sounds.

In fact, this is really more of a motivational 'rah rah' The majority of the book relates the stories of several people who "made it" in seven years. Big deal. For my money, I STRONGLY prefer the new $1,000,000 Blueprint magazine which features several interviews each month of people from all walks of life who created a thriving small business.

Having been a long time subscriber and general fan of both the Daily Reckoning and the Agora Publishing mini empire, this is one of the few times they have Failed to deliver anything of substance and very little of interest. The $15 price tag is probably still to high even with the crummy bonus offers [more rah-rah and fluff].

Give it a few weeks, this book will be on the discount bin and thousands of copies available starting for a penny!

Hey, if I'm correct then maybe Agora should consider hiring me...an obviously invaluable prospective employee who actually knows how to deliver!

45 of 49 people found the following review helpful:

3.0 out of 5 stars Not great but some useful info, November 16, 2006

By	John Chancellor "Mentor coach, www.teachtheso... (New Orleans) - See all my reviews (TOP 500 REVIEWER)    (REAL NAME)

Amazon Verified Purchase

The book gives no great insights into making seven figures in seven years. In some respects the stories are of the lives of those who made seven figures in seven years are a bit too general. The entire book is a lot of very general information. There are some subtle and some not so subtle plugs for his newsletter, ETR. The newsletter is actually probably better than the book.

There was one omission that seemed rather startling. When he talks about how you would live on different income levels, there was specific mention of housing, transportation, utilities, upkeep, routine maintenance, food and household supplies. But nowhere was there a mention of insurance - for cars, health or life. That seemed to be a major oversight.

Some specific good advice, "Don't try to outsmart the markets." Even though he was talking about the stock markets, that is great advice for any market.

He also gave some great advice on how to relate to employees. Most entrepreneurs are "go to" or "get it done" type people. And they often do not allow their employees to grow because they are doing the work for them. He gives a good couple of pages of advice on how to get more out of your employees.

I have a lot of trouble with one particular sentence. Masterson writes, "And when our parents become old and feeble, we put them in state or private wards with other people's parents so they will not burden us." I find this offensive. There is a growing problem with the elderly today. Our ability to keep people alive has outrun society's ability to deal with an aging population. No doubt there are some who do not want to be burdened. But the vast majority of people I know with elderly parents are more concerned with providing the best possible quality of live for their parents. For many it is simply not possible to take care of them and the parents are not capable of taking care of themselves.