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Creating Wealth: Retire in Ten Years Using Allen's Seven Principles of Wealth! Paperback – April 22, 1986
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Top Customer Reviews
In chapter 1 "We were programmed to fail from the moment we were born" Allen discusses 9 major misconceptions about money and why it prevents us from becoming successful. Interesting is that number 1 misconception is "Having a job is good and leads ultimately to wealth." That was originally written back in the 80's and certaintly no one will argue that having a job will lead to wealth is an incredible misconeception.
Another misconception that Allen covers is "Saving your money is a good investment." Is there anyone who really thinks that a savings account is an investment? Only those who are broke.
In chapter 2 Allen shows us "How to develop a wealthy mindset." This chapter includes Allens 5 steps some are familiar like affirmations, goal setting and a 30-second commercial (from Dr. Schwartz's book)
Chapter 3 "A fool and his money are soon parted." Allen offers his 7 wealth principles and where to put your money.
In chapter 4 "Launching yourself into financial self reliance", ALLEN outlines the three stages to wealth building;
1) The Pre-launch Stage
2) The liftoff or struggling stage
3) The Powerful pre orbit stage
In this section Allen discusses what to do if the economy goes bad. Where to put your money and what to do with your real estate holdings.
In chapter 5, Allen introduces the fourth stage to wealth--"the Automatic Pilot Principle." Allen then covers strategies for this fourth stage of wealth.Read more ›
Many techniques that are mentioned such as targeting assumable mortgages are out of date and useless. And many of the deals he covers as examples seem like a fast way to build up debt and incur monthly negative cash flow losses.
A google search on Robert G. Allen reveals that he is no longer pushing real estate but a vitamin multilevel marketing company. Also, a look at John T Reed's website reveals that Allen has filed for bankruptcy in the time period between when this book was written and today...1996, I believe.
There are probably better and more relevant real estate books out there. Since I'm still searching for my personal real estate methodology, I can't recommend anything now, but I would not recommend this book to others -- especially beginners.
Although many have attempted to copy Mr. Allen, most are mere imitations. His material remains fresh, strategies are workable and his writing style is entertaining and informative.
This book had been revised and updated. I also recommend Multiple Streams of Income, Nothing Down for the 90's (still works in the new millenium) and The One Minute Millionaire.
Creating Wealth is a classic and a must read for anyone who wants to create real wealth.
Creating Wealth was written back in the mid 1980's, interestingly enough, a time when the economy was very similiar to the current economy, a time when a strong republican was in office and a time when tax cuts and other powerful strategies were being introduced by the administration that was in charge at that time.
However, Creating Wealth is a good book for anytime. It offers timeless advice by Robert G. Allen, a man who has helped create more millionaires and financially successful people than anyone in history.
In this book by Robert Allen, a followup to Nothing Down which was at that time a national best seller and stillselling very well today, 23 years later, you will learn how to create a wealth building program tailored to your own individual needs.
In Creating Wealth, Allen explains the fundamental ideas and principles which made him a multimillionaire before he was thrity-five.
His surprisingly simple---and effective strategies can help any investor amass and maintain a fortune starting with little or even no money, yes, even in todays volatile financial climate.
The first step to becoming wealthly, Allen tells us, is to stop thinking poor. He shows how most of us have been programmed to think that only saving is good, debt and risk taking is bad, and that in our efforts to gain security we disqualify ourselves from ever making a substantial amount of money.
By developing the "wealthy mindset" as explained by Allen, you can launch yourself into financial self reliance. Robert Allen's practical and innovative investment advice, combined with a realistic set of goals and values along with a firm committment to getting ahead, can help you achieve a level of success you never dreamed was possible.Read more ›
Most Recent Customer Reviews
If you apply these principles only two outcomes are possible. One ...you retire in 10 years and two....you regret for rest of life. This is very risky approach.Published 10 months ago by Nagachandra Manohar
Yes it made my expectations and a very good book to give you an idea of how to create wealth.Published 16 months ago by Julio Carrasco
Great book! Just finished it about a month ago and although it was published in the 80s, many of its prinicples and teachings still hold true. Highly recommended read. Read morePublished 16 months ago by Shane Nolan
Great book to help you get your money right. Lots of good advice on real estate investing.Published on July 22, 2014 by TonyS
The item is not original nor is it in original case. Also, would have been helpful if the item were better described (length, not original, etc. Read morePublished on July 9, 2014 by Michelle Anderson