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Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Paperback – April 5, 2005
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"Most readers will be looking to make money more quickly than over a lifetime, and this is where Allen gets interesting."CityWire.co.uk Friday 23 May 2008
From the Inside Flap
Would you like multiple streams of lifetime income flowing into your life?
If you answered " YES!", then you will profit from Robert G. Allen' s Multiple Streams of Income, Second Edition. In these pages, the bestselling author of the #1 megahits Nothing Down and Creating Wealth shows you how to create multiple streams of lifetime cash flow. You' ll learn ten revolutionary new methods for generating over $100,000 a year- - on a part-time basis, working from your home, using little or none of your own money.
A bestselling financial author and mentor, Allen has researched hundreds of income-producing opportunities and narrowed them down to ten surefire moneymakers for the new millennium. Now revised and updated, this practical, no-nonsense guide reveals Allen' s findings and shows you:
- How to retire wealthy on a dollar a day
- How to earn an extra million in your lifetime
- The 9 characteristics of the ideal home-based business
- Low-risk ways to double your money in the stock market- - FAST!
- 9 ways to find super real estate bargains
- How to earn 18%, 36%, and up to 50% returns on your investments- - guaranteed
- How to earn as much as $1,000 a day right from your own home
- How to profit from the Internet explosion
- How to become an information multimillionaire
- How to cash in on the secrets of intellectual property
- Plus- - how to keep more of your money using tax shelters
Now better than ever, this revised edition features completely updated charts, tables, and graphs, as well as an entirely new chapter with twelve powerful newways to earn extra income through real estate.
Multiple Streams of Income, Second Edition is the result of a lifetime of research and experience in teaching thousands of people how to achieve financial freedom. And now it' s your turn. In this book, you' ll learn how one good idea can set you up for life!
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For me, the beginning of the book was best because it lays out some important basics about money and wealth building.
If anything, it would be best to look through the book and read on specific topics of interest to you.
His other income streams are about investing in real estate, which is also good material, but definately harder then he makes it out to be. To his credit he does state that only 1 out of every 100 prospects will be willing to do business the way he is suggesting. Therefore my point is that I wouldn't call this income stream "part-time" or easy. It would take a lot of marketing work and aggressive searching to continually and consistently produce 100 prospects so you can get one deal out of it. Investing in real estate is a great income stream, but most seasoned investors including myself will tell you it is pretty hard, does require some of your own money (at least a little) and is NOT part-time work.
His final income streams are about using the Internet, MLM, and what he calls infopreneuring, which is selling your expertise on a topic in books, seminars, special reports, audio tapes, etc. Each of these streams take A LOT of work, if you don't believe me try sitting down and writing a 300 page book on anything. Doing MLM can be a powerful way to market products, but it takes a lot of work and effort to build it up. The Internet chapter was one of the weakest in the book. It gave some very general advice, but if you don't know how to develop your own web site and aren't very good with computers you will be paying someone else to do the development, which will require your own money and a lot of time to turn it into a successful business. Just because it is located on the Internet doesn't mean you don't have all the same problems any business faces, i.e. generating traffic to your store (site), sales, repeat business, operations, etc.
Now saying all this probably has people thinking I am trashing the book, which is not true. I think the book has some good advice and the "multiple streams" of income idea is great, but I think he paints a rosy picture of how much work, knowledge, experience, and money it will take to make these income streams work for you. If you read the book with the understanding that you need to have a strong business background and will still be putting in a lot of work and time to develop each of these streams then you will enjoy the book. If you think you will find all the answers to developing a life time of multiple streams of income and it will be easy to get them all going and more importantly keep them going you will be disappointed in the book.