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on June 26, 2014
This book offers a good investment plan which differs from a lot of other books I've looked at. Basic idea is to invest in income producing equities which send you dividends. Use those dividends to start paying your monthly bills. As you eliminate paying bills from your paycheck and use dividends instead, use the money you are saving on bills from your paycheck to buy more dividend producing stocks.
Pretty good plan I think, Especially when I looked up dividend rates on several stocks. For example my public utility dividends are appx 4%. To me that stock looks about as safe as a bank account, since the company is a monopoly with a guaranteed rate of return on investment per the Public Utilities Commission regulation. And 4% is whole lot more than anything at a bank is making.

Unfortunately for me I'm too close to retirement to really use this book, however the idea of investing in high dividend stocks does give me something to mull over for my 401 allocation after I retire hopefully in 5 years.

Even if I were younger I would have to do a lot of research on if this program could work for my situation. I'm not sure how good of a deal it is to take dividends out of your 401 prior to 59 1/2 . The author always worked as a contractor so his retirement fund wouldn't be the same type as I have.
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on April 19, 2014
This books is very easy to read. Once you start getting pay check, it tells you exactly how to lead few more of your life so that you won't have to wait for your next pay check. Every example given in this book is very easy to follow; everything adds up. I highly recommend this book. Next 10-15 years of my life, I am going to spend as suggested in this book and I am confident that I will be able to attain paycheck independence. Thanks.
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on February 4, 2015
Website for the book did not work and was useless
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on January 16, 2014
Paycheck Independence Day is now one of two I suggest in my curriculum -- along side Kiyosaki's famed "Rich Dad Poor Dad". I offer it to correct the contention that getting a good job is the Measure Of Performance for an education's Return On Investment calculation. Most are familliar with the latter's division of the "haves" and "have-nots" into those whose money works for them and those who work for their money. Rood's Paycheck Independence Day is really a nice, organic read that tells the average person HOW to make their money work for them. I dare call it a buddy-in-a-book, as it creates the essential bridge from theory to actually doing it in very friendly, personal terms. Myself, I found it full of nuggets. If I had to choose between the two works, I'd choose this one because it's where the rubber meets the road for anyone with a 9 to 5 to get started immediately on the road to wealthy behaviors, and do so without having to wait for some external condition to mature. It's a walk-you-through-it instruction manual on leaving the ranks of the "have nots" -- on "growing" those necessary external conditions to maturity from plow to harvest. There are plenty of books on how to maximize profit, or performance, or understanding. There are precious few good books on how to begin, and I choose this one.
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on December 2, 2015
Keep in mind that any stock, dividend-producing or otherwise, can go down in value, thus decreasing your capital significantly. Also remember that dividends can be reduced or suspended. Now, putting together an income-producing portfolio of reliable, dividend-producing stocks is possible, and you can earn significant amounts that way, but this is not something you will accomplish overnight. If it were that easy, everybody would be doing it. Further, you need a significant amount invested to get enough dividends to pay all your bills. If you are counting on 8-10% returns, you will be making some risky investments which can lose money. Again, there is some food for thought here, but be realistic. "Paycheck Help Day with Some Risk" would have been a better title.
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on March 1, 2014
When I first read this book, I literally read it straight through.

A great book, well written and very inspiring and motivating.

The author also gives great examples and you will find yourself comparing it to yourself .You don't have to have great ambitions to enjoy this book because even if you want to accomplish small things, it will help you get started. Small starts sometimes produce great results.
This book asks the reader to reexamine his or her life, to make a lifestyle change, and achieve those left behind dreams.

GREAT books. THANKS!!!!
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on January 16, 2014
The book was very inspirational. By reading the book i discovered a better ways to manage my finances. The author is very knowledgeable about the subjected. The book is also written in a very interesting and easy to read tone. The author included some personal stories and his wisdom which made reading this book very interesting and inspiring. The author, also provides practical examples. The examples provide clarity to the concepts and could be used for your own planing. This book is definitely an excellent resource on the way to wise management of your financial situation and it is fun to read.
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on January 16, 2014
The book is fun to read, and it gave me a lot of good advice on how to manage money. There are lots of different books on the market about money management but this one made it easy for me. I think this is a great book with a great step-by-step system that helps you to set up and reach goals. It's for everybody who has a job and doesn't want to depend on a paycheck anymore. I definitely recommend this book.
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on April 10, 2014
Since I have absolutely no head for business/investing whatsoever, what impressed me the most was this book's readability. The language is simple enough for readers with all levels of proficiency, and that's hard to find! Whether you're young and just starting out or already established in your financial life, the ideas in the book can be applied easily enough with relatively quick and very concrete results.
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on January 11, 2014
I highly recommend this great easy to read book. It's very informative with excellent sound advice. This book is a must read to get on the right financial track. Don't take my word for it. Read it and see for yourself.
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