Book Review: Creating Wealth by Robert G. Allen (@BestSellerBob )
“It is commonly held in our society that finding a good job, working hard, and moving up the ladder to more responsibility will eventually take us to golden retirement years of wealth and happiness. The fact of the matter is that a job merely supports the habits we have (like eating), but it rarely leads to wealth. As one shrewd observer put it, “Wealth is when small efforts produce large results. Poverty is when large efforts produce small results.”
“No matter how much you love your job, expecting it to make you wealthy is like looking for gold in a salt mine. If your large efforts are only producing small results, you had better check the road map. You may be on the road to poverty.
“The answer is not to work harder, but to work smarter. A job should be looked upon as a temporary inconvenience. It is a method for generating cash flow for living expenses while you are setting up an automatic pilot (more on this in chapter 5). Thus, having a job is necessary for a while, but don’t forget the other part of the equation. Your ultimate goal is to acquire ownership of a genrrous source of income that flows to you regardless of your job. Accomplishing that goal is what this book is about. “
I’ve had Creating Wealth on my chef for awhile and finally got to it. As with 100% of books I finish, I’m glad I finally did.
Robert Allen has simple, matter-of-fact approach to his recommended method to wealth, which is the ownership of real estate and many intracacies in the that business he is more than happy to share in detail. He even address the many common objections.
- Don’t have money? Time? Knowledge? Credit? Connections? Courage? Someone else does, and that person will trade his for what you do have.
- No idea where to begin? Well, read the book. He covers that very well.
- How specifically can you start based on your personal situation? Yes – covered.
Favorite Part: when the author, whose periods methods had been questioned and outright ridiculed by others in the media, offered to show how he could land in a city in which he knew no one and had no money and, within 72 hours, would own a house. News outlets took him up on his offer and he succeeded – twice.
Allen also is great at using real-life examples to illustrate the information out across. Though in not yet into the real estate buisness, Creating Wealth is a book I will be referencing heavily when I do jump in.
You Should Read If:
- You want to create wealth – many of the principles, especially the mental ones, apply to any business.
- You’re in the real estate buisness or want to get into it.