Title: Automatic Wealth for Grads
Author: Michael Masterson
Pages: 6 discs?
Genre: Self-help, Personal Finance
Grade: F
Synopsis: Michael Masterson is a self-made millionaire who shares his secrets in this book on how new graduates can also become self-made millionaires by the time they are thirty. The secret is to have your income increase exponentially, start your own business and sell it for millions and buy and sell real estate until you are rich.
My Review: I like to think that I would have been a skeptical reader of this book in 2007/2008, but in today's economy and marketplace, the instructions and estimates in this book are laughable. As an example (These aren't direct quotes, but my interpretation): "we'll be conservative and assume that you will only profit 12% per year in the stock market, but really you should be able to make around 25%." Or another, "Real estate investing will allow you to profit between 25 and 50%, while the best option of all is to start your own business (not a restaurant) where you can profit 50%!" I found Masterson's tone annoying, his list after list of what you should be doing ridiculous and most of all, I felt that the entire book was based upon unsustainable tenets. All you millionaires by thirty out there will disagree with my review, but I haven't come across too many lately (ps. even if your starting salary is only $20,000 you should be making $150-$250,000 in a few years if you are diligent!).
Since January 3, 2007
