Getting Rich In America: Eight Simple Rules For Building A Fortune--And A Satisfying Life - Hardcover

Lee, Dwight R.; Mckenzie, Richard B.

Hardcover

ISBN 10: 0066619823 ISBN 13: 9780066619828

Publisher: HarperBusiness, 1999

Synopsis

Identifies eight rules for amassing fortune based on case studies of people who became millionaires while earning an average income

About this title

Review:

Even if you never earn more than $50,000 a year, you can still retire a millionaire--just choose to live a disciplined yet fulfilling life. Save and invest at least 10 percent of your income, never buy a new car, focus on the long haul and family, work an extra part-time job--these are among the disciplines that can get you to $1 million and more, write business professors Dwight R. Lee and Richard B. McKenzie in Getting Rich in America. In fact, the authors say, there are eight simple rules that will help enrich your life: Think of America as the land of choices; take the power of compound interest seriously; resist temptation; get a good education; get and stay married; take care of yourself; take prudent risks; and strive for balance. "If you do everything on the list, building a fortune as well as a satisfying life is virtually assured. How could you miss?" write the authors. The most important step: Invest as much of your income as early in your career as possible, in a mutual fund that follows a stock index like the S&P 500. Stash away $2,000 a year beginning at the age of 22 in a fund averaging 15 percent and you could retire at 65 with $6 million. The book features some inspiring vignettes of average Americans turned millionaires. And it provides formulas to calculate your own retirement nest egg based on when and how much you save. For investors and anyone looking for ways to save, Getting Rich in America shows that it isn't as hard as it seems. --Dan Ring

About the Author:

Dwight R. Lee is a professor at the College of Business at the University of Georgia. He lives in Atlanta. Richard B. McKenzie is a professor at the Graduate School of Management at the University of California, Irvine. He lives in Irvine, California.

About this edition

• Publisher: HarperBusiness
• Publication date: 1999
• ISBN 10: 0066619823
• ISBN 13: 9780066619828
• Binding: Hardcover
• Edition number: 1
• Number of pages: 240