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Automatic Wealth

The Six Steps to Financial Independence

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Automatic Wealth

Written by: Michael Masterson
Narrated by: Alexandra O'Karma
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About this listen

 The advice and concepts outlined in Automatic Wealth are best suited for those in their 30s-50s who recognize that their current job will never afford them true financial independence. Rather than encourage readers to quit their day jobs today and launch into a new scheme tomorrow, Masterson shows how to turn your skills and experience into significantly more money within seven to 15 years. For those just getting by, he details how to get the biggest pay raises now and how to move into more lucrative ventures in the near future. For those with some savings, he offers specific advice on building equity and increasing net worth significantly and quickly. Since Masterson made his millions starting and developing small businesses, he encourages people to become entrepreneurs themselves and discusses which kinds of ventures to invest in and which ones to avoid. He also stresses the importance of developing multiple income streams, offering chapters on real estate, stocks and bonds, consulting, direct mail, and other opportunities.

In addition to concrete steps, Masterson also writes about attitude and expectations. His first step, in fact, is to take an honest and realistic assessment of your current financial situation and prepare yourself to change habits. He stresses that you must make getting rich a priority and devote the necessary time to it--act immediately and don't wait until the perfect moment to change your situation (hint: the perfect moment rarely arrives.). Clearly written and filled with informative anecdotes and examples, Automatic Wealth will not make you a millionaire overnight. It could, however, make you one in a decade, and that's a timeline most people can deal with.

©2003 W. Dale Cramer (P)2003 Recorded Books, LLC Personal Finance Business
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Profile Image for Somaiah Ahmed

One of the best books I read

Practical advice , it will expand your horizon . Now I’m going to find my side gig

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Profile Image for Immanuel

Generally very helpful, but a bit outdated info.

This book movtivated me to start building wealth now. The concepts in it are all something I've either considered, or currently do without well deserving focus and goals. Mr. Matterson (Ford) carefully lays out ideas for steps in this plan to build wealth, thereby making it realistic and attainable with reasonable timeline. Only negative aspect is that the content is a bit outdated in regards to the internet and direct marketing. But this is minor and shouldn't really affect the reader's understanding of the concepts explained.

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