Eight Steps to Seven Figures: The Investment Strategies of Everyday Millionaires and How You Can Become Wealthy Too

Abridged Audiobook

Written By: Charles Carlson

Narrated By: Charles Carlson

Publisher: Random House (Audio)

Date: July 2000

Duration: 5 hours 15 minutes

Summary:

In the tradition of the megabestseller The Millionaire Next Door, Eight Steps to Seven Figures brings together in-depth interviews with over two hundred everyday people whose investments have made them millionaires. But while The Millionaire Next Door describes its subjects' lifestyles and spending habits, Eight Steps to Seven Figures focuses squarely on the investing strategies and principles that ordinary people have used to achieve the magic million-dollar mark.

Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they choose as part of their investment mix. In the course of the book, readers learn how to determine how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free. Among the lessons he outlines and elaborates on:

"Buy and Hold and Buy and Hold and Buy and Hold"--Harness the power of time in growing your portfolio and compounding your investment returns.

"Know Where You Are Going"--Determine your invest        ment time frame, financial goals, and risk "comfort" level to put together a successful wealth-building strategy.

"Play to Your Strengths"--Everyone has different personality strengths, investment advantages, and specialized knowledge that they bring to the table; recognize and exploit them in achieving your financial goals.

One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life, and can't fully harness the power of time, can find here the guidance they need to become wealthy.

Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, Eight Steps to Seven Figures is an absolute must for today's investors.



Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they chose as part of their investment mix. In the course of the book, readers learn how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free.

One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life and can't fully harness the power of time still can find the guidance they need to become wealthy.

Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, EIGHT STEPS TO SEVEN FIGURES is an absolute must for today's investors.-->


From the Trade Paperback edition.

Genres:

  • Natalie

    This audiobook is worth listening to in order to grasp a realization of how you can save for your retirement and have a seven figure portfolio, no matter what age you start investing. It gives you a nice breakdown of the differences between risks associated with stocks, bonds, mututal finds and savings accounts. He gives practice advise on blue-chip stocks to invest in. Worth listening to.

  • Anonymous

    I think this book is great, it doesn't go too much into detail, talks about the common person who works hard and is serious about saving for his/her future. I'd say a lot of the advice is common sense, if you have very little background in money management, this book will be very good. Otherwise, for those who are a little bit more knowledgeable about financial security, it is a good review.

  • Anonymous

    It bumbles along with out much excitement, although I listened t it in one sitting. Worth a listen if you just suck at stock investing and need some basic pointers (as I did).

  • Anonymous

    I liked this book a lot. It is not a get rich quick scheme. Riches is a slow and methodical process. Charles confirmed everything we believed in. A good book for younger people. I recommend it. Not too late for older people either!

  • i feel like a moron

    In short, I found the first 3 discs slow and laborious... basic stuff, yadah yadah yadah... Then late in disc 3 (early disc 4) I was struck by lightening. Suddenly I had one of those "Ahah!" moments... what an IDIOT I've been investing... newsletters, "tips", Broker recommendations... had I simply done what Carlson recommends (and I went back and did a "what if" analysis), my retirement would be TWICE as big today... and with less risk. It's not about picking Winners... It's avoiding the Losers. I have my own personal mutal fund of losers... gosh I wish I'da heard this back in 2000.

  • Phillip Tavolacci

    I wish I would have had this book when I was young. It gives practical advice and examples which will help the average person get started and stay motivated to invest in their future. It is easy to listen to and easy to understand. His examples are from everyday people and doesn't discourage anyone - regardless of circumstances. I'm glad I rented this one.

  • Anonymous

    Excellent for anyone who wants to start investing. Not a get rich plan, but a soild investment tool that is time proven.