9,99 €
Mehr erfahren.
- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Charles Carlson's book: "Eight Steps to Seven Figures: The Investment Strategies Of Everyday Millionaires And How You Can Become Wealthy Too".
This complete summary of the ideas from "Eight Steps to Seven Figures" shows that ordinary working people can create a seven-figure net worth within their lifetimes solely through a long-term stock investment program - and without starting out with a large chunk of capital or any specialist expertise. To prove this, 170 people with investment portfolios greater than $1 million were studied to learn the keys to their success. This summary highlights the eight steps these millionaires all had in common, such as “invest only in assets that always grow over time - which means stocks or mutual funds”, “accumulate steady gains year after year” or “take advantage of everything the government allows”. In other words this work demonstrates that nothing exotic is required to become wealthy. Drawing on real-world success stories, "Eight Steps To Seven Figures" offers you the best strategies adopted by millionaires.
Added-value of this summary:
• Save time
• Understand key concepts
• Increase your business knowledge
To learn more, read "Eight Steps To Seven Figures" and discover the key to successful investing.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 37
Veröffentlichungsjahr: 2013
Ähnliche
Book Presentation: Eight Steps to Seven Figures by Charles Carlson
Book Abstract
About the Author
Important Note About This Ebook
Summary of Eight Steps to Seven Figures (Charles Carlson)
Step 1: Start investing immediately.
Step 2: Establish meaningful goals.
Step 3: Buy only stocks or stock mutual funds.
Step 4: Don’t worry about home runs – just concentrate on getting to first base.
Step 5: Invest every single month – even if you don’t invest very much.
Step 6: Buy and hold … and hold … and then hold some more.
Step 7: Take whatever the government is prepared to give you.
Step 8: Have a stable lifestyle – so any shocks that occur are financial only.
Book Presentation: Eight Steps to Seven Figures by Charles Carlson
Book Abstract
Ordinary working people can create a seven-figure net worth within their lifetimes solely through a long-term stock investment program – and without starting out with a large chunk of capital or any specialist expertise. To prove this point, 170 people with investment portfolios greater than $1 million were studied to learn the keys to their success.
Their real-world experiences were then distilled into eight key steps they had all had in common:
Get started as soon as possible.Set meaningful goals along the way.Invest only in assets that always grow over time – which means stocks or mutual funds.Don’t try and make a killing. Just accumulate steady gains year after year.Add to your investments every month, even if you can’t add much.Don’t trade stocks. Buy and hold and then hold some more.Take advantage of everything the government allows.Maintain a steady lifestyle, living on less than you earn.What makes these eight steps and 170 success stories so compelling is that nothing exotic is required. In other words, any person with similar aspirations can do the same. Success in long-term investing isn’t limited to just a few with specialist knowledge or access to exotic systems. All that’s required is the right mindset, patience, personal discipline and perseverance. In fact, in many ways, success is just applied common sense.
Anyone can invest their way to a million dollars if they do the same.
About the Author
CHARLES CARLSON is a chartered financial analyst. He is the author of Buying Stocks Without A Brokerand No-Load Stocks. Mr. Carlson also co-authors two investment newsletters, The DRIP Investor and No-Load Stock Insider. He is co-manager of the Strong Dow 30 Value No-Load Mutual Fund. Mr. Carlson earned an M.B.A. from the University of Chicago. He has been widely quoted in the business press, including Forbes and USA Today. His Web site is located at http://www.8stepsto7figures.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Eight Steps to Seven Figures (Charles Carlson)
Step 1: Start investing immediately.
Main Idea
You’ll never have more than a million dollars in assets if you don’t get started somewhere. The power of compounding means time is your greatest ally. Therefore, begin now to switch some of your expenditure from consumption to investment.
Supporting Ideas
Compound interest is the single most important principle of investing. The greatest gains are always found in the last few years, but you can’t get to the highly profitable last few years without going through the low-profit early years.
For example, to achieve $1 million in assets by age 65 assuming an 11-percent annual return and a reinvestment of profits:
A 20-year old needs to invest $67 per month.A 30-year old needs to invest $202 per month.A 40-year old needs to invest $629 per month.A 50-year old needs to invest $2,180 per month.Investment success is the ultimate democratic process – a 15-year old has exactly the same opportunity to reach a seven-figure portfolio by age 40 as a 40-year old person does by age 65. And that holds true irrespective of race, creed or any other demographic factor. Investment returns are totally democratic.
The most frequently used excuses for not starting an investment program immediately are:
I don’t have any money to invest.
