Trumping Richer - Dwayne Anderson - E-Book

Trumping Richer E-Book

Dwayne Anderson

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 " The illiterate of the future are not those who can't read or write but those who cannot learn, unlearn, and relearn." - quote by Alvin Toffler
What clearly he meant is that we need to learn and unlearn as we continue to stay updated with what that works and those that no longer works

Much has changed since the baby boomers days ,including the path of staying ahead amid today's age of disruptive technologies prompting creative thinking and more on ideation output 
To succeed from now , one must learn to accept the constant change to adaptation – continually unlearning old 'rules' and relearning new ones.
That requires continually questioning assumptions about how things has changed , non-valid old paradigms, and 'relearning' what is now relevant to pursue in acquiring your wealth.
This book is filled with excellent ideas and concepts of daily struggle to understand money science, It emphasize on how every salaried person need to struggle each day trying to recover his daily expenditure and living his life facing such rat race will just keep all these people locked down with each day only looking for ways and means to earn money .. the struggle pushes on

There is a lot here in this book that can help an individual move toward financial freedom through understanding money and the mindset required to become wealthy, of which means you need to know what it is that separates the wealthy from the Not-so wealthy.

What you need to know and identify with is what principles and what behaviour the rich have , and that you need to relearn . Some of which , you have not taken action to unlearn yet ,to stay current and getting ahead

" Happiness that Money brings cannot last " ,
With Money , People cannot necessarily materialize everything , However without money many things cannot be accomplished nor done 
Accumulation of wealth with the pleasure to have comfort , luxuries , reputable status , financial influence, freedom and popularity are what money usually can help to achieve , its provides a centralized role in our lives , at a general necessity stage level as it helps to clothe and feed us ,to put a nice accommodation for stay and pay the bills.
Money may not be everything, they may not even guarantee a happy life, but they are a pretty good basis to learn how to build happiness on ... for now 
I highly recommend this book to anyone who'd like to ignore the fluff available on the Internet and take action now.
Now that being said, this book assumes you know about the basics like Cash Flow, budgeting, etc.
It doesn't talk about investment mediums like stock market, bond, etc.
And the best part is that unlike many books, this book tells you not to lead a frugal life

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Table of Contents

Disclaimer:

Table of Contents

Foreword

Chapter 1: | Why Money Grows on Trees, If You Want To?

Chapter  6 : | Early  Saving  –Initial  Route to Entrepreneurship

Financial Priorities and Goals

Chapter 8: | The Money Mindset

Chapter 9: | Chasing Money

Chapter 10: | Earning your passive income

Chapter 12: | Cultivating the mindset of an entrepreneur

2. Responsibility :

Chapter 13 : | Proven Simple Strategies to Take Control of Your Money

Step 1: Stop digging a hole with how you speak: | (Poverty VS Prosperity Consciousness)

Chapter 15 : New Economy Trending

Chapter 16 :

Conclusion

Disclaimer:

Every effort has been made to be accurate in this publication. The publisher does not assume any responsibility for errors, omissions or contrary interpretation. We do our best to provide the best information on the subject, but just reading it does not guarantee success. You will need to apply every step of the process in order to get the results you are looking for.

This publication is not intended for use as a source of any legal, medical or accounting advice. The information contained in this guide may be subject to laws in the United States and other jurisdictions. We suggest carefully reading the necessary terms of the services/products used before applying it to any activity which is, or may be, regulated. We do not assume any responsibility for what you choose to do with this information. Use your own judgment.

Any perceived slight of specific people or organizations, and any resemblance to characters living, dead or otherwise, real or fictitious, is purely unintentional.

Some examples of past results are used in this publication; they are intended to be for example purposes only and do not guarantee you will get the same results. Your results may differ from ours. Your results from the use of this information will depend on you, your skills and effort, and other different unpredictable factors.

It is important for you to clearly understand that all marketing activities carry the possibility of loss of investment for testing purposes. Use this information wisely and at your own risk.

#Trumping  Richer , Money Just Never Enough , is a followup edition of “Money Never Enough, classified as  under 2nd edition  with additional 4 chapters with 50pages of  fresh content  and a  preface introduction on  update on the New economy since many new economic changes has been introduced since the new inauguration of the new First Office

Copyright © 2015 Dwayne Anderson

Table of Contents

TRUMPING  Richer , Money Just Never Enough

Preface

Foreword 

Chapter 1: Why Money Grows on Trees, If You Want To?

Chapter 2: Why Becoming Rich is a Really Simple Process   

Chapter 3: Why Studying and Working Hard No longer Guarantees Success

Chapter 4: Motivation and Taking Baby Steps to Wealth Consciousnes

Chapter 5: Start Today, Start Now - Power of Saving

Chapter 6 : Early  Saving  –Initial  Route to Entrepreneurship

Chapter 7: Financial Priorities and Goals

Chapter 8: The Money Mindset 

Chapter 9 : Chasing Money  

Chapter 10: Earning your passive income

Chapter 11 : Money Attraction

Chapter 12 : Cultivating the Mindset of An Entrepreneur   

Chapter 13. Proven Simple Strategies to Take Control of Your Money

Chapter 14: Unlearn To Relearn To Invest

Chapter 15 : New Economy Trending

Chapter 16. Wealth with Fulfillment will Attain Happiness - Continually Motivated to Create Your Dreams   

Conclusion 

Preface

During the 2016 Presidential election ,the whole scenario  was  shaping up to be ... another election dominated by economic issues. In polls, voters consistently rank the economy as their top concern, and candidates  have put big dollars and cents at the center of their campaigns , particularly in rural America where the loss of manufacturing jobs had greatly reduced families’ abilities to make ends meet.

To date, the status of the economy under the  sitting  President has been quite impressive. With the exception of small, temporary declines, the stock market is at record highs while unemployment is near record lows. Meanwhile, gross domestic product continues to grow. However, despite these positive results that indicate a strengthening economy, many economists are worried that a potential recession looms on the horizon.

The reasons for the concern relate to a number of the President’s fiscal policies. The first is executive actions that have loosened restrictions on banks and other financial institutions in an effort to circumvent the Dodd-Frank Act. This act was passed after the Great Recession of 2008 when it was found that banks were acting fiscally irresponsible in their issuance of loans in order for leaders to net bonuses. The results set in place a large economic collapse that impacted the world.

However, many in the Republican administration feel that excessive government regulation harms the economy. The weakening of this act begins opening the door for potential unethical conduct in the banking sector in the future.

Perhaps the biggest win for this presidential administration was the passage of a massive tax cut bill. The bill lowered the corporate tax rate from 35% to 20% and eliminated the estate tax among other things. It also simplified individual income taxes, reducing the number of tax brackets. However, it also eliminated many itemized deductions which could serve to actually increase the tax burden for some middle class families. While the tax cuts were favored by a majority of the population and touted as a job creation measure, the results have shown that they actually resulted in progressive positive changes .

Instead, corporations largely used the additional money for stock buybacks and executive bonuses. The major concern with the tax cut bill is its contribution to the national debt, with the tax bill aimed at added $1.5 trillion to the national debt over ten years. Many economists worry that such a drastic increase could cause great financial difficulty for the United States in years to come.

Another aspect of this President’s economic policies has been promoting the success of corporations. While the tax cut overwhelmingly benefitted the wealthy and corporations, the administration acted further to remove many regulations that hampered businesses. The Environmental Protection Agency rolled back a number of standards that made it easier for energy companies to make profits without having to worry about fines or restrictions on pollution.

Segments of the Affordable Care Act were eliminated, making it easier for health insurance companies to make greater profits by offering healthcare plans that are low cost but do not have many benefits. As a result of these policies, many corporations have seen record profits.

Perhaps the most significant aspect of the President’s recent economy policy has been the rumblings of trade wars. For many years, the United States largely engaged in free trade with international partners. However, the President’s administration has been strongly opposed to free trade in most sectors, arguing that other countries are taking advantage of the United States.

The initial action, in his first week in office, was removing the United States from the Trans Pacific Partnership. Currently, there is a discussion about pulling out of the North American Free Trade Agreement. However, efforts at economic protectionism have not been isolated to trade agreements. The administration has begun issuing tariffs on goods in a variety of countries.

The most notable have been over $16 billion in tariffs on China. China’s response to this was to enact an equal amount of tariffs on U.S. goods. Tariffs have also been imposed or threatened against Canada and various countries from the European Union, representing a drastic shift in American economic policy by threatening allies. While there is a likelihood that agreements can be reached with Europe, the prospect of a trade war with China looms very real and could cause a significant recession while greatly raising the cost of products for consumers in both nations.

Looking forward, one of the key items on the President’s legislative agenda is a proposed $1.5 trillion plan for infrastructure revitalization. This plan would repair America’s crumbling roads system which is in great need of attention and vital for transportation of goods. Economists largely consider this to be a positive plan as it addresses an issue of critical importance to the nation while providing for the creation of thousands of jobs. However, Congress has yet to take up discussion of the plan. It is unlikely that it will reach the floor of Congress until 2019 at the earliest. However, if this bill were ultimately passed, it would potentially stand as the greatest economic legacy of this administration.

Like many aspects of this administration, the economy is a tale of two realities. On one hand, it is very strong, reaching record highs in many economic indicators. However, there is also widespread concern that short-term gains were taken at the expense of long-term problems due to excessive debt.

Yes, as of now the economy  is now  #Trumping  Richer  , Money  Just  Never Enough  situation is at brink of  happening  again as most  individuals   will start to feel  the impact from  inflation and higher   costs  , caused  due from   his  higher tariffs for imported goods  which will eventually  realised into  higher priced  goods which kickoff as a domino factor to supplement  additional cost  on almost every  daily consumable products and services  affecting  every common folks and household .

Additionally,  due to  income inequality has been  well entrenched in American society and will continue to grow because of tax cuts. Realistically  the American economy is improving  and  performing well as indicators  has  shown in July 2018  ,  but  there is still  great poverty in rural areas, increasing the prevalence of social problems such as drug addiction. It is this income inequality that many people consider the greatest threat to continued American prosperity as the majority of the wealth is now controlled by an increasingly smaller minority of the population.

Furthermore, the President continues to defy even leaders of his own party in threatening increased tariffs. Many experts believe the development of a full-fledged trade war with China will result in significant economic problems that could cause a worldwide recession.

Ultimately, the coming months could very well reveal whether or not this administration’s economic legacy will be a positive one or a negative one.

Foreword

Today there are new problems: money is facing possible  hyperinflation, the US Dollar may  have regain  to a better  value, property prices are going up so fast the average family cannot even afford, and the middle class is being wiped out

Are you struggling in the ‘rat race’ and never seeming to get anywhere financially; or are you already having financial freedom?

Financial freedom - everyone wishes to have it, but few people actually know what it would take for that to happen. Sadly, there is often a great misconception that to have financial freedom we have to work hard to make money, and that money is not worth anything unless we’ve worked hard to make it.  The truth is, financial freedom is much more than having money. It’s the freedom of choice to be who you really are and do what you really want in life. It’s about the ability to live and the ability to create with money and to use money to generate other possibilities.

Take a few moments to ponder, “What would it take for you to have financial freedom? What would it take for you to be abundantly wealthy in every way possible and in how you live everyday? Do you believe that it is truly possible for you to have financial freedom?” How would your life change if you were to have financial freedom to do what you really want in life? This would likely result in a significant lifestyle change for most people.

What’s keeping you from having financial freedom?

In most cases it is simply your point of view and your lack of belief that it is truly possible for you to have financial freedom. One of the biggest issues with this point of view is that it constrains you to spend your life clinging to job security. The problem with this approach is that the opportunities are often limited by how hard you can work and how many hours there are in a day.

We can say with confidence that any person on this earth can make the choice to have financial freedom, create different possibilities and generate amazing money flows. Financial freedom is not a matter of luck, fate or circumstances, but a direct outcome of making some essential changes in your outlook and in your life. In order to have financial freedom you must believe that you can do it and you must be willing to take the action and do what ever it takes to achieve financial freedom.

If you do not yet have financial freedom, this book will point you toward the future and inspire you, show you what is truly possible. Financial freedom is largely determined by you, and by your own choices and decisions. Your financial future is in your hands. It is very much up to you.

The very best way to have financial freedom is to create it

The only way for you to achieve and enjoy all that is possible for you is to create your own financial future. And the good news is that there have never been more opportunities, in more different areas, for you to fulfill your dreams and goals than there are today. Even with the recent economic down turn, we live in the most prosperous time in all of history with more opportunity to generate wealth and achieve financial freedom than there has ever been before.

Limitless possibilities and immense opportunities are present every day of the week; the question is, are you prepared to receive them and benefit from them? The single most important quality you need in order to have financial freedom is the ‘willingness to be more’. You have to choose to be greater than you have been willing to be.

Are you ready to take the first step on your personal journey to financial freedom and success?

Yes?

Awesome! – then the first thing to realise is that financial freedom is not an extraordinary privilege or a special treat that is only bestowed to some people and not to others. It is a knowable and attainable state of being that is available to you if you choose to claim, own, and acknowledge it. 

Most people choose to operate within the limitations of this reality. The default route to financial freedom for most people is to ‘work hard for a modest salary’. They choose to be in agreement with everyone else about what is. They reject what they could have. One of the biggest issues with the need for security and comfort is that the benefits of developing financial freedom are constantly postponed.

If you can relate to this depiction above you are operating within the limitation of this reality, and it is not your fault. But after reading this book you will have the power to change. You will get an insight into what has been obstructing you from creating your financial freedom and discover essential powers that you can cultivate and use to create your own financial freedom.

The information contained in this book will first provide you with crucial knowledge, and then proceed to empower you with the ability to take action to create your own financial future. I know it can be intimidating to make change happen, but think about it: if you don’t take action now, what does your financial future really look like?

Are you aware that you generate financial freedom, wealth and prosperity not by what you do or have, but by who you are? Are you aware that your point of view determines whether you will struggle in frustration or live an extraordinary life of abundance and wealth?

Is this book for you?

The good news is that financial freedom isn’t that hard to create. The best way to overcome your current limitation is to embody and be the greatness that you truly are. 

This book is a resource for you if you are choosing to have financial freedom and to create a life greater than what you now have. The inspirations and transformations you will receive from this book will facilitate a wave of change in your financial state and in your life.

The information in each chapter in this book is proven to work because these are the qualities of the most wealthy and prosperous people in the world. However, reading this book alone will not create your financial freedom. You still need to take appropriate actions to change your points of view and create your own future. You must apply the knowledge and awareness that you will acquire from this book and make a conscious choice to actually take actions to create your own financial freedom. If you are not prepared to change and to generate different possibilities, there is no point in reading any further.

However, if you are ready to let go of the limitations, and take a leap to generate your abundant financial future, and to have financial freedom that you didn’t even think were possible – this is the perfect place to start. Let’s dive in!

"Creating financial freedom is no harder than   not creating financial freedom!"

And it’s immense FUN, too!

You will be able to lift the veils of secrecy to uncover the common threads, which have run through the lives of the people throughout history who have achieved great wealth and - more importantly - kept it!

The practices, insights, and inspirations contained in this book will set in motion a whole new way of being and living with awareness. You will begin to perceive, and receive the truth that financial freedom has nothing to do with what you are doing and having. It has everything to do with what you are being. The tools and practices that this book offers will continue to assist you in expanding your financial future and letting go of your limitations long after you stop reading.

Are you ready to change your personal finances once and for all? If you’re ready to take command of your life, attain unlimited possibility, and choose being abundant in all things your number one priority, then you’re ready to experience the information provided in this book. This book provides you with inspiration, and transformational practices you can use on your path to wealth, success, and money with consciousness.

To experience unbridled joy, exuberant expression, and remarkable financial freedom, regardless of its challenges, all you have to do is choose to make the 5 essential powers the guiding principles in everything you do.

These will, in turn, affect many other areas of your reality and the world at large. Each time that you choose to embody and be the greatness that you truly are, you change this world into a place in which people can live with total awareness, joy and infinite abundance. Not just you, but every other being in this world, is affected by the choices you make.  .....Raymond  Wayne

Chapter 1:

Why Money Grows on Trees, If You Want To?

With money, human beings cannot necessarily accomplish everything. However, without money, many things cannot be accomplished.

- Money Never Enough

The concept of retirement has changed

What that retirement looks like has changed dramatically in those three generations, from the early days of the last century until today. People have far different expectations of what those years will be like. Decades back, the “three-legged stool” was a standard of retirement planning. The legs represented the three bulwarks of retirement finances, which were Social Security, a company pension, and your own savings and investments.

An advisor back then was simply helping clients to make the most of their savings and investments, allocating their portfolios to reduce risk and earn a fair rate of return. However, people were less dependent upon that money than they are today. Many people thought of that money as just something extra.

Collapse of the three-legged stool

That three-legged stool has changed forever. In fact, it is wobbly to the point of collapse. The only strong leg left is what retirees can do for themselves through their investments. A great many people have most of their savings in a retirement plan—a 401(k) or an IRA. What used to be just that something extra now makes up the bulk of a retiree’s financial security.

As retirees live longer, they must find ways to make that money last. In effect, they now must create their own pension from their own assets, and they face a momentous challenge in learning how to do so. In many cases, they simply are not prepared.

They’re facing a wide range of problems and uncertainties, not the least of which is dealing with the longevity that medical advances have made possible. The cost of health care has been increasing significantly faster than inflation. Medicare and Medicaid are in question, and retirees fear they cannot afford long-term-care insurance. They face an economy of low interest rates, a housing crisis, and unemployment. People often are being involuntarily forced into retiring early. The stock market went through what has been called a lost decade, with volatile swings that denied people the kind of returns they had been expecting. We’re dealing with a significant amount of government debt.

Redefining Retirement

In the face of those challenges, 78 million baby boomers are looking to retire, and if they are to succeed, they must redefine retirement. It’s no longer a simple matter of a gold watch, a pension, and Social Security.

A few generations ago, they commonly moved in with the children. Grandpa and grandma lived at home. But relationships are far different today, with families often living on different coasts. It takes two wage earners to get by, in many cases, meaning that nobody can be home to offer care for elderly parents when that time comes. So grandma and grandpa need to make it on their own far longer than ever before—often, 25 years or more.

That’s long enough that inflation, even at a conservative rate of 3 percent, can devastate their nest egg. Most retirees are not grasping the gravity of that situation. And often, at the end of that long stretch of retirement, they will need professional nursing care, and many have not prepared for that.

It is quintessential to start planning early

Few years ago, I started my financial planning brokerage firm and I had an opportunity to work with clients, helping them control money instead of money controlling them. I learned a life lesson that people are so susceptible to making mistakes that they let money fall through the cracks. Their investments, over time, dwindle.

I also came to understand how to help people achieve their goals of financial security rather than see such losses time and time again. I learned that there was a better way. I knew that despite any market correction that might come our way, you can still earn a fair rate of return and be assured of a reasonable income that’s adjusted for inflation. You can put the right plans in place for long-term financial security.

Life is a bitch! But it is your greatest mentor.

What I learned is that my industry does not often teach people that. The goals of so many in my industry are unfortunately not in line with the goals of the average investor, who is being fed a lot of false information, some of it intentionally. People are being harmed.

I recently met with a couple who had a million dollars invested through a broker. They were taking out a reasonable amount of income. They had used the same broker for years as they accumulated money during their working lives. But before that couple came to see me, their broker had told them, “Now you only have $600,000. You need to reduce your income or sell your vacation home because you’re going to run out of money.” It was the broker’s fault, not theirs, yet they had no recourse. They had been given bad advice.

The couple’s CPA referred them to me to analyze why they were running out of money. When I ran the numbers for that couple, I explained that if they had followed our advice, they would probably have about $1.2 million. That’s a difference of almost $600,000 that they lost because of bad advice. They were still operating as if they were in their accumulation years.

They were taking too much market risk, and at the same time they were withdrawing money from those equities, even as the market plunged, and they were paying high fees. That’s not an income plan.

Because they didn’t know about a simple process, it cost them hundreds of thousands of dollars—and possibly their lifetime financial security. The root of their problem was that they were still with a broker who focused on the accumulation of assets. They had never made the move to an advisor who specializes in building wealth. In fact, they were unaware that such advisors existed.

A new stage of life

Most people would not attempt to climb Mount Everest on their own. Typically, climbers will look toward Sherpas, who have served as guides for generations in Nepal, high in the Himalayas. They help climbers prepare and show them along the routes that will get them to the top. They are seasoned and know every detail of the trails. But your guide is even more essential if you are to make it back down safely. Coming down the mountain can be the most perilous part. You’re tired. Your defenses are down. You may very well fall at the critical moment. You need that guide.

As you approach retirement, you are moving to a different phase of life. You are descending the mountain. For years, you have been climbing, in the accumulation phase of your life. Now you should be preparing to reap the benefits of all your hard work. Your stance now should be to preserve your life savings.

When people are in the accumulation phase, they’re saving, they’re growing, they’re investing, they’re taking that risk, and they’re accumulating those assets. That might be in the form of a 401(k). They’re adding to that 401(k) over those working years. When the market has a correction, they might not enjoy looking at their statements—maybe they don’t even open them—but hopefully they’re still adding to their retirement accounts. They still have an income, so they don’t need to tap those savings.

Those people will recover from a market drop much faster because they’re not taking any money out and they’re adding new money to the account, and possibly their employer is contributing to it in a match, as well.

Their experience is: “I saw a drop, but within a few years I was back to where I was, and more.” They may come to expect the same in their retirement, but they will be in for a rude awakening. Not only will they be withdrawing from the account in retirement, but they will no longer be contributing to it. If the market dips, they will be in financial peril.

In retirement, people should move from accumulation to preservation. You must live off of what you’ve accumulated, and it must last your lifetime and your spouse’s lifetime if you’re married. The focus changes to preserving what you have and generating income off that money as efficiently as possible.

You need to build your wealth

That is when most people change advisors. Most advisors focus on accumulation. When the market corrects, they tell you to hang in there, the market will come back, wait it out. A retirement planning specialist, by contrast, focuses on retirement. You need qualified advice, and it must be specific to you. You cannot make a plan around the water cooler. What may have worked for your coworkers and friends and neighbors will not necessarily work for you.

If you do not change your investment strategy for retirement, you risk cracking the nest egg that you nurtured so long and losing much of it in a few years. Even if you had a million or more, you might have to go back to work against your will. It could be that bad. If during all your working years you saw the market bounce back after a correction, you may continue to think that’s always the case. But if those bad years come early in your retirement, and while you are withdrawing money from your account for income, your portfolio is unlikely to ever bounce back, even if the Dow does. That can seem like a foreign concept to those who are still in the accumulation mode.

They may refuse to believe it could happen to them, and they end up sadder but wiser. Millions of retirees who were in that situation in 2008 are nowhere near back to breakeven.

I will explain later in this book just how that startling scenario develops and the steps you can take to make sure it doesn’t happen to you. You don’t need to live in anxiety, watching every tick of the markets. With proper planning, you can move forward in comfort and certainty, no matter how the economic winds blow.

You deserve financial freedom

In this book, I want to make it clear that you can set up a plan that will give you security and peace of mind for the rest of your life. That plan will take into consideration your individual needs as well as your goals and desires for yourself, your family, and for posterity.

In these pages, you will find a wealth of advice on a wide range of topics on building your wealth towards the path of being a millionaire. I will help you understand issues of inflation and other threats to wealth and well-being. These are issues that weigh heavily on our minds. I want to reassure you that you can move forward with confidence and freedom from debilitating fears. Yes, it is likely that you will see money falling through the cracks, but now you will be able to see those cracks and take steps to repair your portfolio.

Many of my clients—and those on the cusp of retirement—learned a harsh lesson in 2008. They need not have suffered that way if only the proper advice had reached their ears. I want to do my part to remedy that situation so that millions of retirees can remain securely on the path to prosperity.

When it comes to mismanaging our finances, it’s easier to blame others than to admit that it was our fault. It is crucial that we accept the truth that we are one hundred percent responsible for our finances.  Change begins now, with you.

Chapter 2:

Why becoming rich is a really simple process

It was spring of 1950.

A young boy was close to graduating and he felt that he is fully qualified to achieve his goal of becoming a millionaire by age thirty-five with no further education.

He was so certain that he would be chosen at Harvard that he wsas already urging his close friend to join him at Harvard, without even applying for it. 

He qualified for a scholarship and he took a train to Chicago for his interview at Harvard.

He was nineteen, two years younger than most of the college graduates and much younger than an average business-school student. He had good grades but not quite excellent.

He was quite confident that his knowledge of stocks was enough to make an impact. He was asked to enter a room and introduced himself to the interviewer. Ten minutes past, he got the shock of his life. He never got an opportunity to show off his knowledge of stock. The interviewer rejected him and gently told him that he would have better chances in a few years.

Naïve, as he was, he didn’t take the idea of rejection very well. When he received the rejection letter, his first thought was, “What will I tell mom and dad?”

He started digging into other graduate schools and he narrowed down two names: Benjamin Graham and David Dodd, while browsing through the catalog of Columbia Business School. Now, Harvard was his dream but he was always mesmerized by Graham’s book - The Intelligent Investor.

Unfortunately, he was past the admission dates and it was too late. Or was it?

He was determined that he would go to Columbia so he decided to write an application.

“I wrote in August, about a month before school started, way past when you were supposed to do it. Who knows what I wrote? I probably wrote that I just found this catalog at the University of Omaha, and it said that you and Ben Graham taught, whereas I thought you guys were on Mount Olympus someplace just smiling down on the rest of us. And if I can get in, I’d love to come. I’m sure it was not a very conventional application. It was probably fairly personal.”

The application, however unconventional it was, landed him admission in the college without an interview, even after the deadline.

Today, he is a self-made billionaire, an American business magnate, investor and philanthropist. He is the most successful investor of the 20th century.

Warren Buffet!

If Warren Buffet can become a billionaire from the ordinary, so can you!

Why aim for a million?

Why are we talking about becoming a millionaire? I think people want to become a millionaire because it's a nice round number. It is enough to be life-changing when you've got it, though not so much as to be frightening; and many of us feel that it ought to be attainable.

Most of us probably know someone who has a millionaire worth - although they often don't look like it, and a lot will have an ordinary lifestyle. On the other hand, there are many people who are living millionaire lifestyles - great designer clothes, luxury holidays, pricey watches, and expensively 'interiorly decorated' homes, whose net worth is no better than yours, and maybe a lot worse.

What you, and other observers can't see, is what is paying for these lifestyles; the debts piling up, the heavily mortgaged house and the stack of maxed-out credit cards. That is not what I mean by millionaire.

What I am describing here is having the security of a million dollars (or pounds, euros etc) in cash, investments or business assets to provide you with an income which means you never need to work again unless you decide to, in order to further improve your lifestyle or your wealth.

I do not include in that million the value of the equity in your home, although that's very valuable. But it doesn't provide you with the income you need to live on.

Of course, a million isn't what it used to be. I have read that a millionaire of the 1950's would be the equivalent of a deca-millionaire today, that is, have over ten million.