Missed Fortune: Dispel the Money Myth-Conceptions--Isn't It Time You Became Wealthy? | 
 enlarge | Author: Douglas R. Andrew
Publisher: Business Plus
Category: Book
List Price: $19.95
Buy Used: $2.86
You Save: $17.09 (86%)
New (23) from $6.98
Avg. Customer Rating:  41 reviews
Sales Rank: 49606
Media: Paperback
Number Of Items: 1
Pages: 560
Shipping Weight (lbs): 1.3
Dimensions (in): 9 x 6 x 1.5
ISBN: 0446693502
Dewey Decimal Number: 332.02401
EAN: 9780446693509
ASIN: 0446693502
Publication Date: April 1, 2004
Availability: Usually ships in 1-2 business days
Condition: Shows some signs of wear, and may have some markings on the inside. 100% Money Back Guarantee. Shipped to over one million happy customers. Your purchase benefits world literacy!
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Product Description
Missed Fortune. Dispel the Money Myth-Conceptions-- Isn't It Time You Became Wealthy?Why do people need this book?Financial independence. Wealth empowerment. Millions of people dream about prosperity, many even take steps to achieve it, but few actualize the goal. Why? Missteps - flawed strategies - something this book calls "money myth-conceptions."Missed Fortune empowers the reader with the knowledge to attain a greater degree of financial independence. Twenty-three reader-friendly chapters each reveal a wealth enhancement strategy that challenges common money myths, opening the way to personal prosperity.Who should read this book?Homeowners, IRA and 401k retirement plan participants, those desiring financial independence, retirees, and those already in a state of financial independence will all experience a meaningful transformation as they are enlightened by opportunities they didn't know existed.Why is Douglas Andrew an authority on this subject?As a successful financial analyst, lecturer and consultant for nearly 30 years, Douglas R. Andrew has enabled clients nationwide to dramatically increase their financial independence. His comprehensive knowledge of tax issues, experience in financial planning and unorthodox insight have proven an invaluable asset to thousands of individuals. In this book, he shares his tested recipe for enhancing financial liquidity, safety, rate of return, and tax benefits - with a unique ability to take complex financial issues and make them simple to the layperson.How is this book distinguished from other books on the topic?Rather than reporting on the attributes and habits of millionaires, this book outlines specific common sense, yet unconventional, financial growth strategies. These principles simply, thoroughly educate the reader on how to methodically reposition and leverage one's assets to substantially increase net worth. Readers are empowered by a clear plan for getting rich the right way - slowly and safely.
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| Customer Reviews: Read 36 more reviews...
 So easy a caveman could do it! April 3, 2008
0 out of 1 found this review helpful
Add this to the list of schemes that tell you how to get rich in a fantasy world. Pass on this one and save your money,(you'll get rich faster).
For the novice investor and RICH investor alike March 10, 2008
This book breaks down the conceptual justification of WHY not to pay off your home early and use other investment vehicles until you have amassed enough cash to do it as a lump sum payment and the DIFFERENCE if you follow there method on your overall retirement planning. The first 15 chapters are beneficial to anyone but the last ones require money! You know, it takes money to make money! Well, the last part resounds that! What average guy has the assets to get over-fund an $8M universal life insurance policy? The banks definitely don't want you to read this! Most people still think pay off now...You'd better read this book before you work like a slave to do that or cash in your nest egg n light of all the residential housing market SNAFU in Q4 2007! A good book to read after you understand the principle of Investing and Personal Finance (and I suggest the no fluff approach of the Dummy series).
One interesting note that the author never really fully explains is how he manages to take a $5000 downpayment on his first home and allow it to really mushroom into a multi-million dollar retirement account. Yeah, there are examples of rolling homes and over-funding insurance policies but he never tells you the risks or cautions you about the personal sacrafices you have to make or consider to make this happen.
I will definitely apply many of the principles of this book to my situation but it shouldn't be construed as the "Solution" to all your financial shortfalls! Remember, Knowledge is Power!
FACTS the Insurance Agents Hope you NEVER KNOW October 1, 2007
9 out of 10 found this review helpful
After readying this you will see the MOTIVATION for the Agents selling this line of BS, it will take most of you over 20 years to have any type of REAL NET return on your Life Insurance Policy. Want the TRUTH talk to an unbiased ACTUARY not a saleperson making a fortune off of your home equity. I am telling you when people finally realize what is taking place lawsuits will start to fly, IMO.
When did the Life Insurance Agent become a charitable organization?
Anyone who is believing this so called NEW way of thinking is either really bad with math or simply does NOT understand Life Insurance. There is a REASON you don't see REAL professionals using this concept they KNOW the TRUTH!!!
What is the ROI on my home Equity? MORE THAN ANY LIFE POLICY!!!!
After you learn how to subtract out all the commissions and fees, then the REAL cost of the death benefit, loan fees for your house loan fees for the life policy let's sit down and compare which approach works best. Having my house free and clear with NO COMMISSIONS to pay, no loans, and no INCREASING internal costs for the life insurance will BEAT any Life Policy I GUARANTEE IT!
Here is a shocker to reality. If you bought into this BS and mortgaged your house and placed the money into a life policy order a current statement for your policy showing the SURRENDER CASH VALUE in the first year, HOW MUCH did you LOSE? Then look at the 5th year how much have you LOST? Tenth year? Do the REAL MATH find out the REAL FACTS.
LIFE INSURANCE is one of the HIGHEST commissioned products in the financial industry FACT! Where do you think that money comes from, YOUR POCKET.
Here is a little KNOWN FACT there are currently MANY so called experts out there today TRAINING for a large fee many other life insurance agents how to SELL LARGE COMMISSIONED life insurance policies. They don't care if you need a policy or NOT they only care about SELLING a policy. Check the facts. Some are even paying for cruises for Seniors then encouraging them to apply for insurance. IT IS HIGHLY PROFITABLE to someone BUT NOT YOU the policyholder.
You will see many lawsuits in the coming years from these abuses when the you know what finally hits the fan.
By the way did you know that it was illegal for you stock broker to encourage you to take out a mortgage to buy a REAL INVESTMENT? It should also be illegal for Insurance Agents but it's not, well not YET, time will tell.
Where is Elliot Spritzer when you need him?
I wish more people would ask the harder questions before believing this new line of BS.
FACTS The INSURANCE AGENT want to hide from you: Insurance agents make about a 30-50% commission on term life insurance and around 90-95% commission on whole life products. Keep in mind that this is the first year commission on the premium and subsequent year commissions are much lower with an average of 6% per year for whole life products and 4% per year on term life insurance products.
One of the great problems with whole life is only an expert can tell if a policy you own or are considering will ever become a decent investment. James Hunt, actuary for the Consumer Federation of America, who has analyzed thousands of policies, notes that whole life policies hardly ever yield a reasonable return unless held for 20 years or more.
So if you buy one be prepared to pay into it for the very long haul.
The key to a whole life policy is its internal rate of return -- the yield on the policy after all fees and charges are subtracted. A competent analysis can determine at a minimum whether the weight of the fees and charges built into one of these policies will ever allow a worthwhile return. Such an analysis will also pinpoint the minimum amount of cash value that you can derive from a policy at any given time interval.
Some financial planners, actuaries and accountants can perform internal rate of return analysis on your policy. The Consumer Federation has a service that will do this, calculating the real return year by year and comparing it with other investments. The fee is $50 for the first policy, $35 for each additional. Call 603-224-2805 for more information.
Get Your Fortune Back September 17, 2007
1 out of 2 found this review helpful
This is an excellent book with many examples of how changing your money management and especially you equity management strategy will result in greater wealth and safety in investing for you. The only reason I did not give it 5 stars is that the author belabors several points and essentially is just repeating the same material over and over. Other than that, the ideas and strategies are well worth looking at and the authors heart is in the right place.
 Good read but be wary. September 4, 2007
2 out of 2 found this review helpful
Like many of the other reviews, I agree the concept is interesting and makes sense for very specific cases. I would be causious of thinking this is for everyone who owns a home.
The concept in general is simple, which I like. If you can explain it to a 12 year old then I think you have a good grasp of the idea. Doug does a good job of breaking it down so that most of us can easily understand and probably explain it to a 12 year old. Applying it over the long term is something entirely different. In California most people do refinance or sell every 5 so years. This concept at least tells them to focus on saving rather than spending it, something that most Americans do not do well.
I would recommend reading it and understanding it but talking to several advisors and other people who have experience with this before acting.
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