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Millionaire by Thirty: The Quickest Path to Early Financial Independence | 
 enlarge | Creators: Douglas R. Andrew, Emron Andrew, Aaron Andrew
Publisher: Hachette Audio
Category: Book
List Price: $29.98
Buy New: $13.83
You Save: $16.15 (54%)
New (25) from $13.83
Avg. Customer Rating:  14 reviews
Sales Rank: 747490
Format: Audiobook, Unabridged
Media: Audio CD
Edition: Unabridged
Number Of Items: 6
Shipping Weight (lbs): 0.4
Dimensions (in): 5.8 x 5.3 x 0.7
ISBN: 1600241492
Dewey Decimal Number: 332.02401
EAN: 9781600241499
ASIN: 1600241492
Publication Date: April 30, 2008
Availability: Usually ships in 1-2 business days
Shipping: Expedited shipping available
Shipping: International shipping available
Condition: BRAND NEW. Still in its original shrinkwrapped box. Ship in 24 hrs.
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Product Description
Most people know that there are 70 million Baby Boomers in America today....but what is less known is that there are approximately 100 million people in America between the ages of 16 and 30. This generation has just entered, or will soon be entering the work force. And they have no idea how to invest, save, or handle their money.
Young people today come out of school having had little or no formal education on the basics of money management. Many have large debts from student loans looming over their heads. And many feel confused and powerless when their pricey educations don't translate into high paying jobs. They feel that their $30,000-$40,000 salary is too meager to bother with investing, and they constantly fear that there will be "too much month left at the end of their money."
Douglas R. Andrew has shown the parents of this generation a different pathway to financial freedom. Now, he passes those vital lessons to his sons, Emron and Aaron, both of whom are in their mid-20s. Together, Doug, Aaron, and Emron show the under-30 crowd how they can break from traditional 401k investment plans and instead can find a better way by investing in real estate, budgeting effectively, avoiding unnecessary taxes and using life insurance to create tax-free income.
With the principles outlined in Millionaire by Thirty, recent graduates will be earning enough interest on their savings to meet their basic living expenses by the time they're 30. And by the time they're 35, their investments will be earning more money than they are, guaranteeing them a happy, wealthy future.
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| Customer Reviews: Read 9 more reviews...
 A classic account of the quickest route to early financial independence September 6, 2008
0 out of 1 found this review helpful
Douglas R., Emron D. and Aaron R. Andrew both author and narrate a classic account of the quickest route to early financial independence in MILLIONAIRE BY THIRTY: THE QUICKEST PATH TO EARLY FINANCIAL INDEPENDENCE, a survey of the path to financial freedom. Father Doug Andrew didn't want to see his kids on the usual financial treadmill for the next forty years so he passed to them his secrets of success - and all became winner, starting out of college with entry-level jobs paying about, $30 kay a year and following steps outline here to each achieve a net worth of over, $1 million.
 Best ways to get into debt August 14, 2008
1 out of 1 found this review helpful
As the previous reviewers have mentioned, the entire book reiterates the same crap, buy as much real estate as you can, refinance all of your real estate until your brains turn into mush and invest the proceeds into non-realistic 'risk free' savings vehicles that yield 8-10% (please find me a savings account that does this). The content of the book may indeed allow a person to have a million dollars by thirty, but they will end up having two million in debt. The end of the book speaks about putting money 'safely' into life insurance accounts, where you can reap tax free benefits. I could not believe what I was reading. I highly recommend NOT buying this one. Its only a good read on what NOT to do with your investing dollars.
Fails to Deliver on the Title July 21, 2008
6 out of 6 found this review helpful
If you have a great business model no problem being a millionaire by 30. Buying houses with maximum leverage and investing the difference in a max funded life insurance policy may do it by 50. That for most, especially the young is a big maybe.
You only need to read the paper or watch the news to see the result of people who borrowed too much to buy a house or three. Most problably had the income to pay the loan at the time it was originated. Then the unthinkable happened, job loss, illness, divorce, or life. Leverage is a double edge sword, and if you don't have a good cash surplus it can wipe you out.
The second glaring problem is the rationale on why other investments are poor compared to Indexed UL. The author glosses over the fact that many insurance contracts are kept for only a few years. The same way people jump in the stock market when it is hot and pull money out when it is cold. Again, view articles on people taking money from 401k plans to pay bills.
Then the pitch for Indexed UL is worse than having an agent sitting in your kitchen. I have two Variable ULs myself, so I am not completly opposed as part of a balanced portfolio for long term cash. But everything, no way and here's why. The expenses are the highest of almost any investment product on the market. Even in the best scenario Indexed UL will have 1% per year cost for insurance and the same or more for the investment fees. You can buy an Index of stocks and pay less than 1/4 of 1% in fees each year. Pay the lower capital gains tax rate when you sell, and cash out at any time. Sure you can borrow from your UL and pay no taxes, but you still pay interest on the loan. So if the interst rate is 1%, after 15 years you would have paid the full capial gains rate of 15%. You keep paying interest as long as the policy is in force. If it lapses, you are hit with a tax bill on the gains. It is taxed at the higher ordinary income tax rate, not the lower capital gains tax rate.
So to park some long term cash, protect your family, or leave some money to charity UL is great. But balance it with a full portfolio including cash. Better to borrow a reasonable amount on a home and fund several investments on the side if you want to get and stay rich.
Best $ Book Ever! June 13, 2008
2 out of 7 found this review helpful
This book opened my eyes in a way that they've never been open before! This book is so easy to read, but it doesn't make you feel dumb for not being financially literate. As soon as I picked this book up I couldn't put it down. Like a suspense movie - I wanted to find out what the Andrew guys were going to say next. Just about everything you need to know about finances and how to get ahead in this crazy world, can be found in "Millionaire by Thirty." This is a must read for anyone.
Do not put more money into their pocket June 13, 2008
3 out of 5 found this review helpful
The best way to make a million by thirty is to write books and articles and videos telling everyone else how to make a million. This is also the reson for the housing slump-speculators and greed. I saw homes in CA going up 25% every few months. This is ridiculous and could not be sustained. Yes, wait until we hit rock bottom and buy real estate that is true but do not mortgage your future. Show me a bank or person that gives credit to 19 year olds with no long term job or financial resources- just will not happen in 9.9 out of 10 cases.
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