Book Review: Millionaire Makers Guide to Wealth Cycle Investing

Ever year many books about making money are published.  I have read a few of them, and skimmed a few more.  When I sat down to read this book a thought this was just another one.  It starts out with a fairly standard ‘self help’ tone, assuring the reader that it’s easy to make millions if they just follow the simple steps that will be revealed. 

The second chapter of the book summarized the wealth cycle strategy.  At this point, I was getting flashbacks to ‘Rich Dad Poor Dad’.  I was rolling my eyes, but I persevered.  I’m glad I did.

For me, the book really starts in the third chapter.  At this point the author gets down to practical advice on how to get started. As the steps in the wealth cycle strategy are explained, the book shifts from cheerleading to a practical business primer. After a few more chapters, I was drawing parallels between the advice being given, and strategies used Donald Trump and Warren Buffet.  Like those two icons of business and deal making, the author has also “walked the walk”, not just written about it.

 The reader is advised to start with research on the investment vehicle of their choice.  After the initial research, the next step is to reach out to experts that can help you toward your goal.  Building a network of contacts is essential.  Once the information has been evaluated, the final step is action.

 The steps are simply stated and straight forward. There is not a lot of detail, and each chapter could have easily been its own book.  The chapters on financial analysis and risk management are a good introduction to these topics, and will be especially helpful to readers that do not have a background in business.   

The author of this book, Loral Langemeier is a Gather Correspondent, and has posted a number of articles introducing her wealth building strategy.  Some of her articles have had comments criticizing the articles as nothing new.  On one hand, I agree with that, and could also apply it to this book.  On the other hand, the information is presented clearly, it is financially sound, and provides practical information on how to take control of your financial future. 

In the genre of personal finance, this book is one of the better offerings I have come across.  It gives a good introduction to the basic business skills needed to make money from investments.  I agree with the author’s assertion that wealth building is a skill that can be learned, the decisions are in the reader’s hands, and to accumulate wealth takes planning plus action. 

I would like to thank Gather.com for providing this book for me to read and review.