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Achievable Wealth based on 0 ratings. 1 reviews.
Even as the global recession occupies the attention of most people, there are those among us who are thinking beyond the troubled economy and on to gaining wealth. In his book, Achievable Wealth: Retire Young Using Income Replacement, author Jeff Smith explains how wealth can be gained through multiple sources of income including the well-known avenues of stocks and real estate. The book also discusses producing intellectual property as well as low maintenance business opportunities. "Wealth is the accumulation of assets which provide you enough return to pay for your lifestyle, without having to trade your time for money (1)." In essence, this book is about making money work for you. Smith uses the story of two fictional families to illustrate the difference between living a happy life with ample free time and one enslaved by a job that demands 60 to 70 hours a week. When delving into the stock market, the author suggests choosing stocks in what he calls the "old-fashioned way" by researching a company you have an interest in and making an informed decision. When choosing real estate as an investment, Smith encourages potential landlords to pick multi-family housing in neighborhoods with an abundance of single family homes. The author goes on to share his wisdom on the ownership of self-sustaining businesses like coin laundromats, vending machines, and self-wash car washes. Smith is a photographer, landlord, and has penned several books. His writing is simple and direct, often tongue-in-check and tough. The author takes a personal approach by sharing his own success in each area of wealth attainment described in the book. The information offered is made timelier by the inclusion of a bonus chapter on gaining wealth during the recession. Achievable Wealth is a straight forward approach to growing money in good and bad times. It encourages an entrepreneurial approach to wealth building and a belief that life should be lived and enjoyed, not sold to the highest bidding employer.