The Armchair Millionaire - by Lewis Schiff & Douglas Gerlach (Paperback)

Book Synopsis

Invest my money? Forget it. Who knows which way the stock market is headed? And I just plain don't know how to do it. I'll stick my paycheck in the bank, keep my credit card debt as low as I can, and worry about my financial future when I have some extra money. Besides, there's always Social Security, right?
WRONG, according to the authors of The Armchair Millionaire (and the geniuses behind the Armchair Millionaire Web site), whose philosophy is simple: if your money isn't working for you, then you'll be working a lot longer than you want to. In plain English, Lewis Schiff and Douglas Gerlach, along with real-life cyber-Armchair Millionaires, show you how to save without budgeting the fun out of life, and invest wisely without losing sleep over your portfolio. "Five Steps to Financial Freedom" will make it easy for you to build an investment portfolio and help you to:

• PAY LOWER TAXES: Why and how to give to your IRA or 401(k) until it hurts.
  
• PAY YOURSELF FIRST: The secret to building a nest egg is to treat your savings like you treat any bill -- put your financial future at the top of the list of regular monthly payments.
  
• GET THE MOST FOR YOUR MONEY: "Dollar-cost averaging" has been the most successful investment timing method ever used by the pros. Find out how to make it work for you.
  
• BUILD YOUR PLAN: Forecast when you'll reach your million-dollar goal with a personalized financial action plan.
  
• DISCOVER THE TRUTH BEHIND WHY YOU MUST START INVESTING FOR YOUR FUTURE TODAY: Find out why compounded interest is often called the key to successful wealth-building.

Packed with practical advice, personalized tools such as user-friendly worksheets, and actual stories of ordinary people who have built extraordinary portfolios using these methods, The Armchair Millionaire will show you how to get on the road to financial independence at last.

Review Quotes

"Armchair Millionaire" member "habitatmom" Losing weight is simple: eat less, exercise more. But as many of us know, it's not easy. Only when motivation overcomes resistance do we make progress. Likewise, spend less, save more is simple, but not easy. Savor the struggle that will make you stronger....Hang in there and make your financial plan work.

Armchair Millionaire member "jujubee71" I can identify with anyone who has a feeling of desperation about their finances. I was in the same boat until a friend advised that I take control of my money and gave me hints on how to begin....The first revelation was that I didn't need to be as broke as I was.

Carmine Gallo Co-Host, TechTV's The Money Machine Living next door to a millionaire is one thing, but having one in your own home is another. Here's the book that shows you how to build your own fortune. Best of all, it's simple!

Robert Safian Editor, "Money Magazine" A fantastic 'how-to' guide!

Steven D. Kaye Executive Editor, "Mutual Funds Magazine" New investors can get a good jump start towards financial security using the "Armchair Millionaire"'s mutual fund strategy.

About the Author

Lewis Schiff created Armchair-Millionaire.com by drawing on the years of personal-finance advice he had been giving to his friends and family. He is also a co-founder of Investorama.com, one of the leading Web sites for financial learning. In 1995, when the Internet was in its infancy, Schiff worked for Worth magazine, and launched Worth Online.