Eight Steps to Seven Figures

The Investment Strategies of Everyday Millionaires and How You Can Become Wealthy Too

By: Charles B. Carlson, C.F.A.

Narrated by: Charles B. Carlson

Length: 5 hrs and 8 mins

Publisher's summary

In the tradition of the mega best seller The Millionaire Next Door, Eight Steps to Seven Figures brings together in-depth interviews with over 200 everyday people whose investments have made them millionaires. But while The Millionaire Next Door describes its subjects' lifestyles and spending habits, Eight Steps to Seven Figures focuses squarely on the investing strategies and principles that ordinary people have used to achieve the magic million-dollar mark.

Best-selling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they choose as part of their investment mix. In the course of the book, listeners learn how to determine how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free.

Among the lessons he outlines and elaborates on:

• Buy and hold and buy and hold and buy and hold - Harness the power of time in growing your portfolio and compounding your investment returns.
• Know where you are going - Determine your investment time frame, financial goals, and risk "comfort" level to put together a successful wealth-building strategy.
• Play to your strengths - Everyone has different personality strengths, investment advantages, and specialized knowledge that they bring to the table; recognize and exploit them in achieving your financial goals.

One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life, and can't fully harness the power of time, can find here the guidance they need to become wealthy.

Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, Eight Steps to Seven Figures is an absolute must for today's investors.

Best-selling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they chose as part of their investment mix. In the course of the book, listeners learn how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free.

©2000 Charles B. Carlson, CFA (P)2000 Random House, Inc. Bantam Doubleday Dell Audio Publishing, a Division of Random House

Worth Reading Again and Again

I've re-read this book several times. Listening to the audio book makes that discipline easier.For me, this is a foundational text and is the core of my investment strategy.

jb

I've read quite a few of these financial/stock advisory books. This is one of the best. It goes over what many next door neighbor millionaires have done to achieve seven figure portfolios, and hits the mark for excellent advise and good common sense. Highly recommended.

Fantastic!

This is an excellent book, I highly recommend it. Balance out Carlson's advice with "How to pick stocks like Warren Buffett" by Timothy Vick.

nothing helpful

The book gave comon sense stratagies. But they were not very original or helpful