May 27

Review – The Motley Fool Investment Guide for Teens

The Motley Fool Investment Guide for Teens
by David and Tom Gardner

As the author of The Teen’s Guide to Becoming a Millionaire, and a frequent follower of the Motley Fool, I was very interested to see what David Gardner had to say about investing for teens. The promise of the book is very grand:  eight steps to having more money than your parents ever dreamed of. I wanted to see how well the book lived up to its promise.

Overall, I would say that this book does a good job in several areas. In each of these cases, Gardner takes a complex topic and distills it down to the basics in a form that teens can understand. The eight steps themselves are very solid, and a person can reliably follow them and be far better off than someone who doesn’t follow them.

The eight steps begin with helping teens set goals and make plans. They help teens have an understanding of how they can earn money (which becomes the seed of their investments) and to begin saving the amount that is needed to start investing. They then move on to teaching teens the basics of the financial system, including banks, credit unions, brokerage firms, insurance, etc. Then, the eight steps moves on to understanding how the stock market works, and finally to an understanding of mutual funds. Finally, they describe how teens would need to go about setting up a brokerage account and start investing.

Much of this seemed very basic to me, personally. But, as I talked with my own teens about this, it was quickly clear that teens don’t get this information from a high school education. One of the reasons it seemed so basic to me is that I’ve been working with this for the last twenty years. But it is all a necessary foundation for someone who has not been taught this in school.

The second half of the book was dedicated to investing in shares of individual companies. This included finding great companies, tracking them to determine their performance over time, understanding how financials of companies work, and crunching the numbers. It also covers how teens can set up an investment club.

There was only one area where I still found myself wanting additional information. I said a minute ago that the book took a complex subject and simplified it down. In certain areas, it seemed to stay too simple. There were a couple of areas where I could see that a teen would need additional information in order to move forward, but that additional detail wasn’t discussed. While the simplified explanations were good, teens could benefit from being directed to additional resources, in order to expand their understanding.

Other than that, the content of the information was very good. Teens who are interested in investing will benefit from reading The Motley Fool Investment Guide for Teens.

Disclosure: This is a modification of my original review. I realized after talking to my own teens that I was judging the book from my perspective instead of theirs.

May 16

The Book “Secret to Money Mastery” is Free for Two Days Only

The Secret to Money Mastery

The Secret to Money Mastery

Get the FREE Kindle Edition of the Book The Secret to Money Mastery for Two Days Only

For two days only, Friday May 18 – Saturday May 19, the Kindle Edition of the ebook, The Secret to Money Mastery will be available for FREE.  Here’s how you get it.

Step One:

First, share this post. Tweet it using this button or share it using the buttons at the bottom of this post:

Step Two:

Download the Kindle Edition from FREE (reg. $2.99).

The Secret to Money Mastery

Product Description

The Law of Attraction shows us how to use the scientific principles we live with in order to deliberately attract into our lives those things that we most desire. This book focuses more narrowly on those principles and practices that can dramatically accelerate how quickly you attract financial prosperity to you.

Your nonconscious brain is immensely powerful. Its impulses travel at 100,000 mph, compared to about 120 mph for conscious impulses. Likewise, it processes 400,000,000,000 bits of information per second, compared to about 2,000 bits per second in the conscious brain.

You will learn the secret to unlock this phenomenal power that is already within you in order to create an ongoing income, get out of debt, and build an investment plan that will carry you automatically toward your own picture of financial prosperity.

About the Author

Kent T. Stuver graduated in 1995 from Brigham Young University’s nationally recognized School of Accountancy. During the first years that he worked as a tax accountant, he realized that a number of his clients did not understand the basic, common-sense principles of personal money management. So, he wrote and published the small booklet Control Your Cash Flow, which he gave to his tax clients. Over the years, Kent was intrigued more by the few people who did not see a difference in following his principles, than by those who did. In the end, he realized that the difference lies not so much in the conscious actions taken by people, but rather in the programs they are running in their nonconscious brain. This led to several years of research into the latest neuroscience and psychology behind what drives people’s behavior. The Secret to Money Mastery is the result of his solid financial training combined with his research in neuroscience. It teaches how you can reprogram the immensely powerful nonconscious brain to achieve your financial objectives, as well as how to follow the basic, common-sense money management principles he originally taught his tax clients.

Download the Kindle Edition from FREE (reg. $2.99).


May 14

Blog Review: The Truth About Making Money While You Sleep

Jonathan Morrow published an interesting blog a couple of days ago titled, “The Truth About Making Money While You Sleep.” He made a couple of interesting points that are thought provoking.

His first point was that getting to where his businesses are so automated that money comes in while he’s goofing off takes a ton of work.

For the past three years, I’ve worked at least 12 hours a day, seven days a week, for stretches of around six months without taking a single day off.

For the vast majority of that work, I wasn’t paid a dime. Rather, I was building a machine capable of running on its own.

That’s what truly successful entrepreneurs do:

We build money machines.

We take our expertise and transform it into systems that run without us. Sometimes that means hiring employees, but in my opinion, the best system to put in place is something infinitely cheaper, easier to manage, and simpler to create right now.

The best advice millionaires around the world have given me is that it takes a lot of hard work up-front in order to become a millionaire. But, it really isn’t work if you do it right, because if you love what you do as much as they do, then it really isn’t work.

Jonathan’s second point is that the best “money machine” you can build is content.  Here’s his “secret” formula.

  1. Find somebody who is good at selling stuff (maybe that’s you)
  2. Create content that duplicates what they do
  3. Distribute said content to as many people as possible
  4. Repeat the process until you have the desired level of income
  5. Go goof off (hooray!)

If you want to “make money while you sleep,” you’ve got to create the kind of content that does the work for you.

Really, that’s it. It’s the whole shebang.

Jonathan makes the point that this is something that not everyone can do. But–and here’s the exciting thing–it is something that anyone can do. You don’t have to be a certain age or have certain qualifications, degrees, certifications, resume’s or a CV. So, as Jonathan says, “Clone yourself by creating lots of awesome content. Distribute that content far and wide. And then goof off, if you want to. Life is short, my friends, and I don’t know about you, but I intend to savor every last moment of it.”

Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Learn about the book, The Secret to Money Mastery by clicking here.



May 14

Money–The Single Biggest Problem

When people say that they have problems, in many cases  those problems can be boiled down to money problems.  Let’s look at some interesting facts.

  1. Money issues are one of the biggest causes of divorce.
  2. Personal bankruptcies are at their highest level in 10 years.
  3. An increasing number of cases of spouse and child abuse are fueled by stress from job or money problems.
  4. An increasing percentage of people who reach age 65 don’t have enough money to retire.

Think about it. . . nearly any problem you can think of will be worse if you don’t have the money to deal with it.

  • A flat tire is definitely annoying.  But if you don’t have the money to buy a new tire, it can become a crisis.
  • Health problems are always difficult to deal with.  But if you can’t afford a readily available treatment, you may die earlier than necessary.
  • Tax time is never fun.  But if you don’t have the money to pay the taxes that are due, things can get really nasty, really fast.

So, getting to a point where you have excess cash to deal with uncertainties will do a lot for many people to relieve their stress levels.  More importantly, removing money as a decision factor when dealing with problems gives you many more options.  You become free to concentrate on the best way to solve the actual problem, rather than being forced to fixate on how you will be able to afford the cheapest option.

We first need to have enough money to provide our basic survival needs.  Then we need to have enough money so we feel secure.  Only when we have accomplished that can we focus on abundance. This is where the concept of the Emergency Fund is so critical, to help us deal with Murphy when he strikes.

Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Learn about the book, The Secret to Money Mastery by clicking here.


May 13

Consolidating Both Blogs on this Site

For some time, I’ve been trying to unsuccessfully maintain two blogs:  one for my book The Secret to Money Mastery, and this one for my new book, The Teen’s Guide to Becoming a Millionaire. This has proven to be too much for one simple person to maintain. So, I am consolidating both blogs on this one site as a general author blog site.

My other domain, will now redirect to this site. I will be reposting some of my favorite posts from from time-to-time.

Many of the things that I post will be relevant to both teens and adults. For posts that are specifically targeted to teens, I will use the tag “teens” to set them apart.


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Learn about the book, The Secret to Money Mastery by clicking here.


May 06

The Book ‘The Teen’s Guide to Becoming a Millionaire’ is Free for One Day Only

Book Cover - "The Teen's Guide to Becoming a Millionaire"

Get the FREE Kindle Edition of the Book The Teens’ Guide to Becoming a Millionaire for One Day Only

For one day only, Wednesday, May 9, 2012, the Kindle Edition of the new book, The Teen’s Guide to Becoming a Millionaire, will be available for FREE. Here’s how you get it.

Step One:

You’re almost there. First, share this post. Tweet it using this button or share it using the buttons at the bottom of this post.

Step Two:

Download the Kindle Edition from FREE (reg. $5.99)

You Can Be a Millionaire!

You’re likely an above-average teen. And, you want to be a millionaire.

You’re too smart to fall for get-rich-quick schemes.  You understand that becoming a millionaire will take some time and effort.  All you need is to be shown how.

The reality is that you can have a normal intelligence or be the world’s greatest genius. You can have a minimum wage job all your life or become a highly paid professional.  You can be a totally and completely normal teen.

But, the earlier you start, the easier it is to become a millionaire.

Ages 12 to 19 can be some of the most powerful years to build the foundation of a net worth of one million dollars.  And there is a simple, methodical path that anyone can follow.  The Teen’s Guide to Becoming a Millionaire shows you how you can start now.  Here are just some of the things you will learn.

  • Why the teen years can be some of the most powerful years toward becoming a millionaire.
  • What the Accumulation Factor is, and how you can use it to draw money-earning opportunities to you.
  • How to define your Millionaire Outcome, why that is so important, and how to begin living it today.
  • How to turn a part of your brain into a powerful supercomputer that works 24/7 to turn you into a millionaire.
  • How you can supercharge a part-time job into a millionaire income.
  • How a simple Spending Plan will let you spend your money on the things that are important to you, while you still achieve your millionaire outcome.
  • How letting your money work for you is the simple, systematic engine that drives your millionaire plan.
  • How some simple Millionaire Accelerators can make the process go faster.
  • How you can be truly happy, no matter where you are on your path towards becoming a millionaire.

Start today to begin making your Millionaire Outcome a reality.

Download the Kindle Edition from FREE (reg. $5.99)

Nov 09

Natural Laws of Money and Time that all Teens Need to Understand

There are several natural laws that govern the relationship between time and money.  If you are a teen who wants to become a millionaire, it is vital that you understand these laws. Let’s look at the laws first, then we’ll talk about them.

Law #1 – We all have a limited, finite number of moments of time in our lives.

Law #2 – None of us knows in advance how many moments of time we will have in our lives.

Law #3 – When we choose to spend a given moment of time doing something, we have by default chosen not to do anything else in that moment of time.

Law #4 – Many of us spend more moments of time in a given week working for money than in any other single activity.

Law #5 – When your income is not dependent on your labor, you have greater control over your moments in time.

These laws illustrate how valuable each individual moment of time is.  I remember when I first came to this understanding.  I was working as an employee, and in order to meet an important deadline we were working mandatory 60-hour weeks.  I had to pass up some fairly important family events, as a result.

I remember feeling very strongly that I was not in control of my time.  I became very vividly aware that, once a moment of time has passed, it is gone forever.

In the United States, we regard Benjamin Franklin as one of our founding fathers.  Ben was a well-respected writer, inventor, and statesman in the America’s during the 1700′s.  He invented the modern weather bureau, daylight savings time, the Franklin stove, bifocal glasses, electric explosives, and public libraries, to name a small sample.  Ben was not only influential in the United States, but was also highly regarded throughout Europe.

Ben worked to very intelligently convert his time into money while he was young.  He did this so well that he was able to step away from his day-to-day business affairs by age 42.  At that point, he was able to convert his money into time.

Interestingly, most of what we remember Ben for are things he accomplished *after* age 42.

Ben learned that one of the most effective time management strategies is good money management.  He learned that, by wisely managing his money, he gained many additional options for how he could spend his time.

Although most of us will not accomplish the same types of things that Ben did, the money mastery principles are just as powerful today as they were 250 years ago.  As you master your own money, you will find that you have more options in your life than you ever thought possible.


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Oct 20

Why do you Want to be a Millionaire?

Why do you want to become a millionaire?

I’m going to take a leap here and suggest that it isn’t a pile of cash sitting in a vault somewhere that excites you.  Most likely, what gives meaning to the word “millionaire” in your mind is the thought of what being a millionaire will allow you to be or to do or to have.  You may have a particular lifestyle that being a millionaire may represent in your mind. You may have some things you want to acquire, which you picture that being a millionaire will help you to obtain. Or, you may have something you want to give back to society at the scale that only millionaires can give.

For a teen who wants to be a millionaire, knowing what it is that you really want is important and helpful for a couple of reasons.

First, your brain really can’t wrap itself around the meaning of a million of anything.  In order for the non-conscious part of your brain to step up and really help you get there, it has to have a very clear picture of what you want. To begin with, your millionaire outcome may be somewhat vague. But, by becoming very clear about what you want to be or do or have, you give your brain something meaningful that it can understand.

This clarity is what I call your own, personal millionaire outcome. And, your millionaire outcome will be different from everyone else’s.  No one else’s millionaire outcome will help your brain focus its energies like your own millionaire outcome will.

Second, the truly amazing thing is that you may not need to wait until you are a millionaire to begin achieving your millionaire outcome. As you define more and more detail around your millionaire outcome, an interesting thing will happen. You will see that some aspects of your millionaire outcome are truly long-term. But other aspects may be reachable over the next year or two. And, some of them you can start working on today!

This is huge. If all you were to ever think about was just the stacks of cash, that likely wouldn’t be enough to motivate you to start taking action. But, when you see that this one particular part of your millionaire outcome is something you can actually achieve within weeks, days, or hours, that can help you get up and start moving. And then you develop a momentum that will carry you to the achievement of your complete millionaire outcome almost automatically. And, it can happen faster than you may think.

So, this week, set aside some time to sit with a pad of paper and a pencil. Ask yourself these questions:

  • Why do I want to be a millionaire?
  • What does being a millionaire really mean to me?
  • What part of this can I start working on now that I can accomplish soon?

Once you define what those “get it now” elements are, take action right away–this minute if possible. Tony Robbins says that we should never leave the site of setting a goal without taking some action to accomplish that goal.

Then, every day review in your mind your millionaire outcome. Play it out like you are watching a movie in your brain. Picture it as vividly as possible, as if you were living it in the moment.

And, prepare to be amazed when you see what begins to happen in your life.


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Sep 25

Activating your Millionaire Mind

Did you know that nearly everything you can do, many animals can do better? Eagles can see many times farther–as much as a mile away. Cheetahs can run many times faster–as fast as a car on a the freeway. Elephants are many times stronger, and can lift heavy loads that we require heavy machinery for.

The one thing that sets you apart from the rest of the animal kingdom is your mind.

Only in the last 15 years or so have we really begun to understand how truly powerful your mind is. Interestingly, the true powerhouse of your mind is not the conscious part that you use to learn, think, socialize, and plan. It is the non-conscious part of your mind that is particularly amazing.

Impulses in the non-conscious brain travel at speeds of 100,000 miles per hour. This is about 800 times faster than conscious thought impulses, which travel at about 120 to 140 mph.

The non-conscious brain processes about 400,000,000,000 bits of information per second. Your conscious brain processes only about 2,000 bits of information per second.

Your non-conscious brain stores and remembers one hundred percent of everything it ever perceives or experiences, forever. Your conscious brain can typically remember random facts for only about twenty seconds, unless there is some special reason to remember them longer.

It is your non-conscious mind that can make you a millionaire–much more so than your conscious mind can. But, you have to know how to program it. There are many ways to program your non-conscious mind. Here is one simple thing you can do, which has created more millionaires than perhaps any other single thing.

To become a millionaire, all it takes is one winning idea. We often think of ideas as thoughts that come randomly into our mind. But, it is actually possible to very deliberately program our non-conscious mind to generate ideas.

All you have to do is this:  sit down with a pad of paper and a pencil. Across the top, write down your major objective in the form of a question. Then, write down 20 ideas that you haven’t thought of before.  Keep at it until you have the full 20 ideas, no matter how crazy or improbable they may be. Then, repeat this process every day.

Your major objective is the main thing that you want to achieve at that point in time. If you know you want to become a millionaire, but don’t know how, then write your question as, “How can I become a millionaire?” After some time, you may have decided on your one winning idea, but may not know how to achieve it. At that time, you may change your question to something like, “How can I accomplish X,” where X is your winning idea. And, you can change your question to any obstacle you may be facing.

There are a couple of things to expect.

First, most of your 20 ideas won’t be any good.  That’s OK. Every day, at least one or two of your ideas will have the seed of a potential winning idea.

Second, you will actually find that the most powerful ideas come to you at odd moments throughout the day. They may even wake you up at night. Keep a notepad and pencil with you, and write them down as soon as they come to you.

Here’s what is happening. There is a part of your brain called the reticular activating system, or RAS. Every second, the non-conscious part of your brain is exposed to millions of impressions that you aren’t consciously aware of. The job of the RAS is to filter through those millions of impressions and to only present to your conscious mind those things that it understands that you have an interest in.

By doing the 20 ideas exercise every day, you program the RAS to look for ideas to achieve your major objective. Once the programming is in place, your non-conscious brain will throw its entire, massive computational power into searching for exactly what you need. It will do this 24/7, while you are awake or while you are asleep, while you are socializing with friends or while you are in class. And, it will present those ideas to you when you least expect them.

Remember, all it takes is one winning idea to make you a millionaire. So, do the 20 ideas exercise each day, and you will be amazed at how quickly you move along the path to your own millionaire outcome.


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

Sep 16

The One Law Every Teen MUST Break in order to Become a Millionaire

If you want to become a millionaire, there’s one law that you absolutely must break.

Now, I’m not talking about the laws of the land. Breaking those can be totally counterproductive in your quest to become a millionaire.

The one law that you absolutely must break is Parkinson’s Law.

Parkinson’s Law states that the amount of a resource required will always grow to meet or exceed the amount of the resource available, unless you protest to the contrary. As far as becoming a millionaire is concerned, this means that the amount of your expenses will always grow to be as much as 5 to 10 percent higher than your income, unless you explicitly do something to prevent this.

Look at the chart below.  For most people, as their income rises, their spending rises even faster.  The only way to spend more than you earn is to go into debt.  And, the debt tends to increase faster than the income does.

The Debt Path

There is one simple thing you can do to break out of this.  From now on, resolve to divert one half of every income increase to your Millionaire Fortress Fund.

Suppose that this year you get a 3 percent raise in your hourly wage.  Set aside half of that increase every paycheck from then on.  The next year, suppose you get a 4 percent raise.  Save half of the 4 percent in addition to the half of the 3 percent you are already setting aside.  Keep doing that every time you get an increase in income.

By doing this, you end up with a picture like this.  Your wealth grows and outpaces your income.

The Wealth Path

Some people find it pretty hard to set aside a portion of the income they currently have, which already doesn’t seem like it’s enough.  But it’s often a lot easier to commit to saving money that you don’t have yet.  And, by only saving half of the increase, you can continue to let your lifestyle grow with your income.  But, you make sure your wealth grows as well.

To paraphrase something that Tony Robbins says, being a millionaire isn’t about making some huge change.  It is actually a matter of making tiny, one percent changes every day.  The reality is, after a year, you won’t just have 365 percent improvement.  This will really add up to thousands of percent improvement.  That’s because each day’s improvement stacks on top of the prior days’ improvements and the whole effect just compounds.

So, do it–break Parkinson’s Law! Make your wealth outpace your income. Good fortune on your journey toward becoming a millionaire.


Learn about the book, The Teens’ Guide to Becoming a Millionaire by clicking here.

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