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Ordinary People, Extraordinary Wealth: The 8 Secrets of How 5,000 Ordinary Americans Became Successful Investors--and How You Can Too

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How did a secretary, a firefighter, a retired naval officer, a housewife, a construction worker, a schoolteacher, and a pharmacist become wealthy? Bestselling author Ric Edelman has studied the wealth-making habits of these 5,000 other ordinary Americans and reveals his findings in this extraordinary book that outlines in eight easy, practical steps to secrets to achieving How did a secretary, a firefighter, a retired naval officer, a housewife, a construction worker, a schoolteacher, and a pharmacist become wealthy? Bestselling author Ric Edelman has studied the wealth-making habits of these 5,000 other ordinary Americans and reveals his findings in this extraordinary book that outlines in eight easy, practical steps to secrets to achieving and maintaining wealth. Here you′ll find a lifetime of wealth-building experience from people just like you -- people who have figured out how to arrange their finances and make wise investment decisions so that they can reach their goals and achieve financial security. Plus, you′ll find tips on How to turn your mortgage into a wealth-enhancing tool Why small investments work better than big ones How to max out on your employer-sponsored retirement plan When to hold investments and when to fold them When to pay attention to financial news and when to turn it off Let your neighbours lend you a hand. And let Ric Edelman guide you through their lessons in this eye-opening journey with thousands of ordinary folks who found their way to extraordinary wealth.


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How did a secretary, a firefighter, a retired naval officer, a housewife, a construction worker, a schoolteacher, and a pharmacist become wealthy? Bestselling author Ric Edelman has studied the wealth-making habits of these 5,000 other ordinary Americans and reveals his findings in this extraordinary book that outlines in eight easy, practical steps to secrets to achieving How did a secretary, a firefighter, a retired naval officer, a housewife, a construction worker, a schoolteacher, and a pharmacist become wealthy? Bestselling author Ric Edelman has studied the wealth-making habits of these 5,000 other ordinary Americans and reveals his findings in this extraordinary book that outlines in eight easy, practical steps to secrets to achieving and maintaining wealth. Here you′ll find a lifetime of wealth-building experience from people just like you -- people who have figured out how to arrange their finances and make wise investment decisions so that they can reach their goals and achieve financial security. Plus, you′ll find tips on How to turn your mortgage into a wealth-enhancing tool Why small investments work better than big ones How to max out on your employer-sponsored retirement plan When to hold investments and when to fold them When to pay attention to financial news and when to turn it off Let your neighbours lend you a hand. And let Ric Edelman guide you through their lessons in this eye-opening journey with thousands of ordinary folks who found their way to extraordinary wealth.

30 review for Ordinary People, Extraordinary Wealth: The 8 Secrets of How 5,000 Ordinary Americans Became Successful Investors--and How You Can Too

  1. 4 out of 5

    Matt Robinson

    I’ve long appreciated Ric’s wise and simple advice on money. He takes complicated money subjects and makes them easily digestible.

  2. 4 out of 5

    Gerald Thomson

    Though Edelman has some good advice about building wealth, this pre-recession book (published in 2001), is way to optimistic about financial trends. The biggest issues I had with the book are that Edelman encourages people to get as large a mortgage as they can and then invest the money they do not put into the house. When giving his examples he uses a 12% annual investment return (you read that right – 12%). The payment of debt is guaranteed, while investment returns have inherent risk and are Though Edelman has some good advice about building wealth, this pre-recession book (published in 2001), is way to optimistic about financial trends. The biggest issues I had with the book are that Edelman encourages people to get as large a mortgage as they can and then invest the money they do not put into the house. When giving his examples he uses a 12% annual investment return (you read that right – 12%). The payment of debt is guaranteed, while investment returns have inherent risk and are seldom guaranteed outside of low interest debt instruments (which still have default risk). He also does little to help people prepare for job loss. These two issues have come to the forefront since the recession and housing bubble, but they have been risks forever. For Edelman to treat these topics so optimistically is just bad advice.

  3. 5 out of 5

    Debbie

    This review has been hidden because it contains spoilers. To view it, click here. Strongly disagree with a lot of the information in this book. I knew in the first chapter that we had a complete difference of views. Chapter one he is going on and on about how one should have a mortgage for the tax savings which is a ridiculous idea. Why should one pay thousands of dollars a year to get a few thousand dollars in tax savings? Another chapter he stresses to always invest 100% in stocks no matter what your age. Well investing in stocks is excellent but as people get closer to ret Strongly disagree with a lot of the information in this book. I knew in the first chapter that we had a complete difference of views. Chapter one he is going on and on about how one should have a mortgage for the tax savings which is a ridiculous idea. Why should one pay thousands of dollars a year to get a few thousand dollars in tax savings? Another chapter he stresses to always invest 100% in stocks no matter what your age. Well investing in stocks is excellent but as people get closer to retirement and in retirement they need to still keep some in stocks but other parts of their money in more secured locations for safety. Once in retirement one does not have the luxury of time to recoup the losses when there is a big market drop. Very disappointing book all in all. Read Dave Ramsey and David Bach to get much sounder finanical advice.

  4. 4 out of 5

    Stephen

    First of all, this book was written in 2001 and the original edition was written in 2000, well before the financial crisis. The first chapter basically was a blueprint to what caused the real estate bubble. Taking out a mortgage for more than you need (and more than the property is worth)while keeping your money in savings (or not having a financial cushion at all) should never have been advocated. The second chapter talks about investing and how the 'wealthy' do NOT diversify their stock or reti First of all, this book was written in 2001 and the original edition was written in 2000, well before the financial crisis. The first chapter basically was a blueprint to what caused the real estate bubble. Taking out a mortgage for more than you need (and more than the property is worth)while keeping your money in savings (or not having a financial cushion at all) should never have been advocated. The second chapter talks about investing and how the 'wealthy' do NOT diversify their stock or retirement asset classes. Again, this might have worked in the 90's, but if people had all their investments in internet companies, construction, real estate or the financial sector, they would have lost large chunks of their investments in 2008-2010. In my less than expert opinion, this book is a recipe for disaster.

  5. 4 out of 5

    Greg Chabala

    While the eight recommendations were fair, none were revolutionary to someone who had already read several personal finance books. The author's tone was annoyingly casual, with repeated agitations to read his prior books. The majority of the book's pages were filled with anecdotes from the author's personal finance clients, 'in their own words', which were repetitive, frequently off-topic, and unnecessary. While the eight recommendations were fair, none were revolutionary to someone who had already read several personal finance books. The author's tone was annoyingly casual, with repeated agitations to read his prior books. The majority of the book's pages were filled with anecdotes from the author's personal finance clients, 'in their own words', which were repetitive, frequently off-topic, and unnecessary.

  6. 4 out of 5

    Nate

    This review has been hidden because it contains spoilers. To view it, click here. This book wasn't really worth my time. Being book number 6 in my stack of investment guides for the summer, I learned nothing revolutionary, and tended to disagree with him on a few points even (encouraging a 30-35 year mortgage does not sound like the best advice, IMO). This book has a rather American slant and is probably too optimistic with interest returns. Partially because I didn't appreciate his writing style (trying to be "ordinary" but trying too hard), I skimmed through most of the boo This book wasn't really worth my time. Being book number 6 in my stack of investment guides for the summer, I learned nothing revolutionary, and tended to disagree with him on a few points even (encouraging a 30-35 year mortgage does not sound like the best advice, IMO). This book has a rather American slant and is probably too optimistic with interest returns. Partially because I didn't appreciate his writing style (trying to be "ordinary" but trying too hard), I skimmed through most of the book and ultimately realized that - with the anecdotes from the dozens of laypeople in the book - it could have been summed up with a few paragraphs of advice on starting your investments yesterday (he's big on mutual funds) save often, and don't try to time the market. There you go! No go find a better book to read.

  7. 4 out of 5

    Mark Zodda

    A few good nuggets of personal finance advice interspersed with page after page of "In Their Own Words" filler and supposedly self-deprecating comments by the author. I had never heard of Ric Edelman before opening this book, but if you're a fan of his then you should probably add another star or two to my rating. A few good nuggets of personal finance advice interspersed with page after page of "In Their Own Words" filler and supposedly self-deprecating comments by the author. I had never heard of Ric Edelman before opening this book, but if you're a fan of his then you should probably add another star or two to my rating.

  8. 4 out of 5

    Brian Weisz

    The chapters on mortgages and buying investments for under $1000 made the book worth the price. The book was written a while ago, so you have to mentally update some of the numbers, but the effort was worth it.

  9. 4 out of 5

    Courtney Skelton

    The book contained good advice from people who are very money smart and more than that have gone through some tough times as well as learned many lessons by trial and error. Some of the ideas seemed out dated- yet some still stand the test of time.

  10. 5 out of 5

    Chris Ginther

    D

  11. 4 out of 5

    Glenn Banks

    This book was written after the classic millionaire next door book came out and was such a success.

  12. 4 out of 5

    Barry R White

    The book is a little outdated. Really did not offer anything radical.

  13. 4 out of 5

    Jamie

    A lot of this info seems to be a little outdated. However, I got some true gems from this book. The best thing I got out of it was to not pay off your mortgage early. And concrete reasons why! I've always felt the itch to have no debt, but this truly helped me come to terms with "good debt." A lot of this info seems to be a little outdated. However, I got some true gems from this book. The best thing I got out of it was to not pay off your mortgage early. And concrete reasons why! I've always felt the itch to have no debt, but this truly helped me come to terms with "good debt."

  14. 5 out of 5

    Bill Donhiser

    The material is a bit dated and some of it I disagree with. It is well written and it always helps to remind me what I need to do when I read a financial book. Otherwise there are many other more timely money books out there that would be a better use of your time.

  15. 5 out of 5

    Nick

    This book gave some interesting tips on what average people who become wealthy do differently from most people. However, the "In their own words" section of the chapters was a bit redundant and could have been shorter. This book gave some interesting tips on what average people who become wealthy do differently from most people. However, the "In their own words" section of the chapters was a bit redundant and could have been shorter.

  16. 4 out of 5

    Betty

    I LOVE Ric Edelman...he seems to be the most firmly grounded writer. I have learned so much from him and I like the way he writes. Terrific guy, terrific book! Tons of practical advice on many subjects related to wealth accumulation.

  17. 4 out of 5

    Lori

    Great, great book. The most successful and wealthy people are not necessarily the ones that make the most money. Great tips for anyone who wants to become financially independent.

  18. 4 out of 5

    Kristi

    I love personal financial books. I'm always inspired and always find tidbits of information to help in this area. It's a passion of mine and my husband's! We're a bit obsessed! I love personal financial books. I'm always inspired and always find tidbits of information to help in this area. It's a passion of mine and my husband's! We're a bit obsessed!

  19. 5 out of 5

    Carol

    A lot of good advice, but since I am Canadian some info was not good.

  20. 4 out of 5

    Santosh

    I like the author's style of writing. He has a very good sense of humor and coveys basic investment techniques very effectively. The book is easy to read. I like the author's style of writing. He has a very good sense of humor and coveys basic investment techniques very effectively. The book is easy to read.

  21. 4 out of 5

    Mel

    I registered a book at BookCrossing.com! http://www.BookCrossing.com/journal/11819064 I registered a book at BookCrossing.com! http://www.BookCrossing.com/journal/11819064

  22. 4 out of 5

    Vanessa Dixxon

  23. 5 out of 5

    Bags

  24. 4 out of 5

    Vamshidhar Reddy

  25. 5 out of 5

    Nazeef

  26. 5 out of 5

    Lynnze Carpenter

  27. 4 out of 5

    Marla

  28. 4 out of 5

    Curtis

  29. 4 out of 5

    Fritz Phantom

  30. 5 out of 5

    Jen

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