Wednesday, December 16, 2009

The 3 Secret Pillars of Wealth - James Burns, Esq.

Summary: WHY ARE STOCKBROKERS AFRAID OF THIS EX-COMMANDO"S ADVICE?

Attorney and ex-Marine recon solider James Burns plans for retirement the way he planned for military campaigns.

While most financial planners overcommit to the stock market, Burns uses his financial and military training and experience to advise his clients against deploying all of their assets to a single objective. Instead, he advocates using three financial pillars that can assure a profitable and secure retirement:
  • Pillar One: Leverage. This means borrowing money against an investment or asset that you own now or will purchase (such as a home, artwork, etc.)
  • Pillar Two: Arbitrage. This refers to finding investments, such as real estate or stock, that will offer greater returns than the money you borrowed through leveraging.
  • Pillar Three: Cash flow: This is the steady income generated from the investment you secured through the leverage and arbitrage pillars - such as rent from tenants in an apartment complex you brought.
Combining detailed and comprehensive information, The 3 Secret Pillars of Wealth is your battle plan for a winning retirement.
Summary from the back of the book, cover photo from amazon.com

My Review: I received a copy of this book free for review and was pleasantly surprised to find that it was not at all what I had expected. This is not one of those get rich quick schemes. In fact, contrary to the title, this book really isn't about making you rich. It's about making the money that you already earn work hard for you in return.

Jame Burns offers a variety of valid reasons why traditional thinking on investments and retirement planning no longer work. He provides enlightenment on new approaches that will have your money earning more. His book will make you consider taxation in ways you probably haven't before. Throughout this book you will be offered tips on beating taxes and fees. Best of all, you don't need to be a financial whiz or a millionaire to make this plan work for you.

This isn't the most exciting book but it is rather thought-provoking. I enjoyed the way that it was set up, with review points at the end of each chapter. I also liked that while it was filled with financial lingo, the information was presented in an easy to understand manner. This was a surprisingly straightforward, not overly detailed, read. The book hits on the key points and then offers additional resources in the form of other books by various authors and websites that you may turn to for more information. I'm glad I read this book. It has provided me with some valuable money management insight and given me a great starting point to investing.

My Rating: 3.5 Stars

If I had to sum it up in one phrase: An innovative, yet straightforward approach to investing and retirement planning.

1 comment:

sarah said...

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