"Seven Years to Seven Figures: The Fast-Track Plan to Becoming a Millionaire" Book Review
In his latest book, "Seven Years to Seven Figures: The Fast-Track Plan to Becoming a Millionaire," Michael Masterson purports that it is possible for just about anyone to achieve a seven figure net worth in seven years (or less). Why seven years? Masterson looked at how long it took him to achieve million-dollar fortunes in his many business ventures, and also studied many millionaires that he personally knows, and found that in just about every case, the seven figure net worth was achieved in seven years or less.
You may be skeptical about the idea of achieving that much wealth in such a short amount of time, but after reading the practical advice and eight case studies, you will see that it is indeed possible and attainable.
For people who feel that they are "stuck" in a low-paying job, Masterson explores ways to increase your salary and your value to the people you work for. I can attest from personal experience that this is possible, as I achieved a six-figure salary within a few years out of college by providing value to the company I worked for, and applying some of the same principles that Masterson discusses in his book. He reveals that one of the best ways to optimize your income is by learning a financially valued skill; that is, a skill that allows you to basically write your own paycheck because of the financial return you can bring a company. One example he gives is direct response copywriting.
Masterson also discusses ways to build wealth through real estate and entrepreneurship. He has built and helped many businesses over the past twenty-five years, and shares his experience with what works, and what doesn't work. My only regret is that Masterson didn't publish this book a year and a half earlier, before I jumped into entrepreneurship. If you're thinking about starting your own business, you'll want to pay particular attention to the section on "chicken entrepreneurship."
One of the most compelling features of the book lies in the eight case studies of real people. If you believe it's not possible for you to achieve wealth because you've filed for bankruptcy, have a low-paying job, or have massive amounts of debt, think again! The people that Masterson chooses for his case studies are every day people who struggled with the same money problems that many of us struggle with. Through persistence and focus, these people have achieved, or are on their way to achieve, financial independence long before they reach the traditional retirement age.
And if you're about ready to retire, Masterson includes a special section for baby boomers to help you achieve financial independence so you can truly enjoy your golden years.
Although the advice that Masterson provides in his book are very doable, you must still set your mind and focus on achieving results. Without a "can do" mindset, you won't be able to focus properly to do the things necessary to achieve your goals.
In conjunction with this book, I would also highly recommend you read Masterson's earlier book titled "Automatic Wealth: The Six Steps to Financial Independence."
Many clients I work with want to advance in their positions and make more money, but they don't do the things that really bring value to the companies they work for. It's not really their fault, as it's something that isn't taught in high school or college. Masterson uncovers how you can bring more value and benefit to the people you work for, which not only helps the company you work for, but more importantly, helps you. If you really want to propel your career and work towards building a seven figure net worth, I encourage you to read this book.
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