The main goal of this book is to teach you one of the most important secrets in life: how to let money make money for you. Although money is inanimate, it can breed like a living person. It can reproduce itself one time, ten times, 100 times, 1,000 times, a million times and more.
The theory upon which this book is based comes from financial planner Brett Machtig, who asked a question rarely found in other books on finance: “When will you be able to live off of your investments?” This is another way of asking, “When will you let money make money for you?” The secret Brett is sharing is this: It is possible to accumulate enough money in investments to pay your monthly bills from the returns these investments generate! Once you accumulate the money to do this, it will take care of your needs, and will bring you thousands of dollars each year that you will not spend one hour of work to earn! This is the secret, the miracle, the glory of compound interest. Whereas most Americans spend their lives paying interest on their loans, you will learn to earn interest on your investments.
Most financial books are about rehabilitation, helping people to get out of the financial mess they made earlier in life. This book is about prevention. It teaches young people the secret before they make a mess; it gives them a step by step plan for:
- Getting out of debt within three to four years after they complete their education
- Saving to buy and pay for a home in 10 years
- Maximizing their retirement plan from the very start of their career
- Working, saving, and investing to reach the point where the interest from their investments will pay their monthly bills, a goal that can be reached by age 40 to 45.
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