The Book Blawg

The Five Lessons a Millionaire Taught Me About Life and Wealth, by Richard Paul Evans

I've read a lot of books on money and wealth. Robert Kiyosaki, Robert G. Allen, Suze Ormond, several books with the word “Millionaire” in the title, and so forth. This book adds nothing new to the genre. It is, however, concise and short – the book flap claims it can be read in one sitting. Personally, I would recommend two. Perfect for a plane trip. I would recommend it if you are just beginning to learn about wealth; or if you are not a reader and want something short and interesting. Perhaps as a gift for a friend. Mr. Evans' book just doesn't have the depth of the above authors.

Here’s what I did get out of the book:

Becoming wealthy is as much as psychological and emotional exercise as a physical one. Anyone who has ever dieted knows that it’s easier to stick to a diet when you see immediate progress in the mirror and on the scale. Likewise, the most powerful way to encourage new, wealth-accumulating behavior is to see visible, tangible results. I found that the best way to see tangible results is to create tangible wealth – to have something you can watch grow. In fiscal terms, this is called a nest egg:

A sum of money put aside for future expenses.

Personally, I prefer the dictionary’s older, original definition of a nest egg:

A real or artificial egg that is put in a hen’s nest to encourage it to continue laying after the other eggs have been removed.

This definition alludes to a powerful psychological need for anyone attempting to accumulate wealth: the provision of incentives in order to spur further productivity. I cannot overstate the importance of creating and abiding mental concept of your nest egg.