Creating Wealth: Retire in Ten Years Using Allen's Seven Principles of Wealth!

by Robert G. Allen

Book Overview

With over two million copies of his books in print, Robert G. Allen has become a national phenomenon. His innovative investment strategies have helped thousands create their own wealth, and in this new and revised edition of Creating Wealth you'll discover the Allen way to financial success. Program

• Format: Paperback
• Language: English
• ISBN: 0671621009
• ISBN13: 9780671621001
• Release Date: April 1986
• Publisher: Fireside Books
• Length: 304 Pages
• Weight: 0.65 lbs.
• Dimensions: 0.8" x 5.4" x 8.4"

Customer Reviews

Worth reading

This book is well done and contained alot of good information and concepts concerning real estate money. I read this after reading "Rich Dad; Poor Dad". My only complaint would be that the author could explain some terms and concepts in more detail and that it was written in the 80s, although the material is still applicable today.

Creating Wealth is still a winner.

I just picked up a copy of Creating Wealth earlier today after having bought other books by the author like Multiple Streams of Income and The 1-Minute Millionaire.In chapter 1 "We were programmed to fail from the moment we were born" Allen discusses 9 major misconceptions about money and why it prevents us from becoming successful. Interesting is that number 1 misconception is "Having a job is good and leads ultimately to wealth." That was originally written back in the 80's and certaintly no one will argue that having a job will lead to wealth is an incredible misconeception.Another misconception that Allen covers is "Saving your money is a good investment." Is there anyone who really thinks that a savings account is an investment? Only those who are broke.In chapter 2 Allen shows us "How to develop a wealthy mindset." This chapter includes Allens 5 steps some are familiar like affirmations, goal setting and a 30-second commercial (from Dr. Schwartz's book)Chapter 3 "A fool and his money are soon parted." Allen offers his 7 wealth principles and where to put your money.In chapter 4 "Launching yourself into financial self reliance", ALLEN outlines the three stages to wealth building; 1) The Pre-launch Stage2) The liftoff or struggling stage3) The Powerful pre orbit stageIn this section Allen discusses what to do if the economy goes bad. Where to put your money and what to do with your real estate holdings.In chapter 5, Allen introduces the fourth stage to wealth--"the Automatic Pilot Principle." Allen then covers strategies for this fourth stage of wealth. The next 6 chapters deal specifically with real estate (no surprise here), how to buy it, finding the bet deals, even making the deals come to you, scripts to call ads from the newspaper, real estate contracts, a property grid to help you select the best property and a property analysis form. I found this section more complete than Allen's earlier book "Nothing Down." One similiarity were the "Nothing Down" techniques which were in "Nothing Down" but were presented in a a different way here.In section 4, chapter 12 Allen discusses Discounted Mortgages and the enormous profits from investing in that segment of real estate. He again offers scripts to use to call on mortgage holders and how to determine the yield and potential profits.In chapter 13, Allen discusses investing in precious metals. Chapter 14 "Liquid Money and Where to Pour it" and Chapter 15 "Why the rich pay little or nothing in taxes" round out the Creating Wealth program.Reading the book in 2003 is interesting as Allen refers to prices based on 1980's real estate. So readers will have to check local prices and not go by the prices Allen mentions. That is not a reason to knock the book. Likewise the tax information is 1980's based but the principles haven't changed. Just get a new tax guide. Tax rules are changing constantly. Finally Allen discusses how to avoid lawsuits, but better, newer information is in "Multiple Streams of

A book that will show you how to create wealth...by someone

who has done it!Creating Wealth was written back in the mid 1980's, interestingly enough, a time when the economy was very similiar to the current economy, a time when a strong republican was in office and a time when tax cuts and other powerful strategies were being introduced by the administration that was in charge at that time.However, Creating Wealth is a good book for anytime. It offers timeless advice by Robert G. Allen, a man who has helped create more millionaires and financially successful people than anyone in history.In this book by Robert Allen, a followup to Nothing Down which was at that time a national best seller and stillselling very well today, 23 years later, you will learn how to create a wealth building program tailored to your own individual needs.In Creating Wealth, Allen explains the fundamental ideas and principles which made him a multimillionaire before he was thrity-five.His surprisingly simple---and effective strategies can help any investor amass and maintain a fortune starting with little or even no money, yes, even in todays volatile financial climate.The first step to becoming wealthly, Allen tells us, is to stop thinking poor. He shows how most of us have been programmed to think that only saving is good, debt and risk taking is bad, and that in our efforts to gain security we disqualify ourselves from ever making a substantial amount of money.By developing the "wealthy mindset" as explained by Allen, you can launch yourself into financial self reliance. Robert Allen's practical and innovative investment advice, combined with a realistic set of goals and values along with a firm committment to getting ahead, can help you achieve a level of success you never dreamed was possible.In Creating Wealth you will learn how to:* master the seven principles of wealth* develop a winning wealth strategy suited to your own unique circumstances.* make the opportunities come to you* organize your life and your money to avoid taxes* perpetuate your wealth once you have it* retire within ten years!The key lies in Allen's unique integration of real estate with other wealth generating investments. Creating Wealth provides detailed information on how to use leverage to multiply holdings while minimizing risks; how to take the greatest advantage of the tax system; when to diversify and in what directions, including special sections on high yield discounted mortgages, numismatics, limited partnerships, money markets and more; and how to set up corporations and trusts to protect your assets.At a time when just keeping up with the bills and hanging on to a job is difficult, bankruptcies at an all time new high, Creating Wealth offers a system to get ahead. No matter how much or how little you've got to start with, Robert Allen's proven strategies can help you build---and keep---a fortune.The parts of the book that I found most useful were* The Automatic Pilot Principle* Enormous Profits in Discounted Mortgages* Numismatics: the secret

You can't beat the classics!

The excellent book by Robert G. Allen was originally released back in 1986, but the advice is timeless.Although many have attempted to copy Mr. Allen, most are mere imitations. His material remains fresh, strategies are workable and his writing style is entertaining and informative.This book had been revised and updated. I also recommend Multiple Streams of Income, Nothing Down for the 90's (still works in the new millenium) and The One Minute Millionaire.Creating Wealth is a classic and a must read for anyone who wants to create real wealth.

Timeless advice by Bob Allen

While it is true that Creating Wealth was written back in 1986, the advice is timeless.Interest rates and costs of mortgages may be different but people still want wealth; discounted mortgages abound and tax liens still are a powerful strategy. The nothing down scripts are still effective. I used them in 1988 and I am still using them now.Now if you want a book that is sorely out of date, read Making the Most of Your Money by Jane Bryant Quinn. Now that book was outdated before it showed up on the book shelves!

Excellent source of information for the first-timer.

After having personally read over thirty books on the subject of real estate investment, I've found Robert Allen's book stands out from the rest. It is one of only a few books avialable today that actually teaches a step-by-step approach to investing. It leaves the general theories to the other authors and instead, gets down to the nitty-gritty of starting down the path to financial independence. The author doesn't self-promote his own elaborate collection of materials and seminars as so many others do, which I greatly appreciate. As someone who is just starting to look into this fascinating subject, I can confidently tell you; don't waste your time elsewhere, buy this book, you won't be dissapointed.