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The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do Hardcover – Jan. 21 2006

4.3 4.3 out of 5 stars 121 ratings

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Product description

From Publishers Weekly

Millionaires don't get there by working hard for others and saving pennies, insists this high-wire personal finance self-helper. Instead, "master coach" Langemeier urges the nonwealthy to quit their jobs, start businesses, plow money into real estate and other "aggressive, unconventional" investments, construct a maze of tax-minimizing business "Entities" and amass "assets that create more assets." The result is dramatic makeovers of people like Mike and Mary, a mechanic and laid-off administrative assistant with two kids; Langemeier quickly convinces them to start a dune-buggy company, buy 12 rental properties and a promissory note and turn their family into a financial empire consisting of two limited liability companies, an "S corporation" and "a trust to serve as an umbrella for all of their companies and holdings." The author calls this taking personal control of one's finances, but doing so, she emphasizes, requires a vast support staff of lawyers, accountants, realtors, business brokers, "sector analysts" and miscellaneous "field partners." She provides many case studies of skyrocketing wealth, but never seriously addresses the risks her daredevil financial strategies pose, and relegates the critical details to unexplained balance-sheet entries. Complete with motivational hectoring and an offer of a free phone consultation, Langemeier's primer feels like an infomercial. (Jan.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

"Breaking into the bestseller club is especially hard in personal finance and investing because any author who wants to compete in the financial big leagues needs a great, fresh idea; a proven track record; and a big, charismatic personality..

. "Despite the tough requirements, the next few months promise not one, but two serious contenders for the title of Next Big Thing: Loral Langemeier and Phil Town. Both of them avoid the psych-heavy approach to personal finance..

. "'Most people talk about psychology, ' says Langemeier, 'and what's working/what's not working in their business. But [my team and I] really go tactical. We're truly planning through what we call a gap analysis: where people are, where do they need to go.'.

. "A go-getter from a young age, Langemeier started her first business while she was still in college. By 35, she was a multimillionaire. Her book, The Millionaire Maker (McGraw-Hill, Jan.), showcases the concepts she honed with her coaching-consulting company, Live Out Loud, which emphasizes aggressive, multilateral investing..

. "'What we noticed, ' she says, 'was that the millionaires who got created faster, it was how they sequenced. They got their assets invested; they learned to make more money; they were running their personal finances like a business-for profitability. They were incorporated; they had diverse assets. But they do it all pretty simultaneously. Whereas a lot of plans would say get out of debt then we'll work on it. We would never say that. It's too slow. It's not what millionaires do. Millionaires don't worry about a latte a day, you know.'.

. "So far [Langemeier and] Live Out Loud have made over 200 millionaires, and not one ofher 10,000 clients has filed for bankruptcy."--"Publishers Weekly,"

"This book is not for the financially faint of heart. The intended audience of potential speculators must be willing to leverage 401Ks and home equity to engage in direct investment opportunities such as small business ventures.

"Langemeier, a financial coach and strategist, not to mention a multimillionaire, outlines her trademarked step-by-step "Wealth Cycle" process for generating and sustaining wealth in a clear and easy-to-follow format. Income and lazy assets can be turned into assets that produce passive income and sustainable wealth via rental properties, for example; adequate use of graphs and charts explain the theoretical framework behind the author's approach as well as her "Gap Analysis" model that helps investors chart their own program.

"A nice cross section of case studies is used to explore a variety of implementations. Readers will grasp basic principles of such matters as entity structuring, depreciation, and direct investing, but the information is very much at the cursory level, with little discussion devoted to risk. Still, this title does provide an alternative view to David Bach's enormously popular "The Automatic Millionaire: A Powerful One-Step Plan To Live and Finish Rich,""--"Library Journal"

Product details

  • Publisher ‏ : ‎ McGraw Hill; 1st edition (Jan. 21 2006)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 288 pages
  • ISBN-10 ‏ : ‎ 0071466150
  • ISBN-13 ‏ : ‎ 978-0071466158
  • Item weight ‏ : ‎ 558 g
  • Dimensions ‏ : ‎ 14.99 x 2.54 x 24.13 cm
  • Customer Reviews:
    4.3 4.3 out of 5 stars 121 ratings

About the author

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Loral Langemeier is a money expert, sought after speaker, entrepreneurial thought leader, and

best-selling author of five books who is on a relentless mission to change the conversation

about money and empower people around the world to become millionaires.

The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral shares her

best advice without hesitation or apology. What sets her apart from other wealth experts is her

innate ability to hone in on the skills and talents of everyday people to inspire them to generate

wealth. She has created, nurtured, and perfected a 3-5 year strategy to make millions for the

“Average Jill and Joe.” To date, the company has served thousands of individuals worldwide

and created hundreds of millionaires through wealth building education keynotes, workshops,

products, events, programs, and coaching services.

Luminaries including Bob Proctor, John Gray, Jay Conrad Levinson, and Michael Gerber are

powerful champions of her work. T. Harv Ecker says, “Loral Langemeier’s investment strategies

make millionaires – and the best thing is that anyone can use them.”

Loral’s straight talk electrifies audiences and inspires powerful action from live stages and

television programs ranging from CNN, CNBC, The Street TV, Fox News Channel, Fox

Business Channel-America’s Nightly Scoreboard, The Dr. Phil Show and The View. She is a

regular guest-host on The Circle in Australia and has been featured in articles in USA Today,

The Wall Street Journal, The New York Times, Forbes Magazine and was the breakout star in

the film The Secret.

With unquestionable candor, she is quick to speak truth that leaves no doubt about her point of

view.

“Get off your lazy assets.”

“Millionaires don’t leave money to chance.”

“Companies make money. People get taxed.”

“You are here to do something better.”

“Change and engage your relationship with money. Start first by hanging out with people who

have it.”

“Entrepreneurs change economies.”

“Entrepreneurs solve problems and need needs.”

“What problem do you solve and what needs do you meet?”

“Say YES and figure out how to get it done.”

Growing up on her family’s farm in Nebraska, Loral was never content to sit at the little kids

table for holidays or special occasions – even as a nine year old. The Big Table was where the

important conversations were happening, and she quickly took her place – even if it meant

sitting on someone’s lap. Today, she and her team call smaller players in money matters to take

their seats at The Big Table as the conversations around money shift perspectives and

livelihoods for the better.

Loral is living proof that anyone can have the life of his or her dreams through hard work,

persistence, and getting things done in the face of opposition. Loral began her career working

with the Chevron Corporation right out of college. It was clear to her early on that there was

more to life than cubicles and trading her time for dollars. Despite her own fears and persuasion

from friends and family against it, Loral quit her job to become an executive coach. Virtually

overnight, Loral quintupled her income while working much less. With her newfound freedom of

time and accumulation of wealth she founded Live Out Loud, Inc.

As a single mother of two children, she is redefining the possibility for women to have it all and

raise their children in an entrepreneurial and financially literate environment. Loral is dedicated

to helping men and women from all walks of life to become millionaires and enjoy time with their

families.

Legacy is something very important to Loral. She is a frequent donor to charitable groups

including The Boys and Girls Club of America, The Lake Tahoe Bear League, An Empowered

Woman Foundation, Life School and Family Resource Centers. She has developed special

programs for women and children and, in 2012, raised $40,000 for the founder of the Make-A-

Wish Foundation. She also runs Serve Out Loud, a program aimed at providing discounted

education in financial literacy to United States Veterans.

Follow Loral Langemeier:

Website - integratedwealthsystems.com

Courses - integratedwealthsystems.com/programs

FB - Facebook.com/groups/iwsmillionairesintraining

Twitter - Twitter.com/askloral

Instagram - Instagram.com/themillionairemaker

Linkedin - Linkedin.com/in/lorallangemeier/

YouTube - Youtube.com/c/LoralLangemeier/videos

Podcast - integratedwealthsystems.com/podcast

Speaking - lorallangemeier.com/speaking

New Book - MakeYourKidsMillionaires.com

Customer reviews

4.3 out of 5 stars
4.3 out of 5
121 global ratings

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