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| Missed Fortune 101: A Starter Kit to Becoming a Millionaire | 
 enlarge | Author: Douglas R. Andrew
Publisher: Business Plus
Category: Book
List Price: $23.99
Buy New: $0.01
You Save: $23.98 (100%)
Buy New/Used/Collectible from $0.01
Avg. Customer Rating:  (80 reviews)
Sales Rank: 12293
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6 x 1.2
ISBN: 0446576573
Dewey Decimal Number: 332.02401
EAN: 9780446576574
ASIN: 0446576573
Publication Date: January 3, 2005
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 New Ideas that seem like commn since once explaind by Dough Andrew in this book. April 17, 2008
2 out of 5 found this review helpful
Dough Andrew has many ideas that seem to go against traditional ideas of investment. But once you read his book it seems like common since and you wonder why no one has presented these ideas before.
Very respectfully,
Marty Burbank, JD, LLM(tax)
 Get rich with no money down!! April 3, 2008
3 out of 5 found this review helpful
Add this to the list of books that explain how you can get rich in a fantasy world. Look folks, if it was easy everyone would be doing it. You'll get rich faster by putting the money you would spend on this book into a saving account.
Watch Out February 6, 2008
7 out of 10 found this review helpful
My now former financial planner came to me last year all excited that it was a true wealth building opportunity and gave me a copy to read, which I did, from cover to cover. The other negative reviews do an excellent job of summarizing what I found after reading so I won't go into a lot of detail.
From my own perspective, I found there were some good ideas regarding the advantages of the Roth IRA's and 401k's, but I would be sure to consult a tax professional before making a move.
As far as the book is concerned, I found it to be based on a lot of mere assumptions of one's financial position. There was a lot of 'fuzzy' math in the illustrations, and numerous contradictory statements from one page to another.
The author references investing in "investment grade" insurance. There is no such thing. It is either universal or variable life, both of which are lousy vehicles for an investment and can have serious pitfalls in this situation. Do your own research or check with an impartial insurance professional if you have any doubts.
Additionally, the author does not portray any valid credentials, i.e. CPA, CFP, CLU, or anything related to financial advising. He's just another guy with a book.
I do not claim to be an investment professional, but I have found that it it is worthwhile to learn all you can to protect your own interests. So.....Watch Out!
I noticed that a lot of the positive reviews are from California and other sunbelt states. I'm just wondering how many of these folks actually did take the advice to mortgage their homes to the max, and now with the depressed real estate market have found themselves trapped in an "upside down" situation where the mortgage is far more than the market value of the house.
 Smoke and Mirrors January 27, 2008
2 out of 6 found this review helpful
Following the advice in this book is certainly better than doing nothing (financially speaking).
However, many of the concepts explains in this book are extremely misleading. Just a few examples are:
#1 Life insurance is rarely your best investment option. Mr Andrew fails to mention the extremely high commission and LACK of liquidity found in life insurance. His illustrations would never pass government standards of disclosure and consumer protection.
#2 Less than 5% of Americans pay 33% income tax. Again, this adds to the misleading nature of his illustrations.
#3 The idea of having a mortgage so you can save money on income tax is completely foolish! Lets say you are paying 33% in income taxes (as Mr Andrew loves to cite), most likely, you will not be eligible to deduct your interest anyway. But if you could, lets say you pay $1,000 of interest in a year, you would save $330 dollars in taxes. HOWEVER you still paid $1,000 in interest to save $330 in taxes. You do the math.
Again, if you are doing nothing financially, this book can help. However, you would be MUCH better off reading something like Automatic Millionaire by David Bach.
If we only had the money November 21, 2007
1 out of 3 found this review helpful
I've had to STEAL this book away from my husband, who laments he didn't have it
25 years ago. The repetitive financial messages of the book have stuck in our collective
old brain cells. The revelation by the author of his failures as well as successes is
heartening. Great synopses at the end of each chapter! I'm inspired to SAVE -- the smart way.
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