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Eight Steps to Seven Figures

The Investment Strategies of Everyday Millionaires and How You Can Become Wealthy Too

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Eight Steps to Seven Figures

By: Charles Carlson
Narrated by: Charles Carlson
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About this listen

 In the tradition of the megabestseller The Millionaire Next Door, Eight Steps to Seven Figures brings together in-depth interviews with over two hundred everyday people whose investments have made them millionaires. But while The Millionaire Next Door describes its subjects' lifestyles and spending habits, Eight Steps to Seven Figures focuses squarely on the investing strategies and principles that ordinary people have used to achieve the magic million-dollar mark.

Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they choose as part of their investment mix. In the course of the book, readers learn how to determine how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free. Among the lessons he outlines and elaborates on:

"Buy and Hold and Buy and Hold and Buy and Hold"--Harness the power of time in growing your portfolio and compounding your investment returns.

"Know Where You Are Going"--Determine your invest ment time frame, financial goals, and risk "comfort" level to put together a successful wealth-building strategy.

"Play to Your Strengths"--Everyone has different personality strengths, investment advantages, and specialized knowledge that they bring to the table; recognize and exploit them in achieving your financial goals.

One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life, and can't fully harness the power of time, can find here the guidance they need to become wealthy.

Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, Eight Steps to Seven Figures is an absolute must for today's investors.



Bestselling author and chartered financial analyst (CFA) Charles Carlson reveals the keys used by the newly wealthy to reap extraordinary dividends, including a discussion of the specific stocks, bonds, and other financial vehicles they chose as part of their investment mix. In the course of the book, readers learn how much time they need to spend researching and watching over their portfolios, when to buy, and equally important, when to sell. From hundreds of accounts of those Carlson calls "Main Street millionaires," he distills eight specific investment rules anyone can follow to become financially worry-free.

One of the best things about Carlson's book is that it recognizes and allows for readers who may not have the resources to follow all eight rules. It offers reassurance and hope that there is more than one way to achieve the seven-figure pinnacle. Even people who started investing later in life and can't fully harness the power of time still can find the guidance they need to become wealthy.

Filled with the insights and investment advice that hundreds of everyday people have followed to become rich, and buttressed with countless you-are-there stories of how these millionaires did it, EIGHT STEPS TO SEVEN FIGURES is an absolute must for today's investors.-->©2000 Charles B. Carlson, CFA; (P)2000 Random House, Inc. Bantam Doubleday Dell Audio Publishing, a Division of Random House Analysis & Strategy Career Success Investing & Trading Personal Finance Stocks Investing Career Employment

Critic Reviews

"Invest regularly, as much as you can comfortably, for as long as you can."
--Rex Trotter, $1.2 million investment portfolio

"I look for companies which are in the fields that I have personal knowledge of and can judge what they are doing and how well they are doing it."
--Leonard Falk, $1.52 million investment portfolio

"I saved aggressively up to 90 percent of my salary at times. I taught school in 1965-66 and earned $6,000. I saved $3,000. In the Peace Corps, I earned $50 per month. I saved $20. The Peace Corps found out and cut my salary to $30 a month. I still saved. Once I saw the savings grow, there was no stopping me."
--Sandra Bally, $4.6 million investment portfolio

"A winner only has to be right 51 percent of the time. If you're right 75 percent to 80 percent of the time, you're a big winner."
--Sam Stevens, $1.8 million investment portfolio

"I savor the boredom of watching the grass grow, a little every day."
--Ken Chilton, $3.2 million investment portfolio

"People should just get started and not be afraid to make mistakes."
--Eileen Funk, $6 million investment portfolio
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