The Millionaire Maker Act Think and Make Money the Way the Wealthy Do
The Millionaire Maker Act Think and Make Money the Way the Wealthy Do
Take the mystery out of wealth building with a 12-step approach that can be used by anyone to turn the money they have into the wealth they want. Known as the Millionaire Maker, Loral Langemeier brings financial independence to thousands of her loyal followers. She reaches these people through her seminars, radio interviews, and speaking engagements.
User Ratings and Reviews
4 Stars Motivational with some good information
Loral Langemeier’s “The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do” contains some good information that can be applied toward the reader’s financial freedom plan. It is a motivating book, and Langemeier does provide some very good advice for wealth planning.
Will reading this book make you a millionaire? Of course not. Is this book all you need to become a millionaire? No again, and Langemeier would tell you the same. Is this book motivating? Yes, it is. Does this book contain some useful information for those in debt and wanting more financial freedom and wealth for themselves and loved ones? Yes, it does.
The first portion of the book focuses on what Langemeier calls the wealth cycle and her building blocks of this wealth cycle. These building blocks include: gap analysis, financial baseline, freedom day, debt management, entities, cash machine, wealth accounts, forecasting, assets, leadership, teamwork, and conditioning.
She goes through several chapters illustrating with examples of how to do a self-inventory, or gap analysis of your starting position. Regardless if you use her eight questions and formula or another, it is a very good idea to take stock of your present situation in order to plan to forge ahead toward prosperity. I personally think you could do a lot more for your baseline, but at least this book gets a person thinking of what they have both in assets and debts as well as skills. It is a good first step.
Langemeier writes about using business entities such as corporations and LLCs. I believe this is very important, but would advise people to take Langemeier’s suggestions and then do more homework by talking to your attorney or CPA to determine just how you want to form such entities and how to use them to the maximum benefit. This is where a book like this tells you some very basics, but you need to learn more. Langemeier’s chapter on eliminating debt had some good suggestions. Maybe nothing much different from many other books on the topic, but because debt is such an issue for so many people, any help for those struggling is appreciated.
I really liked the conditioning chapter that lets readers know that money is not evil and it is okay to want to make and to actually make more money for yourself and those you care about. The final short chapter on teaching your children about money, wealth creation and financial literacy is also a great point.
I enjoyed the book. It contained some good information and motivates you to take financial matters into your own hands. Becoming a millionaire is not as easy as just reading a book, and I think you need a lot more than just this book to assist you in making your millions. However, including this book in your wealth library and taking some of Langemeier’s suggestions and motivating words to include in your wealth building plan is a great idea.
Reviewed by Alain Burrese, author of Hard-Won Wisdom From the School of Hard Knocks and the dvds: Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, the Lock On Joint Locking Essentials series and articles including a regular column on negotiation for The Montana Lawyer. Alain Also wrote a series of articles called Lessons From The Apprentice.
1 Star True Reality Check
The biggest problem I have with this book is not as much what it says but what it doesn’t say. Although the concepts look good on paper it compares to telling a kid if he does A,B,C he will become a rich professional athlete. This is not reality. I unfortunately have to rescue people who have fallen for this unrealistic trap. I encourage you to read the other 1 and 2 star reviews. They are all on the mark.
1 Star Don’t bother
Very little actionable advice, the book is heavily padded with repetive tables and figures that if rationalized would probably drop it under 150 pages. I felt that the true purpose of this book was to market the author’s seminars, to get me to follow up with them so they could sell me their coaching services.
One of my favorite lines was that real estate is a “continually appreciating asset”. She obvoiusly was not doing this in the 80s and given recent times may want to put out a new edition.
There are much better books in this category.
4 Stars You can do it, says Loral Langemeier
Loral Langemeier has a down-to-earth method of improving your way of seeing your finances and your financial environment. Setting out the building blocks, she helps in the analysis of a financial situation and gives guidelines on how to proceed to acquire a healthy dosis of confidence in managing one’s financial affairs.
The book is an introduction to more extensive courses, but this is a good start and certainly gives adequate food for thought. If nothing else, you will live better and with more purpose.
3 Stars Good But Not Great
The book itself is quite good, but beware the tendency to push her mentorship program.
She has a company that sells mentorship to becoming wealthy. the only person becoming wealthy is laura!
I know some of her real estate investment recommendations to her students have not panned out. Its not that she was scamming them, but rather she was short of misled herself.