I first heard of 100 Ways to Create Wealth on a radio show a few weeks ago. Mrs. Frugal and I were going to Costco to buy in bulk and one of the authors (I think it was Sam Beckford) was being interviewed by Bob Brinker. As I’m trying to figure out how to eventually enjoy the freedom that comes from being an entrepreneur, I figured this might give me some insight into how to create wealth.
After reading about 50 of the ways, I can give a preliminary review, starting with what the book isn’t.
It’s not about getting rich quickly, nor is it a collection of money making ventures. Instead, it’s a collection of 100 psychological checks. I agree with most of them. The book has some new-age type thoughts sprinkled through it (Way #1 is to draw a line in the sand and decide that you want to be wealthy), but it has some very good points (Way #4 is to use an hour a day to think about how to solve problems rather than escaping problems through TV or some other distraction). In #4 the authors point out that you don’t really need to know about Russell Crowe hitting a hotel clerk with a phone and that people live their lives through surrogates when they watch too much TV. I think I’ve pointed out in a recent post that Mrs. Frugal and I don’t have a TV, so #4 stuck with me.
Another point that I agree with wholeheartedly is that it’s easier to deal with money if you can make it a game (#5). I’ve made saving a game and I like to try to beat my previous bests. I’ve had difficulty, though, making work a game. I’ve had jobs in the past that were so much fun that I couldn’t wait to get to them, but my current job is far from that. If you can make earning a game, it’s much more fun.
Overall, 100 Ways to Create Wealth is a four-out-of-five stars book. It’s definitely worth reading (at least through Way #50, which points out that you aren’t bad if you have lots of money), but I am not fully sold that thinking your way to riches will work.
Oh, and don’t let the cover fool you. It’s not the best looking cover I’ve seen. According to the jacket, the cover was designed by the editor.