Notesale: Turn your study into money

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Making Money, Creating Wealth:
Your Guide to Financial Independence

By
Philip E
...
Humbert Group, Inc
Contact the Author on the Internet at:

www
...
com

Making Money, Creating Wealth:
Your Guide to Financial Independence

Table of Contents:
(To jump instantly to any chapter, just click on the Chapter # or Title)

Chapter 1:
Chapter 2:
Chapter 3:
Chapter 4:
Chapter 5:
Chapter 6:
Chapter 7:
Chapter 8:
Chapter 9:
Chapter 10:
Chapter 11:
Chapter 12:

Forward
Intro: Making Money, Creating Wealth
Money as an Idea or Symbol
Money as a Measure of Value
Understanding The Cost of Entry
The Value Comes First, the Money Comes Second
The 4 Paths to Financial Freedom
The 10% Solution
Top 10 Reasons to Invest in Mutual Funds
The Keys to Keeping What You Have
Top 10 Steps to Becoming a Millionaire
The Next Steps
Continuing the Journey
Bibliography
Final Notes

Page
2
3
5
6
7
9
11
16
18
20
24
26
28
29
31

Making Money, Creating Wealth
By: Philip E
...
I was not surprised
that my 11,000 readers would be interested in articles on the topic of making and keeping
money
...

That touched me, and I began thinking about compiling the three articles into a little
pamphlet, which eventually grew into this book
...
Obviousy, the idea of
making money by publishing a book on money made sense and was very attractive!
But, I kept going back to those emails and letters from long-time subscribers
...
I wanted as many people as possible to have that experience, and I
decided to give this away, free of charge on the Internet
...
And so, I have three requests:
1
...
Use it! It’s free, but I believe it is extremely valuable
...
But many people have told me that the value is very high
...
Again, there is no cost, but tremendous value! So, pass the word!
2
...
If you find errors or points that are unclear, please let me
know
...
Because it’s published on the Internet, it’s easy to add or
clarify points, and your contributions will make the book even richer for those who follow
behind you
...
com
3
...
But,
please do encourage friends, family members, and colleagues to visit my website and get their
own copy
...
Humbert Group, Inc
...
Humbert, PhD
© 2000, All Rights Reserved
Page 3

Chapter 1: Intro: Making Money, Creating Wealth!
The following pages are about understanding, making and keeping more money
...

Information is among the most worthless commodities on earth
...
We have far too
much information – and not enough guidance about using it to make a significant difference
in our lives
...
I want to give you the best of what I have
learned from working with over 100 entrepreneurs, and investing in the stock market and in
my own businesses for many years
...
Even
clumsy or mis-guided or inefficient action will bring results
...

By taking action, you can avoid or get out of debt
...
And the truth is, even if you make lots of
mistakes, you can still accumulate a fortune
...
As long as you take action, you will get results
...
The best book in the world on investing is of no more
value than a rock, if it sits on your desk, unread and ignored
...
Do not let that happen!
There are dozens of wonderful books on making and keeping money
...
So, why am I writing another
one? Because I don’t want this to be just a book, at least not exactly
...
If you want to understand the banking system
or the politics of Fed policy, this book is not for you
...

But, if you want to reduce your credit card debt, invest wisely, make more money, and have
more in your pocket at the end of the year, then this is for you! Let’s get going!
And…here is the usual disclaimer
...
Humbert, PhD
© 2000, All Rights Reserved
Page 4
I’m going to be very candid in the pages that follow, and when I have an opinion about what
works or what I think you to should do attract wealth, I am going to say it
...
And, some of it might even be good advice! But, I am not a financial planner
...
I am a coach and a
businessman
...

Take my advice with a grain of salt, question it, and for goodness sake, don’t trust a thing I
say! Always check with your own professional advisors
...

It takes work to get rich slowly! And no one will take as much interest in your financial
future as you will
...

With a good education, solid information, a bit of wisdom, patience, insight and a willingness
to take action, I believe almost anyone can accumulate substantial wealth
...
You get rich by earning it
...
Humbert, PhD
© 2000, All Rights Reserved
Page 5

Chapter 2: Money is an Idea or Symbol
In my weekly newsletter, I’ve written that making money is relatively easy and yet most folks
never achieve financial independence
...

Accumulating wealth is the predictable result of knowledge, effective strategies, patience and
persistence
...

The essential first step is to respect money and understand how it works
...
Some of us even avoid the subject
...
We
don’t read about it, we don’t budget or track it
...
No wonder that as adults, the one thing
we do know about money is that we don’t have enough of it! It’s time to change that!
The second step to creating wealth is to understand this: Money is fundamentally an idea!
It’s a social agreement to exchange value in a convenient way
...
After World War I, particularly in Germany,
cash literally became worthless
...
Some thieves accosted her, wrestled the wheelbarrow from
her, turned it over to dump the money on the ground and ran off with the wheelbarrow
...

The key to making money is understanding that those numbers and pieces of paper represent
human effort and wealth
...
And so, the price of any object is only
what two people – a willing buyer and a willing seller – decide it’s worth
...
But to the seller, it may be a valuable stock certificate, or a priceless
painting
...

To make and keep money, it is absolutely essential that you “get” this! Your home, your job,
your car, the price of a meal in a restaurant or an airline ticket is only what the buyer and
seller decide it is!
Take a moment to ponder that
...
The money was worthless
...
Humbert, PhD
© 2000, All Rights Reserved
Page 6

Chapter 3: Money as a Measure of Value
Hopefully, none of us will ever see our money become worthless, although in a sense that is
what happens through inflation
...
Today, we generally agree to pay somewhere between two
and four dollars, depending on things like freshness, packaging and special ingredients
...
Why would anyone pay more for unsliced bread? Because of our concept
of “value”
...
Credit cards, as we know them, were invented in the
early 50’s, shortly after WW II, and many subscribers to my weekly newsletter remember
when credit cards were rare
...
If you want
more money, you must create something that other people value!
Throughout history, the things we value have changed
...
For centuries, horses were particularly valued for their mobility and value as a
source of military power
...
For many
people today, land remains a primary source of value and they will pay a premium for a piece
of ground on which to have a yard, perhaps a small garden and a sense of privacy
...

By the 19th century, industrial capacity emerged as the primary source of value, and the
richest people in the world owned railroads, oil refineries, and steel mills
...
Families like the Rockefellers made fortunes in oil, while Henry Ford
created the modern assembly line and the Macy’s, J
...
Penney’s and Sears & Roebucks
created value (and wealth) by making products available to the average consumer
...
That is the key to wealth!

Making Money, Creating Wealth
By: Philip E
...
The king owned all the land, and the population struggled to survive on
what they could grow or earn in small cottage industries
...
Few people could raise the capital, and so few
people ever got into the game
...
The barriers prevented most people from ever being able to own a business or take
control of their financial future
...

Think about this for a moment…
...
After writing the pages, I would have contacted a magazine or book
editor in hopes they would publish my writing, or I would have gone to a local printer, paid to
have a few hundred copies of this booklet made up, and then announced that it was for sale
...

In fact, I would probably not have written it, because the odds of making a profit were so
slim
...

But today, I can put this together, publish it on my website, announce it to the world, and you
down-load it for free! The total cost of production? Some of my time, and the use of Acrobat
to format it
...
I would have made money, and you would be a happy customer
...
I’m a

Making Money, Creating Wealth
By: Philip E
...
I’m a writer
...
I make my money by being known and appreciated as
someone who knows stuff – who knows about solutions and communication and making a
difference! There is more value for me in having this booklet widely distributed, than in
rushing to the bank with the few thousand dollars I might earn by selling it
...
The
revolution is in: (1) the Low Cost of Entry, and (2) the resulting ability to provide value at
low cost
...
If
you know about creating and publishing a booklet on the Internet, you can do so! If you
know how, you can buy apartment buildings with “nothing down” – there are books on it!
The cost to invest in mutual funds and participate in the stock market is as low as $50!
In America, and in most countries, you can start your own business by opening a checking
account and buying business cards, for a total investment of less than $200
...
Knowledge is the capital of our times, and if you know
how, you can even buy operating, profitable businesses for very little of your own money
...
Whether your interest and inclinations are to trade stock or
commodities, or to write a novel, or sell real estate, you can create a fortune
...
The only real requirements are not capital, or
influence or wealth
...
Humbert, PhD
© 2000, All Rights Reserved
Page 9

Chapter 5: The Value Comes First, the Money Comes Second
There is an old saying, “The more you put in, the more you can take out”
...
You must contribute something of worth, something that makes a
difference, something your customers (your boss, your clients, your community) value!
Value always comes first, the money comes second
...
We say, “pay me more money, and I’ll work harder or I’ll go to
school and add more value”
...

Creating value is about changing (transforming) the quality or nature of something
...
It’s about transforming an eager
student into a skilled doctor
...
It’s about
putting this booklet on the Internet, making it available, making it useful, and creating value
...
By using your skills to create a product or provide a service that makes life easier,
more comfortable or more profitable, you create value
...

So, how will you do that? That is the only question
...
Examples included: Will the union
get me a raise? Will they add dental care to my health insurance benefits this year? Teachers
asked when they would receive tenure, and engineers asked about the company’s retirement
benefits
...
Today, they no longer apply
...
Let’s pick an extreme example
...
Pharmaceutical companies
are racing to produce drugs that reduce the need for surgery, or that prevent illness altogether
...
In fact the need for specialists of all types, including neuro-surgeons, is
actually going down!
There is no such thing as job security! Someone, somewhere is working very hard to
eliminate your current job, or to reduce your income
...
Humbert, PhD
© 2000, All Rights Reserved
Page 10
The key, the only key is: provide value!
To become wealthy, all you have to do is provide a benefit that lots of people value
...

One of the most successful businesses no one ever heard of during the 90’s was
“SafetyKleen”
...

It’s dirty, disgusting stuff and no one wants to touch it! So, people value the service of having
someone take it away
...

Check out their stock chart over the past 10 years
...
Proctor & Gamble removes dirt from our
clothes (Tide detergent) and plaque from our teeth (Crest toothpaste)
...
Real Estate agents solve problems
...
McDonalds and other fast food
restaurants do not serve great food, but they do serve convenience, reliable, predictable
service, and speed
...

The possibilities are unlimited, but you must provide value, and you must take action!

Making Money, Creating Wealth
By: Philip E
...
But the practical question remains, what paths
can you follow to accumulate significant wealth?
The key to providing value over the long-run, and the point at which many people get
confused, is that there are only 4 basic strategies for accumulating wealth
...

The first method is through employment
...

In most countries, this is the most common and least efficient strategy for making money
...

There are very, very few jobs that pay enough after taxes to facilitate the accumulation of
significant wealth
...
And, as you get the raises and bonuses, the percentage
of income lost to taxation actually goes up, usually even faster than your raises
...

And remember, employers must pay you less than your skills are worth
...
Additionally, as we discussed in Chapter 5, in the global economy, there will be
more and more competition for the good-paying, high-value jobs that are available
...

For most people, earned income (a job) is an inefficient way to provide value or accumulate
wealth
...


Making Money, Creating Wealth
By: Philip E
...

This is the choice of many professionals and home-based businesses
...
As the self-employed owner of a small business
(often called a “micro-business”), you can set your hourly rate, and you have some freedom to
work when and if you choose
...

And, the government offers substantial tax advantages in exchange for the risks you take in
creating your own job
...
The government recognizes that this
represents substantial risk (most new businesses ultimately fail), and it represents lots of hard
work
...

The down-side is that, while we refer to it as a business, in fact, it is usually still a job
...
And, many people find that being both the boss, and the most important employee, is
very stressful
...
If you take a leave of absence or are not
able to do your work as an attorney, accountant, sales person or graphic designer, your
income usually stops
...

Many independent contractors, artists, multi-level marketing professionals and other smalloffice, home-office business are in this category
...

The third path to financial independence is business ownership
...

Businesses are systems that deliver value by organizing and combining the efforts of many
people
...
It means taking risks, and reaping the rewards if things work out
...

Going back to McDonalds, the system delivers burgers, and makes money whether the owner
is present or not
...

There are many disadvantages and difficulties in starting a business, particularly compared to
the simplicity of having your own company as a self-employed professional
...
As a business, you’ll have employees to hire, train,

Making Money, Creating Wealth
By: Philip E
...
There are legal and accounting complexities and you’ll need
talented (and expensive) professionals to advise you
...
The owner of a well-run restaurant does not have to be
physically present every moment the restaurant is open for business
...

Once a business is running smoothly, it creates value (and cash) indefinitely
...

To take an extreme example, Microsoft is generally acknowledged to be among the most
successful businesses in modern history
...
In fact, the cost of producing CD’s is so low that many companies give them away as
advertising freebies
...

The company is immensely profitable because it has been able to organize the talents of many
different people
...

Starting, organizing and running a business is one of the most reliable paths to wealth
...

It is interesting to note that for over 200 years in America, immigrants have been among the
greatest beneficiaries of this pattern
...

Many don’t speak English, and they are often prohibited from entering the professions or
other high-skill, high-salary jobs
...
They become florists or landscapers or dry cleaners
...
Families will often pool their capital to buy a taxi or, especially in New York, to
buy a push-cart and sell hot-dogs or pizza or deli sandwiches
...


Making Money, Creating Wealth
By: Philip E
...
The classic American investments have been land and buildings, stocks and
bonds, and precious metals or other commodities
...
In return for the use of your money, you share in the wealth created by their business
...
In exchange for your investment
in the property, they pay you “rent”, which is really a part of the proceeds from the business
they transact inside the building
...
The managers of the business take your money (and pool it with money from
many other investors) and add their organizational and leadership abilities to create a
business
...

Non-investors often think investing is an easy way to make money, but that it requires lots of
cash to get started
...
You can begin investing for less than
$1000, but it does take skill, knowledge and discipline to understand great investments
...

Serious investing is not gambling or a matter of luck
...
They read,
compare one investment with another, and seek expert advice
...

Gamblers, who would never go near a poker game or bet on a horse-race, will nevertheless,
bet on a “hot tip” about a stock, or rush to buy shares of the latest miracle story on wall street
...
Over the years, I’ve observed that
the investors who make the most money, those who routinely get returns of 50% to several
hundred percent on their money year after year, are very cautious
...

Investors like Donald Trump, don’t gamble
...
Important distinction!

Making Money, Creating Wealth
By: Philip E
...
And, much like owning your own
business, the government has traditionally created tax advantages of various kinds to reward
investors for the risks they take
...

It’s often been said that the poor and middle class work for money; the wealthy have their
money work for them
...

And, this reminder that investing is complex and there are risks
...
Consult with experts and develop your skills through
practice and education
...
Start small if that’s appropriate in your situation, but do
let your money work for you
...
Humbert, PhD
© 2000, All Rights Reserved
Page 16

Chapter 7: The 10% Solution
This chapter is about a technique that will allow anyone – yes, I said anyone – to accumulate
substantial wealth
...
Albert Einstein observed that “Compound interest is the 8th wonder of the world
...

So, how do you get rich?
Very simple: Save 10% of everything you make, invest for the long haul, and you will retire
rich
...
The math makes it a sure thing
...
” And, for thousands of years, the vast majority have
complained that they “can’t afford to”, and believing their own complaints and doubts, they
never do
...
To an amazing degree – if you get a calculator and do the math
– it really doesn’t matter
...
But:
start!
The key is consistency and perseverance over time
...
Unfortunately, of course, we
know that most will not only fail to retire wealthy, but will in fact, be quite poor
...
And, they are still alive!
They have food and clothing, a roof over their heads, and shoes on their feet
...

To pay off your debts or to increase your savings, you are going to have to spend less each
month
...
But, over and over

Making Money, Creating Wealth
By: Philip E
...
That old advice simply means that before you pay any other bills,
even the mortgage, you put money in savings first! There’s a simple logic to this
...
You must do that on your
own, as an act of self-discipline and personal pride
...
Trust me on this!
If you forget to pay the phone company, they will remind you! They’ll send you a note, they
might even call you up to remind you
...
But none of them, not a single
one, will ever advise you to pay yourself
...
And, it should
go without saying, but I’ll mention it anyway: once you put the money in savings, it never –
never – comes back out! That is for retirement
...

If you want to save for a vacation or a new car or your kids college, that is in addition to the
10%
...
If you save, and then spend it all, what’s the
point? Save 10% of everything you make and be very, very reluctant to ever take it back out!
If you save 10%, within a very short period of time you’ll have to make some decisions about
where to invest it
...

Depending on your tax bracket, the “after tax, real rate of return” of paying off an 18% credit
card debt can be as high as a 30% annual rate of return! You won’t get that good a return
anywhere else! Pay off your debts!
Then, invest in the stock market through mutual funds
...

Yes, you should invest in tax-sheltered retirement plans first, and yes, there are other
investment possibilities
...
But to retire wealthy, pick a
great, long-term growth fund, invest regularly, and watch the system work for you
...
In this instance,
boring is good!

Making Money, Creating Wealth
By: Philip E
...
In fact, by most measures, the stock market has
made more people more money, and done it more reliably, than any other investment over the
past 75 years! If you want to accumulate substantial wealth, you must include stocks in your
investments!
But, most people who “invest” don’t study the market
...
That’s where mutual funds come in
...

Here are my Top 10 reasons to invest in mutual funds:
1
...
You can select from thousands of funds (you’ll find one to suit your needs)
and you can get information on them easily
...

Most credit unions have information, and your local library is a goldmine – and there’s the
Internet
...
Start Small
...
I’ve spent more than that
in a restaurant!
3
...
You deposit 10% of your income every month
...

4
...
I don’t always have time to research, select, and monitor
individual stocks
...
A good fund
manager will make you rich!
5
...
Depending on what index you pick, the U
...
stock market has gone
up an average of over 12% per year for the past 10 years, and it’s been almost that high
for the past 20 years
...
Dollar-cost-averaging
...

Your “average cost” will always be less than the “average price” you paid! And that is
money in your pocket!

Making Money, Creating Wealth
By: Philip E
...
Diversification
...
If one stock
goes down, hopefully dozens of others will go up
...

8
...
If you prefer, and if you do the research, there are funds that invest in
only a very small number of companies
...
This creates the potential for even greater profits if you select the right industry,
but be aware it also brings greater potential risk
...
Fund “Families”
...
They make it easy to move your money
between funds, so as your goals change, you can adjust your investments with a quick
phone call, or on the Internet
...
Momentum
...
Once you have money “in
the market”, you’ll track it, manage it, and in all probability, your desire to save will
increase
...

There are risks and there can be costs to investing in mutual funds, so be sure you read the
prospectus and understand the details before you invest
...
But get started! For almost everyone, regular deposits to a long-term growth mutual
fund is the sure, simple and reliable way to get rich! But you must: start!

Making Money, Creating Wealth
By: Philip E
...
This chapter will cover the more routine, every-day things that
impact almost all of us
...

Most of us lose what we make in one of four basic ways:
1
...
We pay too much in taxes
3
...
We don’t have an appropriate Will or Living Trust
#1: The Leaky Bucket
Almost all of us spend more in cash and with credit cards than we imagine
...

Keep a notebook, and just for a short time, try to track every single dollar you spend
...

If you spend just $5 per day on lunch, that’s over $100 per month
...
Take the kids, and Saturday afternoon at the movies can shrink
your wallet in a hurry!
Now, none of these are bad things
...
But, if you want to control your finances, you must add these things up, tell the truth
about how much they cost, and make some decisions about how many of them you can afford
...
That means
that a $10 pizza actually costs you about $18 in time and effort, about $8 for the government,
with $10 left for the pizza guy
...
Most do not own expensive
watches, fancy cars or expensive suits
...
Humbert, PhD
© 2000, All Rights Reserved
Page 21
Here are some simple suggestions that can save you hundreds of dollars per year:
n Keep a simple notebook and record every purchase
...

n Rent movies, make popcorn at home
...
Eating an apple instead of a candy bar saves in many ways
...
Always shop from a list, and never go
to the grocery store when you’re hungry!
n Comparison shop for insurance
...
Installing smoke detectors is smart, and will save on home-owners
insurance
...
Annual costs for
vehicles and transporation are typically far greater than most people realize
...

The examples are endless, but the point is the same
...

That may not be fair, but it’s the way the system is designed
...

Begin by learning the distinction between tax avoidance, and tax evasion
...
You’ll eventually be audited, get caught and have a world of headaches
...
Don’t do it!
But tax avoidance is not only legal, it’s recognized by the Courts as smart and ethical
business
...

Contribute the maximum to any IRA or Keogh accounts
...

n Look for ways to reduce your personal property tax
...

n Understand the benefits of capital gains taxes, and invest for the long haul
...
The
interest on many municipal bonds is partially or entirely tax free! Look into it
...
That’s an amazing statistic! And yet, disability income
insurance is one of the least understood and least appreciated forms of insurance
...
Humbert, PhD
© 2000, All Rights Reserved
Page 22
you’re healthy, contact your local agent and find out about guaranteeing your income if you
become injured or suffer a lengthy illness
...

Almost everyone has either too little, or too much
...

Consult with at least 2 difference independent insurance agents, and get solid advice
...
Become informed
...

You can often save hundreds, even thousands of dollars by shopping around and buying the
right insurance
...

#4: Have a Will and a Living Will
There has been much written in recent years about various forms of trusts and other forms of
estate planning, so the term “will” in the title of this section is used generically to indicate that
you have taken responsible, thoughtful steps to pass on your wealth when you die
...
The state has written
one for you
...
If you die without having written your own will, that’s
OK – the Courts will simply use the one the government wrote for you
...
Is a basic will adequate and complete in
your situation? Maybe not, but it’s a start, and it’s a whole lot better than nothing
...
Estate taxes can run as high as
80%
...
Humbert, PhD
© 2000, All Rights Reserved
Page 23
n Decide in advance who you want to receive the bulk of your estate, and be very
specific about the details
...
Spell it out!
n Consider the ramifications if you and your spouse should both die, perhaps in an
accident or other disaster
...
There are very important tax advantages to setting this up
ahead of time
...

Finally, a note about “Living Wills”
...
Most probably, you will grow old, get sick, and for at least a short
time, you will be unable to participate in decisions about your own health care
...
Tell your loved ones what you want! Indicate if you wish to be an
organ donor
...
Decide now, and write it down!
Most self-made millionaires have neither a large income, nor a flashy life-style
...
Paying attention to the costs of your
lifestyle, and simplifying where you can, makes a huge difference
...
An entire
movement, often referred to as the “Voluntary Simplicity” movement has discovered the joys
of being home more, working less, spending less and throwing away less
...


Making Money, Creating Wealth
By: Philip E
...

We live in a world of opportunity, and yet most Americans are buried in credit card and other
debt
...

If you can read this, you are literate, have a computer, you are part of the "wired generation"
...
Here are the Top 10 keys to
your financial success:
1
...
This is different than wishing, hoping, wanting or
even desiring to be rich
...

Have you decided to achieve this goal?
2
...
Most of us never studied finance or investing in school
...
Read
...
Take classes
...
Master your relationship with money
...
Some of us are addicted to spending, and some of us are just careless about it
...
Use it wisely!
4
...
They should be challenging, but not unbelievable, just out of reach but
not out of sight
...
Make a commitment
to saving an exact amount each month
...
Develop a budget
...
It's how you really, really
want to use money to benefit your family and run your life
...
A
budget is a map to your destination
...
Reduce spending
...
Most self-made millionaires live far below their means! You
should too
...
Begin investing
...
Both are roads to disaster! Invest in
things you understand
...
The objective is not to
"make a killing", but to get rich over time
...


Making Money, Creating Wealth
By: Philip E
...
Increase assets
...
Making
more money means paying more taxes
...
And, when wealth
arrives in the form of cash, it's easier to spend
...
Reduce taxes
...
The wealthy know there are legal and
appropriate ways to shelter income, to invest in socially-responsible ways, and that the tax
code encourages this
...
Use your wealth wisely
...
" Give
...
Help others
...
Being greedy and selfish
will not draw money to you
...
Two of the best are: "The Millionaire Next Door" by Thomas
Stanley and William Danko, and "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon
Lechter
...

Even if you start working as late as age 30 (after college and a few years of kicking around
looking for your niche) and plan to retire a few years early, say at age 55, and assume your
average income is $50,000 per year, during those twenty-five years you will earn 1
...

Where does the money go? That is entirely up to you! As many observers have noted,
millionaires don’t necessarily earn more, but they spend less
...

They live well, but they do not spend on items that depreciate, or on frivolous items to
impress their friends
...
They take money
seriously
...
They value money, and they pay attention to it
...
They accumulate and they let it work for them, rather than always working
for money, from one paycheck to the next
...


Making Money, Creating Wealth
By: Philip E
...
We’ve talked at great length about what money represents
and how it works
...
We’ve talked about taxes and where money tends to “evaporate”
...
Like many other books on money and
investing, much of what we’ve covered is understandable
...

Because the greatest secret of accumulating wealth is this: It is not a secret!
There are books on it
...
They will coach you, they
will respect and admire and encourage you
...
They will sell you a franchise or an apartment building
...
Most of us know this
...
Just as Madison Avenue intends, we are tempted by the
advertising, by our children’s “need” for the latest clothes, toys and gadgets
...
And next month,
we are in the same financial spot we were in the month before
...

So, it doesn’t surprise me that much of what you have read sounded familiar
...
And, like so many other books on money and investing, you
can easily set this down, pat yourself on the back for how much you know and how smart you
are, and take no action! If that happens, I have wasted my time in writing this, and you have
wasted your time reading it
...
Everyone who reads this
will be in a different place, with different values and different financial responsibilities
...
The list on the
next page starts at the very beginning
...
Check them off, and get to work!

Making Money, Creating Wealth
By: Philip E
...
If not, write
the words, “Do This!” and
put a date by which you
will complete this step
...
Become the best educated person I know about money
and creating wealth
Have my “Performance Team” in place, including at least: an
attorney, accountant, financial advisor, and insurance agent I
know and trust
Use my knowledge and skill, and the advice of my Team, to
invest in things I understand and can monitor over time
For myself and my family, an additional action step I will take
is:
For myself and my family, an additional action step I will take
is:
For myself and my family, an additional action step I will take
is:

Making Money, Creating Wealth
By: Philip E
...
It never is
...
In the story, he was given the blessing of a dream that fore-told his
future, and having seen where he was headed, he changed his direction!
In a more modern version, the movie “Jerry McGuire” created the famous line, “Show me the
money!”, but in the end, the Tom Cruise character walked away from the money in favor of
love, ethics, and friendship
...
Money is a number that represents your contribution, your effort and your skill
...
Yes, you might buy nice
toys, a big house, or take some fancy trips around the world, but of what use is that?
Life is meant to be invested
...
I want
to cast a long shadow, to leave footprints in the sand where I have walked
...

There are as many ways to contribute as there are people
...
Some will create jobs or build homes and apartments, others contribute to
charitable foundations or create educational scholarships
...
Others mentor children,
or invest in struggling young businesses to help them grow
...

Whether you refer to it as God or the Universe or just as Life, there is something that does not
want you to be poor
...

We will not all control vast fortunes, but we all have the ability, and the response-ability, to
accumulate wealth
...
Humbert, PhD
© 2000, All Rights Reserved
Page 29

Bibliography
Here are several of the books that have been most helpful to me, along with a link to their
page at Amazon
...
I am absolutely convinced that a library of books and periodicals on
investing, money and time management are one of the best investments you can make
...
You do need one that motivates and gives you the confidence to
take action
...
Read them
...
Talk about them with your friends, and read
the books they recommend
...
You can’t win, if you
don’t enter!

The Wealthy Barber, by David Chilton
This is, without a doubt, the best book on personal finance and getting started that you’ve
never heard of
...
Particularly if you are just getting started, this is fun, educational and
intensely practical
...
amazon
...
Stanley, William D
...
My question: While it made the
authors rich, how many of the people who bought it, have used the information to get rich
themselves? There is tremendous wisdom, common sense and power here
...
amazon
...
I found it very helpful, particularly with understanding the roles of insurance,
savings, and planning for a solid financial foundation
...
amazon
...
Many of us sabotage ourselves when it comes to
money, and this book can help!
http://www
...
com/exec/obidos/ASIN/1573221252/philiphumbert

Making Money, Creating Wealth
By: Philip E
...
Not the best writing in the world, but incredibly
valuable ideas! This book belongs in your library!
http://www
...
com/exec/obidos/ASIN/0964385619/philiphumbert

Cashflow Quadrant, by Robert Kiyosaki & Sharon Lechter
This is the sequel to “Rich Dad, Poor Dad” and continues your basic financial education about
how to manage money, understand cash flow, taxes, investments and business so that you can
play the game to win
...
Buy it!
http://www
...
com/exec/obidos/ASIN/0964385627/philiphumbert

The Motley Fool Investment Guide, by Tom & David Gardner
This pair of brothers have become a cottage industry in helping individuals master the art of
profitable investing! On their radio show, website and in their book they advocate a simple,
no-nonsense approach that anyone can master
...
amazon
...
But I
respect him even more for his books that help average folks learn to invest and follow in his
footsteps
...
amazon
...
I strongly urge you to buy, read,
and study this book! It’s “only” a simple little story, and you can read it in an afternoon, but
if you understand it, and take action, this delightful book will make you rich
...
amazon
...
Humbert, PhD
© 2000, All Rights Reserved
Page 31

Final Notes
Many friends and readers of this book have encouraged me to add some closing notes about
(1) making money, and (2) my work and the services I offer
...
Pay off any debts, and live within or below your income
...
The odds of winning the lottery or picking a stock that will make you rich
are insanely remote
...

2
...
Talk to professionals at your bank or brokerage, and to your
accountant and other advisors
...
S
...
Get involved!
3
...
Talk with insurance professionals, and make sure you have the
right coverage, in the right amounts
...
It will save you money and give you
peace of mind
...

Anyone can subscribe by visiting my website at: http://www
...
com We
have over 11,000 subscribers, it’s very popular and I’m very proud of it
...
Help yourself! Again: http://www
...
com

•

I love doing public speaking and present regularly as a keynoter, at Rotary, Chamber
of Commerce and other groups, and to the leadership of MLM organizations
...
People enjoy it, and I’m told my talks make a
difference in people’s lives, and in their performance
...
com

•

And, I coach individuals for peak performance and total success
...
philiphumbert
...
com



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