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The Debt Millionaire : Most people will never build real wealth. Now you can be one of the few who do.
This book introduces the reader to a very powerful and different perspective; a completely new method of investing that is built to allow the investor to meet their financial goals, automatically, and it's backed by numbers!
- GenresFinance
186 pages, Paperback
Published November 15, 2017
56 people are currently reading
114 people want to read
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Displaying 1 - 11 of 11 reviews
February 24, 2017
A good book on the impact of inflation, taxes, opportunity cost, and interest. The main thrust of this book is presented as follows: There are two sides to every financial equation, the left side (the *paying *side) and the right side (the *receiving *side).
According to Antone, most people are on the left side of the equation, and they stay there all their lives. The wealthy have moved to the right side of the equation. The sooner we can move to the right side of the wealth equation (the *receiving *side), the sooner we can benefit from that side. Antone mentions that the right side benefits from interest payments and inflation, and they lower their taxes while minimizing the opportunity cost of their cash. While those on the left side of the equation suffer from all four of those financial “forces.” The *way* to move to the right side of the equation, is by using DEBT. He differentiates between good debt and bad debt, and states quite plainly that it is very difficult (if not impossible) to beat inflation and taxes without using it. He says most people are concerned with finding the *right *asset, but they should instead be concerned with finding the best financing. This will increase their wealth much quicker and with less risk.
He talks a little bit about the *Family Bank, *which he highly encourages, but doesn't spend a lot on it because he has a whole book on the topic (*The Bankers Code). *He doesn't mention Whole Life as a banking vehicle directly, but he does mention it as an “advanced strategy” indirectly in multiple locations.
My biggest frustration with the book was that he references his previous book *The Wealthy Code* too frequently in the later sections of the book, and there are a couple key points that he doesn't explain at all. He only references the other book, and assumes you will read it, if you haven't already. I'm tempted to buy the book just for those two key points (Wealth pair, and Equity pair).
According to Antone, most people are on the left side of the equation, and they stay there all their lives. The wealthy have moved to the right side of the equation. The sooner we can move to the right side of the wealth equation (the *receiving *side), the sooner we can benefit from that side. Antone mentions that the right side benefits from interest payments and inflation, and they lower their taxes while minimizing the opportunity cost of their cash. While those on the left side of the equation suffer from all four of those financial “forces.” The *way* to move to the right side of the equation, is by using DEBT. He differentiates between good debt and bad debt, and states quite plainly that it is very difficult (if not impossible) to beat inflation and taxes without using it. He says most people are concerned with finding the *right *asset, but they should instead be concerned with finding the best financing. This will increase their wealth much quicker and with less risk.
He talks a little bit about the *Family Bank, *which he highly encourages, but doesn't spend a lot on it because he has a whole book on the topic (*The Bankers Code). *He doesn't mention Whole Life as a banking vehicle directly, but he does mention it as an “advanced strategy” indirectly in multiple locations.
My biggest frustration with the book was that he references his previous book *The Wealthy Code* too frequently in the later sections of the book, and there are a couple key points that he doesn't explain at all. He only references the other book, and assumes you will read it, if you haven't already. I'm tempted to buy the book just for those two key points (Wealth pair, and Equity pair).
April 3, 2018
Great book
Easy to understand, but new (for me) concepts. Great book. I learned a lot of it. I am waiting for the next one.
Easy to understand, but new (for me) concepts. Great book. I learned a lot of it. I am waiting for the next one.
November 16, 2018
Super Simple
Anyone can do it. There are numerous ways you can do it. This is actually how you become a millionaire/billionaire. It's all about leverage.
Anyone can do it. There are numerous ways you can do it. This is actually how you become a millionaire/billionaire. It's all about leverage.
May 19, 2019
It's good information but not the best written book. It also constantly refers to his other two books, so I'd suggest just reading those and then moving on to this one after if you're interested.
November 13, 2019
Great book
Fabulous book for those who want to start enjoying their lives. The financial game is possible to win but you must have a strategy. This book gives you ideas
Fabulous book for those who want to start enjoying their lives. The financial game is possible to win but you must have a strategy. This book gives you ideas
October 20, 2020
Debt made clear
Good book to understand debt and how to use it.. Good read for a beginner, better for someone looking to bridge knowledge from different methods.
Good book to understand debt and how to use it.. Good read for a beginner, better for someone looking to bridge knowledge from different methods.
July 1, 2021
Debt is Good
This book does a great job in explaining how debt should be viewed and used in building wealth. Family Bank concepts are introduced as well.
This book does a great job in explaining how debt should be viewed and used in building wealth. Family Bank concepts are introduced as well.
January 4, 2024
Very interesting stuff and a nice, overall quick read. Helps change the perspective on money
July 8, 2016
Grateful for knowing.
I want to begin by saying that I'm very grateful for just knowing how much this man "George" cares for other human beings. I felt his lost when I read about Emile and tears came to my eyes. I always admire men who give more then they receive.
Thank you for teaching me about Good Debt and how to manage it.
I can't wait to get to the Debt Millionaire workshop this year!
I want to begin by saying that I'm very grateful for just knowing how much this man "George" cares for other human beings. I felt his lost when I read about Emile and tears came to my eyes. I always admire men who give more then they receive.
Thank you for teaching me about Good Debt and how to manage it.
I can't wait to get to the Debt Millionaire workshop this year!
January 31, 2023
Some good ideas, but not as good as the Wealthy Code. In fact, the Wealthy Code is probably the only one I’ll thumb through again.
Read this again and got more out of it.
Read this again and got more out of it.
January 28, 2025
Incredible book that induces the reader to think about debt in a different way.
Displaying 1 - 11 of 11 reviews