The Wealthy Barber review

"The Wealthy Barber: Everyone's Common-Sense Guide to Becoming Financially Independent" by David Chilton is an enjoyable read that introduces basic personal-finance habits that can lead to wealth if practiced and implemented as taught.

The lessons are taught in story fashion by a "wealthy barber" named Roy to a few disciples over a few weeks of visits. The lessons are basic, but that does not mean they are not important. In fact, for many people, these basics are all they will need to better their finances while preparing for a better financial future. This book will not prepare you to become the next Warren Buffet, nor will you be a market genius. There are many more things you can learn on this subject as well, but this book is a nice little primer. Some of the dialog between the characters is a bit corny, if not irritating, but then you can also look at it and laugh at Chilton's use of light humor to teach important topics.

As I mentioned, the lessons are basic, but they are sound. The strategy of paying yourself at least ten percent of your pay first is not new, and is taught in many ways by many people. That does not make it less important, and most people would be better off if they implemented it. I also liked that there was discussion on wills, life insurance, and responsibility. Pointing out that some people do not need certain types of insurance is as important as pointing out that some people do.

We have all heard that social security may not be around in the future. And those receiving only social security now are barely making due. It is in all of our best interests to plan for retirement. The lessons taught in this book serve as a good reminder of things we should be doing and looking at, and hopefully will encourage many people to start planning and seek out more information on this important topic.

While "The Wealthy Barber" won't teach you the path toward the Forbes 400 list, it does provide some excellent basic advice on personal finance. Considering the debt that many have, combined with the lack of savings, compounded by the dim outlook for social security, following the advice of this simple little book could make a huge difference in many people's financial futures. I recommend it highly for anyone that needs a head start on planning for their future. I also recommend it for those that want a quick enjoyable read on some basic financial strategies to motivate you to learn more.

Reviewed by Alain Burrese, J.D., author, speaker
Hard-Won Wisdom From The School of Hard Knocks, Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, and The Lock On Joint Locking series, and articles including a regular column on negotiation for The Montana Lawyer

The Leadership Genius of Abraham Lincoln by Tony Alessandra

President's Day, February 18, was also my birthday this year. I celebrated by spending time with my family. In honor of this day, I'd like to share an article by Tony Alessandra on Abraham Lincoln. I'm sure you will gain some valuable insights from Tony's article. - Alain


Abraham Lincoln really was born in a log cabin. The fact that he went on to become President -- and to lead the country through the most difficult period of its history -- is truly remarkable. It's even more amazing when you consider what it took to be an important leader in the middle of the nineteenth century. Although we hear a lot about people like Lincoln or Andrew Jackson or Ulysses S. Grant -- people who came from nothing to wield great power -- these were most definitely the exceptions who proved the rule. And the rule was, most successful people started out with all the advantages.

Financially, it was much harder to get rich a hundred and fifty years ago than it is today -- and if you failed, it was much harder to get back on your feet. There was no safety net from the government or from anywhere else to make sure that you didn't go hungry. In those days, it was every man for himself.

With that in mind, let's look for a minute at some of the things that Lincoln faced and overcame. You've probably seen lists similar to this, describing Lincoln's failures, but I'd like to go through it again in order to make some important points, which we'll take up immediately after the list. As you're listening to this list, I'd like you also to think of setbacks you've faced in your own life, and how you responded to them.

In 1832, Lincoln was working in a general store in Illinois when he decided to run for the state legislature. But the election was some months away, and before it took place the general store went bankrupt and Lincoln was out of a job. So he joined the army and served three months. When he got out, it was almost time for the election -- which he lost.

Then, with a partner, Lincoln opened a new general store. His partner embezzled from the business, and the store went broke. And shortly thereafter the partner died, leaving Lincoln with debts that took several years to pay off.

In 1834, Lincoln ran again for the state legislature, and this time he won. He was even elected to three more terms of two years each. During this period, however, Lincoln also suffered some severe emotional problems. Today he would have been categorized as clinically depressed.
By 1836, Lincoln had become a licensed attorney. At that time, a law degree was not required to pass the bar exam, and Lincoln had been studying on his own for years. He later became a circuit-riding lawyer, traveling from county to county in Illinois to plead cases in different jurisdictions. He was one of the most diligent of all the lawyers doing this kind of work, and between 1849 and 1860 he missed only two court sessions on the circuit.

In 1838, he was defeated in an attempt to become Speaker of the Illinois legislature, and in 1843 he was defeated in an attempt to win nomination for Congress. In 1846 he was elected to Congress, but in 1848 he had to leave because his party had a policy of limiting terms. In 1854, he was defeated in a run for the U.S. Senate. In 1856, he lost the nomination for Vice President, and in 1858 he was again defeated in a race for the Senate. Yet in spite of all these setbacks, in 1860 he was elected President of the United States.

What can we learn about leadership from looking at this chronology? To me, the most remarkable thing is how every time Lincoln failed at something, he was soon trying for something even bigger. When he loses his seat in the state legislature, he runs for the national congress. When he loses a bid for the Senate, he tries to become vice president -- and when he loses the Senate race again, he winds up President of the whole country.

Lincoln saw himself as a leader long before anyone else did -- and this is the first key to his leadership genius. He may have failed many times, but somehow he always failed upward. He was propelled by a sense of mission, and he was willing and able to do whatever it took to get that great mission accomplished.

From the very first, Lincoln saw himself as the savior of the country. Not just as a successful lawyer or a judge or the owner of a general store. To him, all those things were way stations on the way to something much bigger and more important. Lincoln saw himself as a leader long before he was one. In fact, he saw himself as the leader, right from the first. This wasn't arrogance or empty ambition. It was a sense of ultimate purpose in service of a worthy cause.

How can you bring that sense of mission into your own life? What are your big, worthy dreams? Are there are goals that you recognized from the first, which you've continued to pursue no matter what setbacks have intervened? If that's the case, then you're already a leadership genius -- you've already mastered the art of leading your life in the direction you want it to go.
On the other hand, you may be one of the many people who have put aside any ideas about changing the country or the world. That's fine -- but I do want to repeat the question I asked a moment ago: What are your big, worthy dreams? And I want to emphasize worthy.

Having a big car or a boat doesn't count. Those things are great, but can you see the difference between wanting material success and wanting to make a truly big difference in the world, the way Lincoln did? It's the difference between just being successful for your own sake, in very conventional terms -- and being a leadership genius, not just for yourself, but for other people too. In Lincoln's case, it was for all people.

Think about your life in terms of a mission - a great purpose that inspires you to leadership -- first leadership of yourself, and then of others. If you've identified that purpose, the next step is thinking practically and realistically about how you're going to bring it about. And sometimes the practical side has to be dealt with first, in order to make the larger purpose feasible.

Is there anything about yourself that you suspect might disqualify you from being an effective leader? What are they? How can you turn these perceived weaknesses into your strengths? It's tempting to think that our leaders should be without weaknesses, but that's by no means the truth. Leaders should not be without weaknesses that they're unaware of. Leaders should not be out of touch with what's going on in their minds and hearts. That awareness in itself is much more important than what challenges it reveals. These are questions that will take more than a few minutes to answer -- but I urge you to reflect on them to improve your leadership genius.

Here's to more insight,
Tony Alessandra


Reproduced with permission from the Ron White Ezine. To subscribe to Ron White's Ezine, go to http://www.memoryinamonth.com or send an email with Join in the subject to ronwhite@yoursuccessstore.com Copyright 2008 All rights reserved worldwide.

Getting Rich Your Own Way by Brian Tracy - a review

Getting Rich Your Own Way by Brian Tracy is a solid text on succeeding in your financial matters. With the advice Tracy gives in this book, the reader can create a road map to financial success. With some hard work and sweat, the reader can achieve success from that road map.

Over the years, I've enjoyed many of Tracy's books and audio programs. I've also enjoyed seeing him speak on dvds a time or two as well. I found this book especially insightful into what it takes to achieve fortunes, or as the title says, get rich.

Do not misstate this book for some get rich quick scheme. In fact, Tracy states that it may take patience and it will certainly take effort. But if you have the right attitude and are willing to do what it takes, Tracy's advice and guidance in this book will help you along your way to riches beyond what you currently have obtained.

The book starts with a very motivating introduction where Tracy covers topics such as the difference between success and failure, starting with nothing, how you can do it, the differences between rich and poor and the encouragement that you can learn what you need to learn.

The book then has ten chapters that cover the following topics:

1. Learn How to Become Rich: Why people don't become rich, five ways to stay poor, five ways to become rich, definition of wealth, find a need and fill it, big fortunes and small ideas, one idea is all you need, maximize your assets, and become a no-limit person.

2. Become a Money Magnet: Change your thinking, change your life, all causation is mental, expect the best, become a living magnet, as within, so without, the laws are neutral, what you put in determines what you get back, negative thinking drives money away, think like the rich think, settle in for the long haul, learn what you need to learn, the great truth, you will see it when you believe it, resolve to pay the price, not for everyone, get serious, take charge of yourself, you must want it badly enough, your reasons why, make your goals specific, think long-term, give yourself a raise, the magic of visualization, control you inner dialogue, practice affirmations, you can do it, feed your mind with mental protein, get around the right people, sleep on it, imagine your ideal life, the golden hour, million-dollar habits, the rudder of the day.

3. Invest for Success: The financial planning school, invest the way the wealthy invest, your own business, income-producing real estate, land held for development, liquid investments, stocks and bonds, investment alternatives available to you, where to put your money conservatively, investing in the stock market, mutual fund investing, different ways to invest, and guard your money carefully.

4. Start with Nothing: The golden chain, the statistics are dreadful, four steps to financial success, five ways to become wealthy, the starting point of riches, pay yourself first, work hard and save your money, attract the money you want, starting with nothing, pleasure and pain, the wedge strategy for financial success, don't lose money, strategies of the wealthy, change your personality, the truth about entrepreneurship, reasons for business failure, business success is predictable, get on-the-job experience, learn while you earn, five keys to business success, use your job as a springboard, do your research, practice the 10/90 rule, study successful companies, five rules for entrepreneurship, network marketing opportunities, money in your mailbox, get wired, start small, trade time for experience, seven steps to business success, be action-oriented, take a chance, and seven steps to financial independence.

5. Build Your Own Business: The failure rate is high, seven principles for business success, the factor of three, questions you must ask and answer to succeed in business, the great marketing questions, getting into the game, test your idea before you invest, fast, cheap market research, test-market your product or service, how to build a profitable business, and business opportunities are everywhere.

6. Market and Sell Anything: Marketing and sales defined, the marketing mix, five rules for selling anything, anywhere, five questions you must answer, selling your product or service, multiple ways to sell, start small, grow slowly, master the art of selling, control the revenues, opportunity gap analysis, getting free publicity, opportunities everywhere, and just do it.

7. Get the Money You Need: Ignorance holds you back, lack of money, money is available everywhere, determinants of credit, choosing the ideal business for you, and you can start today.

8. Think and Grow Rich: You are a potential genius, why creativity is so important, use more of your intelligence, multiply your results, as within, so without, stimulate your thinking, the qualities of genius, thinking more creatively, ways to get rich your own way, clarity is essential, and evaluating your ideas.

9. Learn From the Best: Copy the best in your business, qualities of the great ones, think like a champion, follow the leaders, the qualities of leadership, find your own acres of diamonds, become an apprentice, rent or buy the knowledge you need, ask for advice, study successful companies, and learn by trial and error.

10. Lead the Field: Three pathways, the common denominators, secrets of health, wealth, and happiness, put your career onto the fast track, and become a no-limit person.

As you can see, this book covers a lot of area. And not ever area may apply to your situation, but I'm sure you will find advice and suggestions by Tracy that if applied will better your financial future. Additionally, the ideas presented in this book may help you think of things you have never thought of before, or maybe in ways you haven't thought of yet. Most of all, the motivation and practical advice found in this book should get you working toward your financial goals so you can live a better life and enjoy more than before.

Additionally, this book is not the be all and end all regarding the above topics. But it gives a good overview and it will point out the areas that will help you most and you can then find resources that go deeper into the topics that you most need to learn. This is an excellent introduction to wealth, and contains many proven strategies for success. The only thing is that you have to act on the information provided, and if you do, you can't help but be more successful.

Reviewed by Alain Burrese, J.D., author, speaker Hard-Won Wisdom From The School of Hard Knocks, Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, and The Lock On Joint Locking series, and articles including a regular column on negotiation for The Montana Lawyer