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    The Millionaire'$ Manual (A Workbook for Wealth)
    The Millionaire'$ Manual (A Workbook for Wealth)
    The Millionaire'$ Manual (A Workbook for Wealth)
    Ebook127 pages1 hour

    The Millionaire'$ Manual (A Workbook for Wealth)

    By Paul E. Vogelgesang

    ()

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    About this ebook

    In plain English, the author explains what it took to become a "self-made
    millionaire" before the age of 40. Not by means of a trust fund, large
    inheritance or winning the lottery, but by using basic investing techniques, a
    good financial team and some risk in starting a business and purchasing parcels
    of real estate. This will be explained in his focused, prove and simple to use workbook for wealth. He takes you through 105 steps his readers need to consider in preparing for their own wealth building. His "dos"and "don'ts" cut straight through the mystery most readers have regarding insurance goal setting, basic spending, investing, taxes, starting a business, real estate investments and retirement planning. His ideas can be utilized each year in annual family financial meetings or for a lifetime!
    LanguageEnglish
    PublisherTrafford Publishing
    Release dateDec 20, 2005
    ISBN9781412233217
    The Millionaire'$ Manual (A Workbook for Wealth)
    Author

    Paul E. Vogelgesang

    Paul E. Vogelgesang is a former registered investment advisor, private placement conservator of the estate, and property/casualty insurance broker. Born in Indianapolis, Indiana, he graduated with two degrees from Indiana University-Bloomington and received his Masters in Management from Webster University-St Louis. He currently resides in Orange County and Lake Arrowhead, California. Mr. Vogelgesang is currently writing two sequels to his "Millionaire" series books involving real estate and retirement planning.

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      Book preview

      The Millionaire'$ Manual (A Workbook for Wealth) - Paul E. Vogelgesang

      THE

      MILLIONAIRE’$

      MANUAL

      © Copyright 2005 Paul E. Vogelgesang

      All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the written prior permission of the author. This publication is designed to provide basic, impersonal and limited personal finance information in regard to the dated subject matter covered. It is sold with the understanding that the author and publisher are not engaged in the solicitation, meeting or communicating with any clients or the rendering of any legal, accounting, investment, stock advisory, professional service or any other advice. If legal, accounting, regulated financial advice or other expert assistance is required, the services of a competent, licensed professional person should be sought. Because of differences in various states and countries where this publication may be read (or book signing may be held) and the ever changing tax codes and other variances; this book and its contents are sold without warranties or guarantees of any kind expressed or implied. An officer of a corporation and not in the capacity as an individual researched and wrote this intellectual property. In addition, the author and publisher disclaim any liability, loss or damage caused by the contents/opinions of this book or its interpretation, or other use by any reader(s).

      Note for Librarians: A cataloguing record for this book is available from Library and Archives Canada at www.collectionscanada.ca/amicus/index-e.html

      ISBN 1-4120-5128-2

      ISBN 978-1-4122-3321-7 (ebook)

      Image362.JPG

      Offices in Canada, USA, Ireland and UK

      This book was published on-demand in cooperation with Trafford Publishing. On-demand publishing is a unique process and service of making a book available for retail sale to the public taking advantage of on-demand manufacturing and Internet marketing. On-demand publishing includes promotions, retail sales, manufacturing, order fulfillment, accounting and collecting royalties on behalf of the author.

      Book sales for North America and international:

      Trafford Publishing, 6E-2333 Government St.,

      Victoria, BC v8t 4p4 CANADA

      phone 250 383 6864 (toll-free 1 888 232 4444)

      fax 250 383 6804; email to orders@trafford.com

      Book sales in Europe:

      Trafford Publishing (uk) Ltd., Enterprise House, Wistaston Road Business Centre,

      Wistaston Road, Crewe, Cheshire cw2 7rp UNITED KINGDOM

      phone 01270 251 396 (local rate 0845 230 9601)

      facsimile 01270 254 983; orders.uk@trafford.com

      Order online at:

      trafford.com/05-0023

      10 9 8 7 6 5 4 3

      Contents

      PREFACE

      CHAPTER 1

      CHAPTER 2

      CHAPTER 3

      CHAPTER 4

      CHAPTER 5

      CHAPTER 6

      CHAPTER 7

      CHAPTER 8

      CHAPTER 9

      CHAPTER 10

      CHAPTER 11

      CHAPTER 12

      CHAPTER 13

      CONCLUSION

      ABOUT THE AUTHOR

      PREFACE

      I’m a MILLIONAIRE. Ah…the sweet sound of that phrase. Isn’t that the sentence everyone wants to use or at least acknowledge in his/her mind? You see it daily on TV, read about it in all the newspaper and magazine success stories, and dream about the cash when entering the Lotto. Isn’t it deep down one of the true gauges of success? You’ve arrived. you’ve made it!

      Close your eyes for a minute…can’t you dream what it would be like? Immediately quit your day job? Have the house and live in the gated neighborhood you drive by or want to drive through? Buy the cars, vacations, clothes, jewelry you window-shop for? How about sending your kids to private schools rather than public ones? Get that college degree you’ve always wanted but had no time or money? Or better yet, how about the freedom to wake up in the morning and know YOU will dictate your time that day rather than someone else (i.e., Boss). How about running your own small business or pursuing a hobby you’ve only dreamed of? Isn’t that what MILLIONAIRES really do?

      When I was seven years old, I knew that I would be wealthy some day. I didn’t know what a MILLIONAIRE was, but I had a pretty good idea what money was and its importance. After all, I had $7.00 in my bank savings account making 1% interest! That was big money for a mid-western kid growing up in 1962. Matinee movies were 15 cents and candy bars sold for a nickel each. I knew the value of my two-quarter allowance, and saved all I could while my friends spent all of their allowance on comic books. Our family lived in a quiet, middle class Indiana suburb and drove Chevrolets. We went to public schools and walked to grade school and then high school. I knew my parents were not very affluent, but we had nice clothes, ate well, and had the biannual vacation. So why did I think I would ever be wealthy or even a MILLIONAIRE?

      Before I answer that, let’s go over some creative financial labels (and the misperceptions). Who are these people with money, and are they really by definition Millionaires?

      #1 THE QUIET WEALTHY ONES

      These are generally families with a net worth estimated in the $2—9 million range. They likely did not inherit their wealth and are mostly middle-aged. One or both spouses may be employed, probably college educated and most likely self-employed with significant equity in their own business(es). Their finances are on autopilot and they don’t flaunt their wealth. You can find examples of these families in all parts of the United States. They generally live very quiet, unpretentious lives, maybe even in your current neighborhood.

      #2 THE RICH (As in Filthy Rich)

      This is sometimes a synonym for wealthy but these people have much, much more. These are the Rockefeller and Gates families of the world. These people are not Millionaires; they are Billionaires! Money is a simple instrument or commodity for them, and their tidal pool is overflowing. Wealth management is their biggest obstacle, especially as they age and begin to transfer cash and assets to their heirs.

      #3 THE LOUD AFFLUENT SET

      These individuals have too much money, but probably are not true Millionaires. They are the "nouveau riche" who probably have come into their money quickly through a fortuitous investment. The internet millionaires of the 1990’s are a good example. One or both may work in a professional job, with a small investment portfolio in real estate and stocks. The downside is that they can barely make ends meet on their loud affluent lifestyle. With the opulent house, new Mercedes car payments, country club dues and whopping credit card expenses, they secretly struggle to meet their quarterly tax payments and huge property tax bills. Their $200-250K in joint

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