The Armchair Millionaire

by Schiff, Lewis; Gerlach, Douglas

• ISBN13: 9780743411929
• ISBN10: 0743411927
• Edition: Reprint
• Format: Paperback
• Copyright: 2002-03-01
• Publisher: Atria Books

Summary

With more Americans than ever before taking responsibility for their own financial futures, it's no surprise that ever-larger numbers of investors -- both novice and experienced -- have reacted to all the dizzying headlines with a call for more information and less noise. At the Armchair Millionaire web site, real people come together every day to share their own stories of investing success, centered around a time-tested long term wealth building strategy called "The Five Steps to Financial Freedom." THE ARMCHAIR MILLIONAIRE explains both the mechanics and the motivations that produce true financial independence among ordinary people taking the first steps in their lifelong wealth-building efforts.

Author Biography

Lewis Schiff created Armchair-Millionaire.com by drawing on the years of personal-finance advice he had been giving to his friends and family. He is also a co-founder of Investorama.com, one of the leading Web sites for financial learning. In 1995, when the Internet was in its infancy, Schiff worked for Worth magazine, and launched Worth Online.

Table of Contents

Introduction	xi
Lewis Schiff
PART I Getting Ready for the Journey
What Is an Armchair Millionaire?	3	(6)
Financial Freedom Can Be Yours	9	(17)
Preparing Your Head and Heart for Achieving Financial Success	26	(10)
Dealing with Your Debt	36	(27)
PART II Five Steps to Financial Freedom
Step 1: Max Out All Tax-Deferred Savings	63	(27)
Step 2: Pay Yourself First	90	(17)
Step 3: Invest Automatically---and Benefit from Dollar Cost Averaging	107	(15)
Step 4: Use the Armchair Investing Strategy	122	(40)
Step 5: Start Today---Put the Power of Compound Interest to Work for You	162	(14)
Fulfilling Your Dreams	176	(11)
Appendix A: How to Use the Armchair Millionaire Web Site and This Book	187	(2)
Appendix B: Index Funds You Can Use in the Armchair Investing Strategy	189	(5)
Appendix C: Brokerage Firms and Mutual Fund Companies	194	(1)
Glossary	195	(6)
Index	201