About this Book
Baby Steps Millionaires: how ordinary people build extraordinary wealth – and how you can too
By Dave Ramsey
Reviewer’s Thoughts:
This is a follow up to The Total Money Makeover. While he does a quick review of the baby steps, this book gets more into steps you can take once you are out of debt (aside from paying off your home mortgage).
The chapter lengths are manageable, so if you want to break it up over a few days, it’s not going to take you all day to listen to a chapter.
Some of the stories might be easier for readers to connect with than others, but Mr. Ramsey does a good job of trying to find a cross section of different people. He pulls in a lot of research to show his points, but he doesn’t overdo it on statistics.
He’ll tell you that their company is not an investment company, though he talks about how he invests his funds. He also goes into the most efficient way to invest your money. Some people object, that his numbers he says you should save are too low. Others feel that his plan waits too long to do retirement investing, especially now that many employer pensions and other programs that were available to help retired workers are either in trouble, or are no longer available. He goes into more detail about why he does what he does in the first book, but this one is more to help people get started, and show that it’s possible to start if you have the right mindset. You may or may not reach $1 million. And it may or may not be enough for you to live on. But he gives you a roadmap that if you follow, it will give you some cushion for the rainy days, and later, some level of wealth.
Perhaps later on inyour journey, once you are used to saving and investing, you can bring your amounts you’re contributing up. You might lose out of some compound interest doing it that way, but for someone who is not used to investing at all, there’s a concern about setting a bar so high that the person may figure it’s not worth bothering with, because they don’t feel they can reach those higher numbers.
The important thing is to start somewhere. Once you’re not paying creditors anymore, doing something is better than doing nothing. Whether you go with this plan or not, the sooner you can get out of debt and start investing, the less heavy lifting you will have to do later on. This book is uplifting, and worth the read.
Book Details
Title:
Baby Steps Millionaires: how ordinary people build extraordinary wealth – and how you can too
Author:
By Dave Ramsey
Length
NLS Audio Book: 4 hours, 54 minutes
Kindle Book Pages: 222 pages
Site Description:
You Can Baby Step Your Way to Becoming a Millionaire
Most people know Dave Ramsey as the guy who did stupid with a lot of zeros on the end. He made his first million in his twenties—the wrong way—and then went bankrupt. That’s when he set out to learn the right way of managing money and developed the Ramsey Baby Steps. Following these steps, Dave became a millionaire again—this time the right way.
After three decades of guiding millions of others through the plan, the evidence is undeniable: if you follow the Baby Steps, you will become a millionaire and get to live and give like no one else.
In Baby Steps Millionaires, you will:
Take a deeper look at Baby Step 4 to learn how Dave invests and builds wealth.
Learn how to bust through the barriers preventing you from becoming a millionaire.
Hear true stories from ordinary people who dug themselves out of debt and built wealth.
Discover how anyone can become a millionaire, especially you.
Baby Steps Millionaires isn’t a book that tells the secrets of the rich. It doesn’t teach complicated financial concepts reserved only for the elite. As a matter of fact, this information is straightforward, practical, and maybe even a little simple! But the life you’ll lead if you follow the Baby Steps is anything but boring! You don’t need a large inheritance or the winning lottery number to become a millionaire. Anyone can do it—even today. For those who are ready, it’s game on!
Release Date: January 11, 2022
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