There are a hundred get-rich books out there, but it always pays to examine the credentials of the guys who wrote them--after all if they've discovered the Midas Touch, why aren't they out there making money instead of writing about it? Jim Slater
, of course, has the CV to back up his words. One of the most notorious financial whizzkids of the 1960s, he rose to head up the giant Slater Walker financial conglomerate before crashing, burning, dusting himself off--and then making a million all over again.
How To Become a Millionaire is the fourth in his series of books demystifying investment and the acquisition of riches for small investors. And there is an evangelistic zeal and irresistible sense of fun about the whole process--Slater hates to see people not making the most of their money and he wants to share his secrets. And though he wants you to get rich, he makes no pretence about getting rich quick. "If this is your fantasy there are plenty of other publications to indulge it", he says pointedly. This is get-rich-slow, in fact. There are no magic formulas or high-risk strategies and, as far as possible, Slater and former Independent City Editor Tom Stevenson steer clear of mind-bending maths. You will discover a point-by-point personal strategy for maximising the return on your savings, eliminating wasteful investments and harnessing compound interest to turn your small nest egg into a future million. And if that all seems simple... it is. Slater's is a twin-pronged strategy of capitalising on the steady growth in property and the stock market, as you buy your home--and then use your mortgage payments to invest in tax-shielded ISAs.
The authors offer a selection of models--for the risk-averse and the daring alike. Choose your level of risk, then, as property and share prices reliably outstrip inflation, watch your investments compound and grow. As a focus on "the steady, relentless accumulation of real wealth through intelligent investment", this book takes some beating. --John Rennie
If anyone knows the secret of becoming a millionaire it is Jim Slater. He has done it himself more than once. His original approach combined with measured thinking of Tom Stevenson, who is one of the country's most respected journalists, have produced a book that is both a page turner and a work of reference. -- Terry Bond, private investor and a director of ProShare.