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The Complete Idiot's Guide to Getting Rich
By Larry Waschka, $17
Alpha Books
©Money Magic, Inc. 10/17/98
Saturday Daybreak KATV, Chn. 7
Mary Ann Campbell, CFP

Larry Waschka is one of our own here in Arkansas. He is a registered investment advisor and owner of Waschka Capital Investments. He manages millions of dollars for hundreds of clients through no-load mutual funds.

This book by Larry is an excellent guide for understanding the basic principles of wealth building as well as the details of each step. What makes his book interesting are the real life stories of his clients (names changed of course) and how many achieved wealth through modest means but disciplined target savings goals (TSG.) Others own their own businesses, and he includes a chapter on entrepreneurship.

Characteristics of Wealthy People

A passion for what you do
The ability to make decisions
Discipline
Patience

Habits of Very Wealthy People

Save every month
Buy used when you can
Avoid debt
Shop before you buy
Delay purchases of items you don't need
Take care of what you own
Maintain a basic understanding of the stock and bond markets
Take time to plan, research, and systematically measure your results

Waschka's Wealth Levels

Wealth Level 1: You are able to maintain standard of living and meet your TSG.

Wealth Level 2: Your portfolio produces your TSG and keeps up with inflation.

Wealth Level 3: Your portfolio covers your desired lifestyle and inflation.

Wealth Level 4: Your assets produce an increased lifestyle

Wealth Level 5: More than you can spend and can be charitable

Larry's revised version will be out soon. It will include the same principles in an easier and more understandable way. New prioritized websites will be added. His main website is: www.investorama.com. His current message is "the market is cheap right now; great time to get started or add money to it; everything's on sale!"