The Ten Roads to Riches: The Way the Wealthy Got There (And How You Can Too!) Summary and Reviews

The Ten Roads to Riches: The Way the Wealthy Got There (And How You Can Too!)
by Ken Fisher

The Ten Roads to Riches: The Way the Wealthy Got There (And How You Can Too!)
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Book Summary Information

Author: Ken Fisher
Reader: Ken Fisher
Reader: J.S. Gilbert
Edition: Music CD
Audio: English (Unknown); English (Original Language); English (Published)
Format: Audiobook, Unabridged
Published: 2008-11-04
ISBN: 0061672580
Publisher: HarperAudio

Book Reviews of The Ten Roads to Riches: The Way the Wealthy Got There (And How You Can Too!)

Book Review: An Outstanding Work
Summary: 4 Stars

I'm a fan of Ken Fisher's books. While he's other books are mostly about capital markets, but this one is a completely different book. It is based on Ken Fisher's experience in observing Forbes 400 list and managing wealthy people's money as a CEO of Fisher Investments. Based on these observations, the author have identified ten most usual patterns on becoming rich. The book isn't about getting rich quick. It's about getting mega-rich in ways that work over time.
What is the difference between this book and the author's other books about capital markets? The books on capital markets will teach how to invest wisely, but they don't teach how to become a billionaire, they just assume you already have enough investable money to have interest in capital markets and how they work.
To have enough investable money, it's better to be rich. And this is what this book about. While books like "Millionaire Next Door" in a plenitude, they teach you to save, to live beyond your means, to have compounding interest work for you as a way to get rich. But a majority of billionaires, like Bill Gates, never saved a penny. They have just created their wealth, rather than accumulated it by saving.
If you liked the chapter "Managing other people's money", I can also recommend the author's subsequent book "How to smell a rat", that augments and expands the topic of this chapter.
Pros
- Lots of statistical figures to proof the author's assertions
- Lots of useful tips throughout the book
- Lots of myths demystified about different professions, commonly believed to bring megawealth, e.g. sports players, actors, musicians, lawyers, etc.
- Each chapter has valuable references to further reading
Cons
- Minor factual errors: for example, the author wrote that Warren Buffett bought a "tiny" company Berkshire Hathaway. In fact, in 1955 the company had 15 plants employing over 12,000 workers.
- An audio version on CD (released by HarperAudio on November 4, 2008) has a foreword read by Ken Fisher with very awful quality, the sound seems to be distorted by excessive compression, voice sounds like "electronic" and is hard to tolerate. The rest of the book, read by J.s. Gilbert, is OK.

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