The Five Lessons a Millionaire Taught Me for Women
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About this ebook
When Richard Paul Evans was twelve years old, his father fell and broke both of his legs. With no income and no insurance, the Evans family was destitute. At this time a multimillionaire taught young Evans the five secrets to wealth. Evans used those five secrets not only to change his life but that of thousands of others when he wrote The Five Lessons a Millionaire Taught Me About Life and Wealth. An international bestseller, this essential book interweaves those influential lessons with personal stories from everyday people. Evans explains that money should not be the preoccupation of our lives, but instead our focus should be on the principles that free us to concentrate on God, family, and relationships—life's true riches.
Now Evans has taken years of personal research and coaching to create the perfect money book for women who want a better life. With his classic, motivational voice, Evans offers lessons that are easy to understand and simple to follow. Powerful, proven, and life changing, The Five Lessons a Millionaire Taught Me for Women may be one of the most important books you will ever read.
Richard Paul Evans
Richard Paul Evans is the #1 New York Times and USA TODAY bestselling author of more than forty novels. There are currently more than thirty-five million copies of his books in print worldwide, translated into more than twenty-four languages. Richard is the recipient of numerous awards, including two first place Storytelling World Awards, the Romantic Times Best Women’s Novel of the Year Award, and five Religion Communicators Council’s Wilbur Awards. Seven of Richard’s books have been produced as television movies. His first feature film, The Noel Diary, starring Justin Hartley (This Is Us) and acclaimed film director, Charles Shyer (Private Benjamin, Father of the Bride), premiered in 2022. In 2011 Richard began writing Michael Vey, a #1 New York Times bestselling young adult series which has won more than a dozen awards. Richard is the founder of The Christmas Box International, an organization devoted to maintaining emergency children’s shelters and providing services and resources for abused, neglected, or homeless children and young adults. To date, more than 125,000 youths have been helped by the charity. For his humanitarian work, Richard has received the Washington Times Humanitarian of the Century Award and the Volunteers of America National Empathy Award. Richard lives in Salt Lake City, Utah, with his wife, Keri, and their five children and two grandchildren. You can learn more about Richard on his website RichardPaulEvans.com.
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Reviews for The Five Lessons a Millionaire Taught Me for Women
13 ratings3 reviews
- Rating: 2 out of 5 stars2/5This audiobook was a quick listen! I would've given it three stars, but at the end of the audiobook, he peddles his online community for $10 to join and $9.95 per month. That was a turnoff! Otherwise, it was some pretty good, if not old advice.
- Rating: 3 out of 5 stars3/5(It's hip to make a women's version of your investment book.) Short, a little fluffy, a little lowest common denominator but there were at least three interesting bits (why some people should get into buying precious metals (usually I only see gold in the context of a scam), seven simple words (but... I would have saved more by not being someone who buys those shoes), burnt toast syndrome (a really catchy name for the tendency that makes the flight attendants warn YOU personally what to do in loss of cabin pressure.)) Get it from a library if it appeals to you, it's a quick read (so you're not wasting much time, but also not much content one would need to refer back to later.)
- Rating: 5 out of 5 stars5/5Practical and great. This is an easy read with clear ideas that I'm ready to get going with.
Book preview
The Five Lessons a Millionaire Taught Me for Women - Richard Paul Evans
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PRAISE FOR THE FIVE LESSONS A MILLIONAIRE TAUGHT ME ABOUT LIFE AND WEALTH
This book is a must-read for everyone seeking prosperity through correct financial principles.
—GARY TERAN, president, First Western Advisors
The dependence on the illusionary benefits of money is bankrupting the hearts and financial lives of Americans. It is critical that we rethink our beliefs, actions, and relationships with money. Is it too late to think differently and make better choices? Evans’s answer is a resounding no. The five lessons are a timely blessing that should be instilled into our beliefs and, most important, our hearts. I highly recommend everyone read this book.
—BOB BROOKS, The Prudent Money Show
"The educational void we have in this country when it comes to money and investing is exposed and examined well in The Five Lessons. But Richard Paul Evans makes sure that we don’t forget the importance of generosity and kindness to go along with success…. This book is a gift of knowledge for anyone looking for the right path to both monetary and spiritual health."
—GARY GOLDBERG, Money Matters Financial Network
This book underscores years of proven lessons I’ve passed to listeners and clients. I knew it hit the mark after one of my most influential and successful clients called me to say that he passed the book to his grandchildren as a good guide to lessons in life.
—STUART L. STEIN, Your Estate Matters radio program
Oliver Wendell Holmes taught, ‘I wouldn’t give a fig for the simplicity on this side of complexity, but I would give my right arm for the simplicity on the far side of complexity.’ These five lessons represent that simplicity with a larger sublime context.
—DR. STEPHEN R. COVEY, author of The 7 Habits of Highly Effective People
Richard Paul Evans not only teaches the prudent acquisition of wealth but the proper way to use it. I would as readily recommend this book to the young, cash-strapped newlywed couple as to the manager of a multibillion-dollar enterprise.
—ROBERT C. GAY, managing director, Bain Capital
"In The Five Lessons a Millionaire Taught Me About Life and Wealth, Richard Paul Evans explains in a concise and, therefore, powerful way the principles of wealth. You, who are willing to put the Five Lessons into practice, will become wealthy. And in doing so, you will increase your powers of opportunity and your ability to be generous in a faltering world."
—HYRUM SMITH, cofounder, Franklin Covey
Adapted from The Five Lessons a Millionaire Taught Me About Life and Wealth. Portions of this book were first published in The Five Lessons a Millionaire Taught Me About Life and Wealth.
Fireside
A Division of Simon & Schuster, Inc.
1230 Avenue of the Americas
New York, NY 10020
Copyright © 2009 by Richard Paul Evans
All rights reserved, including the right to reproduce this book
or portions thereof in any form whatsoever. For information
address Fireside Subsidiary Rights Department, 1230 Avenue
of the Americas, New York, NY 10020.
Fireside and colophon are registered trademarks of Simon & Schuster, Inc.
Library of Congress Cataloging-in-Publication Data is available.
ISBN-13: 978-1-4391-5566-0
ISBN-10: 1-4391-5566-6
Visit us on the World Wide Web:
http://www.SimonSays.com
To my true wealth—Jenna,
Allyson, Abigail, McKenna,
and Michael.
In keeping with this book’s message, all of the author’s royalties from this edition will be donated to charity.
ACKNOWLEDGMENTS
I am very grateful for all those who helped make this book possible. First, to all the women who have shared with me their stories, successes, and hurts. Karen Roylance, my writing assistant, for her dedication, ideas, and insight. To my Five Lessons Institute team: Meagen Bunten, Karen Christoffersen, Barry Evans, Marc Steele (and his team), Chrystal Hodges, Judy Schiffman, and Laurie Liss. To Miche Barbosa, for taking such good care of me. To our 5 Lessons CRs, for your passion and hard work. (Especially you, Troy, Pamela, and Mo.) Also, Barney and Bonnie Hellenbrand at HBW. To my Giving Back
team: Lisa Johnson and Lisa McDonald. And a special thanks to Mark Gompertz, Zachary Schisgal, and the folks at Fireside who, seeing the need, brought this book to market in record time.
Of course, thank you to my mentor, Kerry Heinz, for helping out a twelve-year-old boy who was down on his luck.
CONTENTS
ACKNOWLEDGMENTS
FOREWORD
by Heather McVey
PREFACE
Why I Wrote a Book Especially for Women
INTRODUCTION
Hard Times
LESSON ONE
Decide to Be Wealthy
LESSON TWO
Take Responsibility for Your Money
Know How Much Money You Have
Know Where Your Money Comes From
Know Where Your Money Is Going
Know What Your Money Is Doing
LESSON THREE
Keep a Portion of Everything You Earn
The Power of Compound Interest
Starting Your Nest Egg
LESSON FOUR
Win in the Margins
Winning in the Margins with Extra Income
Winning in the Margins with Savings
Mind-set One (Carefully Considers Each Expenditure)
Mind-set Two (Freedom and Power Are Better Than Momentary Pleasure)
Mind-set Three (Does Not Equate Spending with Happiness)
Mind-set Four (Protects the Nest Egg)
LESSON FIVE
Give Back
CONCLUSION: Is It Ever Too Late to Start?
RESOURCES
Glossary of Financial Terms
Winning in the Margins with Extra Income
Winning in the Margins with Savings
Net Worth Forms
Cash Flow Forms
Dear Reader,
Before you read this book there are five things you deserve to know.
1. I Wrote The Five Lessons to Make You Rich, Not Me.
I believe that most get-rich books are written to make the author rich. I didn’t want my readers to think that about my book and to possibly discount its message. I solved this problem by giving away all my author royalties from The Five Lessons to help abused children. I will continue to give away my author royalties from this book as well.
2. The Story of My Millionaire Mentor Is True.
My millionaire mentor, Kerry Heinz, taught me these powerful lessons when I was a twelve-year-old boy. Though Mr. Heinz is now retired, I am fortunate that my relationship with this wonderful man and his family continues to this day.
3. The Principles in This Book Work in Good Times and Bad.
In fact, they work exceptionally well in both. I’ve spent a lifetime proving them. I’ve also heard from women around the world whose lives have been changed by these principles. The foreword to this book, written by my niece Heather, is a great example of how powerfully these principles can work. If you follow them, you will see financial change in your life, likely much faster than you expect.
4. The Acquisition of Money Is a Psychological Process.
These Five Lessons work so well because they take into account natural psychological tendencies. The fact that these principles are simple to follow does not make them less effective. The simplicity of the process is its genius.
5. Like You, I’ve Also Made Financial Mistakes.
I think I’ve made every mistake I write about in this book. Every time I stepped from the path of the Five Lessons I paid for it. Literally. My mistakes have only proven to me the importance and efficacy of these lessons. May you wisely learn from my mistakes instead of your own.
In the course of writing a book for women I encountered two primary difficulties. First, no definition of a specific social group will apply to all of its members. Ever. There are exceptions in every group. In money matters there are women who are financial geniuses and those who struggle to balance their checkbook. In writing this book I decided to reach women at the most basic level to help as many as possible.
Second, the ability to substantiate usable research was often hampered by people or groups with political agendas. Not surprisingly, I frequently came across contradictory reports about women’s financial trends. This book isn’t a political treatise. The sole purpose and agenda of this book is to help women succeed financially. Period. In these difficult economic times and with the challenges women face today, nothing could be more important.
In the face of contradictory information, I have chosen to rely on my personal observations and research. Over the past three years I’ve had the privilege of sharing the Five Lessons with thousands of women. I’ve heard their stories firsthand and read about their experiences through letters and e-mails. I’ve personally mentored groups of women for months at a time. I have an entire notebook filled with personal financial anecdotes sent in by women. The composite of these experiences has helped me paint a picture of where women are in the financial world. Not every woman, but the majority of them.
One of the beneficial results of my interactions is that I’ve identified five mistakes women frequently make when it comes to money. These include:
Unenlightened Beliefs About Money
Undervaluing Their Assets
Burnt Toast Syndrome
Investment Paralysis
Overtrusting
This book contains proven solutions for each of these problems.