Joseph S. Moore, a college professor and an enthusiastic investor, shares what he has learned from years of trying to get Rich. In essence, Moore believes this is a perfect time to get Rich. So many options! Step by step, Moore discusses your investment choices. Real Estate has been a popular option for years, but now with flooding and wild fires, maybe not a great choice.
In the Past, people were encouraged to get into debt. Mortgages, car payments, home equity loans were all popular ways of feeling Rich by pushing off payments into the Future. At one time–the 1950s and 1960s, owning a GM or Ford franchise and selling cars and trucks was a certain way to wealth. That’s when people used to buy a new vehicle every two or three years. Today, with cars and trucks costing $50,000+, that doesn’t seem to be a great way to get wealthy.
Moore points out timing is a key variable in getting Rich. Sure, if you bought Microsoft 40 years ago, you’d be Rich today. But look at all the people who lost their shirts owning stock in Enron.
The people investing in canals in the U.S. lost money, but the people who actually built the canals made lots of money. Moore presents plenty of stories of winners and losers throughout U.S. history with lessons to be learned in the ways of wealth.
I found How to Get Rich in American History a fun, entertaining, and educational book. Are you Rich yet? GRADE: B+
TABLE OF CONTENTS:
Introduction: Go Ahead! — 1
Part I: Your Money and American HistoryGetting Ahead is Easier Than Ever — 9
Fast Time, Slow Time — 11
Crypto Isn’t the Future, It’s the Past — 25
Financial Advice: Inflation’s Oops Baby — 34
Gurus are Selling Something, You Should Buy — 43
Your Net Worth is Wrong (So I Made Myself a Billionaire) — 53
Part II: Investing Then and Now— 61
The next big thing is a bad idea –63
;Compound interest and passive income are overrated — 73
Diversification won’t make you rich — 82
You can beat the market, you probably shouldn’t — 89
Women were always active investors — 103
Stocks used to be bad for the long run — 112
Part. II: Financial freedom the American way — 127
Financial independence isn’t what you think — 129
Real estate is a terrible way to make money — 140
House hacks and side hustles before Uber and Airbnb — 150
Yes, people retired before social security — 160
Immigrants make the best capitalists — 171
Scams: the Nigerian prince is actually from Spain — 180
Part IV: The Feds and the family— 191
Budgets are new, hating them isn’t — 193
Debt isn’t (necessarily) dumb — 202
The government was always involved — 213
Going broke is better than ever — 224
Marriage (and dual incomes) mattered… a lot — 235
Generational wealth doesn’t last long — 249
Part V: It’s getting better, much, much better — 261
People really did get ahead, and you can, too — 263
Conclusion: the real lessons of financial history — 277
Acknowledgements — 297
Notes — 299
Index — 331