The 10 Roads to Riches: [Book Review]

The Ten Roads to Riches, by Ken Fisher with Lara Hoffmans

For some reason, the ideas in this book stay in my mind and they come up in client meetings from time to time. One of the interesting things about this book is that the author is not afraid to discuss sensitive topics. For example, one of the roads is “Marrying Well.” Most people would not consider this in a wealth building book, HOWEVER, the reality is that some people become wealthy by getting married.

The Ten Roads to Riches, by Ken Fisher (with Lara Hoffmans) offers a unique perspective on wealth accumulation, moving beyond typical frugality advice to explore the diverse paths taken by the super-rich.

Here's a review and summary:

Ken Fisher's The Ten Roads to Riches outlines various pathways to wealth, and while the specifics can be nuanced, here's a list of those literary roads:

1. Starting a Business

2. Becoming a CEO

3. Riding Along (Working for a Rising Star)

4. Becoming a Celebrity

5. Marrying Well

6. "Stealing" Legally (Through Lawsuits)

7. Using Other People's Money (OPM)

8. Inventing Income

9. Real Estate

10. The Road More Traveled (Traditional Investing)

It's important to note that Fisher's book delves into the intricacies of each of these paths, highlighting both the potential rewards and the inherent risks.

1. Multiple Paths to Wealth:

• Fisher demonstrates that there isn't a single "right" way to become wealthy.

• This emphasizes that individuals can find a wealth-building strategy that aligns with their skills and interests.

2. Beyond Frugality:

• The book moves beyond the typical personal finance advice of simply saving and budgeting.

• It focuses on the active creation of wealth through entrepreneurial ventures, investment strategies, and capitalizing on opportunities.

3. Learning from Success and Failure:

• Fisher highlights both successful and unsuccessful examples of individuals who have pursued these "roads."

• This provides valuable lessons on what to do and what to avoid when building wealth.

• The book provides "guideposts" and "warning signs" to help the reader navigate their own path.

The stories in this book can get pretty interesting. I read this book a very long time ago but it has stuck with me. Give it a listen. It will change your perspective.