Item description for Becoming a Millionaire God's Way: Getting Money to You, Not from You by Anderson...
Overview This newly revised and expanded edition decries the myth that Christians must be poor and presents the keys to financial prosperity. Dr. Anderson combines biblical principles with expert financial advice.
Publishers Description This newly revised and expanded edition decries the myth that Christians must be poor and gives readers the keys to financial prosperity. Dr. Anderson combines biblical principles with expert financial advice, equipping readers with the tools they need to attain the riches they deserve. An invaluable resource for current or would-be investors or entrepreneurs, this book not only inspires readers to become educated about finances but also spurs them on to action and compels them to move forward confidently to achieve their financial dreams. New content includes callouts and new chapters on how to invest safely in today's market and on understanding that Jesus wasn't poor.
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More About Anderson
Joan Anderson is a journalist and the bestselling author of A Year by the Sea, An Unfinished Marriage, A Walk on the Beach, and A Weekend to Change Your Life. A graduate of Yale University School of Drama, she lives with her husband on Cape Cod, Massachusetts, and conducts weekend workshops for women throughout the country. For more information, please visit joananderson.org
Reviews - What do customers think about Becoming A Millionaire God's Way (Expanded)?
Best investment book I've read to date Jan 26, 2010
I've read quite a number of investment/wealth books and I can tell you if you're a Christian you want to read this book. It addresses the foundation of becoming prosperous, not just activities such as buy 10 shares of xyz.
The recommended reading list at the end of the book makes the book a complete guide to becoming rich God's way.
Great book Jan 24, 2010
I bought this book out of curiosity. I thought it was just another book that teaches,"name it and claim it" doctrine. But it is based on sound biblical principles. Setting goals is in the will of God. Joseph was an investor, and a wise investor. The notion that a christian must be poor is not of God but from the enemy. God wants us to be fruitful, wealthy. According to proverbs 13:22, " A good man leaves an inheritance for his children's children". How can that be if that person doesn't have an inheritance in the first place? You can't give what you don't have.
I highly recommend this book for whoever wants to acquire knowledge. Buy this book as soon as you can and start reading it. I guarantee you it's going to change your financial life if you let it.
This Book Can Be Summed Up in One Sentence Jan 11, 2010
I actually read the hard back copy of this book, but I really don't think that matters.
The bottom line is that this book can be summed up in one sentence: "Educate yourself about personal finance and investments." The author repeats this over and over throughout the book.
Something I had a problem with is the teachings on tithe. As Christians we are saved by grace through faith. Tithe, like a lot of other things, is old testament teaching. It doesn't apply. We are to give because we want to, not because God commands it.
If you really want a good financial education that will make you rich, then read the books that are listed in the back of the book. These will help you more.
Also, I would recommend you read Terry Dean's Financial Freedom: A Step-By-Step Practical Guide for Walking in God's Blessings. I found this book to be a lot more helpful as Dean thoroughly covers the topic of wealth from a biblical perspective. (Dean is a minister, but he's also a millionaire internet marketer.)
Breaking Proverty Mentality Jun 4, 2009
This book is a must read for every individual that is an amature in business and their walk with God. As my business developed I was encountered by many friends and relatives saying that I shouldn't strive to make money and that money did not bring happiness. They even quoted scripture justifying their beliefs. I couldn't defend myself against their misuse of the Word of God because I was not savy in that arena myself. Reading "Becoming a Millionaire God's Way" helped me understand those quotes and their True meaning. I Thank God for individuals like Dr. Anderson for compiling wisdom and true knowledge the way that he did.
Not thrilled, false claims May 12, 2009
What do I mean by false claims?
Well on page 85 it is declared "Twenty-give dollars a week can make you a millionaire in thirty years if you don't do anything with it but put it in the bank."
However that's simply not true, even if we use favorable numbers, and these numbers are approximations only.
If you contribute $25 every Monday into a savings account with daily compounded interest you won't have anywhere close to a million dollars in 30 years.
The very best interest rate I could find for a savings account was 3%, At the very end of 30 years, you will have contributed $38,250 and it would be worth $61,330.87. Of course that's ignoring any fees or taxes you may be subject to.
However it's quite unlikely that interest rates will stay this low for the next three decades. So we can stack the deck in the author's favor and assume that by "bank" he meant a nice safe (bank account like) Money Market mutual fund, which over the next 30 years might (if you're incredibly lucky, or inflation is bad) average 10% (unlikely), even if that's the case, at the end of the 30th year, you'll still only have $231,953.50 for your $38,250.00 contribution.
Hardly a "millionaire", in fact for Anderson's claim to be true you would have to earn an unheard of 16.6% on your deposit. That's incredibly unlikely, even with an actively managed portfolio.
If you were capable of consistently generating a 16.6% return on your investments over 30 years; regardless of expansion and recession, firms would be lined up at your door to pay you MILLIONS of dollars a year to manage billions of dollars of other people's money.
Okay, let's assume that 10% interest rate we talked about before, it's not impossible, just unlikely. How much would you have to contribute? $107.79/week. Granted in 30 years assuming modest inflation that might be very little money, the equivalent buying power of about $43 in today's money.
The author also makes a big deal about claiming items, like a jacket he wanted to buy which was something like $400, and after waiting a year and visiting the jacket it eventually came down to $125 or something. However if in the first place he had looked for year old items on the rack he could have found a nice coat for $125 anyways, and not waited a year. Sure he would have compromised on style, but it's not like his year old jacket is on the cutting edge of style anyways, he even admits it had a faulty zipper, probably the real reason it was discounted so much (leather doesn't usually see as big of discounts as quickly).
My point is that the author seems to think it's a lot easier to accumulate wealth than it is, saving a few bucks by shopping sales, flipping houses (apparently that's a sure fire winner) and driving old cars and then selling them at a profit is hardly a major spiritual revelation. Those same things earn above average incomes for hundreds of thousands of people world wide every year; Christian, or otherwise.
I also feel a lot of scripture is misused by applying principals to topics which they may not have been intended for. But that's an opinion and it could easily be wrong.
I don't doubt that God wants his people to prosper but if you're looking to be a millionaire God's way I suspect you won't be living it up in a huge house and driving fast cars, that doesn't seem to be God's plan for his people. That's probably the most important point of this book, and I agree with it. He may make you a millionaire so you can advance his plans and you'll likely end up living a fairly normal life, but with larger charitable donations, and a greater ability to help people, and that's fine. But you could still give 50% of your income and work at a coal mine and live pretty much the same life. I suppose it depends what you want to do with your time, spend it trying to get rich, or spend it trying to get middle class, either way you'll probably still end up living a fairly normal lifestyle.
Not that there is anything wrong with that.
It's not a BAD book, it's just a bit too thin on financial reality in some places.
I'd like to know if Anderson thinks the millions of Christians who live in third world poverty are such because they have the wrong attitudes, don't try hard enough, don't invest and don't have the right motives, or if they think God wants them to be poor. That's a touchy subject that isn't properly addressed in the book.
That said, if you live in the developed world, and become a millionaire and contribute 20% of your income to charity, you're in a better place to help those same people than if you earn an average income and still contribute 20% of your income.