The Big Winner

May 29th, 2008 by admin

For a while I’ve been reading personal finance blogs like Get Rich Slowly and The Simple Dollar. These blogs helped me understand the basics of frugality, investing, retirement planning, insurance, etc. Recently, a new personal finance blog known by the exciting title How to Make 7 Million in 7 Years exploded on the scene. This blog breaks the mold of personal finance writing and is in fact more of a wealth & business growth blog. The author went from being $30,000 in debt to having a net worth of $7 million. He accomplished this through commercial real estate investment and entrepreneurship. Real estate and entrepreneurship are the classic engines of growing wealth according to books like “Get Rich, Stay Rich, Pass It On” written by George Walper and Catherine McBreen.

AJC, the author of “How to Make 7 Million in 7 Years” outlines a three part plan to making and growing wealth:
Making Money 101: This stage includes debt repayment, saving & frugality
Making Money 201: This stage is all about active investing such as starting a business and selling real estate
Making Money 301: The final stage focuses on moving from active to passive (income-generating investments)

The blog goes into much greater detail on the last two stages. This niche (growing wealth) remains unexplored by many personal finance authors, which is why AJC’s blog is such a breath of fresh air.