Missed Fortune 101: A Starter Kit to Becoming a Millionaire | 
 enlarge | Author: Douglas R. Andrew
Publisher: Business Plus
Category: Book
List Price: $23.99
Buy Used: $0.37
You Save: $23.62 (98%)
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Avg. Customer Rating:  79 reviews
Sales Rank: 33716
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6 x 1.2
ISBN: 0446576573
Dewey Decimal Number: 332.02401
EAN: 9780446576574
ASIN: 0446576573
Publication Date: January 3, 2005
Availability: Usually ships in 1-2 business days
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Shipping: International shipping available
Condition: Millions of satisfied customers and climbing. Thriftbooks is the name you can trust, guaranteed. Spend Less. Read More.
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Product Description
For years most investors have listened slavishly to the constant drum of standard and conventional wisdom when it comes to our personal finances. But here's the ultimate question: what if much of what we have heard about investing is wrong? That's what Doug Andrew believes. For a long time he has presented highly regarded personal finance seminars for investing professionals and Andrew has taken on the biggest myths when it comes to where people put their money. This book explodes myths such as: you really shouldn't pre-pay your mortgage. Don't expect your 401k and IRAs to cover your retirement (there are better ways!). When you buy a home, get the absolute biggest mortgage you can. Don't be misled about the amount of equity you have in your home (after all, if your cash is tied up, you can't do anything with it). These are just the tip of the iceberg, as Doug Andrew provides dozens of insights that most Americans have never even considered or have been misrepresented in the general personal finance media.
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| Customer Reviews: Read 74 more reviews...
 Missed Fortune 101 December 2, 2008
Not as easy to read as "Untapped Riches", but informative and similar information. Mostly discusses keeping a mortgage, getting no interest mortgage if you can, and little money down so that the money you keep you can invest and grow. Funny, all these books use 8% return as the qualifying rate over 20 years which sounds nice, but returns on anything can be iffy.
 Scam!!!!!!!!! September 16, 2008
2 out of 2 found this review helpful
Please don't waste your time, effort and money on this idea!!!! Been there done that, trust me you will be sorry. Check out the insurance policies on google first, these are not investments at all, just a way to give all your money to the insurance company. They say there liquid, safe, & guarantee your principle will be safe. Don't buy it, what they don't tell you is all the fees and commissions and taxes up front, kill any chance of you coming out ahead, even after years!!!!! & Years, you do the math, it doesn't add up, isn't true, and should be outlawed soon before someone gets really mad!!!!!!!!!! What ever you do don't take a second mortgage on your home and also put that in jeapardy. Basically you will be living in a nightmere state. That's where we're at now. Trying to get out of it!!!!!!!!!!!!! PS the Missed Fortune will be yours and the insurance company will then have it. Please don't waste your time!!! sincerely Teresa I had to give one star on the review because it won't accept none. Sorry! for that!!
A foolish scheme September 5, 2008
3 out of 3 found this review helpful
Horrible, awful advice from an insurance pitch-man. He conducts these "seminars" around the country where insurance agents and mortgage brokers are invited, and they are encouraged to bring potential clients so that the missed fortune people can make money, insurance agents can generate giant commissions on worthless products, and mortgage brokers can write up re-fi loans.
There is NO SUCH THING as "investment-grade life insurance." It's a made-up term. My sandwich I had had for lunch is "investment grade." What does that mean? Nothing. People who don't know any better are suckered into this scam by a huckster who is making money from this book and the seminars.
Do NOT be fooled by this scam. Don't buy the book, and certainly don't buy the "advice." This author is clueless.
 Not full disclosure July 5, 2008
2 out of 3 found this review helpful
I have read both of the MF101 books and find that they do not fully disclose the potential pitfalls of equity harvesting. I believe as a mortgage planner, it is my duty to introduce my clients to the concept of equity harvesting; however, under full disclosure. Equity harvesting can be a powerful wealth building tool, but before implementing equity harvesting, one must be aware of the pros and cons. I believe many advisors unknowingly may be opening themselves up to potential lawsuits by not fully disclosing the potential downsides to equity harvesting.
MF101 seems too much like a salse book created to sell life insurance products. Missed Fortune 101 implies that someone would be an idiot if they did not refinance their home and invest it in life insurance contracts. Can equity harvesting be a viable option for wealth building? Absolutely. However, the fact is that equity harvesting is not for everyone; therefore focusing on becoming debt-free, including paying your mortgage off early, is often times for many, the best course of action to take.
MF101 is nebulous in many of the concepts, and does not give full disclosure.
 New Ideas that seem like commn since once explaind by Dough Andrew in this book. April 17, 2008
2 out of 5 found this review helpful
Dough Andrew has many ideas that seem to go against traditional ideas of investment. But once you read his book it seems like common since and you wonder why no one has presented these ideas before.
Very respectfully,
Marty Burbank, JD, LLM(tax)
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