Comments on: Review of Alan Corey’s A Million Bucks by 30 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: AlexM http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-148763 AlexM Wed, 13 Aug 2008 12:55:28 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-148763 I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road! I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!

]]> By: Car Leasing Prices http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-136287 Car Leasing Prices Sat, 19 Apr 2008 14:39:10 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-136287 I think this is one of the best books ever written - you have to believe to get yourself ahead. I think this is one of the best books ever written – you have to believe to get yourself ahead.

]]> By: wedding-rings http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-126894 wedding-rings Sat, 01 Mar 2008 22:33:58 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-126894 I definitely liked the phrase "No one will care more about your financial picture than you". This is the basic of one's lifetime economy, isn't it? I definitely liked the phrase “No one will care more about your financial picture than you”. This is the basic of one’s lifetime economy, isn’t it?

]]> By: O-Gee http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-112307 O-Gee Mon, 31 Dec 2007 15:36:33 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-112307 this guy is a self-agrandizing delusional tool. he is reminiscint of john fitgerald page (see www.johnfitgeraldpage.com), another georgia tool. oh yeah, in added up your money, mr. chamillionaire-money-bags-richey-rich, never mind the +/-28% capital gains taxes you have yet to pay. anyone, and this means anyone, who didn't make a fortune in n.y. real estate in the past five years is a major boob. wake-up, douchebag. making your money had nothing to do with having an ATM several blocks away, eating ramen or any of your other nonsensical bon mots. it had everything to do with a n.y real estate market that made millionaires out people who just happen to buy a place to live. this guy is a self-agrandizing delusional tool. he is reminiscint of john fitgerald page (see http://www.johnfitgeraldpage.com), another georgia tool. oh yeah, in added up your money, mr. chamillionaire-money-bags-richey-rich, never mind the +/-28% capital gains taxes you have yet to pay. anyone, and this means anyone, who didn’t make a fortune in n.y. real estate in the past five years is a major boob. wake-up, douchebag. making your money had nothing to do with having an ATM several blocks away, eating ramen or any of your other nonsensical bon mots. it had everything to do with a n.y real estate market that made millionaires out people who just happen to buy a place to live.

]]> By: mbhunter http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111563 mbhunter Sat, 29 Dec 2007 03:32:45 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111563 @Lazy Man: A fair bit of his million could be attributed to that. He admits in the book that he was lucky there. @Lazy Man: A fair bit of his million could be attributed to that. He admits in the book that he was lucky there.

]]> By: Lazy Man http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111540 Lazy Man Sat, 29 Dec 2007 01:10:39 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111540 Does it say how much was due to real estate? I can imagine that it might not have been that hard to make a few hundred grand in NYC in real estate over the last say 9-10 years. That might rely on a lot more luck, than say, information that the reader can utilize for himself. Does it say how much was due to real estate? I can imagine that it might not have been that hard to make a few hundred grand in NYC in real estate over the last say 9-10 years. That might rely on a lot more luck, than say, information that the reader can utilize for himself.

]]> By: mbhunter http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111478 mbhunter Fri, 28 Dec 2007 17:54:21 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111478 @Eden: Well, he was actually on the shows. His website (http://www.alancorey.com) has the videos of him along with a stand-up routine. I haven't verified the rest of his stories. The lying and stealing is something I couldn't live with myself but the other good advice in the book stands on its own, and it seems to have been earned legitimately. @Enough Wealth: True about the schooling thing. More accurate would be "he didn't use much of what he learned through his specific degree." Also, I agree that Corey's strategies are win-big or lose-big, but an early twenties guy has the time to lose big once and come out stronger from it, as well as live like a pauper to save up for later. Finally, a lot of his net worth did come in the form of real estate equity, granted. Right now the properties are income-producing (or at least they were). @Eden: Well, he was actually on the shows. His website (http://www.alancorey.com) has the videos of him along with a stand-up routine. I haven’t verified the rest of his stories. The lying and stealing is something I couldn’t live with myself but the other good advice in the book stands on its own, and it seems to have been earned legitimately.

@Enough Wealth: True about the schooling thing. More accurate would be “he didn’t use much of what he learned through his specific degree.” Also, I agree that Corey’s strategies are win-big or lose-big, but an early twenties guy has the time to lose big once and come out stronger from it, as well as live like a pauper to save up for later. Finally, a lot of his net worth did come in the form of real estate equity, granted. Right now the properties are income-producing (or at least they were).

]]> By: Eden http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111449 Eden Fri, 28 Dec 2007 14:36:35 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111449 I don't know...if this guy was willing to lie and steal to reach his goal, how do we know the story is true? Is writing the book just another 'creative' way to make money? I don’t know…if this guy was willing to lie and steal to reach his goal, how do we know the story is true? Is writing the book just another ‘creative’ way to make money?

]]> By: Jerry http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111402 Jerry Fri, 28 Dec 2007 06:43:58 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111402 Thank you for providing the better highlights and also the cautions. I couldn't agree more about not taking the left umbrella and getting on Jerry Springer to get a vacation. It's wrong and while creative it promotes the wrong values in regards to making and keeping money. I really like the various streams of revenue. My wife and I have a side business selling products on ebay in addition to my regular job in insurance. This is a great, creative and legitimate way to make a little extra money. Jerry www.leads4insurance.com Thank you for providing the better highlights and also the cautions. I couldn’t agree more about not taking the left umbrella and getting on Jerry Springer to get a vacation. It’s wrong and while creative it promotes the wrong values in regards to making and keeping money. I really like the various streams of revenue. My wife and I have a side business selling products on ebay in addition to my regular job in insurance. This is a great, creative and legitimate way to make a little extra money.

Jerry
http://www.leads4insurance.com

]]> By: Enough Wealth http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/comment-page-1/#comment-111392 Enough Wealth Fri, 28 Dec 2007 05:28:59 +0000 http://www.mightybargainhunter.com/2007/12/27/review-of-alan-coreys-a-million-bucks-by-30/#comment-111392 The biggest problem with this approach is the high and undiversified risk being taken onboard in order to 'get rich quick'. If ten young people tried this approach one or two would also make a million bucks by thrity. Unfortunately a few of them would also end up as a broke thrity year old. For example, investing in real estate with essentially 0% down is a recipe for disaster if real estate prices don't go up - just imagine how Corey would have ended up if he'd been on the same path but started out five years later. A 'get rich slow' approach using a realistic savings plan and an asset allocation in line with your risk tolerance will produce better results for most people. The other problem is that one can take frugality too far - I lived at home while going to uni to save on rent, and saved up to invest in stocks and real estate instead of leasing a car or eating out twice a week. But I still spent some money going on overseas holidays, scuba diving and skiing when I was in my twenties and thirties. This meant I didn't hit one million until I was in my forties, but I has some fun along the way. BTW - I think the line "Corey used very little of what he learned in school..." is a bit naff. Where do you think he learned to read, write and add up? Not to mention time management, planning and "how to learn". Regards http://enoughwealth.com The biggest problem with this approach is the high and undiversified risk being taken onboard in order to ‘get rich quick’. If ten young people tried this approach one or two would also make a million bucks by thrity. Unfortunately a few of them would also end up as a broke thrity year old. For example, investing in real estate with essentially 0% down is a recipe for disaster if real estate prices don’t go up – just imagine how Corey would have ended up if he’d been on the same path but started out five years later. A ‘get rich slow’ approach using a realistic savings plan and an asset allocation in line with your risk tolerance will produce better results for most people.

The other problem is that one can take frugality too far – I lived at home while going to uni to save on rent, and saved up to invest in stocks and real estate instead of leasing a car or eating out twice a week. But I still spent some money going on overseas holidays, scuba diving and skiing when I was in my twenties and thirties. This meant I didn’t hit one million until I was in my forties, but I has some fun along the way.

BTW – I think the line “Corey used very little of what he learned in school…” is a bit naff. Where do you think he learned to read, write and add up? Not to mention time management, planning and “how to learn”.

Regards
http://enoughwealth.com

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