Madow debuts with a simple but extremely relatable approach to investing and personal finance. Writing to readers who prefer being comfortable rather than rich, he presents his personal roadmap to financial freedom that he asserts “will work for you no matter what stage of life you are in right now.” Part manifestation journal and part personal finance guide, How to Become the Neighborhood Millionaire encourages readers to dream about their futures and solidify what wealth means to them in concrete, achievable terms. He details the ins-and-outs to becoming a “neighborhood millionaire,” including budgeting, the importance of emergency fund savings, eliminating credit card debt, investing, and more.This straightforward guide is progressively organized, starting with understanding methods of setting realistic financial goals, how to determine net worth, and dynamic budgeting–Madow even offers recommendations for helpful planning apps to streamline organization.Unlike many personal finance guides, math formulas and statistics take a backseat to down-to-earth advice in this refreshing work: Madow cautions readers to avoid multi-level marketing companies (MLMs) and timeshares at all costs, and he recommends never co-signing on a loan. His advice is unflinching and straightforward: “Debt is a demon that will cripple your overall financial plan to fail,” he argues.
Deeper in the book, building on the basics from earlier chapters, he offers advice on choosing the right life partner, pursuing higher education without student loans, and making lifestyle sacrifices, all before moving, in the conclusion, to investing fundamentals, retirement accounts, and a breakdown of the best way to make your money work for you through compound interest. Madow isn’t shy about offering opinions that run contrary to much mainstream financial advice, such as his belief that good debt doesn’t exist and his preference for renting versus home ownership. Novice investors and readers wanting to eliminate debt or simply improve their finances will appreciate Madow’s uncomplicated and candid suggestions.
Takeaway: This guide is perfect for readers seeking a practical way to improve their finances and plan for their future.
Great for fans of: Dave Ramsey, Suze Orman.
Production grades
Cover: B+
Design and typography: A
Illustrations: N/A
Editing: A
Marketing copy: A
