I’ve been meaning to write a review of Felix Dennis’ How To Get Rich for sometime now.
It’s one of the best books about becoming rich by someone who actually did it. If you have followed my blog at all you may have noticed that I’ve written a bit on becoming financially independent.
There are a two mindsets to become financially independent – 1 Burn the candle at both ends. Eat,sleep, and breath making money. 2 Live below your means. Become less dependent on financial system and SAVE.
How To Get Rich focuses on the former. Dennis ate, slept, and breathed making money. He burnt the candle at both ends and became one of the richest, most successful, magazine publishers in the World. When Dennis died in 2014, his net worth was more than 750 million.
I don’t share Dennis’ mindset. I prefer to get rich not by working myself till exhaustion, but by becoming less dependent on the financial system so I can focus on other areas of my life. However, I still enjoyed reading his book and would advise anyone, no matter what mindset they have towards financial independence, to read it.
Unlike other books on “becoming rich,” this book contain absolute no fluff. Dennis tells it like it is. He doesn’t spare your feelings or blow smoke up your ass. He’s not there to tell you that you’re a special little snowflake and that you can do whatever you want if you just put your mind to it. This is as far away from the Secret as you’re going to get.
Dennis tells you the cold hard reality of getting rich and why not everyone is cut out for it. In general, if you want to get rich you will have to work seventy plus hour weeks, be an owner, and become an outcast. Of course, this is all rests on your definition of what it means to be well off financially. Dennis says if you have anywhere between 1 million to 3 million your “comfortably poor.” This is ridiculous, but yeah, if you want to be considered a true baller by Dennis’ definition, you’re going have to create tunnel vision towards wealth.
Most people are not wired to do this. Most people have a hard enough time getting out of the cycle of living paycheck to paycheck, nevermind starting a successful business that will make them truly rich.
Reading How To Become Rich is the bucket of cold water in the face to anyone who thinking their path to financial freedom is becoming insanely wealthy. Some may think this book is a dream killer, but it’s not. It’s book to reflect on and than ask yourself – Am I really cut out to become truly wealthy. If there is any doubt in answering that question than you’re not cut out to become truly wealthy, oh well.
To become truly exceptional in anything takes tunnel vision. It takes time, lots of it. It also takes sacrifice. This often means denying other parts of your life in order to reach that goal. It is rare that the truly exceptional are well rounded. Often times, the exceptional are fatally flawed in other areas of their lives. Dennis admits to a nasty crack cocaine addiction in the early 90’s that nearly ended his life and admits to alienating a lot of friends & family on his path to wealth. So yeah, it’s not all sex parties and cruising around in a yacht.
If you take away anything from this book I hope you take away that there are easier ways to become wealthy than focusing your entire life on making money. However, if you want to go down the path to extreme wealth than don’t let me kill your dreams. Then again, if you let my opinion kill your dreams you’re probably not cut out to be extremely wealthy anyways.