537 Retired Millionaires recently weighed in on plans to cut Social Security by banding together to teach their financial secrets to their less wealthy fellow retirees. The prestigous Midwest Book Review calls their book: "a treasure trove of fiscal knowledge."
Houston, Texas (PRWEB) March 11, 2004 -- It is well known that many Americans reach retirement age with limited savings. Even for those who are fortunate enough to retire with a nest egg in place, 21% fall on financial hard times and are forced back to work within 5 years of retirement, according to a new study. In response to this "American Retirement Crisis" a group of 537 retired millionaires decided to participate in a research project to share their financial secrets in the new book "How Millionaire's Stay Rich Forever." Trippon, the Houston CPA who conducted the study, offers a free subscription to his on-line retirement planning newsletter (based on the study) at his website www.stayrichforever.com
Trippon, a CPA and financial advisor to some of America's wealthiest families, says that many of the retired millionaires decided to participate in his study "out of sincere concern for their fellow retirees." According to Trippon, his new book is written for "anyone wanting to improve their financial future... not just retirees." The prestigious Midwest Book Review apparently agrees, saying the the book -- How Millionaire's Stay Rich Forever --is "a treasure trove of fiscal knowledge that will directly translate into conserving and enhancing on-going monetary wealth for anyone regardless of their current income level."
Some of the more interesting facts learned in the study include:
- Over 80% of American millionaires are self made, many built wealth without high paying jobs or college degrees.
- Most millionaires learned to live on less than their income long before they became wealthy.
- Millionaires often avoid buying new cars and instead often opt for lower cost late model used cars.
- Millionaires avoid credit cards like the plague.
- Most millionaire's don't cross that monetary threshold until they they hit age 50.
The Midwest Book Review reports How Millionaire's Stay Rich Forever teaches readers the "techniques that the wealthy in our country rely upon to guarantee that their golden years will be free of monetary worries." In spite of the fact that most Americans reach retirement with limited financial resources, about 5% of the population retires as self-made millionaires according to Trippon.
Trippon, who is based in Houston, Texas, spent three years interviewing the 537 retired millionaires included in the study. Trippon is available for print and broadcast interviews. For booking information contact Sarah Choi at 713-661-3806 or Trippon at 713-661-1040.
Publication Data: How Millionaires Stay Rich Forever: Retirement Planning Secrets of Millionaires and How They Can Work For You by Jim Trippon, CPA; Published by Bretton Woods Press LLC and distributed by Midpoint Trade Books; February 2004; 254 pages; $21.95; 6 x 9 Hard Cover - Cloth; ISBN: 0-9723389-1-8
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