The Millionaire Factory by Andrii Sedniev's tagline is that it is a complete system for becoming insanely rich. The first section is a wealth formula: Income - Expenses (Cost of Living) = Money to Invest. Invested Money x Rate of Interest earned = Growing Wealth. This is a solid wealth formula that those who have grown rich have known for centuries. Benjamin Franklin talks about it in his autobiography. Thus, to grow wealthy you must maximize your income, decrease your expenses (ideally to less than twenty-five percent to what you earn), and then you must invest what you have saved into an investment that grows at a high rate of interest but that has a low chance of risk (loss).
The second formula offered is a Millionaire Triangle. This three-part formula is (1) to provide value to people, (2) to do something you are passionate about or can become passionate about, and (3) to use your natural talents. I think life is more enjoyable if you can find a way to earn money doing what you are passionate about but my passions are reading books and going to the beach. I haven't uncovered a way to get people to pay me for these activities yet, but I am forever hopeful. Also, many people believe their art provides value, they are passionate about art, and many people are incredibly talented in that area, but few artists make a large amount of money. The same can be said for singers and actors.
For investments, the author suggests (1) entrepreneurship, (2) an S and P 500 index fund in the stock market, and (3) a credit card that will return at least 2 percent of what is spent so long as the balance is paid monthly. The author does not suggest real estate as viable as an investment. But real estate is the area where many people have earned their fortunes. In fact, surveys have shown that most people who do not retire owning a home, they retire in relative poverty.
Overall, this book is good. It offers a very clear wealth-building formula that is clearly stated in the first section of the book. Although I disagree with the author about real estate not being a good investment vehicle, this book can help people on their path to earning wealth and is worth the purchase price.
