The Ten Roads to Riches

Profiles of some of America's richest people and how they got that way—and how you can too!

While we can't promise that this book will elevate you to the ranks of the super-rich, we can say that within its pages you'll discover everything you need to know about how, exactly, many of America's most famous (and infamous) millionaires and billionaires acquired their fortunes. The big surprise is that all of the super-wealthy it profiles got where they are today by taking one of just ten possible roads—including starting a business, buying real estate, investing wisely, and marrying extremely well. Whether you aspire to shameful wealth or just a demure fortune, bestselling author and self-made billionaire, Ken Fisher, will show you how to walk in the footsteps of tycoons—all the way to the financial success you dream of and deserve.

• Packed with amusing anecdotes of individuals who have traveled (or tumbled) down each road to wealth
• Extracts valuable lessons on how you, too, can achieve serious wealth, and, just as importantly, hold onto it
• Provides powerful tools for determining what you need to do to position yourself for success and "Guideposts" and "Warning Signs" to help keep you safely on your road to success
• Second Edition features more profiles and instructive examples than were found in the bestselling first edition

Preface: Now, More Than Ever ix

Acknowledgments xxiii

About the Authors xxvii

Chapter 1 The Richest Road 1

Picking a Path 3

Newer or Better? 4

Built to Sell or Built to Last? 6

Bootstrap or Finance? 10

Public or Private? 11

The Big Bull’s-Eye 13

Founders Are Quitters—Just Do It 17

Chapter 2 Pardon Me, That’s My Throne 23

Gray Hair and Dues-Paying 24

A CEO-volution (Through My Father’s Eyes) 25

How to Lead 33

How to Get the Job 34

Aim Small . . . at First 36

The Big Payday 37

CEOs and Superheroes 40

The Best Part 43

Executive Education 43

Chapter 3 Along for the Ride: Ride-Alongs 47

Why Ride Along? 48

Pick the Right Firm 50

Be the Right Guy 55

Ride-Along Reading 59

Chapter 4 Rich . . . and Famous 61

The Talent Show 63

Potholes Ahead No One Sees! 67

Mogul Meandering 72

Read Your Way to Fame 78

Chapter 5 Marry Well. Really Well 81

How to Marry a Millionaire Billionaire 83

Like a Fine Wine—Well Maintained 90

Men Can Play, Too! 93

Love, Marriage, and Money 96

Do It by the Book 97

Chapter 6 Steal It—Like a Pirate, but Legally 99

Crusader or Pirate? 100

Raider’s Road 101

The Richest Legal Road 103

Tort Us and the Scare 104

Target Practice 112

When a Pirate Becomes a Villain 115

The Inside Track 117

Chapter 7 OPM—Not Opium: Where Most of the Richest Are 121

Basic OPM Career Rules 122

Steps to OPM Wealth 124

Hedge Your Bets 130

Private Equity’s Big Bucks 135

Don’t Break the Law 137

Love Capitalism, Not Social Acceptance 142

Chapter 8 Inventing Income 145

The True Inventors 146

Writing for Dollars 148

Political Pensions—and Good News 153

If You Can’t Be President . . . 155

Think Tanks Run Amok—a Sham-Scam 159

Monetized Reading 161

Chapter 9 Trumping the Land Barons 165

The Magic 166

Monetize It 166

The Fool’s Bargain 169

Flippin’s for Friggin’ Losers 171

Getting Started 172

Buy, Build, or Both? 175

Where to Be and Not to Be; That Is the Question 177

Baron Books 181

Chapter 10 The Road More Traveled 183

Income Matters 184

Saving Grace 186

Get a Good Rate of Return (Buy Stocks) 191

The Right Strategy 194

Bonds Are Riskier Than Stocks—Seriously 202

Like Hetty? 205

Reading for Dollars 206

Notes 209

Index 227

KEN FISHER is best known for his prestigious "Portfolio Strategy" column in Forbes magazine. As well as being the longest-running continuous columnist at the publication, he is the founder and Executive Chairman of Fisher Investments.

ELISABETH DELLINGER is an analyst at Fisher Investments and senior editor of MarketMinder.com. She is also coauthor of Beat the Crowd with Ken Fisher.

LARA W. HOFFMANS has coauthored numerous bestsellers with Ken Fisher, including The Only Three Questions That Count, How to Smell a Rat, and Plan Your Prosperity.

Ken Fisher—self-made billionaire, bestselling author, longtime Forbes columnist, and industry influencer—revisits one of his most personal studies on how the wealthy achieve their success. Drawn from his work with a vast, high-profile list of clients and his own firsthand trials and errors at making it big, this refreshed and revised edition of The Ten Roads to Riches divulges new insights into Ken's investing techniques and wealth-building tips through an expanded collection of real-life successes, failures, and flops.

Through his own storied career, Ken has yet to discover any singular formula for getting rich. Instead, he's observed ten distinct roads, each with its own challenges and rewards. In this action-inspiring guidebook, he walks you down them all with enough dynamism and facts to make every one appealing. The road you take—your road to riches—is up to you. Whether you have your eyes set on the types of fortunes held by the multibillionaires inside or simply a nest egg that will improve your standard of living in retirement, this engaging and informative Second Edition takes you far beyond the previous edition by enhancing the endlessly useful, illustrative road map to all the ways people acquire wealth with actionable advice based on Ken's core money strategies. Through memorable narratives and hard-won advice you can turn to for inspired decision making, this everyday resource shows you:

• Rich is not a bad four-letter word—go after the wealth you deserve without feeling guilty
• Some marry into it, others steal it (legally!), and a few are born into it—rules of thumb at the end of each chapter for a successful journey down every road
• How to hold onto it! You can't get rich foolishly losing money

Know how to position yourself for success on the specific road you're on with The Ten Roads to Riches, Second Edition.

AN UPDATED AND EXPANDED LOOK AT THE ROADS LEADING TO AMERICA'S RICHEST PEOPLE

Legendary money manager, billionaire, and industry thought leader Ken Fisher opens his personal collection of stories, sharing practical strategies and tools to help you navigate The Ten Roads to Riches.

This thoroughly revitalized Second Edition explores the ten tried and true roads to becoming ultra-wealthy, including being an entrepreneur, acquiring real estate, making wise investments, and even marrying into it. Rich with rarely heard anecdotes that are as illuminating as they are entertaining, this influential resource enables you to follow in the footsteps of those who have traveled down each road to wealth, while avoiding the same penniless fate of those who tumbled. Keep this valuable guide at your fingertips to:

• Master powerful tools for shaping and ensuring success along your journey
• Reference convenient, brand-new "Guideposts" and "Warning Signs" to help you avoid potholes on your road to wealth
• Examine more up-to-date profiles and instructive examples than in the previous bestselling edition

Get rich the way you were meant to do it with The Ten Roads to Riches, Second Edition.