Dellinger Elisabeth - The ten roads to riches: the ways the wealthy get there (and how you can too)

Second Edition

KEN FISHER
WITH LARA W. HOFFMANS AND ELISABETH DELLINGER

Fisher Investments Press brings the research, analysis, and market intelligence of Fisher Investments research team, headed by Executive Chairman and New York Times bestselling author Ken Fisher, to all investors. The Press covers a range of investing and market-related topics for a wide audiencefrom novices to enthusiasts to professionals.

Beat the Crowd

Debunkery

How to Smell a Rat

Markets Never Forget (But People Do)

Plan Your Prosperity

The Little Book of Market Myths

The Ten Roads to Riches

The Only Three Questions That Still Count

100 Minds That Made the Market

The Wall Street Waltz

Super Stocks

Own the World by Aaron Anderson

20/20 Money by Michael Hanson

Fisher Investments on Consumer Discretionary

Fisher Investments on Consumer Staples

Fisher Investments on Emerging Markets

Fisher Investments on Energy

Fisher Investments on Financials

Fisher Investments on Health Care

Fisher Investments on Industrials

Fisher Investments on Materials

Fisher Investments on Technology

Fisher Investments on Telecom

Fisher Investments on Utilities

Cover image: (background) tusumaru/Getty Images

Cover design: Michael J. Freeland

Copyright 2017 by Fisher Investments. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Names: Fisher, Kenneth L., author. | Hoffmans, Lara, author. | Dellinger, Elisabeth, author.

Title: The ten roads to riches : the ways the wealthy get there (and how you can too) / Ken Fisher ; with Lara Hoffmans and Elisabeth Dellinger.

Description: Second edition. | Hoboken, New Jersey : John Wiley & Sons, Inc., [2017] | Includes bibliographical references and index. |

Identifiers: LCCN 2017004045 (print) | LCCN 2017014327 (ebook) | ISBN 978-1-118-44505-1 (Adobe PDF) | ISBN 978-1-118-44503-7 (ePub) | ISBN 978-1-118-44507-5 (cloth)

Subjects: LCSH: Success in business. | Wealth. | Success.

Classification: LCC HF5386 (ebook) | LCC HF5386 .F415556 2017 (print) | DDC 332.024/01dc23

LC record available at https://lccn.loc.gov/2017004045

This books first version came out at the worst possible time: autumn 2008, when global markets seemed bound for hell in a handbasket.

In hindsight, Im lucky it merely fell through the cracks, escaping much notice as the global financial crisis wrecked markets and ended Wall Street as we knew it. The backlash over a book lauding wealth buildingwith tongue occasionally in cheekat such a dark time could have been huge and harsh. Look at old, out-of-touch Ken Fisher, fiddling with books while Wall Street crashes! Get rich? In this market? As if! Most observers probably wouldnt have cared that books have incredibly long lead times, that I did most of my writing over nights and weekends in 2007, or that the release date was scheduled months in advance, before anyone much cared about Lehman Brothers liquidity. Thank goodness for small mercies.

At the same time, it also made me a little sad. Ive always liked this little book. It was a departure for meunlike my prior books, it wasnt a heavy exploration of capital markets. Instead, it was (and is) a detailed micro and macro inspection of how really wealthy people got that way and how you could (still can!) get there, toowith many fun stories and personal anecdotes along the way. One of my goals was to help remove the stigma around wealth. Even back then, before income inequality became the hottest topic in political economics, there was a growing sense that wealth was something to be ashamed of. Ive always believed the opposite: When you get rich in an appropriate way, you make the world a better place. You create wealth not just for yourself but for society. Others benefit from your efforts. I wanted folks to know how to do this back then, and I still do.

Since this book first appeared, society has only become more hostile to wealth, not less. Weve had the Occupy Wall Street movement and the vilification of the so-called One Percent. The growing backlash against income and wealth inequality. Politicians building entire careers on wanting to cut the rich and corporations down to size and spread the wealth. Survey after survey showing millennials turning their backs on capitalism, desperate for a new system that actually works. Bernie Sanders barnstorming 2016 presidential campaign, where over 12 million Democratic primary voters picked the socialist senators political revolution against an obscene wealth gap and corporate greed. And of course the political rise of Donald Trump, a billionaire pitching himself as the champion of the forgotten everyman.