Jennifer Openshaw - The Millionaire Zone: Seven Winning Steps to a Seven-Figure Fortune

THE MILLIONAIRE ZONE

Seven Winning Steps to a Seven-Figure Fortune

JENNIFER OPENSHAW

To everyone who has ever dreamed of a better life

Contents

T his book is designed to provide accurate and authoritative information regarding the subject matter. It is published with the understanding that the publisher or author is not rendering legal, accounting, financial, or other professional services. If legal, financial, or other professional advice is required, the services of a certified professional should be sought. As each individual is unique, questions specific to an individuals personal finances should be addressed to an appropriate professional.

The stories featured in this book are based on real people. However, some of the names or other personal information have been changed to protect their privacy.

T o better understand how millionaires achieve their financial success, as well as to understand what holds other Americans back from that kind of success, the author hired two independent research firms to conduct two surveys. In all, more than 3,000 Americans were surveyed.

The first survey was conducted by Harris Interactive among working Americans. This survey was conducted online between July 19 and July 21, 2006, among 2,653 U.S. adults 18 years of age or older. The results were weighted for region, age, gender, education, household income, and race/ethnicity to match them to their actual proportions in the population.

The other survey was conducted by Chicago-based Spectrem Group. This survey was of 500 high-net-worth Americans via telephone. The respondents all had investable assets of at least $500,000. The respondents were then separated to create results for two groups: those with a net worth of $1 million or more, excluding the value of their primary residence; and those with a net worth of less than $1 million. The results for the first group are generally reported in this book. However, where referenced, results have also been reported for the second group, to highlight additional insights.

Another survey of approximately 50 owners of companies with revenues averaging $11 million was conducted by the author.

In addition, the author accessed publicly available information on select members of the Forbes 400 Richest Americans list to identify those who have used and applied the strategies discussed in this book. She also relied on more than 100 interviews with wealthy Americans.

J ust as you need your LifeNet to reach the Millionaire Zone, so too did I need my LifeNet to launch The Millionaire Zone! Im enormously grateful to the Americans whove inspired me over the yearsreaders, viewers, seminar attendees. You and your stories touch me daily and keep me passionate about what I do. Please keep sharing!

At ABC Radio, I want to thank Kevin L. Miller for his belief in me, for truly being a partner, and for lighting a fire under me to do this book. Thanks also to John McConnell, George Spanos, Corney Kohl, and Keven Bellowsyou have all been enormously supportive in my radio endeavors.

For seven years, Ive written for MarketWatch.com, now a division of Dow Jones, and have had the great pleasure of working with such high-caliber people as editor-in-chief Dave Callaway and editor Steve Kerch. My friends at AOLs Money & Finance sectionBill Wilson, Marty Moe, Steve Gaitten, Jamie Hammond, Alan Halprin and Amey Stone, Jennie Baird, and Alysia Lewyouve all been terrifically creative, open-minded, and supportive. Thank you!

When I met the publishers and editors at HyperionBob Miller, Ellen Archer, and my editor, Gretchen YoungI was overwhelmed by their enthusiasm. Its the kind I talk about in the book. Thats how I knew I was home. Every day as a question came up or a need arose, youve been right there, always being your best so that I could be mine. It has made all the difference.

Special thanks to Marcia Firestone, founder of the Women Presidents Organization, and Jim Weldon, a long-time friend and entrepreneur, who connected me to some of those featured in this book. Deanna Percasi and Kathy Steinberg at Harris Interactive and Cathy McBreen and Tom Wynn at the Spectrem Group brought invaluable expertise and professionalism to our surveys.

I work daily with several people who help make it all happen. Charlie Benard, whose knowledge, experience, and belief in me in the early days have been a source of strength. Thanks go to Peter Sander and his wife, Jennifer, who worked with me on my first public television show, for bringing your terrific editing skills to my work and for always so graciously sharing your creative minds. My brother Jeff Openshaw is my audiovisual guru, and Rosa Maulini has provided administrative support for some seven years now. Maureen Monfore, research assistant on this book, enriched it with marvelous features of many on the Forbes 400 Richest Americans list. Andrea Coombes, a dear friend who brought life to my wordsI dont know how we did it so quickly, but we did, thanks to you!

My mother and father, Rosemary and Pete, continue to be a great support and inspiration. I thank you for being there every day with your words of love and encouragement. Mom Bette, Amy, and Reedmy East Coast familyhave made my move from the West Coast simply a redefinition of my Comfort Zonewith all the accoutrements that go with it!

Finally, to my better half, Randy Schwimmer, who blesses me every day in ways I never imagined possible. You have been a partner in this entire project, and so much more. You brought your incredibly creative mind and superb editing skills to this endeavor. You were patient and understanding when there were deadlines to be met. And, always, you shared my passion for the ideas in this book. Not a day goes by when I dont see, through you, the power of using ones LifeNet.

Im on National TV

I ve just finished taping a national television show before a live audience, and Im pumped, really pumped. As I walk offstage, Chers Believe blasts at high volume. The 300 people in the audience are keyed up by the lights, music, cameras. The families who shared their heart-wrenching stories about their financial lives moved us all. I feel like Ive made a difference.

As I move past the control room where buttons are pressed and levers are pulled to make the magic of national television come into your home, a sea of people comes up to me, peppering me with questions.

Should I invest in real estate?

How can I get rid of my credit card debt?

What do I do with my inheritance money?

Should my husband and I have separate checking accounts?

People ask me these types of questions all the time.

But then a woman in her mid-forties, attractive with brown medium-length hair, comes up to me.

Jennifer, my name is Laura and I loved the show, she gushes. It was really helpful. Tons of information. Im really motivated. But...

I knew there was a but coming.

So how can I help you? I ask.

The look on her face suddenly changes. Now, instead of excitement, I can see fear in her eyes. Its a look Ive seen before. Many times.

Laura hesitates a moment. Well, I want to move forward. I want to make money, provide for my family, and create a real safety net.

So whats holding you back?

I just dont know where to start, she says. I feel frozen. Im confused. Ive read a lot of those books out there but Im still left feeling like...well, like its all on my shoulders. And frankly, its pretty scary.

My Eureka! Moment

Thats when it struck me. I had been accumulating evidence for many years, but for some reason Lauras sincerity and intensity brought it home to me: Real financial successmaking moneyis not a tax issue, an insurance issue, or a stocks vs. bonds issue. In fact, its not about money at all. Its about fear. The road to the Millionaire Zone, as I call it, is all about overcoming the anxiety about changing your life, yet operating in a familiar place so you can shift your future from neutral into high gear.