Priceless Investments

Is investment language intimidating? Do financial goals of security, or pursuing a dream or being worry-free of debt seem out of reach? Building a level of personally defined wealth is within a person’s control with investment understanding, sound principles and discipline.

Lipscomb honed his personal investment strategies over two decades. His claim is that he became a millionaire before the age of 40. As an employee in a worldwide computer component manufacturer, the perspective of successful wealth building strategies start and end with this book; unless there he authors another book. Lipscomb’s career is not as a financial planner. Instead, on faith that his ethics are sound as stated, his ideas presented are from personal experience and research. His style makes otherwise a jargon heavy field, understandable and at times entertaining.

Lipscomb focuses on stock investments because it is what knows best and offers rich, plain, anecdotal examples of what to do and what not to do. Adding credence to his own success with stock investing, his book has examples of both hard copy and internet based information sources for improving awareness of the why and how of stocks. The best read to self-educate is the Wall Street Journal and with a “put this book down and call or go online right now,” command, how can this be any stronger stated? Lipscomb refers to investor journals or websites to both read and study as well as to avoid. He does the latter by only emphasizing the sources to select.

Understanding risk and reward in investing is foundational, but what is it really? First, he gives, with several pages of discussion, a dry, dictionary definition of, “risk is the degree of probability of losing various amounts of money during a specified length of time.” Halfway into this level of explanation, he offers the same amount of explanation that most can more easily relate. Risk then becomes more metaphorical. “Like seatbelts and airbags reduced the risk of injury during accidents, dividends reduce the risk of loss while owning stocks.”

Lipscomb’s second to last chapter, specifically titled, “Be Ethical, Be Vocal,” spotlights investor’s ethics. He talks about high profile cases including Martha Stewart’s illegal gain from insider trading. The aim of the chapter encourages stockholder participation in company votes, board meetings and conversations with executives. Well rounded involvement encourages all stakeholders to do the right thing. Lipscomb’s own ethics appear through every chapter as he cites examples like this one that he faces in his investing. Achieving Prosperity makes an otherwise complicated personal life endeavor for many, easy and down to earth. It’s an encouragement and motivator for anyone wanting to control his or her financial future.

-ForeWord Clarion Reviews by Patricia Weber

Achieving Prosperity: A Realistic, Ethical Guide to Building Wealth by Todd Lipscomb; AuthorHouse; Publication date, 2006; Page Count: 145 pages; ISBN: 1-4259-4513-9

By: Patricia Weber

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