I’m trying to catch up on my reading, and I was finally able to get to my fellow Ballantine Books author Alan Corey’s very smart book on how to make a million bucks by the age of 30.  Specifically, as the cover proclaims, the book teachers twenty-somethings how to overcome a crap job, stingy parents, and a useless degree to accumulate enough assets to set you up for life.

Alan’s personal journey is facinating.  After graduation he moved to one of the most expensive cities in the world, save and invest 61% of his $40K salary, get a popular reality TV show to decorate his apartment for free, and buy his first commercial building in a transitional neighborhood at age 23.  According to Alan, he made his dream happen one day at a time, penny by penny, via what he calls “extreme cheapskate strategies.”  So what are some of these corner cutters?  Among his thoughtful suggestions:

·         Target a neighborhood or area you’d like to invest in, and go to every single open house.  After 30-50 events, you’ll have a solid and accurate grasp of the current market value of real estate in the area.  Then, when you find that great, undervalued bargain, you smile a big, toothy grin. 

·         Never buy an umbrella:  When it’s raining, just walk into any restaurant and ask to see their lost and found. Don’t feel guilty.  When you’re done with it, leave the umbrella at another restaurant.  It’s a bit like recycling, and it’s good karma too.

·         Call your credit card company every six months to get a lower interest rate and to increase your credit limit.  Threaten to sign up with a new card if they can’t.  They will scramble to keep your business.

·         Fill out comment cards at every possible fast food restaurant.  Many will follow up with complimentary food and/or gifts.

·         Never buy bottled water.  Go to any fast food joint to get a free cup of water.  If you need some flavor, load your cup up with free lemons and artificial sweetener for some bargain ice-cold lemonade.  

The best thing about this book is that you don’t have to duplicate Alan’s strategies exactly to have just a few of them make a measurable difference in how much money you’re putting away.