Rating: 
Summary: Finally! A Plan for TRUE Financial Independence
Review: The first time I came across John Cummuta's material on getting out of debt and building wealth, it captivated me---like being a person blind, seeing the world for the very first time. John explodes the financial myths that are peddled by the mainstream press (and I always believed) like 1) Not paying off your mortgage because of the tax deduction; 2) Building up an emergency fund of six months or more before paying down debt; 3) How the Madison Avenue version of success (new luxury cars, McMansion houses in prime locations, etc.) are the most fulfilling and what everyone should pursue. John not only explodes these myths, he gives you a REALISTIC system for paying off all debt in five to seven years WITH THE MONEY YOU'RE ALREADY MAKING (isn't that a relief? You don't have to give up your life and start "flipping" real-estate properties or become a business owner!) and building wealth so that you can achieve whatever lifestyle is important to you. John's program will give you the most precious thing in life: FREEDOM. I now have the freedom from worrying about my bills every month, the freedom of time to spend with my precious wife and children, and the freedom to life the lifestyle I want to live---not the Madison Avenue version, my version. In my book, this product is worth more than gold.
Rating:
Summary: Lawrence M. Ludwig from Babylon, NY USA is a financial idio
Review: The one negative review given by Lawrence M. Ludwig from Babylon, NY USA above is a financial abomination. He has no clue what the basic premis of debt is, so I will clarify that for him. "Debt makes things cost more" Why would you purposely spend more than the original sale price of an item? To invest? Using his house analogy: He states you can put $20,000 (20%) down on a $100,000 house than might appreciate 5%. Therefore, thanks to borrowing the other 80%, you might make a 20% return on your investment! SOUNDS GREAT! There are about a hundred loopholes here but I will focus and share with them the top two: 1) Just as that house (or ANY other investment) MIGHT appreciate in value, it can also DEPRECIATE in value, it happens everyday. In fact, over 90% of investers in wall street lose money! There is never a guarantee of return on any investment. Ever hear, "past performance is no guarantee of future performance"? That disclaimer is there for a reason! 2) Bonehead forgets to inform you that in order to give the property time to POSSIBLY appreciate (1 year) you have to pay a mortgage on $80,000. Would you like to know how that mortgage is amortized? Heres how it works: your mortgage payment, based on a 30yr, 6.5% loan would be $505 per month, this is interest and principal only. Of that payment, only $73 per month goes toward reducing pricipal. The interest alone amounts to $5,173 after 12 months. Factor mandatory insurance and property taxes that you will have to pay just for owning it and his great investment idea that MIGHT appreciate 5% is losing a least $1000! What happens when he goes to sell it? Well, he will most likely need to hire a realtor who charges 6% comission on average, taken right off the top. Lawrence M. Ludwig from Babylon, NY USA , is extremely ignorant of how expensive debt is. Instead of bashing an author such as Mr. Cummuta, he would do well to educate himself. On a final note, this consulation to Mr. Lawrence M. Ludwig from Babylon, NY USA is entirely complimentary, your welcome.
Rating:
Summary: Lawrence M. Ludwig from Babylon, NY USA is a financial idio
Review: The one negative review given by Lawrence M. Ludwig from Babylon, NY USA above is a financial abomination. He has no clue what the basic premis of debt is, so I will clarify that for him. "Debt makes things cost more" Why would you purposely spend more than the original sale price of an item? To invest? Using his house analogy: He states you can put $20,000 (20%) down on a $100,000 house than might appreciate 5%. Therefore, thanks to borrowing the other 80%, you might make a 20% return on your investment! SOUNDS GREAT! There are about a hundred loopholes here but I will focus and share with them the top two: 1) Just as that house (or ANY other investment) MIGHT appreciate in value, it can also DEPRECIATE in value, it happens everyday. In fact, over 90% of investers in wall street lose money! There is never a guarantee of return on any investment. Ever hear, "past performance is no guarantee of future performance"? That disclaimer is there for a reason! 2) Bonehead forgets to inform you that in order to give the property time to POSSIBLY appreciate (1 year) you have to pay a mortgage on $80,000. Would you like to know how that mortgage is amortized? Heres how it works: your mortgage payment, based on a 30yr, 6.5% loan would be $505 per month, this is interest and principal only. Of that payment, only $73 per month goes toward reducing pricipal. The interest alone amounts to $5,173 after 12 months. Factor mandatory insurance and property taxes that you will have to pay just for owning it and his great investment idea that MIGHT appreciate 5% is losing a least $1000! What happens when he goes to sell it? Well, he will most likely need to hire a realtor who charges 6% comission on average, taken right off the top. Lawrence M. Ludwig from Babylon, NY USA , is extremely ignorant of how expensive debt is. Instead of bashing an author such as Mr. Cummuta, he would do well to educate himself. On a final note, this consulation to Mr. Lawrence M. Ludwig from Babylon, NY USA is entirely complimentary, your welcome.
Rating:
Summary: Get out of Debt
Review: This audio book is one of the worst financial books I have read or listened to. The previous poster is either two things:
1-The author trying to hype his book (I've seen the same comments, from the same reviewer on another web site)
2-This person has never read any other financial book I usually don't make comments on Amazon but thought I must comment on this to keep people AWAY from this audio book!!!!! The audio book can be summed up to this:
1-Get rid of your debt
2-After getting rid of your debt, don't have any new debt
3-Live in the middle of no-mans land to buy property at $500.00 an
4-Cut out coupons, and find ways of saving pennies while missing out on saving dollars
5-Live frugally Also do we REALLY need to go into detail on how to maintain a car???? Leave that to auto repair books thank you. Yes it's true most of America lives in too much in debt. Though, debt used properly to purchase assets can make you weathly. The debt reduction system he discusses, is available in many forms on the web and via finanical packages like Quicken. It also sounds like this audio book is repackaged from somewhere else. The author fails to really discuss how debt (used as leverage) can make you more money. A perfect example is real estate rentals. He says Real Estate is a poor investment becuause it only increase in value only 5% per year. This is true! BUT he fails to mention if you have only a small amount (say 20%) of money in the investment, you make much MORE than 5% per year. EX:
House $100,000.00
Increase $5,000.00 (after one year)
TOTAL VALUE $105,000.00 Down payment $20,000.00
ROI (Return on investment) $5,000.00/$20,000.00=25% This of course doesn't include closing fees and taxes and the positive cash flow you can get from real estate rentals. Instead of reading/listening to this, look at these books instead:
-Rich Dad, Poor Dad by Robert T. Kiyosaki
-The Road to Wealth: A Comprehensive Guide to Your Money--Everything You Need to Know in Good and Bad Times
by Suze Orman
Rating: 
Summary: POOR!!!!!
Review: This audio book is one of the worst financial books I have read or listened to. The previous poster is either two things:
1-The author trying to hype his book (I've seen the same comments, from the same reviewer on another web site)
2-This person has never read any other financial book I usually don't make comments on Amazon but thought I must comment on this to keep people AWAY from this audio book!!!!! The audio book can be summed up to this:
1-Get rid of your debt
2-After getting rid of your debt, don't have any new debt
3-Live in the middle of no-mans land to buy property at $500.00 an
4-Cut out coupons, and find ways of saving pennies while missing out on saving dollars
5-Live frugally Also do we REALLY need to go into detail on how to maintain a car???? Leave that to auto repair books thank you. Yes it's true most of America lives in too much in debt. Though, debt used properly to purchase assets can make you weathly. The debt reduction system he discusses, is available in many forms on the web and via finanical packages like Quicken. It also sounds like this audio book is repackaged from somewhere else. The author fails to really discuss how debt (used as leverage) can make you more money. A perfect example is real estate rentals. He says Real Estate is a poor investment becuause it only increase in value only 5% per year. This is true! BUT he fails to mention if you have only a small amount (say 20%) of money in the investment, you make much MORE than 5% per year. EX:
House $100,000.00
Increase $5,000.00 (after one year)
TOTAL VALUE $105,000.00 Down payment $20,000.00
ROI (Return on investment) $5,000.00/$20,000.00=25% This of course doesn't include closing fees and taxes and the positive cash flow you can get from real estate rentals. Instead of reading/listening to this, look at these books instead:
-Rich Dad, Poor Dad by Robert T. Kiyosaki
-The Road to Wealth: A Comprehensive Guide to Your Money--Everything You Need to Know in Good and Bad Times
by Suze Orman
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