To everyone who posted their own favorite books, thank you. I started with a reading list I got from a self-improvement seminar (the most valuable thing I got from that one), and one book led to another. Then I started talking to friends who said, if you enjoyed that, you'll also like this. I appreciate each and every recommendation. Julie mentioned The Next Millionaires... I've read that and was very excited to find I've chosen the right business arenas, lol. Dave, thanks in particular for the offer of a free e-book that looks like a good one. Judy H., thank you for your kind words. I'm not sure whether you are referring to Dave's e-book recommendation or to my upcoming one from my website. That one isn't available yet, but my friends at Adland will be among the first to know when it is. Thanks to everyone who congratulated me on our purchase...which isn't our first home, but our first investment property. We hope several more are soon to follow. There are several of you whose posts each had an insight that I hope I've included in other comments, though I know I haven't mentioned all your names. I appreciate all of you. Cheri

Leon, First, no apology is necessary. It takes time to get to know someone, and we have gone further down that road than many online friends. It is a natural assumption to think I'm selling the idea of being debt-free, because I truly believe that is the first rule. How can one justify spending money on investments when the return on that investment may not equal the outgo on interest payments on consumer debt? That's just my opinion. I'm by no means an economic expert--just someone who learned to manage cash flow early on but was duped, as have been many of my generation, into the wrong debt-management and debt-elimination techniques and absolutely the wrong idea about wealth-building. I'm familiar with Dave Ramsey, but I have a fundamental disagreement with him about the relative importance of being debt-free. I think it's only half the job! You see, after a lifetime of seeing for ourselves that there is no real security in most jobs, I don't believe that your income (in the traditional sense of employment income) is your only wealth-building tool. In fact, I think one's attitude is a far more important wealth-building tool. I could make a whole other list of books by Suze Orman, David Bach and other wealth-building experts, and all of them would have excellent information, as would Mr. Ramsey's. The reason I haven't is that the theme of the forum where my list resides is changing one's attitude toward success. Maybe this forum, which is about money, would be a good place for the money book list--if I can find anyone whose ideas I agree with in whole, lol. And the way this thread is going, it may belong in the other forum! Guess I'll have to cross-reference. Thanks for the opportunity to clarify...I didn't realize I was sending an incomplete impression. Cheri

Diana, I meant to answer you separately earlier, too, because in your first post, you mentioned a term I'm not familiar with--RRSP. You're welcome to explain it here if you'd like, or please private message me about it. I'd like to know what it is. As for your second post, that's exactly where my thoughts were last summer when I was fortunate to be able to attend a workshop on self-limiting belief. That workshop allowed me to crystalize the central message of all the reading I'd been doing and the inspiration came to me that it really is never too late. I had a great example in my grandfather, whose story will appear on my website in the near future. Once that belief came to the forefront, I knew I had to communicate it, precisely because there are others out there who are having the same thoughts. You have validated that. What a tragedy if we don't contribute all we can to the world by accomplishing what we were meant to! Maybe I will adopt Ms. Eliot's quote as the title for my e-book. I'll certainly be using it in some way, because it more perfectly communicates what I mean when I say it's never too late for success. Do visit some of the other threads in that forum--here's the link: Never Too Late. I hope they help you weather the winter doldrums and recognize your intrinsic value. Cheri

Marsha, Thanks for dropping by and mentioning FGG. That is indeed an option, and I'll review it again in the near future. The spec home we're having built is being taken care of from lot selection to sale by a local company that designed their business model around the small investor. We are responsible only for a small amount of earnest money, which secures the lot, and the construction loan. In six months or less, when the house sells, we split what would have been the builder's profit after paying off the construction loan with the proceeds of sale. It's between a 300% and 500% cash-on-cash ROI (double those numbers for annualized) for very little risk in this hot real estate market. One thing that reduced our fear on this one is a thorough understanding of the industry and the market due to my being a real estate broker. Otherwise a "too good to be true" doubt might have stopped us. Cheri

Hi Cheryl. Thanks for your encouragement. About the R.R.S.P. It means Registered Retiement Saving Plan. This is a plan that we can contribute into as soon as we have our first social insurance number adminitstered by the government when you get your first job. You can contribute to it at any time and save a good chunk of income tax each year according to how much you contribute. You can take it out for a down payment on a house and make payment back into it to pay the amount off. Within a R.R.S.P you can administer it to different plans such as Mutual funds and other places where it earns a percentage for you. We also have a R.I.F. I think that stands for registered income funds that this R.R.S.P. must be tranfered to when you reach the age of 69 and begin to get a monthy check from it. Then there is a R. E. P registered educational Plan. This can be used for your childrens education when they enter university or colledge. All this is at extremely low or no income taxes until you use it.You can put these savings into low medium or high risk mutuals or other thing that I'm not too sure about. So there you have it. I hope this was explained so you can understand it. You probably don't have it in the U.S. Thanks for asking. Also the main thing is to take it out when your income is low. From Diana http://mapleridgemarketplace.com/