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CNBC’s The Millionaire Inside: Battle Of The Get-Rich Guru Soundbites

Posted On : Nov-28-2010 | seen (1043) times | Article Word Count : 446 |

Is it just me, or is CNBC Television turning out to be the financial network for those with 18-second attention spans? (Not that I’m not of their target audience!) Last night, I happened to catch their new sequence referred to as The Millionaire Within, which is supposed to bring together today’s “top dollars mentors” and share their secrets to accomplishment.
Is it just me, or is CNBC Television turning out to be the financial network for those with 18-second attention spans? (Not that I’m not of their target audience!) Last night, I happened to catch their new sequence referred to as The Millionaire Within, which is supposed to bring together today’s “top dollars mentors” and share their secrets to accomplishment. The first episode, Your Guide To Wealth, included the following guests:

* David Bach, author of The Automatic Millionaire (my review)
* Phil City, “Rebel investor”, author of Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!
* Loral Langemeier, “master coach and financial strategist”, author of The Millionaire Maker
* Barbara Corcoran, “real estate maven”, author of If You Don’t Have Big Breasts, Put Ribbons in your Pigtails

Even though I’ve never even heard of the last two, I actually had some hopes for this show… but after watching it I was completely underwhelmed. It was 30 minutes of each guru taking turns rehashing their same, old, vague sound-bites as to the best way to become a millionaire. In fact, the only amusing part was when Phil Town bashed real estate as a stupid investment compared to stocks, and the real estate folks started to get whipped in a tizzy. Here’s are the rest of my episode notes:

David Bach says:
- You can’t get rich with a budget. (How helpful!)
- Pay yourself first, make it automaticTM
- Buy a home as soon as possible, don’t rent.

Phil Town says:
- 15% annual return in stocks can be achieved with 15 minutes of research a week.
- Buy companies you know, when they are “on sale”.
- Rule #1 is “Don’t lose money”
- Don’t buy genuine estate, buy REITs instead

Loral Langemeier says:
- Be your own boss
- Make your own “cash machine” by starting your own business
- It’s okay to straddle, or keep your own job for a while.

Barbara Corcoran says:
- The shortcut to wealth is real estate
- Now is the perfect time to buy real estate, when everyone is unsure
- Set a goal to buy your 1st investment property in 6 months

Motivational? A little bit. Good advice? Some of it is, some of it is highly questionable. Vague? Nebulous? Oversimplified? YES.

Maybe the next few episodes will actually provide something actually practical or actionable, but I’m not holding my breath. If you don’t get CNBC, you are able to also download it for free on iTunes (search for “Millionaire Inside” or try this link.).





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Watch The Millionaire Inside as CNBC's Money Mentors share their exclusive secrets and techniques to accomplishment with you. If you don’t get CNBC, you can also Watch The Millionaire Inside Online

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