Carlson's most recent book, Eight Steps to Seven-Figures, describes characteristics of a sample of 170 millionaires who achieved wealth from investing. Carlson discussed highlights from his book and tips for investing in stock directly without a broker. Time is an investor's greatest ally. Many of the millionaires that were profiled started investing in their twenties or thirties. Establish a Goal.
Goals provide motivation and direction.
Buy Stocks and Stock Mutual Funds. Stocks provide the best chance for growing money over time. To find out how long it takes for a sum of money to double, choose a rate of return and divide it into 72. Bonds and cash assets, on the other hand, take much longer. Carlson noted that stocks create wealth and bonds and cash assets preserve wealth.