Comments on: Why Didn’t Anyone Teach Me This Review

By: Eric Mintz

Eric Mintz — Tue, 20 Oct 2009 22:24:53 +0000

Just an update for you all – David Newby did come through recently and refunded the $500 to my wife and I. Just wanted to let those who read this blog that David Newby did make amends.

By: Eric Mintz

Eric Mintz — Thu, 10 Sep 2009 22:23:11 +0000

David Newby is scam artist and a complete fake. His book is designed to get you to buy into his expensive programs and then he’ll leave you high and dry. My wife and I bought his 5K course and when he didn’t deliver we had to fight to get the charges disputed. Finally, we got the credit card company involved and were able to get most of our money back. He still owes us $500 and we can’t get a hold of him. FAKE! SCAMMER! LIAR! STAY AWAY FROM THIS BOOK AND DAVID NEWBY!

By: Isabel Roman

Isabel Roman — Tue, 01 Sep 2009 20:28:28 +0000

I may be pronouncing his name wrong, but it looks like comment #11’s…NEWBIE, meaning the new guy. Could have skewed my take on ths subject.

By: David Newbie

David Newbie — Tue, 11 Aug 2009 12:36:41 +0000

I have the same last name and man what a waste of time this guy is. He’s Lamborghini come to find out if a complete fake. It’s a Kit car and the checks he brags about on his site are nothing but made up quickbook checks. He’s a phoney and dangerous to the uneducated. GREAT REVIEW!!!!

By: Carl

Carl — Fri, 09 Jan 2009 16:47:03 +0000

Everyone thinks they are an expert. I guess it’s up to the community to screen what’s good and bad. Thanks for the review.

Thanks for the correction on “Andrew”. A lot of people don’t get that right. I work with Doug Andrew in his firm. Solid advice. And still working better than ever right now in this economy.

http://www.missedfortuneblog.com

By: Martin

Martin — Fri, 24 Oct 2008 12:17:34 +0000

Seems to me this is another in the long line of “get rich quick” scams. They all follow some general themes.

Let’s see, they often:

-Claim they have something new to say, though it’s usually pretty old
-Claim you should look rich, hang out where the rich do, etc. to attract rich into your life
-Use the big print, lots of “spaceless” pages, etc. to make the book look weighty
-Are short on key specifics with respect to their “program” (that’s what the other books/seminars/classes are for)
-Bring up bogus examples that when you really look at them make no sense or have questionable moral/legal/ethical actions
-Contradict themselves, their stories, their history, their recommendations from one section to the next depending on their point
-Spend lots of time talking “financial education” then pitches their classes/books/seminars, etc.

If they’ve done a good sales job using the book as a hook, you’ll move to the next phase and buy more.

They often mix in some actual, solid advice, to lend weight to their claim they have an answer for you, if only you’ll take that next step and go to their seminar, buy the next book, or attend their weekend retreat.

By: Start-Up

Start-Up — Thu, 23 Oct 2008 14:38:30 +0000

that sounds like an awful book. I feel like my reaction after reading the book would probably be eerily similar to the reaction to billy madison’s lost dog story. I would feel dumber after reading such a book.

Becky, stay away from this book. check out “A Random Walk Down Wall Street” or “The Four Pillars of Investing”

By: Becky

Becky — Thu, 23 Oct 2008 06:45:33 +0000

I am really new to the whole investment thing. I have been looking for other great books to read to help me with the subject matter. I will check out, “Why Didn’t Anyone Teach Me This?” Thanks for the great tip!

By: Amber Weinberg

Amber Weinberg — Thu, 23 Oct 2008 03:01:11 +0000

Hmmm….i tend to dislike books that try to look bigger by using 20pt type lol. I hate finishing books in a hour….I miss reading, I need to stop working!

By: dannygutters

dannygutters — Wed, 22 Oct 2008 22:28:15 +0000

Move over Graham, there’s a new author in town!

By: Lazy Man

Lazy Man — Wed, 22 Oct 2008 21:42:02 +0000

EA, I think you miss the point. If you put 15K in before tax money in a 401K and then take it out after taxes, you would the same as you would if you put 12K (after taxes) and then paid no taxes at the end.

The gains of the 20-30 years of not paying taxes is offset by the starting with 3K less (since you have to pay taxes on that end).

By: EA

EA — Wed, 22 Oct 2008 20:32:47 +0000

I think his point about the ROTH IRA is that the increase/earnings are never taxed. In a regular IRA/401(k) you pay taxes when you take the money out for both the dollars you originally put in and on the amount that money has increased/earned. With the current tax laws and the ROTH, you pay taxes on the money you put in, but the difference between what you put in and what you take out (the growth) is never taxed.

If you are investing now for retirement a long ways off, that increase compounded for the next 20-30 years could be a substantial amount of money that doesn’t get taxed.

By: Lazy Man

Lazy Man — Wed, 22 Oct 2008 20:04:16 +0000

I think it might be self-published. I was looking at the publisher’s note that came with the book and “Rock Solid Financial Group’s” logo is a diagram that appears on page 45.

By: kosmo

kosmo — Wed, 22 Oct 2008 19:51:03 +0000

Is this guy related to Dogbert?

All the good advice you mention is pretty common knowledge.

Most of the bad advice is of his own making.

Is this thing self published? Some of the errors (the “tax free Roth”, for example) shouldn’t have slipped past an editor.

I think of this guy as a Bizarro Colonel Sanders – the Colonel’s special ingredients make things better.