Title of Book: The Millionaire’s Curriculum
Author: Aham Njoku
Publisher: Lisbon Golden Stream Ltd
Reviewer: Steve Aliba
Price: Not stated
The Millionaire’s Curriculum written by Aham Njoku is the type of book that can practically change a person’s life for good. The book is made up of thirteen exciting chapters that will keep you captivated from the beginning to the end. Why did the author write a book totally devoted to the study of money, a controversial subject which people all over the world struggle to understand? In his own introduction, he offered an insight. He said, “Since I became an adult of about 18 years, I have always wondered why a grandfather would be rich, his son too will be rich and his grandson will also be rich. On the converse, I have also wondered why in another family a son will be poor, his father will be poor and his grandfather also will be poor. Do riches, wealth or poverty run in different families?”
The answer to this poser is one of the reasons that motivated the curious author to embark on a research spanning several years to write this book. Another reason why he wrote this book can be gleaned from the introduction too. He said, “I decided to write this book to teach people simple things they can do to become rich”. He also gave a further reason why he wrote the book when he said in the introduction, “In particular I am worried that some children of rich people who are busy (and have no time to teach their children about how money works) may end up being poor”.
Interestingly the first chapter is titled, “How money works”. Here he deals with basic issues like defining money, talking about earnings, savings, cutting down on expenses (budgeting), investing your money, re-investing your money, owning the house you live in, protecting your investments and even philanthropy.
In chapter Two he explains key money words like cash flow, assets and liability. In chapter Three, he discusses “Man Made impediments to wealth creation”. This include procrastination, gambling mind set, mental and physical laziness, lack of focus, prioritization, inordinate ambition, showing off, consumption mind set, dependency syndrome, friends, associates and the role of habit in becoming rich or poor. In chapter Four, he discusses three types of income. These are earned income, portfolio income and passive income. In chapter Five he discusses the concept of cash flow quadrant which he said was first articulated by Robert Kiyosaki, a wealth creation mastermind. These are being employed or self employed on one hand and on the other hand being a business owner or an investor. He argues convincingly that those in the later category are more likely to become rich than those in the former category.
In chapter Six, he discusses four things that make people poor. These are tax, inflation, debt and retirement. In chapter Seven, he gives several examples of assets. They are property, business, treasury bills, fixed deposit, bonds, commercial papers, intellectual property, commodities, stocks and shares. In chapter Eight, he poses a question “Do you have a money plan, goal or target”? He talks about the rat race, the fast track and the potential exit strategy of a person who aspires to be rich. In chapter Nine, he discusses in detail what he calls a “Retirement Blue Print”. Many people who want to retire rich, happy and healthy are going to find this chapter compelling. In chapter Ten he writes about integrity (brand) and advertizing. In Chapter Eleven, he discusses desire, planning, action, discipline, determination, persistence as the route to riches and wealth. In chapter Twelve titled, “Nuggets of Money Intelligence”, he quotes copiously from several authors and wealthy people around the world including Lee Iaacoca the former president of Ford Motors and later Chrysler Motors. Finally in chapter Thirteen which he wrote as a bonus to the reader he gave forty hot tips for investment in stocks and shares.
There is no doubt that Aham Njoku is a master story teller of narratives that are unforgettable. On procrastination he told a local Igbo folktale of how the slow tortoise beat the fast antelope to a race and became the king of the animal kingdom. He also told four stories about the dangers of borrowing money. For example in chapter six which you can never forget in your life, there is a story about the Senatorial candidate who committed suicide. The second is the man who borrowed money to import fruit drinks. The third is the man who lost his job after borrowing money to buy a house and the forth is the landlord who became a tenant. All these happened in Lagos! The book is also laced with humour. He told the narrative of a person who built houses in his stomach with food instead of building houses in real life.
One thing that is commendable about the book is that each topic is brief and straight to the point. Another good thing is that the author gives credit to other authors when he is quoting them or discussing the money concepts articulated by them. Equally, he uses both local and international examples to drive home his point. For example he talked about the Aba Women’s Riot of 1929 over tax against the British Colonial government as well as the effect of Hunicane Mathew on rich and poor people that ravaged Florida, a state in United States of America in 2016. On inflation he gave international and local examples with Zimbabwe, Venezuela and Nigeria. To say that the author is a prolific writer and a voracious reader may be an understatement as his versatility and global outlook is self-evident. His bibliography which lists 21 books on money intelligence and motivation which he has read several times over himself and which he recommends to the reader is indeed enriching.
May I criticize? The fantastic embossed cover of the book which is artistic and catchy depicts wealth. However it appears to be too bright. Perhaps the colour which is yellow could have been toned down. But it is obvious that the objective was to draw the attention of potential reader to the wonderful book on a shelf. There are also many good stories buried in the body of the book. In a subsequent edition, the author may wish to title them like he did for Abraham Lincoln and Henry Ford.
But who is Aham Njoku? I do not think he needs much introduction to the Nigerian public but I still need to fulfill all righteousness. In doing this I will rely on the comment at the back of the book about the author, “with over 120 television appearances since 1997 and over 155 published articles in virtually all Nigerian Newspapers since 1987 when he was in the University, including his days as a Columnist with the Guardian Newspaper, Aham Njoku is publicly known as a constitutional Lawyer, human rights activist and political strategist. He attended Government College Umuahia, University of Benin and Nigerian Law School”. Let me add that he is the author of the pioneering book, “History of the Legal Profession in Nigeria” published in 2005 just like he has pioneered writing a book on money in Nigeria.
Finally, in commending the book to members of the reading public I would have to identify myself fully with the views of the author that parents should introduce this book or other books on money intelligence to their children as early as possible so that they can learn how money works and therefore escape from poverty into riches. In conclusion, according to Dr. Austin Nweze of the Lagos Business School (LBS) who wrote a blurb comment on the back cover of the book”, This book couldn’t have been written at a better time than now when Nigeria and indeed the world is facing serious financial challenges. Individual incomes have been eroded and investment appetite slowed down. This book is a re-awakener for the reader to start investing again”.
Aliba is a Lagos based Lawyer.