If you have been reading personal finance or investing blogs for a while, you have probably heard of Phil Town, the author of “Rule #1”. My MoneyBlogNetwork buddy, Jim, has posted an interview with Phil. One thing that bugs me about this interview is how Phil skirts around the question:
I think this is a fair question since Phil mentions it on his blog. The math is staggering. In order to go from $1,000 to $1,000,000 in five years, you would have to average over 298% return per year! Possible? Yes. Likely? No.
To be fair, I have not read the book. And, there are things about Phil’s philosophy that I do like. I just wish he would answer the question.