Author: Almost Anyone Can Be A Millionaire
New Britain Native Writes Formula Book
NEW BRITAIN — Growing up here in a middle-class family, Ed Dzwonkowski sometimes wondered how people became wealthy.
He had a paper route after school, but that wasn't a road to riches.
It has been decades since those news carrier days, and Dzwonkowski, 42, and a certified financial planner living in California, now thinks he has figured out how almost anyone can become a millionaire.
The key is working hard and consistently investing the weekly paycheck in assets that will appreciate in value.
``It does not happen overnight. You have to be consistent. In the old days, pensions and Social Security might have provided enough. Now, people usually don't stay in one company for life, and they may want to retire early or be forced to retire early because of illness or other reasons,'' Dzwonkowski said. ``So it's prudent to plan for yourself.''
He has put it all into a book titled ``How You Can Become a Millionaire,'' which he had printed himself and is selling through distributors across the nation. It costs $19.95 and is published by Great Spirit Publishing Co. in Huntington Beach, Calif. Dzwonkowski is Great Spirit Publishing.
According to Dzwonkowski, if a person puts $264 a month, every month for 35 years, into investments that yield 10 percent interest, that person will have $1 million at the end of 35 years.
``And if you fall short of your goal, you'll still have some sizable amount that you wouldn't have had if you hadn't begun investing,'' Dzwonkowski said.
Asked if he is a millionaire yet, Dzwonkowski gave what he called his standard answer: ``Not yet, but I'm closer today than I was yesterday. I do follow my own advice.''
The book is in its second printing. The first 1,000 copies were sold to people as far away as New Zealand. Those requests came via the Internet, he said.
Dzwonkowski's father, Edward ``Butch'' Dzwonkowski, is New Britain's registrar of voters. He says he's proud of his son.
``He gets on my case about investing. But I tell him I'm too old,'' the elder Dzwonkowski said.
His son has two words: Anne Scheiber.
Scheiber, who died in 1995 at the age of 101, was a low-paid clerk with the Internal Revenue Service who decided at age 50 to start investing, using $5,000 she had squirreled away.
She invested every month, and by the time she died, her investments had grown to $20 million, generating income of $62,000 a month. She left her money to Yeshiva University in New York.
``Anne Scheiber did what I advocate. Consistent savings and investment over time. Look what it did for her,'' the author said.
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