1st Generation Rich is a combination of memoir and self-help book that promises to help readers find financial independence.
In Mark J. Migliaccio’s world, there is no getting rich quick. He created wealth the old-fashioned way: starting a business, saving money earmarked for investments and then investing, primarily in real estate but also in other assets.
The book details how Migliaccio, who did poorly in school and dropped out of community college, started with a small courier business and became a successful real estate investor. The author discusses not only the art of owning a business and investing wisely but also the lifestyles and motivations that go along with successful entrepreneurship. He covers equity and the importance of saving, for example, but also proper diet and exercise and the need to avoid distractions such as TV and social media that steal focus from business and personal goals.
Unfortunately, the book has a rambling, conversational style that is frequently repetitious. Chapters wander from dispensing general advice to giving specific recommendations on investment to discussing the author’s purpose in writing the book. A lengthy preface and introduction make numerous promises to readers, but much of what it delivers are platitudes or tautologies, for example: “Nothing is holding you back except yourself” and “options give you many choices.” Although the author makes a number of recommendations throughout, his most practical and actionable suggestions fit on two pages near the end.
The book also could use another editing pass. It appears that the author spell-checked the manuscript but did not give it to a competent copy editor to find errors software might miss, such as “tine” for “time” or “were” for “we’re.”
Regardless, Migliaccio’s ceaseless pep talk will make anyone think they can follow his path and achieve financial success. However flawed, his relentless positivity is infectious.
Also available in hardcover and ebook.