How to Become Financially Independent Before You're 35

Newsweek business planning director Stern addresses this adroit and extremely readable financial guide to young well-paid individuals who never seem able to accumulate substantial net worth, and thus remain financially dependent on others. While cautioning against imprudent risk, the author recommends maximum use of borrowed cash and available credit (including credit cards) to become entrepreneur or partner in a small business that fills an emerging need in ""hot'' service areas (newsletters, videotapes, etc.). Stern recommends even more strongly real estate ventures which in these times, he maintains, can establish a residence with fast-growing equity, or by speedy improvement and turnover can lead to escalating profits and capital build-up. In a forthright, lighthearted style, Stern goes on to describe business organizational structure, tax advantages, and how to deal with accountants, bankers and lawyers while developing one-person or shared commercial expertise. (May 30)