Born in Dominica, a small island in the Caribbean with a population of roughly 70,000 people, Tom Graneau and his mother immigrated to the United States when he was the age of 17. After serving 14 years in the Navy, Mr. Graneau became increasingly concerned about his financial situation. Things continued to became worse when he left the service. After having his house go into foreclosure and the added pressure from credit card companies, he ultimately filed for Chapter 7 Bankruptcy.
Eventually, Mr. Graneau found work as a Financial Management Consultant, spending roughly ten years working as a financial management coach and educator, conducting workshops and private consultations for people in the military, government agencies, and the civilian community. His first book, Are You Financially Checkmate?, was previously published in 2005 and is now being revised. Tom Graneau’s newest release, Renters Win, Home Owners Lose: Revealing the Biggest Scam in America, is an insightful and educational look at today’s financial world.
Thank you for this interview, Tom. Can you tell us a little about yourself and how long you’ve been writing?
I was born in Dominica, a small island in the Caribbean with a population of roughly 70,000 people. At 17 years old, my mother and I immigrated to the United States. At age 25, I joined the military and spent 14 years in the U.S. Navy. Most recently, I’ve spent roughly 10 years as a financial management coach. In 2005, I published my first book, Are You Financially Checkmate?, a project that took almost four years to complete. My writing career started in 2001.
Do you write full-time?
No. The early morning hours (times vary) are devoted to writing; late morning and afternoon are spent running Writers Publications (my own publishing firm); and late evening is spent on more writing with an hour or two reserved for some television entertainment.
You’ve met an old friend from high school and you want to pitch your book to him/her in five minutes or less. What would you say?
The real estate industry, including banks, mortgage companies, the government, and various other organizations have come together with one voice, claiming that home ownership is the most reliable path for financial prosperity. Presently, most Americans (70 percent, down from 83 percent in 2003) are preoccupied over the idea of owning a home as a financial investment. However, based on historical trends and statistical facts, Renters Win, Home Owners Lose: Revealing the Biggest Scam in America debunks the wealth claim linked to home ownership. On the contrary, when the opportunity for wealth building is compared between home buyers and renters, those who rent have greater propensity for financial success. Data indicates that those who have purchased homes (in some cases, more than once) are not necessarily better off financially than those who haven’t.
