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This book is not only information, but motivating too.
A few things I loved:
-house hacking. Buying a house and renting out rooms is a fantastic way to build wealth.
-comparing spending time to beat the stock market to selling bottles of water outside of a stadium is a great analogy.
-the case for DIYing. You don't need to outsource everything to an expert. You save money and learn.
-fancy degrees earn you more money partially because they lock you into working.
-the cost of commuting. I love that he brings up Mr. Money Moustache's article. I just wish he would have used MMM's best case scenario $.17/mile figure, where the math for commuting still stinks.
15 of 15 people found this review helpful
This book is mainly geared for the average American office worker with little or no understanding of personal finance. However the book have some main good points and will set the foundation for anybody interested in improve its personal finances. The best key points I like from the book are: focus on lower your mayor fixed expenses (housing), clean up any bad debt before you start to invest or acquire any good debt. Understand what your goals are. Review your net worth regularly. Understand how you are spending your time and how that will impact your finances in the long term. Understand how leverage can accelerate you to faster reach financial freedom. I think the best advice from the book is about the false idea / trap of stock picking as a way to reach financial freedom which I think many investor experience over a lifetime. The bad thing with the book is that it is heavy geared towards American people/context and based on the authors own experience and circumstances. Example of a strange advice given in the book: "if you cannot house hack the move to another city where you can". Should both me and my wife quit our jobs, move to another country/city just so that we can house hack ? just becomes house hacking was working for the author does not mean it will work for all.
27 of 31 people found this review helpful