How much do I want to read more? 6/10

Money is such a big field, any book will have its own perspective on it.
This one clearly is more about investment, not about business.

I'm not that interested in the "investment" part, because I think I'm late (over 40) and I think making a business would suit me better.
However, I got charmed with some simple facts the author says with much more clarity I may have heard before:


You are solely responsible for your own choices. There are absolutely no guarantees here.


There’s no shortage of stuff you really should be learning in this world, and no shortage of books about exactly that same stuff. Every bit of knowledge you could ever hope for is already waiting right there in a book somewhere.

The problem is that most of those books are boring and you end up setting them down with a bookmark somewhere around page 25, never to return.

Although very few people actually follow it, I have found that the road to a wealthy life really is simple and quite enjoyable to follow, so it only makes sense that a book about it should have those same fine traits. This one does.

Peter Adeney


[quote, Leo Burnett]
“If you reach for a star, you might not get one. But you won’t come up with a hand full of mud either.”

I. Introduction

Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical. If you choose to master it, money becomes a wonderful servant. If you don’t, it will surely master you.

Unfortunately this benign neglect of things financial leaves you open to the charlatans of the financial world. The people who make investing endlessly complex, because if it can be made complex it becomes more profitable for them, more expensive for us, and we are forced into their waiting arms.
Here’s an important truth: Complex investments exist only to profit those who create and sell them. Further, not only are they more costly to the investor, they are less effective.
key guidelines:

What is so simple and clear now I personally had to learn the hard way, and it took decades.
Those initial letters to my daughter, then and now this book are all my efforts to share with her what works, where the minefields lie and how simple it all can and should be.

II. A parable: The Monk and the Minister

“You know, if you could learn to cater to the king, you wouldn’t have to live on rice and beans.”
“If you could learn to live on rice and beans, you wouldn’t have to cater to the king.”

Most all of us fall somewhere between the two. As for me, it is better to be closer to the monk.

III. My story: It has never been about retirement

For me, the pursuit of financial independence has never been about retirement. I like working and I’ve enjoyed my career.
It’s been about having options. It’s been about being able to say “no.” It’s been about having F-You Money and the freedom it provides.

From the beginning, I was a natural saver. Watching my money grow was intoxicating.
To this day it stuns me to read about some middle-aged guy laid off from his job of twenty years and almost instantly broke. How does anyone let that happen? It is the result of failing to master money.

Now an adult, she has grown up with anything from dad working 18-hour days and constantly away from home, to dad sleeping late and lounging around. But she always knew that I was doing, for the most part, exactly what I wanted to do at the time.
I like to think that these experiences taught her the value of having money and the joy of work when you aren’t effectively a slave to it.

While Mom was at the university in the evenings, my daughter and I spent endless hours watching The Lion King over and over. And over. I’ve probably seen that movie more times than all other movies combined.

She quit. It was far and away the best “purchase” we ever made. Of course, this also meant we had no working income. However, for the three years we both weren’t working, our net worth actually grew.

So now I’m (again) retired and it feels great. I love not having to keep regular hours. I can stay up till 4 am and sleep till noon. Or I can get up at 4:30 and watch the sun rise. I can ride my motorbike any time the weather or my pals beckon. I can hang around New Hampshire or disappear for months at a time to South America. I post on my blog when the spirit moves me and I might even get another book or two written. Or I can just sit on the porch with a cup of coffee and read the books others have written.

One of my very few regrets is that I spent far too much time worrying about how things might work out. It’s a huge waste, but it is a bit hardwired into me. Don’t do it.
The older I get the more I hold each day precious. I’ve become steadily more relentless in purging from my life things, activities and people who no longer add value while seeking out and adding those that do.
It’s a big beautiful world out there. Money is a small part of it. But F-You Money buys you the freedom, resources and time to explore it on your own terms. Retired or not. Enjoy your journey.

IV. Important notes

Note #1: Things change

by all means take the time to look up the most current rules and numbers for yourself.

Note #2: On the projections and calculators used in this book

As it happens, from January 1975 - January 2015, using the parameters I chose above, the market returned an average of 11.9% per year.
That is a breathtaking number.

I am NOT for a moment suggesting that you can count on 11.9% annual returns in planning for your future.

Part I: Orientation

[quote, Blondie]
“The tide is high but I’m holding on.”

1. Debt: The Unacceptable Burden