After two and a half years of brainstorming, writing and modifying in the course of the pandemic, my guide, Purchase This, Not That: How To Spend Your Approach To Wealth And Freedom is now out there!
The guide is a Wall Road Journal bestseller and could be bought on Amazon, B&N, and in bookstores in every single place. Purchase This, Not That additionally turned a #1 bestseller on Amazon in Retirement Planning. Hooray!
I’ve spent a mixed 30+ years working in finance, learning finance, and writing about finance. Because of this, I firmly imagine Purchase This, Not That (BTNT) is likely one of the greatest private finance books on the market. It’s the guide I’ve at all times needed to jot down to assist readers in every single place dwell higher lives on their phrases.
In the course of the course of my writing course of, I additionally learn over a dozen nonfiction books to grasp what makes good books nice. I then labored in my concepts with my editors at Portfolio Penguin Random Home to make the guide shine.
Cash is simply too vital to be left as much as pontification. Due to this fact, all the things I’ve written within the guide relies on firsthand expertise from a finance veteran. This fashion, I can share with you the nice and the unhealthy that will help you make higher choices.
The key to cease saying, “If I knew then what I do know now,” is to easily be taught from somebody who has been by means of what you’ll undergo.
I’ve additionally arrange monetary frameworks to assist information you in your path to monetary freedom. Consider BTNT as your monetary coach who provides you the arrogance and the motivation to beat life’s greatest dilemmas in a wise and sensible method.
Order a hardcover copy of Purchase This, Not That by clicking one of many retailers under. My guide is your unfair aggressive benefit for getting forward on this brutally aggressive world!
Monetary Independence Is Solely Half Of The Journey
When you get your cash proper, you can begin higher specializing in issues that actually matter to you. In any case, cash is simply a method to an finish. And for these of you who deal with cash as the tip all be all, I hope my guide will assist change your philosophy.
When you obtain a sure degree of economic independence, the place your passive funding revenue covers your residing bills, the world opens up.
The final word aim is to maneuver cash into the background so you may cease obsessing over it and begin specializing in doing issues that matter.
I present you ways within the first half of my guide. With actionable recommendation below a logical framework, I make it easier to transfer ahead with confidence.
Fixing Dilemmas We Might One Day Encounter
Within the second half of my guide, I sort out lots of life’s dilemmas and learn how to strategy them utilizing my 70/30 decision-making framework.
In the event you imagine there’s a 70% chance or better you’ll make the right resolution, go for it! On the identical time, have the notice of realizing you could get issues improper 30% of the time. Until the end result is demise or monetary destroy, it is possible for you to to be taught out of your errors, recuperate, and make higher decisions over time.
My guide encourages you to suppose in possibilities, not absolutes. In the event you suppose in absolutes, you’ll probably miss out on plenty of nice alternatives since you’ll really feel you want 100% certainty earlier than shifting ahead. Nonetheless, when you begin pondering in possibilities, loads of new potentialities opens up.
Listed here are some dilemmas the guide explores:
- Pay for personal faculty or public faculty
- Be part of a startup or work for a longtime firm
- Begin a life-style enterprise or go for the grand slam
- Job hop or keep a loyal soldier
- Reside in an costly coastal metropolis or transfer to a low-cost space
- Spend money on actual property or shares
- When to put money into tax-advantaged versus taxable accounts
- Purchase a fixer or a completely reworked residence
- Marry for love or marry for cash
- Have youngsters early or late
- Return to work or be a stay-at-home-parent
- Mix your funds or maintain separate accounts
- Break up or keep married
- Search fame to spice up your wealth or keep low key
- Help your grownup youngsters or allow them to be taught to swim
And so many extra subjects.
Once more, cash is only one a part of the equation. It’s how we use our cash to make higher decisions that issues most. If any of those subjects curiosity you, Purchase This, Not That will make it easier to decrease remorse and maximize satisfaction.
Why I Wrote Purchase This, Not That
I wasn’t planning on writing a historically revealed guide. As a drained father of two younger youngsters who additionally publishes 3 times per week on Monetary Samurai, I already had my fingers full. Nonetheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, concerning the thought, I used to be intrigued.
When the pandemic hit in March 2020, I believed why not! If I used to be going to be caught at residence anyway for who knew how lengthy, I would as nicely benefit from a suboptimal scenario. That is the Monetary Samurai mindset!
Again in 2008, one thing comparable occurred. The world monetary disaster was beginning to deepen and I used to be shedding a boatload of cash. Nonetheless, it was in the summertime of 2008 that I lastly determined to suggest to my girlfriend of 9 years. I knew that even when I misplaced all my cash, I didn’t wish to lose her.
Now, each time I believe again to the worldwide monetary disaster, I instantly take into consideration our small seaside wedding ceremony, not the financial calamity throughout that point interval. By writing Purchase This, Not That throughout a pandemic, I’ll look again and really feel good realizing I did one thing productive to assist others.
Listed here are some extra the explanation why I wrote my newest guide.
1) It Had To Be Written
One of many the explanation why I began Monetary Samurai in 2009 is as a result of I observed there weren’t any private finance bloggers with finance backgrounds. Due to this fact, I believed it could be a good suggestion to fill this apparent gap. I considered cash in a different way and needed to deliver my experience and views to the world.
After I was approached by Portfolio Penguin Random Home with the guide thought, I observed there additionally weren’t many nonfiction finance books that had been written by folks with finance backgrounds. Due to this fact, I figured I would as nicely fill the outlet once more!
After having the ability to escape company America at 34 and dwell the life I need for the previous 10 years, I simply needed to write a guide that would assist different folks probably do one thing comparable. When you see how one thing is completed, it’s a lot simpler to imagine the same path is feasible for you.
2) The Significance Of Monetary Schooling
There’s an entire world of customers on the market who like to learn books and never blogs. Due to this fact, it was solely logical to jot down Purchase This, Not That to attempt to attain them.
Creating most impression in an reasonably priced method is vital. I might create $2,000+ e-courses like some friends do. Nonetheless, I felt packing in all the data in a guide that prices $27 or much less was a extra accessible resolution.
After 13 years of writing on Monetary Samurai, I’ve additionally gathered a wealth of various views from over 90 million guests. These views have helped me make higher choices and be a extra empathetic individual alongside the best way. Purchase This, Not That consists of many blindspots I’ve needed to probably assist others see issues extra clearly.
The world is in want of extra monetary schooling. A private finance course needs to be obligatory in highschool or school, however it’s curiously not. I dwell on this bubble the place I studied economics in school, obtained my MBA, labored in funding banking for 13 years, and have written over 2,500 private finance articles since 2009.
The issues that appear apparent to me or others with finance backgrounds don’t appear as apparent to these with out monetary backgrounds. Due to this fact, my aim is to deliver extra monetary schooling to those that search to develop their wealth in a risk-appropriate method. It’s our obligation to share what we all know.
3) Slender The Rising Inequality Hole
Because the world monetary disaster in 2008-2009, the wealthy have gotten terribly wealthy in comparison with the center class. In the meantime, these within the prime 0.1%, have blown previous the highest 1% as nicely. I wish to deliver their secrets and techniques and methods of investing and pondering to the general public so as to assist extra folks construct wealth.
Whereas writing Purchase This, Not That I additionally had an epiphany as to why so many private finance authors write primarily solely about saving cash, budgeting, and index funds. I saved questioning why not additionally write about extra fascinating and probably profitable subjects? In any case, you may solely save a lot. However revenue and funding returns are limitless!
After over a yr of writing and re-writing my guide, I lastly understood why. With no finance background, writing about the rest past budgeting and saving is rather more tough. No surprise why so many private finance books simply scratch the floor of so many vital subjects. Therefore, I’ve launched useful monetary ideas, gone deep with a number of topic issues, whereas additionally making them simple to grasp. There are two ranges of wealthy, and the very best degree didn’t get there by means of simply saving and investing in index funds.
My hope is with the information you’ll acquire from studying Purchase This, Not That, you’ll construct far more wealth in your lifetime than you thought attainable. And if this occurs, your lifestyle will go up and the rising inequality hole will in the end slim.
4) New Views With Extra Illustration
As an Asian one who lived in Asia for 13 years, I was a part of the bulk. Then after I got here to Virginia for highschool and school, I turned a part of a minority that made up solely six % of the U.S. inhabitants. The juxtaposition was eye-opening.
At occasions, it was onerous to slot in. I obtained into fistfights, was suspended as soon as, and felt like I used to be usually battling to be given an equal alternative to take part. Though among the experiences had been harsh, additionally they gave me super motivation to attempt tougher.
By highschool, I clearly realized the world isn’t truthful and by no means can be. Due to this fact, as an alternative of complaining, I accepted the best way issues had been and targeted on what I might management. I deliver this fighter’s mindset to the guide to provide the motivation to push on by means of irrespective of who you might be or how tough your struggles. BTNT is your aggressive benefit to getting forward.
We all know individuals are biased in the direction of individuals who look, suppose, and speak like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite colleges are usually fairly homogenous.
Due to this fact, I believed it could be good to vary issues up slightly and present new views. Perhaps there can be extra love and understanding for Asian of us in America in the event that they learn a very good guide by an Asian one who helps them. Maybe youngsters who seldom see anyone who appear to be them can be impressed to jot down their very own guide or do one thing out of the abnormal.
Together with Folks Who Reside In Excessive Price Areas
As well as, a big share of each nation’s inhabitants lives in costlier city cities. Excessive value of residing areas presents some distinctive challenges which I handle within the guide.
With how bifurcated America is, I’m hoping to create an understanding bridge between those that dwell on the costly coasts and people who dwell inland. In the end, all of us have the identical targets of supporting our nation and doing extra of what we wish.
I’m satisfied most battle on this world is because of a lack of information of different folks and their private conditions. Let’s spend extra time attending to know one another and fewer time judging folks for his or her decisions.
5) Regular Navigation By means of Dangerous Occasions
As somebody who has labored in finance since 1999, I’ve gone by means of the euphoria and despair of the primary Dotcom bubble. Then I went by means of the funding mania of 2007 and the devastation a number of years later with a major quantity of capital.
After every collapse, I’ve discovered learn how to strengthen my funds in order that it doesn’t matter what occurs, I’ll probably be OK. I wish to share what I’ve discovered to assist extra folks survive downturns with out an excessive amount of hurt. Studying Purchase This, Not That will assist armor your funds and supply safety to your family. The guide may also provide the braveness to do extra of what you need.
For thus lengthy, it’s solely been good occasions. And you’ll have learn solely the views of people that’ve solely skilled good occasions since 2009. This may be very harmful. Dangerous occasions will ultimately come, which is once you’ll want monetary steerage probably the most.
It’s onerous to grasp your true threat tolerance and the way unhealthy issues can get when you don’t undergo a chronic bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound. Now issues are as soon as once more very unsure, which is the place BTNT readers will outperform.
Purchase This, Not That will make it easier to navigate by means of stormy waters in order that irrespective of how wretched the financial system, you’ll not drown however thrive. Having peace of thoughts throughout tough occasions is priceless.
Thank You For Studying Purchase This, Not That!
I’m thrilled for y’all to learn Purchase This, Not That: How To Spend Your Approach To Wealth And Freedom. I really violated my writer’s advice of maintaining the phrase rely to 80,000 phrases. As a substitute, I wrote about 111,000 phrases so I might add as a lot worth as attainable given nonfiction books are all about the identical worth.
It’s a large guide full of important data that will help you get pleasure from a greater life. There are such a lot of vital topics that I imagine you’ll really be left wanting for a guide two!
Purchase This, Not That is supposed to be learn and mentioned with associates and family members. You’ll have a good time debating my reasonings and making your personal instances. I really imagine dialogue and listening to the views of others is the easiest way to be taught and develop.
Order a hardcover copy of Purchase This, Not That by clicking one of many retailers under.
In the event you order three or extra onerous cowl copies, I’ll ship you a free signed bookplate as nicely. Please fill out this kind after finishing your buy to submit your buy particulars and mailing handle.
To Your Monetary Freedom,
In the event you’re eager about doing an writer chat, shoot me an e-mail at gross sales AT financialsamurai DOT com. BTNT is supposed to be learn with others and mentioned. And who higher to steer the dialog than the writer of the guide!
Thus far I’ve video talks with of us at Google, Yelp, William & Mary, Fb, and several other different organizations. They’ve all been plenty of enjoyable.