4 out of 4 stars
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Efficient management of your finances is very crucial. If you are aiming for financial stability, both in the present and in the future, regulating how much you spend, how much you save, and how much you invest is very important. However, sometimes this can be confusing. For example, some investments are very risky and some saving plans are very unreliable. For this reason, you need to hire a finance expert to help you with your financial planning, or you need some basic finance knowledge. The Safest Way to Play it Safe and Still Grow Your Money by Richard Greenbaum is a non-fictional self-help book that aims to educate its readers on how to manage their finances with minimal risk.
This book has forty-one pages. It is divided into five parts. The five parts are a breakdown of the five rules that the author refers to as "a very conservative guide to achieving financial stability." In this review, I'll only summarize the first two rules. The first rule, Income: You Are Your Own Best Asset, narrates about the author's life, including the investment mistakes he made, and the lessons he learned from these mistakes. Here, the author insists on the importance of acquiring job skills. He says that most of the time, your salary may be your greatest source of income. The second rule, Investing, talks about investing in retirement plans such as 401k and IRA as opposed to stocks and bonds. This is because these retirement plans are less risky, and come with several benefits, including tax avoidance.
I liked several things about this book. First, the author shared his experience with other saving plans, how they failed, and the lessons he learned from the failure. He writes about what he wishes he knew before investing and, thereby, educating the readers on what to do and what to avoid when investing. Second, the author's approach to financial management is very practical. For instance, unlike other books I've read, the author insists that losing your money isn't okay, regardless of your age. Third, he gives a unique approach to investment. Although I'm a finance graduate, I still learned a lot from the book. Since I didn't find any grammatical errors while reading, this book was exceptionally edited.
The only thing I disliked about this book was its structure. For instance, the author didn't even add the title page. The book, therefore, didn't have any title or the name of the author. The subheadings of each chapter should also be written either in bold or in larger fonts. This way, it's easier to distinguish them from other writings.
In conclusion, I rate this book 4 out of 4 stars. I didn't deduct even a single star because, although it has some flaws, they didn't affect my enjoyment. I recommend this book to anyone struggling with financial planning. I can't think of any groups of people who won't find it useful.
The Safest Way to Play it Safe and Still Grow Your Money
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