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At the end of most chapters he has a quick review section he calls âFlashback Learningâ and more importantly he outlines a 2 hour action plan. The 2 hour action plan is what the book is all about. Quit reading, talking and discussing, instead take some action in regards to your personal finances.
Some of the best bits of information from the book:
- page 90 â âYou can never get excellent returns with safety in the SHORT TERM; that can only happen in the long termâ
- page 128 â he shows a flowchart that I think everyone should make because it visually shows where YOUR money is going
- page 136 â A simple checklist of what your sample portfolio should look like, itâs all about simplicity
Overall the book is great for beginners and I would highly recommend it.
Thanks to Manish for the book making it precise and wealth of information. As the name suggests it wakes up the "Investor" in you. Treat the book as work book in the first reading itself, reading it as novel won't help, even though it may ignite some thought.
In India many of us are pro savers, compared to other parts of world. The book helps us in organizing the savings in a professional and calculated way. The book talks in terms of achievable (SMART) goals. It clears some of old myths.
It would be even more helpful, if it would have been included some basics about various saving schemes, low-medium-high risk sectors, stocks, MF, etc... as an added material.
Gift the book to the person who started his career. Last but not least, the author emphasizes "Peace of mind and contentment" also as wealth.
In this book, Manish uses a simple language to explain personal financial management concepts to the common man. Using simple examples and narratives, he explains complex financial concepts and try to create awareness among public about the importance of personal financial management. In India we would have been thought a lot of things that are not useful in life , but we are not educated enough about personal finance management and we end up doing a lot of mistakes. A must read for people who are starting their career fresh out of college. If I would have read it 6-7 years back when I started working I would have avoided so many mistakes that I committed in investing. Way to go Manish.
I was quite disappointed when I put the book down after reading it. Dont get me wrong, its nice book if "You are just beginning investing and want to know the very basics". Since its Manish and after getting so much value from his blogs, I was really disappointed at the depth of this book.
I mean, I do not expect detailed information but even basic depth is missing in this. His blog has more information and material than this book and I think its overpriced.
What I liked:
1. Easy approach to the subject
2. fluid language
3. Nothing much technical
4. Templates that he provided by sending an email to him
5. The charts, like the insurance you nee
What was wrong/missing:
1. No in-depth information on anything!!!!
2. Some basic advice on products people should be looking at like Accident Rider in insurance plans etc
3. No information on how to evaluate various investment avenues like MF, Stock etc
Who should buy:
You are absolutely new and want an overview to financial planning
Who should not buy:
1. You are fan and regular reader of his blogs
2. You already read good magazines like Outlook Money, MOney Life etc
3. You already know basics, and are looking for how to evaluate a product. For example, you have term insurance should you another insurance with critical illness rider or lets say you want some basic pointers on how to track MF
4. You read blogs or part of forums
I think Manish should clearly mention what top expect from his book so that his fans can make an informed decision. If it was any other author, I wouyld have given a 3 star, since its Manish (someone whom I respect), I am giving 1 star.
I would suggest skipping this book and getting Subra's book on 40 rs a day
Why didn't someone tell me these simple principles of saving and investment before? The best part of the book is that it is written by someone who calls himself a Student of Wealth rather than a Guru. And after reading the book I believe its lot better to learn from a Student, than a Guru.
One needs some courage to go through this book. It first shakes you up from your slumber (financial laziness), then squeezes off you, your mislearnings about saving and investment, usually a result of preaching by many learned financial experts (read-agents), and then sometimes it punches you on your nose making you realize you silly mistakes.
First I couldn't read it beyond a few pages with each page making me realize about the opportunities to create wealth I missed, how I allowed my common sense be be buried under greed,herd mentality, or simple laziness. However, with quivering hands I flipped through the pages, knowing fully well that I must not escape reading it to the end.
As you go through the book, you realize that the writer is here to give you an unbiased advice.
Do not expect this book to be something magical which will make you rich, it just gives some plain good advise on savings and investments, strengthens your own common sense and encourages you to take our own decisions in the right way and encourages you to ACT. Its not easy to create wealth, but reading and acting on this book sure is one of the ways.
Its an Awesome Book which will make you understand the basics of all Financial products. One who wants to start his/her financial planning , first step to do is "Go get it and READ IT".
It will surely help you to understand most aspects of financial products.
After completion of this book , you will be in a stage to analyze pros and cons of different products by yourself.
A MUST HAVE in your Library.
This book is one of the best books in personal finance. The concepts explained in the book are very clear and simple. It also develops thoughts and provokes action. No one can sit quietly after reading this book :) It actually changes our relationship with our money :)
An excellent book Manish. Waiting for your next one. All the very best.
Really a different way of approach suggested on personal financial matters.A must read book for the spendthrift younger generation, Indians who are in the 25-35 age group,who earn 50k p.m by 1st of every month and spend by 5th of every month through payment of credit card EMIs.Your view and attitude towards money definitely gets changed.This book will be a hand guide for the people in financial advisory services profession.
This book is for Every Young Professional & Investor. Very Practical approach to Understand Financial planning. I had read so many books regarding PF but Its been Great Read. Eye Opening to Me. Thanks Manish Chauhan. Waiting for Next Version.
What an excellent book....This is my shortest expression on completion of reading the book.
Well. Giving a briefing on the experience of reading the book.
--Acknowledge and Preface - Too Good
--Way/Style of presentation - Appealing and too good again.
Shows the capability and potential of the author to convey the right meaning of everything explained in the book to a variety of audience. I am quite sure, this book could influence any one's financial decision making processes and visualize the right approach towards a great financial planning leading to achievement of not only basic necessities but long term dreams and aspirations.
--Importance of early investment - Well demonstrated again
Strategy, Effectiveness and the drastic difference of saving even small amounts during the initial periods - very very well demonstrated rather illustrated.
--Life Insurance - Commendable again
The do's and do not's in this section is very well demonstrated. This section again well explained and would help greatly from an awareness perspective. I do not think there is a better way of illustration.
This book is for every one and for all ages. The earlier you grab a copy and understand the things the better. A definite value buy and I'm quite sure that none of you would regret buying this excellent pick. I can assure that this would be beneficial for anyone who isn't insane. A great great gift to all those whom you really care for. This book would be an eye opener for many. (My wild guess would be nothing short of 80%). The author's excellence as a financial coach is well evident and the book speaks about that.
UNDERSTANDABLE, SIMPLE, POWERFUL...Above all works for ANYONE and not a particular cross section of people. Highly recommended for the youth who are a nation's backbone to grow in a responsible manner with great insights from a financial perspective.
( One more thing, i would like to convey is about the build quality of the book. Great. Excellent. Not the boring ones which you normally imagine or expect on hearing that this is something related to financial success, management or progression.)
:) :) :) - Do not waste your time. Grab a copy.