Financial Freedom

A Proven Path to All the Money You Will Ever Need

Avery, 2019

15 min read

8 take-aways

Audio & text

What's inside?

Grant Sabatier was broke at 24. In five years, he made $1 million. Here’s what he learned on the way.

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Podcaster Grant Sabatier drew on his experience to write this entertaining introduction to personal finance. In five years, he went from being broke and unemployed to generating $1 million. He assumes you want to be financially independent and that you don’t know much about how to do it, so he helps you figure out how much capital you need to live on your own terms. Sabatier then details viable options, like developing a side business, or investing in stocks or real estate. Throughout, he offers tips on how to act sensibly and minimize your risk.

Summary

Decide how much capital you need to gain “financial freedom.”

As you set out to calculate how much money you need to stop worrying about money, the number that works for you could be a figure that lets you cover your bills, pay off your loans or travel. Don’t expect to follow rigid rules to reach your target. Your location, how frugal you are, the performance of the stock market and other factors can affect how much money you need. Regard this process as fluid: Your preferences could evolve and change in the future.

Your lifestyle will determine how much money you need. Think about what qualifies as a wonderful day for you. You may discover that you don’t need a lot of money to live an enjoyable, satisfying life. If you start your journey while you’re young, you’ll need less money before retirement, because your investments will grow through of the power of compounding. To increase the chance of your money lasting as long as you live, hit these goals:

Save “at least 25 times your expected annual expenses.”
Delay cashing in the gains from your investments.
Make sure you have enough money to fund a year...

About the Author

Grant Sabatier, host of the Financial Freedom podcast, set up MillenialMoney.com, which reaches more than 10 million readers.

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V. B. 3 years ago

I read the summary again and submit forllowing comments: Actual case studies with; age of earnerning member and income earned/year, his/her dependents and their ages and expenses and future career plans etc, if given shall be more useful and helpful. Though it is subjective but some guidelines may be given by the author based on proven experinces. Some experts say that, asset allocation be 100-current age= so much percentage in stocks, and rest in fixed secured investments ( secured bods , Fixed deposts etc). Author may cover it based on experinces and successes achieved by people following such principle. If author is offering consultation to help one to assess his/her finacialcal needs, the same may be mentioned or author can suggest good consulatns who provide such services. Most peopel are confused on how much is money is enough for them, and hence need advice from experts.
V. B. 3 years ago

Though in general points are ok but many points need more discussions to prove their worth. For example, book says investing in real estate is better. It is questionable. Many successful financial experts believe that stock market is better than real estate over a long term. Also, 25 0r 30 times the annual expenses, to set max limit of one's finacial goal, is debatable. One has to keep in mind, the possibilities of maximum medical expenses based on one's health, insurance available, age, and health conditions, persons dependent on him/her, education expenses of children etc, and this limit needs review from time to time. Asking raise at appraisal is ok, but one's must focus on enhancing his/her capability and professional skills, to earn more. Doing more than being paid for, is the principle that heps one to get higher raise in salary even without asking. This be kept in mind.
S. Y. 3 years ago

All these books talking about 2 things: save money, invest money.

Grant Sabatier