University of Minnesota - UMN Executive Leadership Insights
Financial Freedom
Book

Financial Freedom

A Proven Path to All the Money You Will Ever Need

Grant Sabatier
Avery, 2019
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Editorial Rating

8

Qualities

  • Innovative
  • Concrete Examples
  • Engaging

Recommendation

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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