University of Minnesota - UMN Executive Leadership Insights
Safe Strategies for Financial Freedom
Book

Safe Strategies for Financial Freedom

Van K. Tharp, D.R. Barton and Steve Sjuggerud
McGraw-Hill, 2004
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Editorial Rating

6

Recommendation

If personal finance seems like a no-brainer for every brain but yours, this book will enhance your gray matter and your bank account. The payoff begins immediately. The authors explain complex and potentially mind-numbing terms such as "passive income," "stop loss" and "productive assets" in lively language that entertains without condescension. The text is sprinkled with helpful easy-step programs, charts and worksheets, features that integrate your financial data into the learning curve. Your participation enhances the book’s real-life examples. Quick summaries and detailed postscripts make the bite-size chapters even more digestible. Most of the examples are clear, with color and commentary that brighten potentially dry data. Occasionally, the authors slide into abstract number-crunching gymnastics that may leave readers stranded on the mat. But such mishaps are rare. And don’t skip the concluding chapters about human behavior. The insights about personal accountability, positive visualization and family education provide valuable dividends. getAbstract.com recommends this strong performer; it will yield excellent market advice.

Summary

Financial Freedom is Attainable

You don’t need a multi-million dollar bank account to break free from the daily workplace. Financial freedom is a matter of discipline, responsibility and planning. After your fiscal liberation, you will have more time to spend with your family and greater flexibility to live and travel as you desire. If you follow a few basic steps, freedom can be yours within seven years - and possibly within the next six months!

Make your dollars work for you. Financial freedom means that your monthly expenses are less than your passive income. Seek cash flow from rental property, trust income, dividends and even book royalties. This passive income is monthly or quarterly cash flow that is not based on hourly or weekly wages. And it is taxed more lightly than earned income.

Begin the journey by calculating your financial freedom number. This is the difference between your passive income and your monthly expenses. To derive it, make a comprehensive list of your monthly income and expenses. Next, calculate your passive income, cash flow from real estate, bonds or even a business that does not require your day-to-day involvement. For financial...

About the Authors

Van K. Tharp, Ph.D., wrote Trade Your Way to Financial Freedom, and publishes Market Mastery, a newsletter, and Tharp’s Thoughts, an e-mail publication. He is president of the International Institute of Trading Mastery. D.R. Barton Jr. is editor of Ten-Minute Trader, a newsletter. He is COO and risk manager for the Directional Research and Trading hedge fund, and develops seminars in investments and trading. Steve Sjuggerud, Ph.D., is editor of True Wealth, a newsletter, and president of Investment University. He has managed investment portfolios, hedge funds and an equity research department.

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