After two years of writing and enhancing through the pandemic, my guide, Purchase This, Not That: How To Spend Your Method To Wealth And Freedom is finished! It comes out on July 19, 2022, in shops in every single place.
After spending a mixed 30+ years working in finance, learning finance, and writing about finance, I firmly consider Purchase This, Not That (BTNT) shall be top-of-the-line private finance books on the market. It’s the guide I’ve at all times needed to jot down to assist readers in every single place dwell higher lives on their phrases.
Through the course of my writing course of, I additionally learn over a dozen nonfiction books to know what makes good books nice and a few books not so nice. I then labored in my concepts with my editors at Portfolio Penguin Random Home to make the guide shine.
Cash is simply too necessary to be left as much as pontification. Consequently, every little thing I’ve written within the guide relies on firsthand expertise. This manner, I can share with you the nice and the dangerous that can assist you make higher choices.
The key to cease saying, “If I knew then what I do know now,” is to easily be taught from somebody who has been by what you’ll undergo.
I’ve additionally arrange monetary frameworks to assist information you in your path to monetary freedom. Consider BTNT as your monetary coach who offers you the boldness to face life’s largest dilemmas in a sensible and sensible method.
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers under to make sure supply on the discharge date.
Monetary Independence Is Solely Half Of The Journey
When you get your cash proper, you can begin higher specializing in issues that basically matter to you. In any case, cash is simply a way to an finish. And for these of you who deal with cash as the top all be all, I hope my guide will assist change your philosophy.
When you obtain a sure stage of economic independence, the place your passive funding earnings covers your residing bills, the world opens up.
The final word aim is to maneuver cash into the background so you’ll be able to cease obsessing over it and begin specializing in doing issues that matter.
I present you the way within the first half of my guide. With actionable recommendation underneath a logical framework, I show you how to transfer ahead with confidence.
Fixing Dilemmas We Might One Day Encounter
Within the second half of my guide, I speak about lots of life’s dilemmas and the best way to method them utilizing my 70/30 decision-making framework.
For those who consider there’s a 70% likelihood or larger you’ll make the right resolution, go for it! On the similar time, have the attention of figuring out it’s possible you’ll get issues mistaken 30% of the time. Until the end result is loss of life or monetary wreck, it is possible for you to to be taught out of your errors, get well, and make higher selections over time.
My guide encourages you to assume in possibilities, not absolutes. For those who assume in absolutes, you’ll doubtless miss out on a number of nice alternatives since you’ll really feel you want 100% certainty earlier than transferring ahead. Nonetheless, for those who begin pondering in possibilities, loads of new potentialities opens up.
Listed below are some dilemmas the guide explores:
- Pay for personal faculty or public faculty
- Be part of a startup or work for a longtime firm
- Begin a life-style enterprise or go for the grand slam
- Job hop or keep a loyal soldier
- Reside in an costly coastal metropolis or transfer to a low-cost space
- Put money into actual property or shares
- When to spend money on tax-advantaged versus taxable accounts
- Purchase a fixer or a totally transformed house
- Marry for love or marry for cash
- Have youngsters early or late
- Return to work or be a stay-at-home-parent
- Mix your funds or preserve separate accounts
- Break up or keep married
- Search fame to spice up your wealth or keep low key
- Assist your grownup youngsters or allow them to be taught to swim
And so many extra matters.
Once more, cash is only one a part of the equation. It’s how we use our cash to make higher selections that issues most. If any of those matters curiosity you, Purchase This, Not That will show you how to reduce remorse and maximize satisfaction.
Why I Wrote Purchase This, Not That
I wasn’t planning on writing a historically printed guide. As a drained father of two younger youngsters who additionally publishes three-to-four occasions per week on Monetary Samurai, I already had my arms full. Nonetheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, concerning the concept, I used to be intrigued.
When the pandemic hit in March 2020, I assumed why not! If I used to be going to be caught at house anyway for who knew how lengthy, I’d as nicely profit from a suboptimal state of affairs. In addition to, such a problem doesn’t come round too usually.
Again in 2008, one thing related occurred. The worldwide monetary disaster was beginning to deepen and I used to be shedding a boatload of cash. Nonetheless, it was in the summertime of 2008 that I lastly determined to suggest to my girlfriend of 9 years. I knew that even when I misplaced all my cash, I didn’t need to lose her.
Now, each time I believe again to the worldwide monetary disaster, I instantly take into consideration our small seaside marriage ceremony, not the financial calamity throughout that point interval. By writing Purchase This, Not That throughout a pandemic, I’ll look again and really feel good figuring out I did one thing productive to assist others.
Listed below are some extra the explanation why I wrote my newest guide.
1) It Had To Be Written
One of many the explanation why I began Monetary Samurai in 2009 is as a result of I seen there weren’t any private finance bloggers with finance backgrounds. Subsequently, I assumed it might be a good suggestion to fill this apparent gap. I considered cash somewhat in another way and needed to carry my experience and views to the world.
Once I was approached by Portfolio Penguin Random Home with the guide concept, I seen there additionally weren’t many nonfiction finance books that had been written by individuals with finance backgrounds. Subsequently, I figured I’d as nicely fill the opening once more!
After having the ability to escape company America at 34 and dwell the life I would like for the previous 10 years, I simply needed to write a guide that would assist different individuals doubtlessly do one thing related. When you see how one thing is finished, it’s a lot simpler to consider an identical path is feasible for you.
2) The Significance Of Monetary Training
There’s an entire world of shoppers on the market who like to learn books and never blogs. Subsequently, it was solely logical to jot down Purchase This, Not That to attempt to attain them.
Creating most influence in an inexpensive approach is necessary. I may create $2,000+ e-courses like a few of my friends do. Nonetheless, I felt packing in all the knowledge in a guide that prices $27 or much less was a extra accessible answer.
After 13 years of writing on Monetary Samurai, I’ve additionally gathered a wealth of various views from over 90 million guests. These views have helped me make higher choices and be a extra empathetic particular person alongside the best way. Purchase This, Not That consists of many blindspots I’ve needed to doubtlessly assist others see issues extra clearly.
The world is in want of extra monetary training. A private finance course needs to be obligatory in highschool or school, however it’s curiously not. I dwell on this bubble the place I studied economics in school, acquired my MBA, labored in funding banking for 13 years, and have written over 2,500 private finance articles since 2009.
The issues that appear apparent to me or others with finance backgrounds don’t appear as apparent to these with out monetary backgrounds. Subsequently, my aim is to carry extra monetary training to those that search to develop their wealth in a risk-appropriate approach. It’s our obligation to share what we all know.
3) Slender The Rising Inequality Hole
Because the world monetary disaster in 2008-2009, the wealthy have gotten terribly wealthy in comparison with the center class. In the meantime, these within the high 0.1%, have blown previous the highest 1% as nicely. I need to carry their secrets and techniques and methods of investing and pondering to the general public so as to assist extra individuals construct wealth.
Whereas writing Purchase This, Not That I additionally had an epiphany as to why so many private finance authors write primarily solely about saving cash, budgeting, and index funds. I stored questioning why not additionally write about extra attention-grabbing and doubtlessly profitable matters? In any case, you’ll be able to solely save a lot. However earnings and funding returns are limitless!
After over a yr of writing and re-writing my guide, I lastly understood why. With no finance background, writing about the rest is rather more tough. Therefore, I’ve tried to introduce useful monetary ideas whereas additionally making them straightforward to know.
My hope is with the data you’ll acquire from studying Purchase This, Not That, you’ll construct far more wealth in your lifetime than you thought potential. And if this occurs, your lifestyle will go up and the rising inequality hole will in the end slim.
4) New Views With Extra Illustration
As an Asian one who lived in Asia for 13 years, I was a part of the bulk. Then after I got here to Virginia for highschool and school, I turned a part of a minority that made up solely six % of the U.S. inhabitants. The juxtaposition was eye-opening.
At occasions, it was exhausting to slot in. I acquired into fistfights, was suspended as soon as, and felt like I used to be usually battling to be given an equal alternative to take part. Though a number of the experiences had been harsh, additionally they gave me large motivation to strive more durable.
By highschool, I clearly realized the world isn’t honest and by no means shall be. Subsequently, as a substitute of complaining, I accepted the best way issues had been and centered on what I may management. I carry this fighter’s mindset to the guide to provide the motivation to push on by regardless of who you might be or how tough your struggles. Consider BTNT as your aggressive benefit to getting forward.
We all know individuals are biased in direction of individuals who look, assume, and speak like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite faculties are usually fairly homogenous.
Subsequently, I assumed it might be good to alter issues up somewhat and present new views. Possibly there shall be extra love and understanding for Asian of us in America in the event that they learn a very good guide by an Asian one who helps them. Maybe children who seldom see anyone who appear to be them shall be impressed to jot down their very own guide or do one thing out of the odd.
Together with Folks Who Reside In Excessive Value Areas
As well as, a big proportion of each nation’s inhabitants lives in dearer city cities. Excessive value of residing areas presents some distinctive challenges which I tackle within the guide.
With how bifurcated America is, I’m hoping to create an understanding bridge between those that dwell on the costly coasts and those that dwell inland. In the end, all of us have the identical objectives of supporting our nation and doing extra of what we would like.
I’m satisfied most battle on this world is because of a lack of expertise of different individuals and their private conditions. Let’s spend extra time attending to know one another and fewer time judging individuals for his or her selections.
5) Regular Navigation By Unhealthy Occasions
As somebody who has labored in finance since 1999, I’ve gone by the euphoria and despair of the primary Dotcom bubble. Then I went by the funding mania of 2007 and the devastation a number of years later with a big quantity of capital.
After every collapse, I’ve discovered the best way to strengthen my funds in order that it doesn’t matter what occurs, I’ll more than likely be OK. I need to share what I’ve discovered to assist extra individuals survive downturns with out an excessive amount of hurt. Studying Purchase This, Not That will assist armor your funds and supply safety in your family.
For therefore lengthy, it’s solely been good occasions. And you could have learn solely the views of people that’ve solely skilled good occasions since 2009. This may be very harmful. Unhealthy occasions will finally come, which is once you’ll want monetary steerage essentially the most.
It’s exhausting to know your true danger tolerance and the way dangerous issues can get for those who don’t undergo a protracted bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound. Now issues are as soon as once more very unsure, which is the place BTNT readers will outperform.
Purchase This, Not That will show you how to navigate by stormy waters in order that regardless of how wretched the financial system, you’ll not drown however thrive. Having peace of thoughts throughout tough occasions is priceless.
Thank You For Studying Purchase This, Not That!
I’m thrilled for y’all to learn Purchase This, Not That: How To Spend Your Method To Wealth And Freedom. I really violated my writer’s advice of conserving the phrase depend to 80,000 phrases. As a substitute, I wrote about 111,000 phrases so I may add as a lot worth as potential given nonfiction finance books are all priced about the identical.
It’s a huge guide full of important info that can assist you get pleasure from a greater life. There are such a lot of necessary topics that I consider you’ll really be left wanting for a guide two!
Purchase This, Not That is supposed to be learn and mentioned with mates and family members. You’ll have a good time debating my reasonings and making your personal instances. I really consider dialogue and listening to the views of others is one of the simplest ways to be taught and develop.
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers under. As a thanks for putting a pre-order, you’ll get entry to my behind-the-scenes interview as a free bonus. Merely fill out this kind with the small print of your pre-order buy.
For those who order 2 or extra exhausting cowl copies, I’ll ship you a free signed bookplate as nicely. Please fill out this kind after finishing your buy to submit your buy particulars and mailing tackle.
To Your Monetary Freedom,
P.S. For those who’re fascinated by bulk ordering (>30) in your guide membership, firm, or group, please e-mail gross sales AT financialsamurai DOT com. I’ll put you in contact with Penguin for a bulk order low cost. In any other case, Amazon offers those that pre-order the bottom worth assured primarily based on no matter low cost they provide from now till launch.
Up to now I’ve video talks with of us at Google, Yelp, William & Mary, and several other different organizations. In case your group wish to assist my guide and take heed to a personal speak, please shoot me an e-mail or depart a remark.