Personal Finance
Release Date: August 6, 2019
Why wait until 65 to retire when you can start doing what you really want when you are in the prime of your life? Whether your dream is to start your own business, volunteer, or work less, Chris Dumont provides a blueprint to early retirement and the best advice on the stock market to gain control of your finances today.
After reading this book:
• You will learn how Chris went from being over $50,000 in debt to being debt-free, owning multiples properties, and a six-figure stock portfolio within four years.
• You will be more financially secure. Chris shows you how to pay off all your debts. Once you are debt-free, you can hit your savings goals.
• You will create a budget using an easy-to use-system, with savings and expenses automatically deducted.
• You will not spend hours managing your money. Once you set things up, managing your money will be so simple that you only focus on it once a month.
You will also learn:
• Being happier with less by spending on what makes you happy.
• How much money you need to retire. (Hint: It’s not as much as you think!)
• Car advice on whether you should lease, own, or buy.
• Negotiating salaries and raises and incorporate side hustles to increase your income.
• Common investing mistakes to avoid and easy-to-understand index funds with ETFs.
• Tax-advantaged accounts you should use and why for both Americans and Canadians.
• Real estate advice and whether you should rent or own.
• And much more!
Everything he shows you is…
SET – AND – FORGET
You are covered by your emergency fund when you need it, from accidents to losing your job.
Start using the concepts he teaches in this book and retire in comfort in as few as 10 years.
Once retired, learn how to stay active and accomplish what you have always wanted.
What are you waiting for? Take control of your future today and start kicking financial ass!
Excerpt
Many people say that money does buy happiness, and they would be right. Statistically speaking, household income is strongly related to both emotional well-being and a person’s evaluation of their own quality of life—up to a point. Past that, however, there are diminishing returns between dollars earned and happiness. Multiple studies show that after making $75,000 to $80,000 per year, the difference in the emotional well-being an extra dollar makes in reducing negative emotions becomes less and less. The difference between earning $20,000 and $40,000 is huge and life-changing. The difference between earning $120,000 and $140,000 means your car might have nicer seats. The difference between making $1,000,000 and $1,020,000 is a rounding error. You require a certain amount of financial security before you can move onto your other needs and move up the hierarchy.
After over a decade of studies, University of Illinois psychologist and researcher Dr. Edward Diener, who specializes in what makes people happy, concluded that money can add pleasure to people’s lives, but it does not bring the true happiness that comes with self-respect, accomplishment, and satisfaction. Diener’s conclusions are supported by Richard Layard, British labor economist at the London School of Economics, who writes, “Despite our huge increase in affluence, people in the West have grown no happier in the past fifty years.” We keep striving for more and more things, living in the most prosperous historical period of all time, and yet, we are not getting happier.
About the Author
Chris Dumont is the founder of MoneySensei.com, a personal finance hub that helps people become debt-free.
For nearly a decade, he has worked in finance learning both inside and outside the classroom the fundamentals of personal finance. Chris holds an MBA from the Schulich School of Business in Toronto, Ontario and a Bachelor of Commerce from the Alberta School of Business with a major in Finance. He completed his CFA designation in 2016.
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