After two years of writing and modifying in the course of the pandemic, my e book, Purchase This, Not That: How To Spend Your Means To Wealth And Freedom is completed! It comes out on June 28, 2022, in shops in all places.
After spending a mixed 30+ years working in finance, finding out finance, and writing about finance, I firmly consider Purchase This, Not That (BTNT) might be top-of-the-line private finance books on the market. It’s the e book I’ve all the time wished to jot down to assist readers in all places stay 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 e book shine.
Cash is just too vital to be left as much as pontification. Because of this, every little thing I’ve written within the e book relies on firsthand expertise. This manner, I can share with you the nice and the dangerous that will help you make higher selections. The key to cease saying, “If I knew then what I do know now,” is to easily study 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 provides you the boldness to face life’s largest dilemmas in a wise and sensible method.
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers beneath 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 just a way to an finish. And for these of you who deal with cash as the tip all be all, I hope my e book will assist change your philosophy.
When you obtain a sure degree of monetary independence, the place your passive funding earnings covers your dwelling bills, the world opens up.
The final word purpose is to maneuver cash into the background so you may cease obsessing over it and begin specializing in doing issues that matter.
I present you the way within the first half of my e book. With actionable recommendation below a logical framework, I make it easier to transfer ahead with confidence.
Fixing Dilemmas We Might One Day Encounter
Within the second half of my e book, I speak about a lot of life’s dilemmas and the way to strategy them utilizing my 70/30 decision-making framework.
Should you consider there’s a 70% chance or higher you’ll make the proper resolution, go for it! On the similar time, have the attention of realizing it’s possible you’ll get issues incorrect 30% of the time. Except the result is demise or monetary damage, it is possible for you to to study out of your errors, recuperate, and make higher decisions over time.
My e book encourages you to assume in possibilities, not absolutes. Should you assume in absolutes, you’ll seemingly miss out on a variety of nice alternatives since you’ll really feel you want 100% certainty earlier than transferring ahead. Nevertheless, for those who begin considering in possibilities, an entire new world of prospects opens up.
Listed below are some dilemmas the e book 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
- Stay in an costly coastal metropolis or transfer to a low-cost space
- Put money into actual property or shares
- When to put money into tax-advantaged versus taxable accounts
- Purchase a fixer or a totally transformed residence
- Marry for love or marry for cash
- Have kids 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
- Help your grownup kids or allow them to study 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 decisions that issues most. If any of those matters curiosity you, Purchase This, Not That will make it easier to decrease remorse and maximize satisfaction.
Why I Wrote Purchase This, Not That
I wasn’t planning on writing a historically revealed e book. As a drained father of two younger kids who additionally publishes three-to-four instances per week on Monetary Samurai, I already had my arms full. Nevertheless, 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 residence anyway for who knew how lengthy, I’d as nicely benefit from a suboptimal state of affairs. In addition to, such a problem doesn’t come round too usually.
Again in 2008, one thing comparable occurred. The worldwide monetary disaster was beginning to deepen and I used to be dropping a boatload of cash. Nevertheless, 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 wish to lose her.
Now, each time I believe again to the worldwide monetary disaster, I instantly take into consideration our small seashore wedding 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 realizing I did one thing productive to assist others.
Listed below are some extra the reason why I wrote my newest e book.
1) It Had To Be Written
One of many the reason why I began Monetary Samurai in 2009 is as a result of I observed there weren’t any private finance bloggers with finance backgrounds. Due to this fact, I assumed it might be a good suggestion to fill this apparent gap. I considered cash a little bit in a different way and wished to deliver my experience and views to the world.
Once I was approached by Portfolio Penguin Random Home with the e book concept, I observed there additionally weren’t many nonfiction finance books that have been written by folks with finance backgrounds. Due to this fact, I figured I’d as nicely fill the outlet once more!
After with the ability to escape company America in my mid-30s and stay the life I need for the previous 10 years, I simply needed to write a e book that would assist different folks doubtlessly do one thing comparable. When you see how one thing is completed, it’s a lot simpler to consider an analogous path is feasible for you.
2) The Significance Of Monetary Training
There’s an entire world of customers on the market who like to learn books and never blogs. Due to this fact, it was solely logical to jot down Purchase This, Not That to try to attain them.
Creating most affect in an reasonably priced approach is vital. I might create $2,000+ e-courses like some of us. Nevertheless, I felt packing in all the data in a e book that prices $27 or much less was a extra accessible resolution.
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 selections 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 necessary in highschool or faculty, however it’s curiously not. I stay on this bubble the place I studied economics in faculty, bought 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. Due to this fact, my purpose is to deliver extra monetary training to those that search to develop their wealth in a risk-appropriate approach. It’s our responsibility to share what we all know.
3) Slim The Rising Inequality Hole
Because the international 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 wish to deliver their secrets and techniques and methods of investing and considering to the general public with a purpose to assist extra folks 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 saved questioning why not additionally write about extra attention-grabbing and doubtlessly profitable matters? In any case, you may solely save a lot. However earnings and funding returns are limitless.
After over a 12 months of writing and re-writing my e book, I lastly understood why. With out a finance background, writing about the rest is way more troublesome. Therefore, I’ve tried to introduce useful monetary ideas whereas additionally making them simple to know.
My hope is that with the data you’ll achieve from studying Purchase This, Not That, you’ll construct far more wealth in your lifetime than you thought doable. And if this occurs, your way of life 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 faculty, I grew to become a part of a minority that made up solely six p.c of the U.S. inhabitants. The juxtaposition was eye-opening.
At instances, it was exhausting to slot in. I bought 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 have been harsh, additionally they gave me super motivation to strive more durable.
By highschool, I clearly realized the world isn’t honest and by no means might be. Due to this fact, as a substitute of complaining, I accepted the best way issues have been and targeted on what I might management. I deliver this fighter’s mindset to the e book to provide the motivation to push on by irrespective of who you’re or how troublesome your struggles.
We all know persons are biased in the direction of individuals who look, assume, and discuss like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite colleges are typically fairly homogenous.
Due to this fact, I assumed it might be good to alter issues up a little bit and supply new views. Possibly there might be extra love and understanding for Asian of us in America in the event that they learn e book by an Asian one who helps them. Maybe youngsters who seldom see anyone who seem like them might be impressed to jot down their very own e book or do one thing out of the atypical.
Together with Individuals Who Stay In Excessive Value Areas
As well as, a big proportion of each nation’s inhabitants lives in dearer city cities. Excessive price of dwelling areas presents some distinctive challenges which I deal with within the e book.
With how bifurcated America is, I’m hoping to create an understanding bridge between those that stay on the costly coasts and people who stay inland.
I’m satisfied most battle on this world is because of a lack of information of different folks and their private conditions. Let’s spend extra time attending to know one another.
Shoutout to 3X NBA champ Shaun Livingston, Bloomberg TV host Emily Chang, and fellow blogger Kumiko Love for offering some e book blurb love!
5) Regular Navigation By means of Unhealthy Instances
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.
After every collapse, I’ve discovered the way to strengthen my funds in order that it doesn’t matter what occurs, I’ll more than likely be OK. I wish to share what I’ve discovered to assist extra folks survive downturns with out an excessive amount of hurt. Studying Purchase This, Not That will assist bullet-proof your funds.
For therefore lengthy, it’s solely been good instances. And you might have learn solely the views of people that’ve solely skilled good instances since 2009. This may be very harmful. Unhealthy instances will ultimately come, which is whenever you’ll want monetary steerage probably the most.
It’s exhausting to know your true threat tolerance and the way dangerous issues can get for those who don’t undergo a chronic bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound.
Purchase This, Not That will make it easier to navigate by stormy waters in order that irrespective of how wretched the economic system, you’ll land in your toes. Having peace of thoughts throughout troublesome instances 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 Means To Wealth And Freedom. I really violated my writer’s advice of protecting the phrase rely to 80,000 phrases. As an alternative, I wrote about 111,000 phrases so I might add as a lot worth as doable given nonfiction finance books are all priced about the identical.
Sure, it’s a huge e book that may take longer than traditional to learn. However there are such a lot of vital topics that I consider you’ll really be left wanting for a e book two.
Purchase This, Not That is supposed to be learn and mentioned with pals 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 study and develop.
I plan to do some in-person occasions within the San Francisco Bay Space, Honolulu, and maybe NYC in the course of the U.S. Open. Keep tuned!
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers beneath. 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 way with the small print of your pre-order buy.
Should you order 2 or extra exhausting cowl copies, I’ll ship you a free signed bookplate as nicely. Please fill out this way after finishing your buy to submit your buy particulars and mailing deal with.
To Your Monetary Freedom,
P.S. Should you’re considering bulk ordering (>30) on your e book 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 gives those that pre-order the bottom worth assured primarily based on no matter low cost they provide from now till launch.
I might be doing video talks with workers at Google, Yelp, William & Mary, and a number of other different organizations by July. In case your group want to help my e book, please shoot me an e-mail or go away a remark.