"A Fool with a plan can outsmart a Genius any day" - T Boone Pickens (CEO of BP Capital)
I have recently read a brilliant financial planning book “Master your Money. Master your Life” written by Abhishek Kumar. Even though I have already read dozens of books about Financial planning, however, this book tops my favorite list for the author's brilliant skills of explaining the complicated financial jargon in simple English that can be understood by anyone who can read English.
This book highlights beautifully that “It is not about how much you earn, but how well you plan your finances that makes you Rich”.
After reading this book, I strongly regret “Why I haven’t read such a good Financial planning book before Fifteen years?”. I convince myself that it is better late than Never.
If I am the principal of a College, I will give this book as a gift during the convocation for all the graduates. In the current situation, Middle-class salaried professionals are highly talented to earn lots of money, however, when it comes to planning their finances, they score below average.
This book clearly captures the mistakes of every salaried middle-class professional in India. Some of the rare salaried Professionals, read the Financial planning books written by the American authors and try to follow the same formula in the Indian Sub-continent. Please be informed that we can take the good Financial planning concepts from the American authors, however when it comes to Investment we need to plan according to the current Indian Economic situation and policies. For Example, buying a Real Estate in the United States might be a lucrative investment, however, the same might not be considered a good investment in India currently due to many factors. So, only this book is highly recommended as it talks considering the current Indian Economic situations.
Key highlights of the Books :
- Importance of Goals
- Power of Compound Interest
- Index Funds and its importance
- Hidden Secrets of Stock Markets and Mutual Funds
- Importance of Term Insurance
- Five Fundas
- Financial Freedom Account
- Emergency Fund Account
- Sinking Fund Account
- Fun Account
- Necessity Account
- You will know the insights and tools about how to make your money work for you.
- How to wisely Insure yourself and your Family, without falling prey to marketing gimmicks.
- You will start living like a millionaire, who is living next door.
- You can retire early RICH and you can live your dreams.
Con’s :
- You will stop using a Credit card with immediate effect.
- You will never apply for Personal Loan, Vehicle Loan, etc.
- You will never buy things in EMI, even though it is no cost EMI.
- You will be happy in growing your money rather than spending the money.
- You will accumulate a huge amount of money so that your children can live their dreams and don’t need to work for money.
Verdict :
I strongly recommend this book to all the Middle-Class Working Professionals to plan their finances wisely.
If you have already had good knowledge about Financial Planning, it will just hit the refresh button. You can also use this book as a blueprint to check whether you are going in the right direction to your financial freedom.
Final Words :
If you like this book, please recommend it to your family and friends who are living in an illusion to enlighten them to live a financial free blissful life. Let them also sleep peacefully, knowing the secrets of Financial planning.
Wish you success and Abundance. Happy Reading.
