After two years of writing and enhancing throughout 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 all places.
After spending a mixed 30+ years working in finance, finding out finance, and writing about finance, I firmly imagine Purchase This, Not That (BTNT) shall be among the best private finance books on the market. It’s the guide I’ve at all times wished to jot down to assist readers in all places dwell higher lives on their phrases.
Throughout the course of my writing course of, I additionally learn over a dozen nonfiction books to grasp 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. In consequence, every part I’ve written within the guide 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 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 greatest 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 actually matter to you. In spite of everything, cash is just a method to an finish. And for these of you who deal with cash as the tip 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 objective is to maneuver cash into the background so you possibly can cease obsessing over it and begin specializing in doing issues that matter.
I present you ways within the first half of my guide. With actionable recommendation below a logical framework, I aid you transfer ahead with confidence.
Fixing Dilemmas We Might One Day Encounter
Within the second half of my guide, I discuss a lot of life’s dilemmas and how you can strategy them utilizing my 70/30 decision-making framework.
When you imagine there’s a 70% chance or higher you’ll make the proper determination, go for it! On the identical time, have the notice of understanding it’s possible you’ll get issues flawed 30% of the time. Except the end result is loss of life or monetary smash, it is possible for you to to be taught out of your errors, recuperate, and make higher decisions over time.
My guide encourages you to suppose in chances, not absolutes. When you suppose in absolutes, you’ll possible miss out on loads of nice alternatives since you’ll really feel you want 100% certainty earlier than transferring ahead. Nevertheless, when you begin pondering in chances, loads of new potentialities opens up.
Listed below are some dilemmas the guide explores:
- Pay for personal faculty or public faculty
- Be a 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 completely reworked 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 be taught to swim
And so many extra subjects.
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 subjects curiosity you, Purchase This, Not That will aid you decrease 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 kids who additionally publishes three-to-four instances per week on Monetary Samurai, I already had my palms full. Nevertheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, in regards to the concept, I used to be intrigued.
When the pandemic hit in March 2020, I believed why not! If I used to be going to be caught at residence anyway for who knew how lengthy, I’d as properly benefit from a suboptimal state of affairs. In addition to, such a problem doesn’t come round too typically.
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. 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 need to lose her.
Now, each time I feel again to the worldwide monetary disaster, I instantly take into consideration our small seashore 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 understanding I did one thing productive to assist others.
Listed below are some extra explanation why I wrote my newest guide.
1) It Had To Be Written
One of many explanation 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 believed it could be a good suggestion to fill this apparent gap. I thought of cash somewhat otherwise and wished to deliver my experience and views to the world.
Once I was approached by Portfolio Penguin Random Home with the guide concept, I observed there additionally weren’t many nonfiction finance books that had been written by folks with finance backgrounds. Due to this fact, I figured I’d as properly fill the outlet once more!
After with the ability to escape company America in my mid-30s and dwell the life I need for the previous 10 years, I simply needed to write a guide that would assist different folks probably do one thing related. When you see how one thing is finished, it’s a lot simpler to imagine an analogous path is feasible for you.
2) The Significance Of Monetary Schooling
There’s a complete 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 attempt to attain them.
Creating most affect in an reasonably priced method is necessary. I might create $2,000+ e-courses like some in my friends do. Nevertheless, I felt packing in all the data 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 selections and be a extra empathetic particular person alongside the way in which. Purchase This, Not That consists of many blindspots I’ve needed to probably assist others see issues extra clearly.
The world is in want of extra monetary training. A private finance course ought to be obligatory in highschool or school, however it’s curiously not. I dwell on this bubble the place I studied economics in school, obtained 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 objective is to deliver extra monetary training to those that search to develop their wealth in a risk-appropriate method. It’s our responsibility to share what we all know.
3) Slim The Rising Inequality Hole
For the reason that world monetary disaster in 2008-2009, the wealthy have gotten terribly wealthy in comparison with the center class. In the meantime, these within the prime 0.1%, have blown previous the highest 1% as properly. I need to deliver their secrets and techniques and methods of investing and pondering to the general public as a way 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 stored questioning why not additionally write about extra attention-grabbing and probably profitable subjects? In spite of everything, you possibly can 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 grasp.
My hope is that 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 way of life will go up and the rising inequality hole will in the end slender.
4) New Views With Extra Illustration
As an Asian one that 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 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 obtained into fistfights, was suspended as soon as, and felt like I used to be typically battling to be given an equal alternative to take part. Though a number of the experiences had been harsh, additionally they gave me great motivation to attempt tougher.
By highschool, I clearly realized the world isn’t honest and by no means shall be. Due to this fact, as an alternative of complaining, I accepted the way in which issues had been and targeted on what I might management. I deliver 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.
We all know individuals are biased in direction of individuals who look, suppose, and discuss like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite faculties are typically fairly homogenous.
Due to this fact, I believed it could be good to vary issues up somewhat and supply new views. Possibly there shall be extra love and understanding for Asian people in America in the event that they learn guide by an Asian one that helps them. Maybe youngsters who seldom see anyone who seem like them shall be impressed to jot down their very own guide or do one thing out of the extraordinary.
Together with Folks Who Reside In Excessive Value Areas
As well as, a big share of each nation’s inhabitants lives in dearer city cities. Excessive price of residing areas presents some distinctive challenges which I handle 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 targets of supporting our nation and doing extra of what we wish.
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 and fewer time judging folks for his or her decisions.
5) Regular Navigation Via 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 with a big quantity of capital.
After every collapse, I’ve discovered how you can strengthen my funds in order that it doesn’t matter what occurs, I’ll most definitely be OK. I need 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 armor your funds and supply safety on your family.
For therefore lengthy, it’s solely been good instances. And you will have learn solely the views of people that’ve solely skilled good instances since 2009. This may be very harmful. Unhealthy instances will finally come, which is once you’ll want monetary steering probably the most.
It’s exhausting to grasp your true danger tolerance and the way dangerous issues can get when you don’t undergo a protracted bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound.
Purchase This, Not That will aid you navigate by stormy waters in order that regardless of how wretched the economic system, you’ll not drown however thrive. Having peace of thoughts throughout tough 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 Method To Wealth And Freedom. I really violated my writer’s advice of maintaining 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 potential given nonfiction finance books are all priced about the identical.
It’s a huge guide that may take longer than ordinary to learn. However there are such a lot of necessary topics that I imagine 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 circumstances. I really imagine dialogue and listening to the views of others is one of the best ways to be taught and develop.
I plan to do some in-person occasions within the San Francisco Bay Space, Honolulu, and maybe NYC throughout 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 form with the main points of your pre-order buy.
When you order 2 or extra exhausting cowl copies, I’ll ship you a free signed bookplate as properly. Please fill out this form after finishing your buy to submit your buy particulars and mailing handle.
To Your Monetary Freedom,
P.S. When you’re desirous about bulk ordering (>30) on 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 supplies those that pre-order the bottom value assured based mostly on no matter low cost they provide from now till launch.
I shall be doing video talks with staff at Google, Yelp, William & Mary, and several other different organizations by July. In case your group wish to help my guide, please shoot me an e-mail or go away a remark.