He also recommends investing in a Roth IRA, rather than a traditional 401K, because the Roth accounts are safer and usually pay back higher dividends. He says, "Generally 401k and 403b accounts underperform IRA accounts because they offer less options and flexibility for investments and impose higher fees" (Green 101). He talks about how the stock market is not such a good investment anymore since it fell in 2008, and he offers ways to make the stock market more effective. These are all good ways to get finances back on track once you have saved some money, and they make you feel more effective in managing your own financial future.
A big portion of the last part of the book is devoted to the stock market and how to make it work for you. This is probably the most confusing part of the book. It is written as simply as possible, but this is not a very simple topic, and so it is often confusing and difficult to read. The author has a good understanding of what he is trying to explain, that is clear, but it is a complex topic, and sometimes it just sounds like gibberish. For example, he writes, "Let's test the chin of the EC/SMC to see how it stands up under real market conditions in two different sectors: XLF, a financials ETF; and XLU, a utilities EFT, using $10,000 invested in each sector" (Green 125). He explains the terms and ideas, but still, this part of the book is challenging to read and understand, and it could be the biggest weakness of this book.
Another thing he notes in the book is that even though the economy is starting to improve a little, it could happen again. He writes, "Once the sugar high from government stimulus money has run its course, the economy will be in trouble without robust consumer spending, which is 70% of the economy, and the stock market may be in trouble again" (Green 160). That is really frightening for everyone, but especially for college students who are looking at trying to find a job in this market in a few months or years. So much has been said about recovery, it is difficult and scary to imagine that everything could fall apart again soon. It is clear the author knows what he is talking about, so I believe him, and that makes it even scarier to think about and consider. Hopefully, that will not happen, but knowing it could is unsettling at best.
The author's writing style is easy to read and understand, (except for the stock market section), and most of his ideas make good sense. It is well written and formatted, and does not seem as much of an e-book as many others I have seen. Sometimes they look cheesy and do not have much depth, but his is very professional and well done. He shows how just about anyone can gain financial freedom by using his methods, and that was his purpose in writing the book. He makes it sound easy enough that anyone can do it, and he gives hope to people who may be looking at a financial crisis right now. The book is easy to read, and he uses graphs, charts, and illustrations to break up the text and make it more readable. His advice is sound, and the way he presents it is attractive and compelling, which makes you want to read more. It is a good example of a self-published e-book, and I would recommend it to other readers, especially anyone who wants to improve their financial health and overall well-being.
I think the book achieves its goals and objectives, and I do feel like I know more about financial security after reading it. I think it has helped round out my financial education, and has offered some solutions that I had not thought about. It has definitely gotten me more interested in saving for the future. His example of saving a dollar a day and gaining interest on it throughout your life is very motivating. Just about anyone can save a dollar a day, and when you look at it like that, it does not seem so difficult, which was his point. I am going to try to save a dollar a day and put it away without touching it, because I want a healthy financial future, and I would like to be in charge of my finances and know that I can weather anything the economy can throw at me as I age.
I am also going to reread the stock market section and make more sense out of it. I think that investments are certainly in my future, and I like his advice that you have to take charge of your own investments and understand them, rather than leaving your future to a broker. I liked how he compared managing your stocks to a fantasy sports league, it made it a little easier to understand, and he said it could take as little as five minutes, which made me more motivated to understand the process. I think this was an important aspect of the book, it was motivating, and that shows that the author is talented and understands his topic, as well.
In conclusion, I would recommend this book to others, and I am glad I read it. I would actually look for other publications from this author, as well, because I respect his advice. This is a good book for anyone who wants financial health, and it is worth the price. I think the author presents his theme well, he writes in a good style, and the information he presents is for the most part easy to understand, and more importantly, to put into practice. It ha motivated me to change the way I think about money, and I think it would do that for others, too. I will keep this file on my computer and refer back…