Why I Wrote A New Private Finance Guide: Purchase This, Not That

Properly people, I did it! After two years of writing and enhancing throughout the pandemic, my e book, Purchase This, Not That: How To Spend Your Approach To Wealth And Freedom is completed! It comes out on June 28, 2022, in shops in every single place.

After spending a mixed 30+ years working in finance, finding out finance, and writing about finance, I firmly consider Purchase This, Not That (BTNT) shall be top-of-the-line private finance books on the market. It’s the e book I’ve at all times wished to write down to assist readers in every single place reside 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 simply too necessary to be left as much as pontification. Consequently, all the pieces I’ve written within the e book relies on firsthand expertise. This manner, I can share with you the great and the dangerous that will help you make higher choices. The key to cease saying, “If I knew then what I do know now,” is to easily study from somebody who has been by means of 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 arrogance 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 under to make sure supply on the discharge date.

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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 simply a method to an finish. And for these of you who deal with cash as the top all be all, I hope my e book will assist change your philosophy.

When you obtain a sure stage of monetary independence, the place your passive funding earnings covers your residing bills, the world opens up.

The last 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 e book. With actionable recommendation beneath a logical framework, I assist you to transfer ahead with confidence.

Fixing Dilemmas We Could One Day Encounter

Within the second half of my e book, I discuss lots of life’s dilemmas and the right way to method them utilizing my 70/30 decision-making framework.

Should you consider there’s a 70% likelihood or better you’ll make the right resolution, go for it! On the identical time, have the notice of realizing chances are you’ll get issues fallacious 30% of the time. Until the end result is loss of life or monetary spoil, it is possible for you to to study out of your errors, get well, and make higher selections over time.

My e book encourages you to suppose in possibilities, not absolutes. Should you suppose in absolutes, you’ll possible miss out on plenty of nice alternatives since you’ll really feel you want 100% certainty earlier than transferring ahead. Nevertheless, when you begin considering in possibilities, an entire new world of potentialities opens up.

Listed here are some dilemmas the e book explores:

  • Pay for personal college or public college
  • 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 totally reworked house
  • 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 maintain separate accounts
  • Break up or keep married
  • Search fame to spice up your wealth or keep low key
  • Assist 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 selections that issues most. If any of those matters curiosity you, Purchase This, Not That will assist you to reduce 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 fingers full. Nevertheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, concerning the thought, 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 house anyway for who knew how lengthy, I’d as effectively benefit from a suboptimal state of affairs. Moreover, such alternatives don’t come round fairly often.

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 believe again to the worldwide monetary disaster, I instantly take into consideration our small seaside 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 realizing I did one thing productive to assist others.

Listed here are some extra the explanation why I wrote my newest e book.

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1) It Had To Be Written

One of many the explanation why I began Monetary Samurai in 2009 is as a result of I seen 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 somewhat otherwise and wished to convey my experience and views to the world.

Once I was approached by Portfolio Penguin Random Home with the e book thought, I seen 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 effectively fill the outlet once more!

After having the ability to escape company America in my mid-30s and reside the life I would like for the previous 10 years, I simply needed to write a e book that would assist different folks doubtlessly do one thing related. 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 shoppers on the market who like to learn books and never blogs. Due to this fact, it was solely logical to write down Purchase This, Not That to attempt to attain them.

Creating most affect in an reasonably priced means is necessary. I might create $2,000+ e-courses like some people. Nevertheless, I felt packing in all the knowledge 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 choices and be a extra empathetic particular person alongside the way in which. Purchase This, Not That contains many blindspots I’ve needed to doubtlessly assist others see issues extra clearly.

The world is in want of extra monetary schooling. A private finance course must be obligatory in highschool or school, however it’s curiously not. I reside 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 convey extra monetary schooling to those that search to develop their wealth. It’s our responsibility to share what we all know.

3) Slender The Rising Inequality Hole

For the reason that international 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 effectively. I need to convey their “secrets and techniques” and methods of investing and considering to the general public with the intention 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 fascinating and doubtlessly profitable matters? In spite of everything, you possibly can 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 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 finally slender.

Massive wealth gap

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 school, I turned 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 laborious 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 have been harsh, additionally they gave me super motivation to strive more durable.

By highschool, I clearly realized the world isn’t truthful and by no means shall be. Due to this fact, as a substitute of complaining, I accepted the way in which issues have been and targeted on what I might management. I convey this fighter’s mindset to the e book to provide the motivation to push on by means of irrespective of who you might be or how troublesome your struggles.

We all know persons are biased in direction of individuals who look, suppose, and speak like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite colleges are typically fairly homogenous. I even found all of the e book blurbs behind nonfiction finance books are written by the identical kinds of folks.

Due to this fact, I assumed it might be good to vary issues up somewhat and supply new views. Perhaps there shall be extra love and understanding for Asian people in America in the event that they learn e book by an Asian one who helps them. Maybe children who seldom see anyone who seem like them shall be impressed to write down their very own e book someday.

Together with Individuals Who Reside In Excessive Value Areas

As well as, a big proportion of each nation’s inhabitants lives in dearer city cities. Excessive value of residing areas presents some distinctive challenges which I tackle within the e book.

With how bifurcated America is, I’m hoping to create an understanding bridge between those that reside on the costly coasts and people who reside inland.

I’m satisfied most battle on this world is because of a lack of awareness of different folks and their private conditions. Let’s spend extra time attending to know one another.

5) Regular Navigation Via Unhealthy Instances

As somebody who has labored in finance since 1999, I’ve gone by means of the euphoria and despair of the primary Dotcom bubble. Then I went by means of the funding mania of 2007 and the devastation just a few years later.

After every collapse, I’ve discovered the right way to strengthen my funds in order that it doesn’t matter what occurs, I’ll most certainly 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 bullet-proof your funds.

For therefore lengthy, it’s solely been good instances. And you could have learn solely the views of people that’ve solely skilled good instances since 2009. Nevertheless, dangerous instances will ultimately come, which is once you’ll want monetary steering probably the most.

It is rather laborious to know your threat 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 assist you to navigate by means of 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 Approach To Wealth And Freedom. I truly violated my writer’s advice of retaining the phrase depend to 80,000 phrases. As a substitute, I wrote about 111,000 phrases so I might add as a lot worth as potential given nonfiction finance books are all costs about the identical.

Sure, it’s a large e book that can take longer than typical to learn. However there are such a lot of necessary topics I tackle that I consider you’ll truly be left wanting e book two.

Purchase This, Not That is supposed to be learn and mentioned with associates and family members. You’ll have a good time debating my reasonings and making your individual 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 throughout the U.S. Open. Keep tuned!

Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers under. 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 kind with the main points of your pre-order buy.

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To Your Monetary Freedom,


P.S. Should you’re enthusiastic about bulk ordering (>30) in your e book membership, firm, or group, please e-mail gross sales AT financialsamurai DOT com. I can put you in contact with Penguin for a bulk order low cost. In any other case, Amazon offers those that pre-order the bottom value assured primarily based on no matter low cost they provide from now till launch.

I shall be doing video talks with staff at Google, Yelp, and several other different corporations and colleges. In case your group want to help my e book, please shoot me an e-mail or depart a remark.

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