Summary of Financial Freedom

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

Financial Freedom book summary
Start getting smarter:
or see our plans

Rating

8

Qualities

  • Innovative
  • Concrete Examples
  • Engaging

Recommendation

Podcaster Grant Sabatier drew on his experience to write this entertaining introduction to personal finance. In five years, he went from being broke and unemployed to generating $1 million. He assumes you want to be financially independent and that you don’t know much about how to do it, so he helps you figure out how much capital you need to live on your own terms. Sabatier then details viable options, like developing a side business, or investing in stocks or real estate. Throughout, he offers tips on how to act sensibly and minimize your risk.

About the Author

Grant Sabatier, host of the Financial Freedom podcast, set up MillenialMoney.com, which reaches more than 10 million readers.

 

Summary

Decide how much capital you need to gain “financial freedom.”

As you set out to calculate how much money you need to stop worrying about money, the number that works for you could be a figure that lets you cover your bills, pay off your loans or travel. Don’t expect to follow rigid rules to reach your target. Your location, how frugal you are, the performance of the stock market and other factors can affect how much money you need. Regard this process as fluid: Your preferences could evolve and change in the future.

Your lifestyle will determine how much money you need. Think about what qualifies as a wonderful day for you. You may discover that you don’t need a lot of money to live an enjoyable, satisfying life. If you start your journey while you’re young, you’ll need less money before retirement, because your investments will grow through of the power of compounding. To increase the chance of your money lasting as long as you live, hit these goals:

  • Save “at least 25 times your expected annual expenses.”
  • Delay cashing in the gains from your investments.
  • Make sure you have enough money to fund a year...

More on this topic

Customers who read this summary also read

This Is the Year I Put My Financial Life in Order
9
The Index Card
9
Happy Money
8
55, Underemployed, and Faking Normal
9
Indispensable by Monday
7
Startup Life
7

Related Channels

Comment on this summary