Summary of The Last Safe Investment

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Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Traditional financial advice recommends investing in stocks, bonds and real estate. The economics of investment since 2000 poke some holes in that strategy. San Francisco business advisers Bryan Franklin and Michael Ellsberg provide an alternative plan centered on developing yourself as your biggest investment asset. They urge you not to wait until retirement to be happy, because your current happiness substantially influences your prosperity. Franklin and Ellsberg identify major skill areas and explain their value as assets. The authors convincingly argue that taking care of yourself and building yourself up with learning, great relationships and purposeful work generates both material and spiritual well-being. getAbstract recommends their worthwhile if slightly New Agey ideas to businesspeople who seek balance in their lives and want to assemble all the elements that make up a secure future.

About the Authors

Coach and consultant Bryan Franklin helped seven companies grow to more than a billion dollars in sales. Forbes blogger Michael Ellsberg wrote The Education of Millionaires.

 

Summary

The Traditional Wealth Model

Most financial advisers still insist that stock-market investments, home ownership and a college education are the best ways to increase your wealth. The last 15 years disprove this notion. Since 2000, most home values barely kept up with inflation, and the S&P stock market rose only 1.9% above inflation. Student debt totals more than $1 trillion, outstripping even credit-card debt. Cultivating debt in order to work hard, earn more and save for the future no longer assures an easy retirement. Delaying happiness simply doesn’t work.

People with sound financial plans enjoy their lives, not just their retirement. As markets fluctuate and economic futures remain uncertain, a good financial plan shouldn’t depend on yearning for stability. You are the heart of your financial plan, and you can build it better than any external adviser. Your best investment is in yourself.

“SAFE”: Your “Self-Amplifying Financial Ecosystem”

The SAFE plan takes a different approach to your financial future. Friends, free time, work and expenses are all investments. You can’t separate your finances from the satisfaction of being a good friend, from...


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