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Safely Prosperous or Really Rich?

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Safely Prosperous or Really Rich?

Choosing Your Personal Financial Heaven

Wiley,

15 min. de leitura
10 Ideias Fundamentais
Áudio & Texto

Sobre o que é?

If the turtle gets rich slowly and the hare gets richer or dies broke, which model suits you? Here's to the safe turtle.

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Editorial Rating

8

Qualities

  • Applicable

Recommendation

This book offers a somewhat rambling compendium of solid (if unoriginal) investment advice. Author Howard Ruff’s strength is his blunt, straightforward, unpretentious style. He covers a great deal of ground, discussing everything from the advisability of investing in gold to the principles of life and time management. Many readers will no doubt find this both useful and refreshing. Others will look for more depth – and the author obliges by including appendices with sources of additional information on various topics. getAbstract suggests this book to those who are new at financial planning and who lust for wealth, but are willing to settle for prosperity. And safety. And sound investing.

Summary

Two Roads, Two Destinations

The two destinations are safe prosperity or incredible riches. You reach safe prosperity by a smooth, virtuous road, which is stable, level and unexciting. The road to incredible riches is marked with thrills, risks, rocks, bumps and potholes – and when you get to the destination, if you do, you are the object of envy and a target for taxes. One of the tough things about investing is that you need money to do it. Most investing books are written for people who have money. Yet, even if you only have a little money, for example, your salary as a truck driver, you can accumulate savings slowly and earn your way to prosperity. Patience is the key ingredient. You can go broke trying to get rich quick. Mistakes to avoid include:

  • Taking too much risk – Greed and gambling lead to ruin.Not taking enough risk – There is no return without some risk.
  • Borrowing – Debt, especially debt for consumption, is generally bad. Sometimes, it may make sense to borrow so you can invest, but know what you’re doing.
  • Investing as an outsider – If you seek wealth, be an entrepreneur and an insider.

What Is Money...

About the Author

Howard Ruff has had a long career as financial publisher. He publishes The Ruff Times and is the author of How to Prosper During the Coming Bad Years.

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