A while ago, I was fortunate enough to be offered a copy of this book in return for writing a review about it. I gobbled it down and then posted a review on Amazon, but it kept niggling at me that it was so good that I wanted to let people here know about it too.
Since I got back from Europe a year ago today I’ve been doing one heck of a lot of reading of blogs and books that deal with financial independence. Since then I’ve also made massive changes in where we live, I’ve entered into a plan to knock down our old house and put up townhouses thus accelerating my FIRE plans, I’m back to extreme budgeting due to the joys of bridging finance and I’ve found it all very fascinating.
(For those who are unfamiliar with the acronym, ‘FIRE’ simply means Financial Independence Early Retirement.)
One of the best blogs I’ve so far come across is a blog written by this book’s author. Simply titled jlcollinsnh.com, this blog is an extremely well-written, intelligent look at investing with a view to the long term. In its niche, the blog is famous for its ‘Stock Series’, which is a series of posts breaking down the arcane mysteries of the stock market in simple, easy to understand language, which I found invaluable as I was trying to get my head around things.
The premise of the blog and book is that the author, James Collins, starting writing a set of articles to explain investing to his daughter. She was in her late teens (I think) and wasn’t all that interested in sitting down with her Dad and talking all things share market (imagine that!?!) and so he put the things he’d learned over the years down on paper/the blog so when she was ready, the answers would be there for her. Fortunately for the rest of us, the blog’s settings were public and so the word started to spread.
Although written for the American market, there are more than enough similarities between the American and Australian markets to make this series a ‘must read’ for anyone just starting on this path and wanting a clear, concise explanation about how these things all work.
The book is an extension of the blog. The thing I appreciated most about it is that the author didn’t loftily ignore the rest of the world as he was explaining things, as so many American authors seem to do. When, towards the end of the book, he comes to topics that are peculiar to the US, he states this and offers alternative sources for international readers. A nice courtesy and it saves people from learning things that aren’t applicable to their situation.
In short, if investing for the future interests you and you’d like to become more informed on the subject, the blog and book are a great place to start. I’ve been a member of the Barefoot Investor’s Blueprint for around 3 years now, but this book and other reading I’ve done has started me looking at Index funds as something I’ll be adding to my portfolio.
Once the bridging finance gets paid, of course. (I also listen to Dave Ramsey!)
Buy a copy! Why not? It can’t hurt and it might help…. 🙂