After two years of writing and modifying in the course of the pandemic, my e-book, Purchase This, Not That: How To Spend Your Method To Wealth And Freedom is finished! It comes out on June 28, 2022, in shops all over the 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) will probably be among the best private finance books on the market. It’s the e-book I’ve at all times needed to write down to assist readers all over the place dwell 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 essential to be left as much as pontification. Because of this, all the things I’ve written within the e-book is predicated on firsthand expertise. This fashion, I can share with you the great and the unhealthy that will help you make higher selections. The key to cease saying, “If I knew then what I do know now,” is to easily be taught from somebody who has been by 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 beneath to make sure supply on the discharge date.
Monetary Independence Is Solely Half Of The Journey
When you get your cash proper, you can begin higher specializing in issues that basically matter to you. In spite of everything, cash is barely a way 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 purpose 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 make it easier 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.
In case you consider there’s a 70% likelihood or higher you’ll make the proper choice, go for it! On the identical time, have the notice of figuring out chances are you’ll get issues fallacious 30% of the time. Except the end result is demise or monetary damage, it is possible for you to to be taught out of your errors, get better, and make higher selections over time.
My e-book encourages you to assume in chances, not absolutes. In case you assume in absolutes, you’ll probably miss out on loads of nice alternatives since you’ll really feel you want 100% certainty earlier than shifting ahead. Nonetheless, when you begin considering in chances, a complete new world of prospects opens up.
Listed below are some dilemmas the e-book explores:
- Pay for personal college or public college
- Be 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
- Stay 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 residence
- Marry for love or marry for cash
- Have youngsters early or late
- Return to work or be a stay-at-home-parent
- Mix your funds or hold separate accounts
- Break up or keep married
- Search fame to spice up your wealth or keep low key
- Help your grownup youngsters or allow them to be taught to swim
And so many extra subjects.
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 subjects curiosity you, Purchase This, Not That will make it easier to decrease remorse and maximize satisfaction.
Why I Wrote Purchase This, Not That
I wasn’t planning on writing a historically printed e-book. As a drained father of two younger youngsters who additionally publishes three-to-four instances every week on Monetary Samurai, I already had my fingers full. Nonetheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, concerning the concept, 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 residence anyway for who knew how lengthy, I’d as effectively profit from a suboptimal scenario. Moreover, such a problem doesn’t come round too typically.
Again in 2008, one thing comparable occurred. The worldwide monetary disaster was beginning to deepen and I used to be dropping a boatload of cash. Nonetheless, 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 feel 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 figuring out I did one thing productive to assist others.
Listed below are some extra the explanation why I wrote my newest e-book.
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 will be a good suggestion to fill this apparent gap. I thought of cash a bit in another way and needed to deliver my experience and views to the world.
After I was approached by Portfolio Penguin Random Home with the e-book concept, I seen there additionally weren’t many nonfiction finance books that had 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 dwell the life I need for the previous 10 years, I simply needed to write a e-book that might assist different folks doubtlessly do one thing comparable. When you see how one thing is finished, it’s a lot simpler to consider the same path is feasible for you.
2) The Significance Of Monetary Training
There’s a complete 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 try to attain them.
Creating most influence in an inexpensive approach is essential. I might create $2,000+ e-courses like some people. Nonetheless, I felt packing in all the knowledge in a e-book that prices $27 or much less was a extra accessible answer.
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 selections and be a extra empathetic individual alongside the way in which. Purchase This, Not That consists of 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 ought to be obligatory in highschool or school, however it’s curiously not. I dwell on this bubble the place I studied economics in school, received 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 purpose is to deliver extra monetary schooling to those that search to develop their wealth in a risk-appropriate approach. It’s our obligation to share what we all know.
3) Slender The Rising Inequality Hole
For the reason that world 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 deliver their secrets and techniques and methods of investing and considering to the general public to be able 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 stored questioning why not additionally write about extra attention-grabbing and doubtlessly profitable subjects? 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. And not using a finance background, writing about the rest is rather more troublesome. Therefore, I’ve tried to introduce useful monetary ideas whereas additionally making them straightforward to know.
My hope is that with the information you’ll achieve from studying Purchase This, Not That, you’ll construct far more wealth in your lifetime than you thought attainable. And if this occurs, your way of life will go up and the rising inequality hole will finally slim.
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 arduous to slot in. I received 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 among the experiences had been harsh, in addition they gave me great motivation to attempt more durable.
By highschool, I clearly realized the world isn’t truthful and by no means will probably be. Due to this fact, as a substitute of complaining, I accepted the way in which issues had been and centered on what I might management. I deliver this fighter’s mindset to the e-book to provide the motivation to push on by regardless of who you’re or how troublesome your struggles.
We all know persons are biased in direction of individuals who look, assume, and discuss like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite faculties are usually fairly homogenous.
Due to this fact, I assumed it will be good to alter issues up a bit and supply new views. Possibly there will probably be extra love and understanding for Asian people in America in the event that they learn an excellent e-book by an Asian one who helps them. Maybe children who seldom see anyone who seem like them will probably be impressed to write down their very own e-book or do one thing out of the extraordinary.
Together with Individuals Who Stay 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 handle within the e-book.
With how bifurcated America is, I’m hoping to create an understanding bridge between those that dwell on the costly coasts and people who dwell inland.
I’m satisfied most battle on this world is because of a lack of information of different folks and their private conditions. Let’s spend extra time attending to know one another.
5) Regular Navigation By Unhealthy Occasions
As somebody who has labored in finance since 1999, I’ve gone by the euphoria and despair of the primary Dotcom bubble. Then I went by 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 probably 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 might have learn solely the views of people that’ve solely skilled good instances since 2009. This may be very harmful. Unhealthy instances will ultimately come, which is if you’ll want monetary steering essentially the most.
It’s arduous to know your true danger tolerance and the way unhealthy issues can get when you don’t undergo a chronic bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound.
Purchase This, Not That will make it easier to navigate by stormy waters in order that regardless 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 Method To Wealth And Freedom. I truly violated my writer’s suggestion of holding 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 attainable given nonfiction finance books are all costs about the identical.
Sure, it’s a large e-book that may take longer than standard to learn. However there are such a lot of essential topics that I consider you’ll truly be left wanting for a 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 personal circumstances. I really consider dialogue and listening to the views of others is one of the simplest ways to be taught and develop.
I plan to do some in-person occasions within the San Francisco Bay Space, Honolulu, and maybe NYC in the course of the U.S. Open. Keep tuned!
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers beneath. 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 manner with the small print of your pre-order buy.
To Your Monetary Freedom,
Sam
P.S. In case you’re keen on bulk ordering (>30) on your e-book membership, firm, or group, please e-mail gross sales AT financialsamurai DOT com. I’ll 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 will probably be doing video talks with workers at Google, Yelp, William & Mary, and several other different organizations by July. In case your group wish to help my e-book, please shoot me an e-mail or go away a remark.
