After two years of writing and enhancing through the pandemic, my e book, Buy This, Not That: How To Spend Your Way To Wealth And Freedom is finished! It comes out on June 28, 2022, in shops in all places.
After spending a mixed 30+ years working in finance, finding out finance, and writing about finance, I firmly consider Purchase This, Not That (BTNT) shall be probably the greatest private finance books on the market. It’s the e book I’ve at all times wished to write down to assist readers in all places stay higher lives on their phrases.
In the course of 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 just too essential to be left as much as pontification. Because of this, the whole lot I’ve written within the e book is predicated on firsthand expertise. This manner, I can share with you the nice and the dangerous that can assist you make higher choices. 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 way of 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 under 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 actually matter to you. In any case, cash is simply 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 economic independence, the place your passive funding earnings covers your residing bills, the world opens up.
The last word aim is to maneuver cash into the background so you may cease obsessing over it and begin specializing in doing issues that matter.
I present you the way within the first half of my e book. With actionable recommendation beneath a logical framework, I enable you transfer ahead with confidence.
Fixing Dilemmas We Could One Day Encounter
Within the second half of my e book, I speak about a lot of life’s dilemmas and how one can method them utilizing my 70/30 decision-making framework.
Should you consider there’s a 70% chance or larger you’ll make the right resolution, go for it! On the identical time, have the attention of understanding chances are you’ll get issues improper 30% of the time. Except the end result is dying or monetary destroy, it is possible for you to to be taught out of your errors, recuperate, and make higher decisions over time.
My e book encourages you to assume in possibilities, not absolutes. Should you assume in absolutes, you’ll probably miss out on lots of nice alternatives since you’ll really feel you want 100% certainty earlier than transferring ahead. Nevertheless, when you begin pondering in possibilities, a complete new world of potentialities opens up.
Listed below are some dilemmas the e book explores:
- Pay for personal faculty or public faculty
- Be a 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 put money into tax-advantaged versus taxable accounts
- Purchase a fixer or a totally transformed 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 maintain 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 matters.
Once more, cash is only one a part of the equation. It’s how we use our cash to make higher decisions that issues most. If any of those matters curiosity you, Purchase This, Not That will enable you decrease remorse and maximize satisfaction.
Why I Wrote Purchase This, Not That
I wasn’t planning on writing a traditionally published book. As a drained father of two younger youngsters who additionally publishes three-to-four instances per week on Monetary Samurai, I already had my arms full. Nevertheless, when Noah, an editor at Portfolio Penguin approached me on December 2, 2019, concerning the thought, 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 would as properly take advantage of a suboptimal state of affairs. Moreover, such a problem doesn’t come round too typically.
Again in 2008, one thing related occurred. The worldwide monetary disaster was beginning to deepen and I used to be dropping a boatload of cash. Nevertheless, 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 believe 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 understanding I did one thing productive to assist others.
Listed below are some extra the reason why I wrote my newest e book.
1) It Had To Be Written
One of many the reason why I began Monetary Samurai in 2009 is as a result of I seen there weren’t any private finance bloggers with finance backgrounds. Subsequently, I assumed it will be a good suggestion to fill this apparent gap. I considered cash somewhat in a different way and wished to convey my experience and views to the world.
After I was approached by Portfolio Penguin Random Home with the e book thought, I seen there additionally weren’t many nonfiction finance books that have been written by folks with finance backgrounds. Subsequently, I figured I would as properly fill the outlet once more!
After having the ability to escape company America in my mid-30s and stay the life I need for the previous 10 years, I simply needed to write a e book that might assist different folks probably do one thing related. 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. Subsequently, it was solely logical to write down Buy This, Not That to try to attain them.
Creating most influence in an reasonably priced method is essential. I may create $2,000+ e-courses like some people. Nevertheless, I felt packing in all the data 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 choices and be a extra empathetic individual alongside the best way. Purchase This, Not That contains many blindspots I’ve needed to probably assist others see issues extra clearly.
The world is in want of extra monetary schooling. A private finance course ought to be necessary in highschool or school, however it’s curiously not. I stay on this bubble the place I studied economics in school, obtained 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. Subsequently, my aim is to convey extra monetary schooling to those that search to develop their wealth in a risk-appropriate method. It’s our responsibility to share what we all know.
3) Slim The Rising Inequality Hole
Because the world monetary disaster in 2008-2009, the wealthy have gotten terribly wealthy in comparison with the center class. In the meantime, these within the top 0.1%, have blown previous the highest 1% as properly. I need to convey their secrets and techniques and methods of investing and pondering to the general public so as 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 saved questioning why not additionally write about extra fascinating and probably profitable matters? In any case, you may 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. With out a finance background, writing about the rest is far 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 doable. And if this occurs, your lifestyle will go up and the rising inequality hole will in the end slender.
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 laborious to slot in. I obtained 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 have been harsh, additionally they gave me large motivation to attempt tougher.
By highschool, I clearly realized the world isn’t honest and by no means shall be. Subsequently, as an alternative of complaining, I accepted the best way issues have been and centered on what I may management. I convey this fighter’s mindset to the e book to provide the motivation to push on by way of irrespective of who you’re or how troublesome your struggles.
We all know persons are biased in direction of individuals who look, assume, and speak like them. It’s why podcast interviewees, award-winners, bestsellers, and households who attend elite colleges are typically fairly homogenous.
Subsequently, I assumed it will be good to vary issues up somewhat and supply new views. Possibly there shall be extra love and understanding for Asian people in America in the event that they learn a very good e book by an Asian one who helps them. Maybe children who seldom see anyone who appear like them shall be impressed to write down their very own e book or do one thing out of the extraordinary.
Together with Folks Who Stay In Excessive Price Areas
As well as, a big share of each nation’s inhabitants lives in dearer city cities. Excessive value of residing areas presents some distinctive challenges which I deal with within the e book.
With how bifurcated America is, I’m hoping to create an understanding bridge between those that stay on the costly coasts and people who stay inland.
I’m satisfied most battle on this world is because of a lack of awareness of different folks and their private conditions. Let’s spend extra time attending to know one another.
5) Regular Navigation Via Unhealthy Instances
As somebody who has labored in finance since 1999, I’ve gone by way of the euphoria and despair of the primary Dotcom bubble. Then I went by way of the funding mania of 2007 and the devastation just a few years later.
After every collapse, I’ve realized how one can strengthen my funds in order that it doesn’t matter what occurs, I’ll probably be OK. I need to share what I’ve realized 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 finally come, which is if you’ll want monetary steerage probably the most.
It’s laborious to know your true threat tolerance and the way dangerous issues can get when you don’t undergo a protracted bear market your self. Though the March 2020 crash was violent, it was additionally fast to rebound.
Purchase This, Not That will enable you navigate by way of stormy waters in order that irrespective 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 Buy This, Not That: How To Spend Your Way To Wealth And Freedom. I really violated my writer’s advice of holding the phrase depend to 80,000 phrases. As an alternative, I wrote about 111,000 phrases so I may add as a lot worth as doable given nonfiction finance books are all costs about the identical.
Sure, it’s a massive e book that may take longer than typical to learn. However there are such a lot of essential topics that I consider you’ll really be left wanting for a e book two.
Purchase This, Not That is supposed to be learn and mentioned with mates and family members. You’ll have a good time debating my reasonings and making your individual circumstances. I actually consider dialogue and listening to the views of others is the easiest way to be taught and develop.
I plan to do some in-person occasions within the San Francisco Bay Space, Honolulu, and maybe NYC through the U.S. Open. Keep tuned!
Pre-order a hardcover copy of Purchase This, Not That by clicking one of many retailers under. 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 form with the small print of your pre-order buy.
To Your Monetary Freedom,
Sam
P.S. Should you’re involved in bulk ordering (>30) in 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 worth assured based mostly on no matter low cost they provide from now till launch.
I shall be doing video talks with workers at Google, Yelp, William & Mary, and a number of other different organizations by way of July. In case your group want to assist my e book, please shoot me an e-mail or depart a remark.
