Tuesday, February 19, 2008

The Barefoot Investor by Scott Pape

I’d read a few of Scott Pape’s Barefoot Investor columns and always found them enjoyable. I didn’t know he wrote books, and when I saw this one I snapped it up without a second thought.

I worried that the ‘book’ might turn out to be a collector of small articles (I have my second thoughts only after buying things), but this is not the case. There is a strong organised narrative that runs throughout. Whether Scott is talking about shares, property, or giving childhood anecdotes, everything is heading in the same directions.

This book lays out a clear path to financial independence that (get this) does not involve radical changes to your lifestyle. Just remember to spend what you have, and not what someone is prepared to lend you, and you’ll be fine, is the message. Luckily accompanying this message are some very practical steps on exactly how to achieve this.

If there’s on thing I would recommend about this book, it’s that it shows just how easy it all is. Set up a few systems for yourself with minimal effort, and you’ll soon have assets are growing themselves faster than you can top them up.

In this day and age of out of control consumerism, this book is a rare voice of good sense. You don’t have to live like a monk, just make sure you spend money that’s yours to spend.

If you’re aged 25-60 you’ll find a lot of helpful stuff in this book. If you’re aged 15-25 this book is indispensable. I wish I’d had advice like this 10 years ago.

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