The 5 Money Myths (Review)
Late last year I was presented with an amazing opportunity to receive, read, and review The 5 Money Myths: Time Tested Money Principles For A Retirement You Can Bank On. Although I have quite awhile (if it ever happens) to retire from my passions, I love reading anything business/finance related.
For 115 pages (excluding the brief introduction) this book takes you on a pretty enjoyable ride. Slow and steady pace, with a few pit stops on the side of the road to admire the beauty in learning lessons. You will realize that some statements and quotes give you a 2 for 1 deal. By all means take your time reading so you don’t miss the gems. There is no age limit to who can or should read this. (Okay maybe kids 13 years or younger don’t really need to know about money myths just yet.)
The 5 Money Myths that are covered in this book are...
1. You Will Get Around to Saving Later
2. We Should Weather the Ups and Downs of the Market
3. We Should Pay For Everything with Cash
4. Defer Taxes Every Chance You Get
5. Only the Wealthy Have the Tools
On top of the knowledge that I already knew, it never hurts to learn old and new lessons from a different perspective. Ed and Marc clearly have a sense of humor! Personally I appreciated the jokes that are spread out and in appropriate places. I didn’t feel as if I was reading each myth with a monotone voice. I would compare the readability to sitting in during an open forum or seminar. Although you can’t ask Marc or Ed direct questions at the end of a chapter and expect a response (per se), the way they structured each story kept me intrigued.
I will assume due to NDA contracts or (personal reasons) the characters in their stories didn’t want to have their real names used. However, That is what makes the book even better in my opinion! There is a case study that sounds oddly familiar with someone that I know (maybe Ed or Marc will let me know if I am right or not). Somewhere along the way, whether it is individually and/or as a couple, you can interchange your name(s) into the stories and comprehend at least a little bit of the scenario from your own experience(s).
My favorite line out of the book is in the back (so you have to read it to understand)...
"What we don't recognize is that most people who have obtained the sufficient resources to excel financially have them primarily BECAUSE they understood these principles first!"
Overall I truly think that this is an amazing book! I think it is so good of a book that you should win it (and a $100 Amazon gift card). Below you will find the ways to enter this giveaway and win your very own copy of the book.
This is a great way to start of 2016 and I definitely plan on doing more book reviews + giveaways like this for the entire year. Cross your fingers that you win a copy or the Amazon gift card so you can still buy a copy for free (kind of).