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If you are searching for
information and "guru" talk on how to save and invest
your money there are a plethora of resources to choose from.
Look on the shelves of any bookstore or library and you will
find hundreds of books willing to tell you "what" to
do with your money. The problem for most of us investment
neophytes is that so many of these books have been written by
people who presume the reader already has a few bushel baskets
of money lying around to invest. Granted, there are a number of
books that show us how to get out of debt and put away money in
a specific and somewhat scientific matter. In actuality, telling
someone what to do doesn't usually get the job done.
So what about those of us that
fit into this category--the people who are not at the point
where they have substantial amounts of money to plant and grow?
Or, those who can't get motivated by a how-to book that tells
you if you invest $2,000 at age 20, you will have $300,000 when
you retire? How do we get to become one of the people that
investment brokers chase after? Put quite simply, its not
much of a problem finding information on "what" to do
in financial planning, the real secret is figuring out
"how" to do it.
While the "what" and
the "how" may sound synonymous, there is a major
difference between the two. And, once you start perusing the
pages of Values
Based Financial Planning by Bill Bachrach you begin to
discover just how much of a difference there really is
between the "what" and the "how".
This is not another
run-of-the-mill self help book on how to make your financial
life better. Bachrach has taken a solid business approach to
financial planning and developed his program to be similar to a
business plan. In other words, one philosophy doesn't fit every
person. Before you can achieve better financial success, you
first have to determine what your priorities are and what will
motivate you.
As I was reading Values Based
Financial Planning some of my first thoughts were, "I don't
think a lot of financial planners and investment people are
going to be happy with this book. It gives too much solid
information to the individual. It makes them wiser in dealing
with their money. It takes the control away from the "money
handlers" and puts it in the "money owners." To
get an idea of Bachrach's philosophy on financial planning you
don't have to look any farther than the first paragraph of this
book:
"In the grand scheme of
things, money's not that important. It's important only to the
extent that it allows you to enjoy what's important to
you."
Translated into "simple
speak," you don't have to play the game for all the wealth
you can build. The winners are those that have been able to
achieve sufficient finances to live the lifestyle they want. If
that means traveling the world on your personal yacht
that's
fine. But, if it means retiring to a small plot of land and one
room log cabin in Montana
well, that's O.K. too!
Once you have your head on straight about financial planning
from your value position and not what other people think, you're
ready to start some real planning. And that's where Values
Based Financial Planning gets into the nuts-and-bolts side
of building a better financial mouse trap. Topics like:
- Setting meaningful goals
- Getting your current
financial house in order
- How to manage you money to
get the most out of it
- How to choose the right
people (professionals) to guide you and who to stay away
from
While Values
Based Financial Planning offers a lot of specifics on things
that will help you reach the financial goals you want to
achieve, this "how" book is more geared towards
helping you from the inside out. It is a no nonsense, real world
approach to strengthening your financial well being.
Will Bachrach's plan work for everyone? Who knows until everyone
has read it and put it to the test. From this reader's point of
view, this book is one of the best I've seen to help the masses
have a street savvy, plain English understanding of the
financial planning world. A few hours by the fireside with this
book offers you nothing to loose and a great deal to gain.
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