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Just finished reading this book. Didn't think it would really interest me because i'm fairly well-informed about personal finance matters, but someone gave me the book, so i read it. I did find portions of it, particularly the first few chapters, interesting and helpful.
Bach begins by helping you identify your most important values, life goals and financial priorities. Sure, everyone thinks they can rattle these off if asked, but he makes you write it down. You fill out a chart he provides, and alongside each goal, you define it as either a short-, mid- or long-term goal, idenitfy challenges (not problems) you'll encounter toward reaching those goals, and specific measurable action steps you can take to reach the goal.
When you write down a goal, it's not enough to say "I want to be a millionnaire." You would instead say i want to have saved $1 million by age 55. Then, you backtrack and figure out how much you'n need to save (and where) each month to reach that goal. The less vague and more well-defined your goals, the better your chances of achieving them.
Aside from this, Bach providees good practical advice about investing in mutual funds, life insurance, etc. He discusses how to obtain the best priced and best valued health insurance, disability insurance, life insurance, the importance of a will.
A little on the basic side, but for someone just starting out, i imagine this would be very helpful.
Bach begins by helping you identify your most important values, life goals and financial priorities. Sure, everyone thinks they can rattle these off if asked, but he makes you write it down. You fill out a chart he provides, and alongside each goal, you define it as either a short-, mid- or long-term goal, idenitfy challenges (not problems) you'll encounter toward reaching those goals, and specific measurable action steps you can take to reach the goal.
When you write down a goal, it's not enough to say "I want to be a millionnaire." You would instead say i want to have saved $1 million by age 55. Then, you backtrack and figure out how much you'n need to save (and where) each month to reach that goal. The less vague and more well-defined your goals, the better your chances of achieving them.
Aside from this, Bach providees good practical advice about investing in mutual funds, life insurance, etc. He discusses how to obtain the best priced and best valued health insurance, disability insurance, life insurance, the importance of a will.
A little on the basic side, but for someone just starting out, i imagine this would be very helpful.
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