Review: The Balance

The BalanceThe Balance: An Old Guy Offers Some Random Thoughts On Money Kindle Edition
by David Penna (Author)

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Want a simple financial strategy bereft of any need to understand complex stock charts and graphs? His background as a mining geologist has undoubtedly influenced David as he has delineated a precise and measured approach to a secure financial future. You’ll enjoy his straightforward approach to making simply what can be a complex subject.

Hear the MessageBefore he lays out his plan for a successful retirement, David explains that not everyone will hear the message. He goes on to explain why this is true but goes on to provide his useful information.

“The Balance” leads us down a fairly smooth path to understanding our financial planning needs, and removes the fear factor from preparing for a successful retirement.

David has divided his simple financial strategy into small, easily digested bites that he calls mumbles. He mumbles about wants versus needs, good debt versus bad debt, following the herd versus being a lone wolf, taxes, stocks, bonds, funds, shares, trading, and the market, the ultimate side hustle, the “golden rule” of investing, dividends, why investing need not be complicated, family matters, how to decide where to retire, and much, much more.

David did not start planning his retirement until he was 45, but was still able to retire comfortably when he was 60. Because he had only a relatively few years to accumulate his retirement fund, he had to maximize his returns. You can follow his plan and create a simple financial strategy to fund your retirement. If you’re wondering how to get the money for investing in your retirement, read my article Your Seven Steps to Financial Security

Many people retire to a six-six plan, but I found David’s Five-Five-Two plan for retirement quite intriguing. I’m convinced that it is a great plan for anyone who lives where winters can be lengthy.

Although we started at different places and travelled much different roads for many years, we both eventually came to the realization that a successful retirement could be achieved while enjoying a satisfying life along the way. I would recommend this book as a priority read for anyone between puberty and the grave.

I see that David has a second book, and I’ll be purchasing it when I have finished this review.

As always, I am not a qualified financial advisor. I just relate financial management to my own experience which may not resemble yours at all. Advice is frequently worth exactly what you paid for it. Most of mine came from expensive experiences.

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