The Barefoot Investor – Book Review
The Barefoot Investor by Scott Pape is a great recommended read. Scott has some great money tips that are worth implementing. Simple ones like, organising your banking, reducing debt, getting a better rate on your loans and insurances and generally setting up good habits.
I don’t know Scott Pape, and this is not a plug for his book. But, having been in the advice industry for 20 years in an independent business you tend to stay away from some of the ‘industry’ events where most planners are simply bank-salespeople.
Here is a quick summary:
- The key is about control. You need to take control over your money and your life. Otherwise, the next 5 years will look very similar (or worse) to the last 5 years.
- It’s not easy to take control of your money, it requires knowledge, and you need to know where to look and know that you can access the best independent information.
- You need to know how to avoid all the bad stuff and habits.
- Keep it simple.
- Take it one step at a time.
- There is no get rich quick scheme, and this book is not one of those “magic” books.
- Keep your costs low with all finances.
- Scott has a great day to day banking solution (most people don’t do this, it’s so simple and it works, see chapter 1).
- Scott believes in keeping your super and investments at a low cost – exactly what Scientiam provides. And on top of that, Scientiam gives you access to the knowledge to ensure you understand how investments work.
To take control of your finances and learn more about investments than most financial planners dare to discover – check out Scientiam for more readings and insights on how markets really work and how as an investor you can learn how to really invest and not gamble.
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It’s your future
Here’s to smart investing using science not guesswork.