Bodo Schaefer - the path to financial independence. The Path to Financial Freedom by Bodo Schaefer

The writer who created this masterpiece of modern business literature is always guided by one principle - as a person acquires wisdom, his life inevitably improves. Bodo Schaefer's book The Path to Financial Independence once again proves that the author cannot be happy alone, and every day he tries to tell about the basic principles of financial well-being as best as possible. more of people. The author has already managed to achieve significant success in terms of obtaining passive income. Many people think that it was these books that brought him fame and huge income, but Bodo Schaefer not only writes books - he is a successful businessman and already at the age of 30 began to live on the percentage of his investments.

Bodo Schaefer's book The Path to Financial Independence does not contain theoretical guesses or ideal strategies for making huge profits. She also doesn't talk about get-rich-quick schemes or how to get rich sitting on the couch. As the author himself writes, any success is a titanic work that requires discipline and constant improvement. At his seminars, Mr. Schaefer constantly notes that even if the reader memorizes the book or reads all the editions of the author, but does not apply these rules in life, then happiness in life will not increase.

Let's talk about the book "The Path to Financial Independence"

As the Russian editor of the book notes, this moment in the hands of the reader is a real revelation from a German millionaire who has achieved success through diligence, economy and innovative thinking. As we have noted, the book is not a summation of ideas or ideal ways to get rich. In fact, Bodo Schaefer's Path to Financial Independence download means acquiring a priceless treasure that will show you the way to unlocking your own inner potential. However, this edition also contains a lot of practical advice, fulfilling which many modern businessmen have already received what they dreamed of.

The author applies a special conceptual way of thinking, considering complex and "tedious" economic categories, applying his experience in the field of capital formation. The book is directly related to the philosophy of economics, but this does not mean that the publication of Bodo Schaefer's Path to Financial Independence will not be of interest to people without economic education. On the contrary, the book is written in a simple and understandable language, and this once again proves that everything ingenious is simple. These advantages make this publication unique - it is not for nothing that the book became a bestseller. It remains to be noted that this excellent creation of Bodo Schaefer is aimed at a reader with any education and income level. In fact, in order to become happy, you do not need a lot of money or the presence of rich relatives. It is enough to have a dream and perseverance in the process of climbing to the top of success! The book Path to Financial Independence by Bodo Schaefer can help anyone who is willing to go all the way from start to finish, applying the recommendations that are detailed in the publication.

money and dreams

Have you ever thought about what prevents people from having the income they actually dream of? From day to day, we only think about money - after all, they are the measure of success and prosperity. However, the author believes that money does not come to us by chance and in financial matters we need to think not only about ourselves, but also about other people. Money is a form of energy, and the more of this energy we use for good purposes, the more income we will receive. This is exactly what Bodo Schaefer's book The Path to Financial Independence is about - the more we send money to serve society and help our neighbor, the more financial energy we receive.

In no case should you exaggerate the value of money. They become important to us only at the moment when they are lacking. Financial problems make us constantly think about them. It is with this question that you need to deal with before you begin to improve your “monetary” health. There is also another very important thing that will become a "guiding star" on the path to success - a dream.

In Bodo Schaefer's The Path to Financial Independence book, a lot of attention is paid to the dream and setting goals. Very often we find ourselves enemies to ourselves and feel that life is unfair. However, simple planning of your time and consistency in the implementation of plans can work wonders! The author of the book has been dealing with such issues as money, happiness and success for more than 10 years. According to Bodo Schaefer, money helps to save vitality and he wants us to be more free and able to live independently.

Bodo Schaefer's book The Path to Financial Independence describes several ways to earn your first million:

Saving your income
Investing the saved money in the project
Income Boost
Percentage saved from each revenue increase achieved.

Each of these methods has its advantages and disadvantages, however, if you apply all these methods at once, then the achievement of financial well-being will not be long in coming. Very soon you will see that you have absolutely ceased to worry about the lack of money.

Bodo Schaefer's book The Path to Financial Independence will only unlock the potential of the reader if he applies these lessons to Everyday life. Even if you use only some of the methods, after a while you will feel how your financial “life” improves.

IN modern world The issue of financial independence worries almost every person. After all, for many, life is focused on work. And it is the work that brings financial resources and material benefits. Everything is good, but I want more! I would like not to wake up at six in the morning, not to go to the office in a stuffy subway, not to listen to the boss's reproaches. And in the working team itself, there is also a far from friendly atmosphere. I want to avoid all these problems. I want independence! And independence lies in only one thing. In financial abundance! So what do you need to do to become financially independent?

Study and education as the basis of financial independence

Oddly enough, but the first step on the path to financial independence is study and education. Yes, the same school and institute. It is here that you acquire the knowledge and experience that will later help you to realize yourself not only as a good employee, but also as a sensible manager of your own enterprise. In addition, at this stage, friendships, which can later develop into business cooperation and partnership. After all, there is no better partner than a bosom friend. Of course, friendship must be real, then the partnership will be transparent.

Self-development

In parallel with the program of the educational institution, it is necessary to receive as much information as possible about those industries that are of interest to you. Always try to be interested in topics that can be put into practice and benefit from it. If we take it globally, then a passion for economics is much more preferable than a passion for history.

Choice of direction

Many people, up to a respectable age, cannot decide on a profession. Such individuals can change faculty three times and still be dissatisfied with their work after receiving a diploma. And let it be unlucky with the profession, but to ensure financial independence, you need to choose the right direction. Since the ultimate goal of our activity is finance, it means that the direction of development should be related to business and the economy.

We do not waste time and work

Many alumni educational institutions wipe their pants at home in anticipation of a highly paid job. It is not recommended to do this, because it is better to gain experience and save money. Ironically, financial independence is based on hard work in the early stages of a career.

We limit expenses

If the ultimate goal is complete financial independence, then you should limit your expenses as much as possible. Everyone will determine for himself those things that you can refuse. After all, it is absolutely not necessary to go to a bar with colleagues after a working day, or to change several smartphones in a year. It is important not to become part of a consumer society.

We save money

Experienced economists argue that a value of 10% of total income is a reasonable value here. But given the previous point in our plan, we can afford to raise this value significantly. And this fact will have a great impact on our financial well-being in the long run. Even if there is no specific purpose for which the money is being accumulated. Let these funds lie as an airbag of financial security for the time being. But when a specific plan matures, regarding what you can do in order to increase financial resources, the money will already be available.

Investments and business

Everyone knows the proverb that money should make money. And this statement is more than true. So how do you make money work? This is a very difficult question. There is a huge variety of answers to it, then none of them can be one hundred percent suitable for you. Everyone finds himself in some kind of business. And the sooner you decide on a niche in which you are able to increase money, the sooner you will gain financial independence. The most banal way to increase money is a bank deposit. Even if it only covers inflation, the money is saved and brings a small profit. It's much better than if they just lay under the pillow.

You can't put all your eggs in one basket

This is her one term from economics. This rule indicates that you must have several lines of business. Consequently, all funds are also in different sectors. Thus, you are always insured against a complete collapse. Even if one of your businesses turns out to be unprofitable, other businesses will smooth the overall picture. In addition, in this way you can test different niches and choose the most suitable direction for yourself.

Passivity of income

All people striving for financial independence come to the idea that income should be passive. It is this form of income that is the quintessence of the concept of independence. After all, your income will be provided regardless of your participation.

Enjoying the results

That is what we should strive for. In the case of a business, it is necessary to assemble a reliable team and select a deputy to whom you can transfer cases without fear. And enjoy the fruits of your previous work yourself.

Thus, we can conclude that financial independence is far from being an easy goal. But quite achievable. And you need to start with small things, gradually moving on to more and more significant components of your success.

Bodo SCHEFER

"The Path to Financial Independence"

First million in 7 years

The main thing is wisdom: get wisdom, and with all your possessions get understanding. Appreciate her highly, and she will exalt you; she will glorify you if you cling to her; He will put a beautiful wreath on your head, he will bring you a magnificent crown.

From the Book of PARABLES OF SOLOMON (chapter IV, 7-9)

From the editor of the Russian edition

The book you are holding in your hands is a revelation. Revelation from Bodo Schaefer, a German millionaire who came to lasting prosperity in the shortest way - through savings and extraordinary thinking. Let's clarify: he started, as they say, from scratch.

"The Path to Financial Independence" is not just a summation of experience, practical advice, etc. etc., thanks to which one can gain well-being.

A person cannot be happy alone. Only by making others happy, he himself will be happy. Bodo Schaefer argues that money in good hands makes not only its owner happy, but society as a whole. This is perhaps the main idea of the book.

The conceptual way of thinking used by the author to consider rather complex and dry economic categories gives us reason to believe that this book has a direct bearing on the philosophy of economics. For all that, "The Path to Financial Independence" is written in a common language, with humor and not without brilliance. All this makes this book a fascinating bestseller in the field of economic knowledge. It only remains for us to add that the book by Bodo Schaefer, a writer and businessman, is aimed at the mass reader, so that, having reconsidered his attitude to money, he, this reader, can build his happy future, not postponing the implementation of intentions and plans for an uncertain tomorrow. You should start today - right after you open the first page.

And one more thing: for the reader who has mastered this work and has not begun the path to financial independence, there will be nothing left that would justify his inaction.

Gratitude

Outstanding achievements are always the result of great collaborations various people.

I had the good fortune to learn from people who are truly unique. Unfortunately, it is not possible for me to list them here, but my gratitude goes out to all together. However, some I would like to name by name, as they have had the greatest influence on me. This priest, Dr. Winfried Noak, Peter Hevelman, my first mentor, who taught me the basics of success and taught me the joys of trusting relationships, the consummate conversationalist Shamie Dillon, and billionaire Senator Daniel S. Peña, who introduced me to the world of big money.

This book is the result of my contacts with them and the constructive help of the editors of the Campus publishing house: Ms. Querfurt and Mr. Schickerling. It was not easy with them, but it is known that this is exactly what is required for personal development.

I want to express my special gratitude to the participants of my seminars, who gave me a significant positive impetus. I would like to highlight our commercial director, Mr. Jeroen Vetter, with his constant participation and unparalleled skill, who made our seminars accessible to an increasing number of people.

Last but not least, my thanks go to my partner Cecile, who has energized me for my ventures and supported my dreams. Thanks to her, I experienced a lot sharper, deeper and more conscious.

Foreword

Do you know what prevents most people from living the life they dream of? Money and more money! Money is a symbol of a certain attitude to life, a measure life success. But money does not come to us by accident. We can say that in money matters we are talking about some form of energy: the more this energy we direct to really important goals, the more money we will receive. Really successful people have the ability to accumulate large amounts of money. Some only save and multiply them for themselves, others use them to serve society and their neighbor. But they all know how to make money work.

We must not exaggerate the importance of money. But do you know when money becomes especially important? When they are not enough. Whoever has big money problems has to think a lot about them. We must deal with this issue thoroughly enough to resolve it once and for all. And from that moment on, money will become your support in all spheres of life.

Everyone has dreams. We have a certain idea of how we want to live and what is due to us in life. We believe in our hearts that we can fulfill some special purpose that will improve this world. But all too often I see how the daily routine gradually stifles such dreams. Many people forget that they also have a place under the sun. They simply do not believe in themselves and that they can become independent.

We are often victims of ourselves. We make compromises - and before we realize our mistake, life has pretty much passed us by. And many people often shift the responsibility for the fact that they do not live the way they would like to, on financial circumstances.

For more than ten years I have been dealing with issues such as money, success, happiness. I have learned to see money differently: money can save us from running out of vitality, it helps us to be the best we can be.

I am at your disposal with my book - in the role of your private mentor. I would like to convey what I have learned and experienced myself. I would like to teach you how to create some kind of magic machine to receive money. Owning money means, first of all, being able to lead a much freer and more independent lifestyle. When I realized this, a deep need arose in me to pass on my knowledge to others. I made a promise to myself to support everyone I come into contact with on their journey to financial independence. Just as you can learn to fly, dive, or program, you can learn to create wealth. And there are a few important standard tricks to help you with this.

The book you are holding in your hands is a revelation. Revelation from Bodo Schaefer,

a German millionaire who came to lasting prosperity in the shortest way - through savings and extraordinary thinking. Let's clarify: he started, as they say, from scratch.

The Path to Financial Independence is not just a summation of experience, practical advice, etc., thanks to which you can find well-being.

The conceptual way of thinking used by the author to consider quite

complex and dry economic categories, gives us reason to believe that this book is directly related to the philosophy of economics. For all that, "The Path to Financial Independence" is written in a common language, with humor and not without brilliance. All this makes this book a fascinating bestseller in the field of economic knowledge.

It only remains for us to add that the book by Bodo Schaefer, a writer and businessman, is aimed at the mass reader, so that, having reconsidered his attitude to money, he, this reader, can build his happy future, not postponing the implementation of intentions and plans for an uncertain tomorrow.

You should start today - right after you open the first page.

And one more thing: for the reader who has mastered this work and has not begun the path to financial

independence, there will be nothing left to justify his inaction. Do you know what prevents most people from living the life they dream of? Money and more money! Money is a symbol of a certain attitude to life, a measure of success in life. But money does not come to us by accident. We can say that in money matters we are talking about some form of energy: the more this energy we direct to really important goals, the more money we will receive. Really successful people have the ability to accumulate large amounts of money. Some only save and multiply them for themselves, others use them to serve society and their neighbor. But they all know how to make money work.

For more than ten years I have been dealing with issues such as money, success, happiness. I learned to see money with different eyes:

Money can save us from completely exhausting our vital forces, they

help us to be the best we can be.

I am at your disposal with my book - in the role of your private mentor. I would like to convey what I have learned and experienced myself. I would like to teach you how to create some kind of magic machine to receive money. Owning money means, first of all, being able to lead a much freer and more independent lifestyle. When I realized this, a deep need arose in me to pass on my knowledge to others. I made a promise to myself to support everyone I come into contact with on their journey to financial independence. So same, just like you can learn to fly, dive or program, you can learn to create wealth. And there are a few important standard tricks to help you with this.

There are several opportunities to earn the first million. These possibilities describe the four strategies presented in the book:

1. You save a certain percentage of your income.

2. You invest the money you save.

3. You increase your income.

4. You save a certain percentage of each revenue increase achieved.

If you follow these tips, then, depending on your current financial situation, in fifteen to twenty years you will become the owner of property in one or two million. And it's not a miracle at all! If you want to make your first million faster (for example, in seven years), then you must apply all the strategies described in this book. And the more you apply them, the sooner you will reach your goal.

How can you become wealthy in seven years? You already foresee that it is not only about the amount of X that you want to own, but also about the person that you will become by that time.

It will not always be easy for you to move towards financial independence. However, it is much harder to live being financially dependent. If you follow the directions in this book, you will surely reach your goal. I have helped many thousands of people who have attended my seminars along the way. I see again and again how this knowledge transforms people.

But I ask you not to think that the mere possession of this book will allow you to become

wealthy. It is also true that even studying it does not promise you wealth. You must not only work with this book, but also make it a part of you. Only this will lead to the release of your inner energy and help you achieve your goal.

Now let's start our journey together. First of all, assess your financial situation. On the following pages you will find instructions on how to carry out such an analysis. Start reading the book only after you have established exactly what you have.

I sincerely hope that this book will not only help you become rich, but will touch you in the most profound way. I don't know you personally. However, I know that if you hold this book in your hands, then you must be completely special person. A person who is not ready to be satisfied with what circumstances offer him, who wants to write the story of his life himself. Such people create their future as an artist creates a work of art, and I wish with all my heart that my book would contribute to the creation of your masterpiece.

Sincerely yours, Bodo Schaefer.

DOWNLOAD

While looking for a book on finance that would help chart the path to financial independence, I accidentally found a book of the same name by Bodo Schaefer. The author tells how to get a million in seven years. The currency doesn't matter here. I described the article in the form of a summary with my thoughts. In order to understand how to come to a million, read the book yourself.

She has been for many years. I read the 1998 version. This is a reissue.

Description

Book title: The Path to Financial Independence. First million in seven years.

Release year: 1998

Publisher: Buchgemeinschaft Donauland Kremayer & Scheriau (book published in Germany)

The book contains some theory and psychological aspects about why most people cannot secure their well-being and financial independence throughout and towards the end of their lives. In the second, quite specific practical advice is given.

Personal impressions

I am glad that this book came across to me one of the first. In it, I found scattered advice from articles about finance that came across on the Internet.

And the most important thing. It's never too late to start. It's just that the younger you are, the more advantages you have over those who are older.

I also realized that children are not taught how to handle money at all. E is one of the aspects why many have problems with them.

Briefly about the main

One of the main thoughts:

Either you plan your life yourself, or others do it for you.

Some save without a plan, just save. This is definitely good. But what is the purpose? Until what moment will you save, what tools to use, what to do in case of force majeure. All this needs to be calculated and accumulated purposefully.

Having a high income doesn't make you rich, it's the money you save that makes you rich. Therefore, it is important to start saving some of your income and invest as early as possible.

Schaefer advises building a career on a hobby, so as not to be a money machine for someone all your life. Here I agree with the author in part. Everyone has different life situations. If a person is able to get a job high paying job, then you must do so. Even if it is not closely related to the hobby. And in parallel, you can already do what you love, which in the future will generate income.

Responsibility

Who do you accuse the one you give power. Schaefer means that you need to be able to admit guilt and take responsibility for your affairs and condition. Don't blame others for your failures.

The zone of control is all those things for which you are responsible and can influence them. If you want to expand it, you need:

Leave your comfort zone.
There is a saying that all motivational books are based on the fact that a Wall Street businessman encourages Vasya from Uryupinsk to get out of his comfort zone.
Citizens of course exaggerate. Everyone has their own way out of their comfort zone. It means that you need to do unusual things and learn new things. When everything starts to suit you and you feel good, you are in your comfort zone. But, you also need to understand that being there in itself does not carry anything terrible. If there is no need for change, you can live as you like.
The problem is like a growth zone. This is an opportunity to learn something new. At the beginning of the solution, the question should be asked - "How can I change the situation so that the problem does not arise again?"
Correct questions: Instead of why (this happened), you need to ask the question with - how (I will deal with this) ?. How- makes you look for a solution. Why- an apology for inaction. It is also worth focusing on What I can?, What do I know? What options do I have? When choosing a solution, you need to ask a question -" Can I?"
Frequency Universe. The author introduces such a concept and explains it as an area in which all those things that are important to you are located. If something is important to you, then you inevitably begin to think about how to expand the zone of control so that you have the opportunity to regulate as many issues as possible in your universe at your own discretion.

Success

In any book (including this one), article or video on success, you will be advised to surround yourself with people who are more successful than you. Bodo Schaefer gives a useful hint. If you meet an interesting person, ask her about the books she liked. It would be nice to know what books she (the person) can recommend and why?

Success Journal. Found in various books and articles. It is usually advised to record significant achievements in it. The author also encourages, at your discretion, to write down your successes in it every day or week, when something was successful and you were praised. This is useful because the brain tends to remember only the bad. And then sometimes return to it and view the results. For me, it's kind of redundant.

Journal of Ideas. This journal is more than helpful. And I got there myself. I write down all the ideas that come to mind.

success is the result of work

Risk is a noble cause. There are many sayings about this. And indeed, if you do not risk anything, then a large number of opportunities will pass by. By avoiding risk, we deprive ourselves of growth opportunities.

The author in this chapter talks about the importance of attending seminars, as an opportunity for growth - new knowledge and acquaintances. I am now skeptical of them. We already have a lot of seminars for fabulous money, on which best case they tell everything that is in the books, and at worst - just water. Even Tony Robbins takes money to tell people the obvious.

Reflecting on luck, the author gives examples that many things seem like luck to people. Others are just lucky. But, as a rule, success is preceded by many years of training and hard preparation. Telling a person who worked tirelessly and trained hard that you just got lucky is tantamount to an insult.

Changes

Real change happens at five levels:

Actions (i.e. you just have to start acting towards change)
Technologies (If actions are not enough, you need to apply technologies / tools to achieve)
Personal development (Reading, learning, including with a mentor, etc.)
World view
Self-image

The last two points are self-explanatory.

If you are not afraid of a new step, then this means that the step itself is insignificant for you.

In fact, all people are afraid, worried and worried when major changes occur. This is fine.

It's easy to save 10% of your monthly income, but it's even easier not to.

If possible, you should always save more than 10%, and invest most of it. It follows from this that I have come across in books for the first time, but I can’t define it in any way. It is necessary to decide how much capital is needed and for how long. And determine exactly what you want. Set goals. Despite the apparent simplicity, it seems that you can throw a list in 15 minutes, in reality everything is not so easy. Especially when you start to calculate how much money you need to save and where to get it.

Goals

It is a question of visual labels for the subconscious. I am skeptical about them. It seems to me that they "work" by constantly reminding them of their goals ... or maybe that's the point? In any case, I don't use them.

The goal must be made your necessity. Like food. You can check whether the goal is desirable (and not imposed from the outside) by writing down and describing it in detail. Then visualize everything in detail, including the changes that will come into your life.

It is necessary to determine the goals to which you are going

If after such visualizations you feel good in your soul, then the goal is right. D. Carnegie has such a “thing”. Visualization creates opportunities. I’m not sure if this is the case, but surprisingly, when you strive for something around you, you begin to notice options that turn up.

The chapter on goals emphasizes that many rich people have had mentors. Mentors. It is important. You need to find your mentor in the area you want to develop. If we talk about money, the author advises to find your own. It should be much more successful. Have 10 times more money than you.

A mentor promotes the disclosure of talent and saves you from wasting time. He directs your efforts to more lofty goals, which you would not decide on your own. I analyzed this topic. Books can be an excellent substitute for a mentor. But a mentor can still give invaluable real experience and at the right time say what you are doing wrong.

Speaking about development, the author first of all advises to develop your strengths and find a way to work around the weaknesses/shortcomings. There is a lot of controversy here. You can hear from some speakers and authors that weak points still need to be tightened.

As with various books/articles about finding a purpose, it invites you to reflect on your passion. If you had a year of Shabadda - a year of doing nothing, despite the fact that there would be no need for money, what would you do?

Never take advice from a person who is not who you would like to be.

It should not be taken literally. This applies to some serious, especially financial decisions. When buying an apartment, would you listen to the advice of a person who does not and never had his own home? And what about the car? Job changes, investments, courting a girl and so on?

"The observer creates his own reality" What you think about is what you get.

It is definitely advised to clearly state the plans for what you want to have in 7 years. What property, friends, work, family. And the same for 3 years. Based on this, you see what you are focusing on under the influence of your faith. Therefore, your world will be exactly the way you imagine it to be.

Focus on achieving your long term goal. Ask yourself everything that you think you say and do contributes to this?
Never speak it doesn't matter now. Every ruble counts.
List all expenses. Plan your budget carefully.
Whenever you spend, ask yourself, do you really need this item?
Look for new sources of income.
Achieve well-being regardless of the opinions of others.
Discipline is the force that shapes our potential to increase income.
You determine your own value in the labor market. If you get a certain amount, then you are worth that much.
At work, for a salary increase, you need to tell why you deserve a raise. What benefits have you brought to the company and can you bring. Identify strengths and you can talk about it with the boss.
Be interested not in rights, but in duties.
Give more than what is expected of you. Even if the company does not want to reward you, you will gain experience.
Nothing is insignificant. Whatever you do, give 110%.
Take responsibility for things that are not your responsibility.
You need to continue to study after graduation - everywhere they write and talk about it.
Substitute for problems voluntarily, if something needs a solution, you need to volunteer to solve the problem.
If you do what everyone does, then you will have everything that everyone has.
Once the job is done, it's perfectly normal to demand money for it.
As income rises, expenses always rise. Don't confuse what you need with what you want.
Invest in stocks.

Stock

The chapter describes the importance of investing in this tool. Below is a summary of the author's advice:

Don't buy when everyone is buying. It is necessary to wait and examine the state of the firm. Buffett talked about it.
Bad and Good times exchange on the stock exchange. It does not happen that long periods are only growth or only fall. The thing is that if you bought and after half a year there is a drawdown, this does not mean that it will go down to zero. Only if the company has not done something extraordinary and everyone is selling in a hurry. All companies have drawdowns and ups, the price will definitely return in the future.
Big profits can be achieved if you are willing to lend money to the exchange from 2 to 5 years. For investments, this is a short term.
Buy shares of at least five, maximum ten firms. different industries and different countries— diversification is our everything.
You can only talk about profit or loss when you have sold shares.
Record in the journal the reasons for buying and selling, as well as the target rate.
Profit comes when the shares are sold but there are shares with dividends. This is additional income.
Crash is good. Can be bought at a low price.
Don't listen to the crowd. Don't do what everyone does.
Choose stocks rationally. See if the company has prospects and what happened before with the course. Build a forecast.
The first repurchase can only occur if the share price has fallen below 30% of the original purchase price. There must be at least 6 months between the first and second purchases. The third rebuy according to the same rules.

Helpful information: 72 / inflation rate = the time when the purchasing power of your money will be halved. If we substitute the rate of return instead of the inflation rate, then at the output you will get a period when investments double.

At the end, there are many motivating tips that can be found in other books and articles.

How to find a mentor

Back to the mentor/mentor. Write down the reasons why you need a mentor (you need to already have some results before you go to him, you need to demonstrate something).

Find something you can help your mentor with. Show endurance. Appreciate the mentor's time, his time is more valuable. Think carefully about what you want to ask. Give the mentor feedback on how their advice is working and describe the current state of affairs.

Conclusion

The book is very useful, especially if you are just starting a dive into finance. I advise you to read or advise if they ask for such literature. I will use this article as notes to have on hand and re-read.