A lot of this book focuses on how and where to invest savings for growth. For the millenial generation, with the almost total lack of job security in the “gig economy,” simply having a retirement account and not touching it for a layoff or medical bill is a big financial success! Still, even the smallest stock portfolio should be selected carefully, to minimize risk and increase long-term gains, so there’s a lot useful information here. Many of the principles explained here with $100,000 of capital could also work with $1000 saved. Gaining a small profit through a small investment is better than the money earning almost nothing in a savings account.
For me, the most useful part was on small businesses. For most of my time with my side business, my goal has been making enough money to even pay taxes on. About 20% of small businesses fail in their first year, so just having enough profits to have a second year seemed successful. This book explains how to keep more profits by arranging the company’s tax situation and write-offs very well. There’s also a very clear explanation of sole proprietorships, S Corps, LLCs, etc., and the differences and advantages. This section is informative and easy to read for small business owners, especially readers who know their own field very well, but aren’t experts in taxation or accounting.
Finally, the tone in Win The War For Money And Success is enthusiastic and not condescending. Readers are reminded that this is how to take care of themselves (and their children), and that making smart choices with whatever level of savings they have today help them gain stability and wealth in the long term.
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