Is it possible to become financially independent someday?
Getting passive about your income with compounding All through school, I was never a fan of math. I used to sit in the last row during classes and all the formulas went over my head. Often, I would fake being sick during the maths exam and not attend it at all!
But this led to financial difficulties in my life as I was not good with numbers. I realized that the formulas I learned at school might not help me after my exams, but I needed to know my numbers to succeed.
How this book helped me
I picked up You Can Compound by Vivek Mashrani out of sheer curiosity. The phrase 'make your money work for you"caught my attention and made me read the book. Is it possible to earn a passive income and earn while you sleep?
Yes, it is possible and the book helped me take my finances seriously. I loved how simple the book was and the flow of thought was similar to the questions which arose in my head. As I read the book, follow-up questions arose in my mind that were addressed in the next chapter or as a question one of the characters asked on the next page!
Actionable Solutions for Modern Youth It is never too late to begin investing - you are never too old to start. It was a fresh perspective to see the modern solutions offered in the book to handle present-day struggles.
Some solutions were made more palatable by giving them mnemonics such as M.A.C.H.I.N.E. This made it easy to grasp the subject and recollect it easily.
The author has raised simple yet valuable claims in the book. For example, there was a discussion on how investors must always stay ahead of trends and follow current practices. He supported this point by saying nobody reads an old magazine. It is called a newspaper for a reason!
Is it possible to become financially independent someday? Most millennials wish to gain financial freedom and stop depending on their parents' money. This book is perfect for them as it will help begin your journey immediately.
This is what I loved about the book - the timeliness and immediacy of it. It will legit make readers feel like all they have to do is shut the book and start right away. The solutions are so actionable that you can achieve the results by becoming active at once.
It was nice to see the warnings as well sprinkled throughout the novel. The author constantly reminds investors to invest in multiple companies and not dump all their income on one organization. If the company fails, so do you. But if you have invested in multiple sources, you can earn while you sleep!
Who should pick up this book? This book is honestly perfect for anyone interested in their finances. It is never too late to start compounding and of course, there is no fixed time to stop. However, I recommend this book to people like me who find it cumbersome to understand math and complex concepts.
The book makes it interesting to understand them by breaking down topics and simplifying terms. 'You Can Compound' is not riddled with formulas and unwanted terminologies to confuse beginners. It is simple and filled with visual representations to make it more palatable.
You Can Compound is now available on Amazon and even if you are already into an investment, check it out! It might be just the wake-up call for you to switch tracks at once!
- Team Booknerds