Findependence Day is a remarkable book by Jonathan Chevreau. I just finished reading it while I was vacationing in Maui It’s an entertaining novel that goes through the life of a couple and their financial tribulations up to their retirement. While it is a novel, the topics are definitely all about finances from page to page.
The book is a short read but does an amazing job at highlighting the importance of a financial plan with regular reviews. In fact, the reviews are a must when life changes and the author brings that to life in the book on numerous occasion. Being in my mid thirties with two kids, I could very easily relate to the early life of the couple and it’s something that anyone starting in life could get a preview of. For those older or behind on your retirement plan, you can get see the type of strategies needed to have a plan and execute it.
What surprised me in the book was how Mr. Chevreau brought in the multiple income angles so subtly but ever so powerful. Any blogger will feel familiar with the ideas brought forward in the book I won’t spoil the book’s multiple income angle but it was very refreshing.
Here is what you will learn (or review) if you read the book:
- Debt is bad Especially credit card debt
- A financial plan or road map is critical to financial success
- Pay yourself first, Pay yourself first, Pay yourself first
- The benefits all all accounts available such as RRSP, RESP and TFSA
- Some basic tax benefits and understanding
- Reviewing your plan and adjusting regularly
- The basic investment vehicles such as mutual funds, ETFs, bonds and stocks
- What can real estate do for your retirement
- A basic overview of life insurance with the benefits and/or pitfalls of the available options
- Estate planning
- Reflecting yourself; are you a stock or a bond – you’ll need to read the book for more details
If you can read this book to understand financial planning on a life long level and read Andrew Hallam’s Millionaire Teacher about investing, you will have an amazing financial understanding to navigate your personal finance journey for the rest of your life. Your next step will be to put your learning in action by doing it yourself or with a financial advisor (fee-only hopefully)!
Don’t forget to enter the giveaway where you can win this book and a couple of others along with two Amazon gift certificates. Be on your way to financial education!
Readers: What’s your take on the book? Interested in reading it?