May 13, 2014

Book Review

Die Broke by Stephen Pollan and Mark Levine

This book is a different way to view finances and life. The authors describe the plan in four parts: Quit Today, Pay Cash, Don't Retire, and Die Broke.

This book is about 300 pages, separated into two parts. Part one is the Die Broke philosophy as described below. Part two is basic information about financial topics from Accountants to Wills.

Quit Today - the idea here is to quit trying to find meaning in your job, to stop making your job your life. Companies are no longer loyal to their employees, so when your current job no longer meets your needs in life, then move on.

Pay Cash - this is rather obvious, don't go into debt for stuff except for maybe a home. If you don't have the money for it then don't buy it.

Don't Retire - people are living longer and are not able to enjoy their retirement, either due to poor health or poor finances. The authors believe people should work in some capacity to not only maintain their financial stability, but also their physical and mental health as well.

Die Broke - the authors are not in favor of passing on an inheritance to relatives. Instead they recommend to give the money to them during your lifetime so everyone can enjoy the gift.

Overall, I enjoyed reading the authors take on this "radical, four-part financial plan." I have been following the basics of this "radical" plan long before I discovered this book. It seems to just make sense for the most part. I don't agree with everything the authors wrote about finances, but this makes for a great read and good plan to follow.

Up next is Fire Your Boss from the same authors.

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