Book Review: Wealth Management 2.0
Pretty much every week I receive requests to review books (both paper and digital). I rarely do so, however, because either the topic is not relevant to our readers, or because the quality is not that great. A couple of weeks ago Andrei Polgar (owner of DomaningTips.com and other online businesses) got in touch, saying that he was about to launch a book titled Wealth Management 2.0: Financial Education for Internet Professionals. Interesting and very relevant topic, so I decided to take a look.
Boy am I glad I did! The book is fantastic, and I got hooked right in the foreword, written by another Internet entrepreneur called Eric Borgos. His story of Internet riches is quite interesting, so don’t skip it!
As I mentioned above, the book is about financial management for Internet professionals and entrepreneurs. If own some blogs or websites, if you freelance as a writer or designer online, or if you have an online business, this book is for you. It will guide you about the best ways to invest your money, cause leaving it sitting in the bank is the worst thing you could do (actually the worst thing would be to make bad investments that will make you lose money, but that is covered in the book too!).
Lately I am reading a lot and trying to learn more about investing, and I believe that everyone should do the same. Making a lot of money is one way to get rich or achieve financial freedom, but making average money and investing really well is another way! If you combine both (earning a lot and investing well) you will reach complete financial freedom very fast!
The problem is that investing your money efficiently is not that easy. On chapter 2 you’ll find this apt quote by Robert Arnott:
“In investing, what is comfortable is rarely profitable.”
Back to the book. The first 3 chapters are more or less an introduction, explaining what the book is about, what it is not about and so on. On chapter 4 the real deal begins. Chapter 4 itself is about understanind why and how most people waste away the money they make.
Chapter 5 is about wealth management. Andrei breaks it down into 11 virtues. They are:
Chapter 6 is about understand the economy, and being able to see what is really happening and what the media says it is happening. In this chapter you will also understand what is “fear mongering,” and how it can affect your investment decisions.
Chapter 7 is where you’ll finally think about where and how to invet your hard-earned money. Andrei discusses how to invest in a diversified portfolio, the differences between starting a business and being a passive investor, real estate investing, stocks, bonds and so on.
Keep in mind that this is a very brief list of the topics discussed in the book. It has 457 pages, meaning that Andrei goes into a lot of detail in each section, and the explanations are very clear and straight to the point. As I told you, I am reading a lot about investing and financial management lately, and this is one of the best books I came across lately.
Bottom line: A must read in my opinion, especially if you are an Internet professional. The book is being launched today, and Andrei is running a launch promotion, selling it for just $2.99. Yes, that is 2 dollars and 99 cents. Here’s the Amazon link. Go get it!
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