The path to financial freedom. Bodo Schaefer.

A really interesting book about trading and how to manage personal finances. The author of the publication is a successful businessman and writer who, by the age of 30, achieved financial well-being, having earned more than one million dollars in 7 years.

The first part of the book is entirely devoted to how to properly manage money and assessing the character and financial condition of an applicant for the position of a trader.

The second part examines options for investing existing capital, assessing the profitability and risk of various ways to obtain both passive and active income.

The book contains a lot of chapters, so I will focus on reviewing only the main points:

1. Introduction - setting goals and objectives, when a dream becomes a goal, why for many wealth is just a pipe dream, while others become millionaires.

This section deals with global issues, this is where you can find out why you haven’t become rich yet. 2. Debts – what funds can be used for trading on the stock exchange, how to properly manage your debt obligations.

3. Save or earn , does it make sense to spend time saving or is it better to focus all your energy on earning money?

4. Factors that determine profit - what affects the amount of earnings when passively placing funds on deposits or forex investments .

Calculation of planned profit taking into account the interest rate, duration of investment and amount of capital. 5. Shares - as one of the ways to generate income, why investing in shares is more profitable than other investment options, basic rules for trading shares.

6. Five criteria for a good investment - the article talks about where it is most profitable to invest your money.

Taking into account all existing parameters. 7. Financial protection and financial independence - summing up what was said in previous chapters.

Assessing expenses and income, calculating the required amount of money to ensure financial independence. The book will be useful not only for a trader, but also for any person who wants to preserve and increase their existing wealth.

Buy The Path to Financial Freedom. Bodo Schaefer.