The path to financial freedom. Bodo Schaefer.

A truly interesting book on trading and personal finance management. The author is a successful businessman and writer who achieved financial security by the age of 30, earning over one million dollars in seven years.

The first part of the book is entirely devoted to managing money wisely and assessing the character and financial status of a potential trader.

The second part examines investment options for existing capital, assessing the profitability and risks of various methods of generating both passive and active income.

The book contains numerous chapters, so I will only review the main points:

1. Introduction – setting goals and objectives, when a dream becomes a goal, why wealth is just a pipe dream for many, while others become millionaires. This section covers global issues; here you can find out why you haven't become rich yet.

2. Debt – what funds can be used for trading on the stock exchange, how to properly manage your debt obligations.

3. Saving or earning : does it make sense to spend time saving or is it better to direct all your efforts to earning?

4. Factors determining profit – what influences the amount of earnings when passively placing funds in deposits or forex investments . Calculating the planned profit taking into account the interest rate, investment duration, and capital amount.

5. Stocks – as one of the ways to generate income, why investing in stocks is more profitable than other investment options, the basic rules of stock trading.

6. Five criteria for a good capital investment – ​​this article discusses where it is most profitable to invest your money. Taking into account all existing parameters.

7. Financial protection and financial independence – a summary of the discussion in the previous chapters. Assessing expenses and income, calculating the amount of money required to achieve financial independence.

The book will be useful not only for traders, but also for anyone wishing to preserve and increase their wealth.

Buy The Path to Financial Freedom by Bodo Schaefer.