While listening to the radio, I heard an advertisement for a free finance book when I called a number. So I called, and, as promised, the book was indeed free. I did not have to give any credit card or bank information to receive the book. Now, onto the contents. The book starts out discussing financial independence and how risky the stock market is. There are historical charts about how the stock market crashed in the past, which is not untrue. In order to build wealth without risking money in the stock market, the authors recommend annuities and life insurance. While the book was interesting, I have to say it wasn't the easiest to follow. The acronym IUL was used multiple times and only defined once or twice. After reading the book, I am still not sure how annuities and life insurance work. At the end of the day, money has to come from somewhere. I got the impression that annuities and life insurance is just a really fancy piggy bank. It holds money that will be paid later. Since the IULs are based off of index funds, I may consider researching more into just index funds on my own. Annuities and life insurances are not without fees, which at least the authors are honest about. I don't think this is a terrible book, I just don't think it is the best for finance either. Making wealth involves no shortcuts or easy hacks. People need to work hard, save, mind their business, and take risks. There is no zero risk high return investment.
No comments:
Post a Comment