Friday, April 8, 2016

Friday Feature Book Review: The 100 Rules of Money by Richard Templar お金の百のルール リチャード・テンプラー

This great international best seller is focused on "how to have a millionaire mindset". Imagine if George Soros or Richard Branson gave you financial advice as a personal mentor. Would they know patterns or behaviours that could help teach you to grow wealthy? My guess is yes, most likely. 

The author Richard Templar, does a very splendid job of explaining his 100 rules for making more money and building personal wealth. It will help any person to be in the right mental mindset. It will help you see clear income opportunities, understand them, and finally benefit from them financially. It is indeed a process. It may be unsaid, but it is clearly there.  

The lessons vary in importance, but many really stand out. These 100 rules act as a wealth coach for anybody wanting to become more financially independent. Personal favorites include the ones that focus on how to control your emotions and spending habits. Wealth is not often helpful if not properly prepared. 

Wealth should be a friend not an enemy (rule 8) explains how unexpected large money decisions can be stressful without answers or action at the ready. Understanding the true relationship between money and happiness (rule 14) is not an easy one. Neither is the related wisdom on how money, if only is seen as a solution, can often become the problem (rule 11).

The most difficult lessons involve discipline. It is harder to manage yourself than to manage your money (rule 18). Knowing where you are and having a clear plan (rule 19 & 20) and deciding your risk appetite (rule 24) are not easy decisions. You have to work hard early in order to make enough wealth to not work hard later (rule 29). 

The most basic rule is spend less than you earn (rule 36). The many get rich quick schemes are also to be avoided (rule 60) while borrowing money from friends (rule 86) gives a lot of insight into how to deal with such situations. With children, allowing kids to know about poverty as a motivator (rule 95), does have a productive benefit. It is not really best to shelter them from it always.

No matter what your income level, business owner or new employee, these 100 rules of money are all worth reviewing. It all helps in trying to build any future career and wealth plan. All of these rules are reasonable and need to be answered by each person individually. This is important in order to build a solid foundation for any person's financial wealth plan, no matter what the starting size. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

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