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The Last Safe Investment: Spending Now to Increase Your True Wealth Forever Hardcover – January 5, 2016
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“Franklin and Ellsberg have laid out the first viable life and investment plan that can truly work for everyone. Jam packed with insights and wisdom it normally takes decades to learn.”
--Richard Belluzzo, former president and COO of Microsoft
"This resource blows apart conventional wisdom on saving and investing. There's a new way to play that's more lucrative and meaningful--and way more fun!"
--Yanik Silver, author of Evolved Enterprise and founder of Maverick1000
About the Author
BRYAN FRANKLIN is an expert on rapid scaling in business and has helped seven companies grow to more than $1 billion in sales or valuation by coaching their CEOs on business strategy and leadership.
MICHAEL ELLSBERG is the author of The Education of Millionaires: Everything You Won’t Learn in College About How to Be Successful. He writes a blog on entrepreneurialism, career development, and education at Forbes.com. He lives in San Francisco.
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Passively relying on investments whose value you do not direct control cannot offer nearly the same potential as investing in your own skills, which can leverage your earning potential by multiples, possibly leaps and bounds above "common wisdom". Referring to the advice of counting on compound growth, delaying gratification, and living below your full potential so you can cash out a sizeable sum decades later, "The American Dream Requires You to Be Asleep", The rest of the book is the wake-up call.
First, how you value the dollars you spend will turn upside-down after measuring your Happiness Exchange Rate.
Then, through real-life examples and detailed action plans, you learn how to build and refine "Super Skills" in four broad areas: Interpersonal, Creative, Technical, and Physical.
The effects of applying your new super skill powers are also examined: in your "Adviser Equity", or the built-up value you have created for others, and "Tribe", the tightly-knit group of friends who share common values and vision.
The authors envision a radical shift in the economy where sharing and sustainable growth will become the norm.
I haven't been this excited about a book in years, and I really wanted to share my experience after blazing through it (this is my first book review). I hope you will find your dollars well-spent in this eye-opening book!
1. Improve your "Happiness Exchange Rate:" This is described on Page 25. Michael and Bryan write, "Unlike traditional cost cutting, the exercise of eliminating tens or even hundreds of thousands of dollars of unnecessary personal expenses through improving your Happiness Exchange Rate is generally pleasurable. It involves developing the *skill* of being happy (yes, it is a skill), as well as paying close attention to the factors that contribute to your most (and least) rewarding experiences."
2. Becoming a Social Leader: Step-by-steps in Chapter Eight about developing your own "tribe," or group of people who you really like and who like each other - a group of people who genuinely care about and respect each other. I'd never seen this so clearly broken down into steps like finding a great venue, hosting once a month, personally emailing each person to invite them, keeping a spreadsheet of these special people you love. So simple and straightforward! I can't wait to implement. :)
If you want new and different ways of thinking about money and relating to wealth in a sustainable and enjoyable way, I recommend spending the ~$15 and few hours on this book to see what you can learn.
who wants to sincerely know what to do to be safe and wealthy in the future.
I usually don't open investment and financial books, because I assume they aren't for little people like me, but this is book is truly for anyone who knows there's more to creating a bright, happy and secure financial future than letting someone you don't know and who doesn't care about you, invest your money in things you don't care about -- and for anyone who knows there's more to creating a bright, happy and secure financial future than simply finances!
I appreciated Frankin and Ellsber's fresh ideas, that were backed up with research and examples that could have been pulled from my real life, and actually could be applied to my real life as well. Into the conversation about wealth, they have infused heart and values, a combination I have yet to see.
First, this is a book designed to stimulate the creativity and genius of its reader - inspiring you to increase your capacity to provide value at exponential scales - to develop your talent for the new digital/exponential world we are currently entering. Most importantly, it shifts the readers focus from accumulating money to accumulating access to what money can (and can't) buy through building social networks that offer more than money ever could. It offers a powerful and ambitious mindset that catalyzes a new way of thinking about wealth.
Second, it provides a series of practical ideas and techniques to expand your wealth in the immediate term. Instead of depriving yourself of money now to provide money later, it shows you how to invest your time, energy, capital, and intelligence into building relationships that provide pleasure in the short term, access to resources in the near term, and channels of revenue in the long-term. Instead of shrinking your life and self in the present, you grow your tribe and self, becoming richer as you go.