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The Barefoot Investor Book Review

The Barefoot Investor Book Review

The Barefoot Investor is one of the few personal finance books that targets the Australian population, as although the concepts on real estate investing, index funds and the like from classic personal finance books are great they can't always be applied here down under.

Below you'll find 5 takeaway points from Scott Pape's 'Barefoot Investor' book.

1. Don't Be A Groundhog!

Most people do the same thing day in, day out and then complain time and time again that nothing changes.

The groundhog wants the magic pill that'll get them shredded or financially independent.

The groundhog doesn't want to hear a thing about the 5am workout or the disciplined investing that's actually required to get what they want.

The groundhog looks the same today as they did five years ago... perhaps they've got some new clothes or they've taken out a big loan for a new car... but they're not really any closer to where they want to be.

2. The Financial Six Pack

When you're in shape physically people can tell, perhaps your shredded six pack is on display while you're running along the beach, maybe it's the bulging biceps and tapered 'V' back that're outlined by your shirt... regardless it's on display, it's common knowledge.

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The financial six pack cannot be put on display.

More often than not those that appear to have what society deems to be a 'financial six pack' i.e. a mansion of a house and a European luxury car or two in the driveway actually are financially unfit! They're struggling to make ends meet to maintain this lifestyle.

The REAL financial six pack belongs to the man that owns his car and property outright while having enough cash stashed away or invested to give his boss a big F.U. should he lose his job or decide to quit.

3. Automation Is Key (Not Budgeting!)

99% of personal finance and investing books preach a strict budget, the type of budget that has you entering every miniscule purchase you make into a complex spreadsheet riddled with formulas...
This is not the path to financial success.

Automation is the key to financial success.

Instead of having your paycheck land in your one single bank account that requires you to execute your iron will-power to avoid buying that morning coffee that has now become off-limits you're going to benefit far more from having 'buckets'.

As money comes in it should automatically be dispersed into a series of 'buckets' (separate accounts).

4. The #1 Misconception When It Comes To Buying An Investment Property

It's true, real estate investing has made many-a-millionaire... but there's a big misconception (that seems extremely obvious) that most don't pay any attention to.

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Buying an investment property for $250,000 and selling it for $350,000 only 3 years later is great, that's $100,000 above the price of purchase! But that's not taking into account the outgoings along the way such as...

The $50,000 you spent on renovations...

The $500 a month the rent was falling short of the mortgage (negative gearing) totaling $18,000...

The fees owed to the real estate agent and to close the deal.. ($5000~)...

Taking the above into account that $100,000 gain can very quickly dwindle down to a $27,000 gain!

5. Plant & Grow

The best time to plant a tree was 10 years ago, the second best time is today!

When it comes to building wealth via compound interest time is your biggest ally.

“The magic of compound interest – interest on principle and interest, not just simple interest on principle. The eighth wonder of the world.”

Compound interest works wonders, the power of a regular investment and time build many, many fortunes.
For example, $100 invested each week for 20 years with a 8% return will leave you with $256,999.19.

This technique is always overlooked because it’s not flashy, it doesn’t involve picking a lucrative penny stock and taking a roll of the dice, hoping you get 10x back on your investment. Investing 10% is simple and it works long term.

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>>Pick Up Your Copy Of Scott Pape's Barefoot Investor Here<<

Scott J.
Scott J.
I’m SJ. I’m a fitness enthusiast and published author. I transformed my body from a skinny fat 135lbs with 18% body fat to a solid 192lbs at 8% body fat. I became qualified in a field I was passionate about. I founded several online businesses that allow me to pursue ideas and projects in my life that I am passionate about without having to constantly worry about money. I published several eBooks explaining the training and dieting techniques I used to achieve the body I have today. I learnt a plethora of new information on dieting and fitness by reading and applying what I read, to find out what does work and what doesn’t work, because as I’m sure you’ve noticed the health and fitness industry is full of non-sense claims and BS. I found out what was true and what worked for me and applied that knowledge. And you bet I had fun during the whole process.

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