Top critical review
Better Title: Open a business or buy real estate to keep working
Reviewed in the United States on January 26, 2021
This book is extremely frustrating. I bought it as I'm 1/2 way through my nest egg FIRE journey and looking forward to hanging up my corporate job. I wanted to get some good budgeting guidance to validate my plan. This book is written to blow up plans, with scare tactics about interest rates and valuations that rely on historical data, while downplaying the role of historical data related to rates of return. There were years, with bad political decisions and poor global integration, that did have inflation spikes, but to plan for 3% forever inflation seems worse than planning for 10% ROI annually; it's simply not realistic when the Fed & Government want to prevent that from happening. Worse, this is all done to lead into the conclusion of the book, which basically is "start a business and buy real estate for cashflow to never worry about nest eggs"... this is stupid. Why? Because if I wanted to start a business, it's safer to keep my job. Real Estate is also a full time job and headache. The point of retirement is to enjoy it, have leasure and time to travel. if I'm tied to a small business and real estate, then why bother retiring. Keeping a basic job seems easier than the complicating factors of businesses and real estate. Most new businesses fail anyway, so it seems like horrible advise to use faulty logic to scare the reader into starting a business, buying annuities (yack!) and real estate. I wanted to know how much money I needed, and in the end, this tried to distract me into continuing working, but only for myself, with all the risk of being a middle aged single proprietor. I think I'll keep my job a few more years and make sure my nest egg is solid, and avoid all the work and headache of real estate and business ownership. I'm surprised he didn't recommend Franchises at one point!