Book Review ‘Tricks Of The Rich’ By Paul A. Overy

By | October 29, 2013

If you are looking for a book on growing money then this might be the book for you. It is written in very clear and plain English. The chapters are clearly defined and they cover a wide variety of topics.

ISBN: 9780273736356 Price £10.99

The book is very well priced considering the information that the book contains. It is a book full of practical advice on how to increase your wealth and to become financially free. The concept that Overy is using is one that has been in people’s mind more lately than ever before, but Overy is thinking about when you give up work and still have money or an income coming into your home. Many people are using the term, being financially free as a way to live your life not being controlled by debt and that the money that you are earning is yours to spend and not spending money that you haven’t got.

One of the key pieces that Overy talks about is looking how the rich handle their money and look for ways that this might be the better way to handle money. The rich people always pay for their financial advice and this could be something that is vital in today’s market. If you are looking for financial advice if you are prepared to pay for that advice are you going to get better advice than someone who is offering free advice?

The chapters of this book cover a wide variety of topics and they are packed full of information.  Some I would question, he suggests that if you have debt and you have savings then you should use all your savings to pay of the debt. This can work up to a point, you do not want to put all your savings into paying off debt because if there is an emergency then you would need more debt to proceed and this could put you back to square one. I see the point that if you are paying out high interest rates for loans and the return that you are getting is considerably lower for your savings then it is going to make some financial sense, but you will need to keep a proportion back for emergencies.

I liked one of the chapters it is about having a rich check list and you go through and plan your future including having a date and a time frame to accumulate the money that you will need to become financially free in the term of the author.

I feel that the titles of the chapters tell you so much about a book and what it could offer. You will be able to find information in these and be able to dip in and out as you please.

  • What is financial freedom
  • Be advised like a rich person
  • A few simple money-saving ideas to get you started
  • The golden rules of the rich
  • Borrow to create wealth, but borrow wisely!
  • Invest like the rich
  • The rich keep more of their income and how you can too
  • How the rich pay less tax
  • The rich checklist
  • Do it – or stop moaning about money

As with many pieces of advice there are some that are great, review finances regularly and make sure your plan is still on track, and there are other pieces of advice that I question and wonder if it is something that I would consider doing.

This is a book I would recommend as it has some very useful ideas and I am certainly keeping an eye out for future books from this author.

 

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