Book: Buy This, Not That – Sam Dogen
Author’s Website: https://www.financialsamurai.com/
Category: Personal Finance
Worth the read: Yes
Insights: Really enjoyed his writing style. He did a great job providing very useful and actionable rules of thumb for personal finance. He challenges the reader to pursue a high income. This book is targeting high earners much more than the median income American.
- Goal is to work up to a 50% savings rate
- Do not buy a car that costs more than 10% of annual salary
- Debt pay down rule of thumb – interest rate x 10 = % of free cash flow that should go towards debt pay down
- By age 40 you should have a side hustle
- After your 30s consider passive real estate investments
- Try to have kids around age 30-35 to maximize career potential
- In your 20-30s change jobs every 2-5 years to maximize earning potential
- Target 200-320k per year in take home to maximize happiness
- Having children is an awesome experience, limit spending on private schools
- He had a home purchasing rule of thumb – believe it was 3x. The more important take away was only have the space that you require. Target housing expenses to be less than 30% of expenses. Goal < 10%.
Seeking Progress 