How to Read THE ROADMAP TO COMMON SENSE INVESTING: A DETAILED GUIDE TO PERSONAL DEVELOPMENT, FINANCIAL LITERACY, MONEY MANAGEMENT SKILLS, AND INVESTING Kindle
This book is intended to help you get started with investing in all areas of your life and will serve as a guide for you to set the correct expectations. We will cover some of the fundamentals along with real life examples to help you get equipped with the skills you need to achieve your goals. You will also get an understanding of what it is you need to focus on, why, and how to get started with personal development and financial management.In order to become successful in life, you have to work hard and invest in yourself. You have to recognize and evaluate your strengths and weaknesses. You have to ask for feedback and accept criticism. You need the ability to formulate a plan and execute without getting distracted. What you learn about yourself during the process will be invaluable.The book then concentrates on the importance of paying down your debts. It is crucial to be cautious of debt as it can have a dangerous domino effect in your life if you don’t get a good handle on it. When you begin to collect debt, you are digging yourself into a whole that will be more difficult to come out of over time so the best first thing to do is to try avoiding them all together. But life doesn't always work out the way we want it to so we need to be realistic.No matter how well you think you can plan your life and manage your money and spending, unexpected things do happen which most of the time are out of your control. But one thing you can do is to be prepared to handle it if the situation was ever to present itself. This is where we cover the notion of creating and building an emergency fund to help deal with unexpected events in life with clear guidelines on what, why, and how.Investing in the stock market is a big chapter in this book and quite an important one. It covers all aspects from creating a portfolio, how to reduce risks, and how to develop and execute a long term plan to help you reach your goals and financial freedom everyone dreams of. We cover different ways and approaches you can take to invest your money into the stock market and profit from it.In addition, the book covers the importance of having multiple sources of income and how that can help provide a certain level of freedom and to help you reach your goals sooner than anticipated. Multiple sources of income will increase your overall cash flow which in turn can help you with unemployment, paying down debt, rising cost of living, and paying for those dream vacations.The book also provides a good guideline on proper money management and explain the importance of buying power versus inflation.There is a big emphasis on the importance of diversification. Diversification is a key component of investing in all areas of your life. Diversification helps you protect yourself and your other investments by reducing exposure to different types of risks. Minimizing risk can help you achieve your goals quicker regardless of what they may be.Staying focused is another big topic covered in this book. After all, it doesn't matter how good of a plan you have if you can't stay focused on executing that plan. If you want to succeed, you have to stay focused and ignore distractions that are surrounding you. You have to push through the grind and put in the extra time. But don’t lose track of the things which are essential to your happiness.This book will help you build a foundation on financial literacy and gain the proper money management skills required for you to become more self-sufficient so that you can reach your goals and prevent you from making poor financial decisions. it will help you understand what things make you happy consciously. If you are happy but don’t know why, you won’t be able to maintain it. If you are unhappy and don’t know why, you will remain unhappy. If you want financial freedom, you need to educate yourself and start early. Find a balance between your spending and don’t let debt take control of your life.
