The Business Owners’ Guide To Financial Freedom is a book tailored for small business owners and entrepreneurs who are looking for long-term financial planning and wealth management.
The book reveals the secrets behind successfully investing in your business while bypassing Wall Street-influenced financial planners. It provides insights on how to eliminate and avoid bad debt while leveraging good debt, uncover investment strategies that Wall Street won’t tell you, and achieve long-term goals.
The main themes of the book include long-term financial planning, wealth management, investment strategies, and debt management. The author emphasizes the importance of taking control of your finances and investing in your business to achieve financial freedom.
What I Liked
I loved the details in this book. The broad advice – diversify, use your business to build personal wealth, – is all pretty classic. But the book really excels in explaining how think about cash flows, business investments, equity, debt, and paying yourself. It is a very practical read. I highly recommend it, especially for small business owners. Also, political side note – I have the world’s tiniest violin for wealthy Americans and their personal tax complaints. I’m all for debating tax policy, but the number of completely legal, ethical, and open tax strategies that make sense only above a certain income or with certain employment status is mind-boggling. This is how Warren Buffet’s executive assistant pays a higher effective tax than he does.
What I Did Not Like
It’s a bit heavy on real estate. I understand why – real estate pairs very well with a business high on cashflow. But it’s also an entire other business for some and I think the book could have spent more time on other options.