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Tuesday, 16 July 2013

Dr. Karthik’s Review on “From the Rat Race to Financial Freedom – A Common man’s Journey"

The author Manoj Arora has very successfully brought out through the Jaico Publisher House, a very handy, useful and a ready reckoner on the road to financial freedom. With liberal doses of philosophy, myth busters on wealth creation tools, taxes savings the writer has provided practical examples from his own personal life as well. Through this openness and transparency he has illustrated how a few very simple disciplined practices can put the layman common reader on the highway of financial and life well being.

Numerous quotations and sayings at the commencement of each of the eight chapters facilitate good food for thought to all classes of readers. These are good to ponder and ruminate over even after a long time after completion of the book. Time and money are two parameters for a successful life. Larger perspectives of life should be in the mind in the long run. Financial independence also springs from the true happiness of “giving” rather than “taking”. A noteworthy point is the super power of compounding money aligned with the maxim, “Even if you win the Rat Race, you are still a Rat”. Several punching words at the beginning and end of each chapter are life worthy.

A subtle message succinctly brought out is the difference between financial freedom and displaying social status and wealth. Investment to beat inflation and taxes is brought interestingly for the reader to develop one’s practical understanding.  A personalized guidance facilitated by the author in furnishing his personal email ID and his website should be acknowledged and appreciated by the readers. Financial literacy is as important as academic qualifications. The tapping of the benefits of gratuity is neatly demonstrated in the book. Discipline, patience and commitment are the virtues to be inculcated. Comparative tabulations are good examples in selling, purchasing, maintaining of assets be they Jewellery, Gold, stocks, Bonds Deposits Dividends and the like. Knowledge removes fear. Understand the principles of wealth accumulation and live by them. A “To do” approach is provided by the author.

Financial freedom gives you added ability to pursue hobbies and other interests of life.  Life becomes happier and worthwhile. Start early is the advice of the author. The book gives a personalized reading and makes you feel as if it is written only with you in the mind.  Ample illustrative examples of achievements of how and when the interest overtakes the Principal, compounding with time and discipline are inspiring. Financial freedom is indeed a blessing to the invoked. Issues like capital gains, Credit, debit cards, snake and ladder board games analogy of life and finance, “pay yourself first” approaches in investments are well dealt with in the book. Author summarizes, “Success is no short cut”. Several useful tips are an important highlight of the book. Sharpen your financial saw is another motto. Learn through failures also with the right attitude. “Money saved is money earned”. Thereby beat inflation. Simple concepts but brilliant ideas! Have a plan even if you are unable to stick to it.  The author discusses various such ideas in one’s goal to financial freedom. Proactive tips regarding fixed deposits are productive to the reader. A special advice on Gold is very nice to read for implementation.

Related Bibliography and references can enable people who want to assimilate further knowledge and information.  The Pareto principle of mathematics is well analysed in these contexts.  The act of celebrating milestones is enjoyable to read. Quotations, sayings from several celebrated personalities is yet another excellent compilation. A nation’s independence is well paralled with an individual’s financial freedom in several pages by the author. Retirement benefits and planning will be a good read for the senior citizens.  A good coverage of spirituality regarding “God Knows how to help you” is praiseworthy. Glossary at the end of the book is very useful.  The author has gone the extra mile effort in his compilation of related recommendations of movies and books as add-on benefits.

On the whole, From Rat Race to Financial Freedom is a book worth possessing for any household shelf, library stacks and short travel companionship.


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