Just finished reading the book Start Over, Finish Rich by David Bach. Although written in 2009, when the Global Financial Crisis was ending, most of what is mentioned is still very much applicable in today’s context.
Seeing that in the year 2010 will present a great opportunity in building wealth, David, in his book, wrote about how to get back on track financially by staying positive and continuing saving and investing.
During a financial crisis, a lot of people give in to fear and despair. They stopped their savings and investment plans altogether and when the economy starts to recover, many of them missed the opportunity to build their wealth.
In the book, Start Over, Finish Rich, David talks about how to:
- Find Your Money
- Deal with Your Credit Card Debt
- Fix and Protect Your Credit Score
- Rebuild Your Emergency Savings
- Re-energize Your Retirement Plan
- Make it Automatic
- Rebuild with Real Estate
- Rebuild Your College Fund (and Restructure Your Student Loan)
- 25 Ways to Save $5,000
One of the most important lessons to be learnt from reading the book Start Over, Finish Rich is not to give up when crisis strikes, wiping out your retirement funds. All you need to do is to get up, dust yourself and continue the journey which you will finish rich eventually.
Although 2010 had already past, the lessons to be learnt from reading this book can still be applicable in future on the next downturn of the economy. It would be good to read through the book, understand the topics covered in it and adapt the ideas on the next economy downturn.