What I Read
The Difference between where you are today and where you’ll be five years from now will be found in the quality of books you’ve read” – Jim Rohn
I couldn’t agree more with what Jim Rohn’s quote.Here are the books I have read or listened to in the month of August – followed by a brief review.
- AARP Crash Course in Estate Planning: The Essential Guide to Wills, Trusts, and Your Personal Legacy – I have the test for the estate planning part of my CFP curriculum soon. Beyond reading just the textbook, I find it helpful to read a book or two about the topic. The ARRP Crash Course on Estate Planning would be a good read for someone who wants a brief overview of what estate planning is before they talk to a professional.
- Plan Your Estate (National Edition) – Out of the two books I read on estate planning , Plan Your Estate was the better of the two. Instead of giving just a brief overview, Plan Your Estate was a more detailed guide to estate planning.
- Harry Potter and the Order of the Phoenix (Book 5) – A very enjoyable fiction book. Each book keeps getting better than the last.
- The New Influencers: A Marketer’s Guide to the New Social Media (Books To Build Your Career By) – A good book on how blogging began. However, since the industry has changed so much in the few years , a lot of the book is out of date. That being said, the author released a newer book that is more relevant today.
- The Magic of Thinking Big – The Magic of Thinking Big is one book I read every few months. Each time I read it, I ingrain the concepts in the book more and more. For someone looking for a personal development book, I couldn’t give a higher recommendation than the Magic of Thinking Big.
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich – The is another book that I reread every few months. Many of the core ideas in the book are congruent with the kind of lifestyle I’m pursuing.
Net Worth Update
Following the conclusion of each month, I perform a monthly review on my finances. Together, my wife and I review our budget and calculate our net worth/net wealth.
It was a really good month financially. The big gain in our net worth is attributed to the stock market. Our income was around average, but we managed to decrease our expenses a lot since we didn’t have any big purchases for the home.
% Change From August 1st to September 1st = +2.98%
Passive Income Business : Average Monthly Expenses Ratio
I choose to define passive income as income received that required little or no work. The goal is to have a passive income to monthly expense ratio higher than 1.
This is something we just started tracking and working towards. As of now, we don’t have any passive income coming in from a side business. Hopefully that will be changing in the future.
September 1 – Passive Income:Average Monthly Expenses = 0:1
Goals For September
Before October 1, 2009 I will:
- Pass the Estate Planning Portion for my CFP curriculum- Passed a few hours ago!
- Reach 100 visitors a day on GenYwealth
- Update site design with Thesis Theme and get a logo from 99 Designs
- Have a complete outline and 15,000 words written for an ebook
- Complete 2 projects on the house that will save us money in the winter
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