What Will You Learn From this audiobook?
Tackling 9 specific financial myths, Killing Sacred Cows is a must for mission-driven individuals. It plainly reveals these shocking truths kept hidden by the traditional financial industry:
A 401(k) is not the "safe" and "smart" plan that you have been told it is; in fact, it's an extremely risky investment for most people. Learn to create safer investments that are collateralized, cash-flowing, controllable, and aligned with your expertise, passion, and purpose.Conventional retirement planning strategies, techniques and products are probably keeping you from the retirement you really want. You can maximize the productivity of your resources, reduce risk, and retire well with the right education and a proper macroeconomic plan.Net worth is a poor indicator of wealth and your ability to retire well. What matters is cash flow, and this book will teach you how to develop it.Debt may not be what you think it is. Learn the proper definition of debt and how this understanding can immediately increase your prosperity."High risk equals high returns" is dangerous dogma. Learn how to increase your returns and reduce your risk through smart, value-based investing.How to identify the hidden factors that are causing you financial pain and misery. Finally, you can treat more than just symptoms and address root causes. By the time you're done listening to this audiobook you'll know more about personal finance than most financial advisors - and this is no joke! You'll discover how to take control of your finances NOW. After hearing it, you'll scoff at generic recommendations from financial advisors who push the same products on every client regardless of their unique personal goals and financial blueprint.
Customer ReviewsSee All
I would have called it Myth Busters
I think Garrett could have called the book “Myth Busters” but that name was already taken.
There is an echo chamber in the financial services industry today. As technology changes, as opportunities grow, as the work-place and career paths become more dynamic- the financial services industry continues to give the same advice they’ve given for the last 60 years. Get a stable job. Max contributions to 401k. Avoid risk. Trust the plan. Retire at 65, live off the interest. Experts are saying the same thing, inviting each other on each other’s talk shows, and recommending each other’s books.
Garrett one by one, systematically reduces these “sacred cows” into myths at best- lies at worst. This book hits home for me, as I’ve made most of the mistakes he mentions in his book.
The book isn’t simply a blueprint for financial success or freedom- it presents the idea that fulfilling your sole purpose, and maximizing your human life value, is the way to live a fulfilled and meaningful life. And, when you are using your unique ability, the thing that you are best suited for; essentially, as you create the most value in the world, dollars will follow.
This book has a lot of meat in it. I’ll be referring back to this book, as it isn’t simply a 1-2-3 strategy, but a philosophy for living that will require some Ready-Fire-Aim implementation and some time to understand its implications.
Some examples: Killing Sacred Cows dives deep into the role scarcity plays not just in our financial lives, but in our relationships, our productivity, etc. The idea of scarcity can be summed up by the homie euphemism, “if the pie is only so big, how can I get my share of it?” Garrett presents the idea that a finite pie is a lie- and although that probably wouldn’t make for a good country song lyric, its true. And frankly, if the pie WERE finite, thinking that way doesn’t help us be generous or move forward in difficult times, does it?
Another myth burst is the idea that we’re in it for the long haul. Throughout my career I’ve listened to and coached hundreds of people who wondered, essentially, “is this all there is to life?” They’ve been waiting for their lives to be meaningful, and they continue to wait until they retire. Deferment isn’t just a tax-avoidance tool, its a decision-avoidance strategy.
A third myth burst is the “high-risk equals high-rewards.” I learned that lesson during the great recession. I barely flipped an investment property right as the market was turning, but lost my actual house as my payments adjusted to a rate I couldn’t afford. This was an investment I didn’t understand, which puts it in the “bad investment” class, according to Garrett.
Overall, great book. Lots of good information- and although the book was written a few years ago- its a testament to the principles that they still apply. I hear Garrett has another book in the works- can’t wait to get my hands on it.
(Full disclosure- I was NOT paid or asked to post this review, but I HAVE known Garrett personally, and have attended the financial events in the past- which I can also recommend. Not all bias is bad. :) )