Wealth Creation: My Journey to Prosperity Through Personal Finance

by J.R. Foster

Wealth Creation is a book about my journey to prosperity through personal financial planning. I begin by discussing psychological aspects of this process, general strategies for debt relief and my personal portfolio plan. Using processes which I believe anyone can follow towards the achievement of goals.

Audible Audio

Published April 26, 2023

Reviews

[Randy · Rating 2 out of 5]

Got it on Audible with a spare credit. It was OK. Nothing profound, but rather a nice reinforcement of many other personal finance tips. The piece that was unique, and honestly lost it a few stars, was that the author shared their investment/wealth creation framework, and I don't honestly have an issue with the 50% Low Risk, 30% High Risk, 20% Commodities (that mix isn't for me) but rather that the author referred to a Roth IRA and REITs as examples of the "low risk" investments. An IRA is a type of account, not an investment. You could have low risk or high risk assets in an IRA. And a REIT is not low risk. We watched them fall 30+% over the last few years as the real estate markets have been in turmoil. He then refers to index funds as "high risk". Again, completely wrong as the risk is a characteristic of the specific index fund that was chosen. Not all index funds have the same risk, and many are the cornerstone of a conservative portfolio.

The framework is thought provoking, I appreciate a different view, but I'm not a fan of straight incorrect information.