Sunday 1 July 2018

Book Review: Dream Big

Book name: Dream Big
Author: Dr. Mukesh Jindal and Anuraj VS
Genre: Non-fiction
Standalone/Series: Standalone
Publishing Date: August 15th 2017 by CNBC TV18
My ratings:
barrons_4-5stars
Blurb:
Thirty six year old Vaibhav, the ever-smiling symbol of new age Indians, started his career as a driver. Today, he is the owner of a flourishing taxi service business and is scouting around to buy a Mercedes Benz...not on a loan but with the wealth he has amassed over the years!

How did he get from being a driver to a millionaire? Three simple secrets - he had the courage to dream big, learn about financial planning and implement what he learnt. Now, while you don't need anyone to help you to dream big, here is a book that will teach you everything that Vaibhav learnt. All you have to do is find the tenacity to implement it.

Everything, from the importance of saving and investing and the need for life and health insurance to various investment products like mutual funds, SIP, PPF etc. that can enable you to build wealth, is explained in this book in simple and jargon free language. It helps you to choose instruments that are most suitable for you and explains why you would be better off without others.

Dream Big simplifies and breaks down common financial planning principles such as risk profiling, asset allocation, portfolio construction, rebalancing etc. and explains the tax implications of various investment decisions. It also contains sections on planning for retirement and a legacy, and financial planning for women, divorced individuals, defence employees, senior citizens, etc.
 
This book review is a part of "The Readers Cosmos Book Review Program and Blog Tours", for details log on to thereaderscosmos.blogspot.in. All thoughts and opinions are my own and unbiased.

MY REVIEW

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We are taught everything from mitochondria being the powerhouse of a cell to the complex problems of differentiation in school, things not actually used in real life, in my opinion. But what we are not taught are some of the basics for survival in this world once we get out. Financial planning is a topic which is never talked about in school, unless you opt for the particular subjects but financial education is something that every person should know about. It isn't necessary to have a degree in the subjects, but the basis should be clear to everyone for better planning of the future. I, personally, had very less financial literacy before reading this book, and had the perception that things like mutual funds, debit funds, insurance and the kind are for old people but no! After reading this book I feel as if it's a must for the young generation to know about these things and participate too, and that too for their own benefits.
I felt that this book was written in a very friendly manner and the intimidating topics were explained in very easy language for beginners like me. The author begins with telling about the importance of investments and some new concepts like inflation are elaborated, making the reader understand why investments are important to survive in this world.
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After establishing the importance of investments in the readers mind, the author reveals the world of mutual funds, debt funds, insurance, equity funds, legacy planning and the like. The reader is able to understand these complex topics, thanks to the simple language used in the book, very well. These topics are broken down and explained in some detail, such a not to overwhelm the reader, but at the same time, understand that this is a serious topic of importance.
Many people go for expert help for managing their finances, but I felt that this book succeeds in giving a basic idea regarding various topics we might need to use at various stages in our financial life. This book has something for everyone. Since financial needs are relative from person to person, so is the respective financial planning.
If you'd like to get a basic idea about these topics then this book is for you. I'd recommend this book to you if you are a fresher int his field, or if you are a school or college student not having the subjects of finance or thinking about getting these subjects.
This book taught me a lot about how to invest our money in the right direction and I think I can say that buying this book will be an investment. :)

HAPPY READING EVERYONE!