Automatic Wealth for Grads by Michael Masterson
I picked up this book at a second hand store thinking, “Hey, I’m a grad! I like money. Perfect.”
It is a light read – mostly a philosophy about how to live once you are making $150,000/year/family.
There’s not too much about how to get to that point besides work hard and save money and invest it in the market, start your own business and invest in real estate. Duh.
But I really do like the philosophy of the writer – that you can live “rich” with $150,000. Want a crazy sports car? Buy a cheaper brand that is just as good, and buy it used. Want great clothes? Pay for the quality but don’t pay for the brand name. There is no difference between a $150 shirt and a $2,000 shirt besides the brand name.
Same for food. There is no difference between a really good cut of meat cooked at a good restaurant and a really good cut of meat cooked at a good and brand name restaurant (except $70 more in price!).
The book contained a good philosophy, but not a lot of substance. But I am glad I read it.
