Book Review: The Last Lecture

It's been a crazy week for me and I have been really stressed. On a promising note I read an excellent book titled "The Last Lecture" by Randy Pausch. You may have heard Mr. Pausch's story, he presented a lecture at Carnegie Mellon after being diagnosed with terminal cancer. The book is excellent and it provides a point of view that makes you consider your priorities, what matters most and how to live your life.

I really enjoyed reading about Randy's life and his childhood. As a mater of fact, I plan on incorporating his use of his "dictionary to get through dinner" as part of our family dinner discussion. As stated in the book, Randy Pausch's parents drove his thirst for knowledge. To quote Randy's parents from the book, "if you have a question, then find the answer."

I pulled several additional Paushisms from the book including:

• Luck is what happens when preparation meets opportunity.
• Whether you think you can or can't, you're right.
• Experience is what you get when you didn't get what you wanted....... and experience is often the most valuable thing you have to offer.
• In preparation to do something consider what's the most terrible thing that could happen?
• One thing that makes it possible to be an optimist is if you have a contingency plan for when all hell breaks loose.

If you would like to see the last lecture by Randy Pausch please click on the following link http://www.youtube.com/watch?v=ji5_MqicxSo.

I highly recommend this book to improve your outlook on life and to boost your Solid Planning.

Pausch, Randy. New York: Hyperion, (2008)

This is the seventh book review of our planned fifty two book reviews.

Book Review: Flipping The Switch

As a follow up to the book titled QBQ! we read the second book by John G. Miller titled, Flipping The Switch. In this book the author explains the QBQ! Advantage Principles, which are five concepts that drive behavior: Learning, Ownership, Creativity, Service, and Trust.

Per the author the learning principal is "a powerful advantage in each of our lives. It enhances our ability to adapt to change, reach goals we've set, and become the people we wish to be."

The author goes on to describes the ownership principal as "facing problems head-on instead of blaming, complaining, procrastinating, or making excuses."

In the book the author also describes and provides examples of the remaining principals Creativity, Service, and Trust and how they can be used to improve our lives and our organizations.

This book, like the first book QBQ!, is full of examples and life experiences of the author and is an enjoyable read.

Miller, J. Flipping The Switch. New York: G. P. Putnam's Sons, (2006)

This is the sixth book review of our planned fifty two book reviews.

Book Review: QBQ! The Question Behind The Question

This book is a fun read that focuses on Personal Accountability. The book challenges the reader to ask questions such as "How can I" and "What can I" rather than "Why", "When", or "Who".

The author packs the book with real life examples as he travels the country lecturing on organization development and personal accountability.

If you ask yourself "what can I do to improve to reach my goals", a quick answer is to take action and read this book. Don't wait on others, take action yourself. Eliminate blame, complaining, and procrastination from your life and your workplace with QBQ!

Miller, J. QBQ! The Question Behind The Question. Denver: G. P. Putnam's Sons, (2004)

This is the fifth book review of our planned fifty two book reviews.

Book Review: Debt is Slavery

Debt is Slavery shares the lessons learned by the author, Michael Mihalik, through his life experiences. The book was intended to be short per the author so it can get straight "to-the-point." The book is approximately 123 pages from cover to cover and it is packed with knowledge and perspective.

In the book Mr. Mihalik shares his perspectives and lessons. We list a few of the authors points below:

• We have the power to control our money and our lives. We hold the key to unlock the chains that bind us. Yet we either choose not to or we don't know how.
  
• People go into debt because they want a lifestyle beyond what they can afford.
  
• You Don't Own it if You Owe Money On it.
• Every time I wanted to spend money, I'd think of that money as time. When you spend money, you're spending the time it will take to earn that money. (Powerful!)
• The Hidden cost of Possessions - you spend money to maintain, fix, store, clean, and move the stuff. (Sounds like an article we remember.)
  
• It's better to put an item "back into circulation" by selling or giving it to someone who will use it. (Love this one!)
  
• Income-consuming assets trap you. Income-producing assets set you free. (So true.)
  
• To gain freedom from financial concerns, you need to create "passive income", which is earning money without having to trade your time for money. (Great point!)
  

The book also covers points on minimizing your monthly bills, saving your salary, eliminating debt, and creating a financial plan.

A Solid Planning must read. Read this book and begin breaking the bonds of debt!

Mihalik, M. Debt is Slavery. Seattle: OctoberMist Publishing, (2007)

This is the fourth book review of our planned fifty two book reviews.

Book Review: Rich Dad Poor Dad

Like us, you probably have had this book in your collection and have not picked it up in a while. That was our mistake! Today's economic conditions have proved Robert Kiyosaki's lessons which are explained in the book. For example, we bet Mr. Kiyosaki is no longer challenged on the idea of a house not being an asset.

If you do not have this book in your collection, or can't find it, we highly recommend you track down a copy. It contains many excellent suggestions that can be applied in building your plans.

In the book Mr. Kiyosaki explains important lessons he acquired in life. We list a few of these lessons below:

• A simple definition on an asset - assets put money in your pocket while liabilities take money from your pocket.
• The poor and the middle class work for money while the rich have money work for them.
• The main cause of poverty or financial struggle is fear and ignorance, not the economy or the government or the rich.
• Rich people acquire assets while the poor and middle class acquire liabilities, but they think they are assets.
• The rich focus on their asset columns while every one else focuses on their income statements.
• Keep your expenses low, reduce your liabilities and diligently build a base of solid assets.
• The No. 1 expense for most people is taxes. Many people think it's income tax, but for most Americans their highest tax is Social Security.
• Build your financial literacy, also called your financial IQ.

Mr Kiyosaki closes Rich Dad, Poor Dad with "Take Action!" We agree! Read this book and begin your Solid Planning today!

Kiyosaki, R. Rich Dad Poor Dad. New York: Warner Books, (2000)

This is the third book review of our planned fifty two book reviews.

Book Review: Gimme My Money Back

We purchased Gimme My Money Back to learn more about the 2008 financial crisis and to learn how to improve upon our retirement plan investment strategy.

Despite the ridiculous title the book does an excellent job of explaining investment terminology and the events that lead up to the current economic situation found in the United States. The book takes you through asset allocation, investment diversification, and a step by step approach to build your own custom-tailored portfolio.

Based on the information we gained from the book we have changed our investment elections in our 401(k) account. We believe our portfolio is now better positioned to handle the fluctuations in the market.

If you want to build your financial knowledge and minimize your investment risk we highly recommend this book. It is a pleasure to read and it contains excellent information, tools, and guidance. We give Gimme My Money Back two thumbs up.

Velshi, A. Gimme My Money Back. New York: Sterling & Ross Publishers, (2008)

This is the second book review of our planned fifty two book reviews.

Book Review: Rich Dad Poor Dad

Although I have not finished re-reading Rich Dad Poor Dad to complete our book review. A few items stood out that I had to publish:

"I CHOOSE DAILY: The power of choice. That is the main reason people want to live in a free country. We want the power to choose. " "Financially, with every dollar we get in our hands, we hold the power to choose our future to be rich. Poor people simply have poor spending habits."

"PAY YOURSELF FIRST: The power of self-discipline. If you cannot get control of yourself, do not try to get rich."

"Why consumers will always be poor. When the supermarket has a sale on, say, toilet paper, the consumer runs in and stocks up. When the stock market has a sale, most often called a crash or correction, the consumer runs away from it. When the supermarket raises its prices, the consumer shops elsewhere. When the stock market raises its prices, the consumer starts buying. "

Kiyosaki, R. Rich Dad Poor Dad. New York: Warner Books, (2000)

Book Review: Saving On A Shoestring by Barbara O'Neill

Saving On A Shoestring is a good starter book for families interested in savings strategies. The book points out solid planning advice and tips including: Pay Yourself First, Establishing Goals, Ways to Save Money, Retirement Planning, Credit Management, and Ways to Reduce Income Taxes. The book also includes easy to use worksheets that will assist you in managing your money.

Some individuals may believe these topics are common sense approaches, however, if want to start with the basics we give this book two thumbs up. We recommend you check out the book at your local library to see if it belongs in your personal library. If you desire to purchase the book we have placed a link in our Knowledge Builder section which can be found at the bottom of this page.

O'Neill, B. Saving On A Shoestring. Chicago: Dearborn Financial Publishing, (1995)

This is the first book review of our planned fifty two book reviews.