ROADMAP TO FINANCIAL INDEPENDENCE

A sweepingly comprehensive overview of personal finance.

Barbera’s handbook of fiscal literacy begins with a stark opening sentiment: “There is no independence without financial independence.” He’s not here to tell his readers what they should do with their money, only what they could do, always keeping in mind that the fundamentals of money management never change. This book provides a primer on those fundamentals, everything from balance sheets to quarterly reports to profit and loss statements, IPOs, mutual funds, cryptocurrency hedge funds, and all manner of stocks. While always acknowledging that “math is remorseless,” Barbera seeks to “demystify financial wealth” by carefully explaining the potential risks and rewards of all the things people can do with their money. He’s careful to consistently remind his readers that he is not offering a one-size-fits-all set of instructions; rather, he encourages them to take stock of themselves and their own financial needs and wants. Each aspect of finance and investment is first described and then analyzed for its inherent strengths and weaknesses, and all of this is offered in clear, opinionated prose that’s always knowledgeable but never overbearing. The author’s realistic perspective is especially sharp when it comes to investing in the stock market; he notes that “panic is a terrible emotion to act on,” and he holds a dim view of so-called market expertise. “One of the worst things you can do is buy and sell and buy and sell some more,” he writes. “When you attempt to guess what the market will do…you might just as well gaze into your crystal ball.” Barbera is likewise frank about his own preferences (“I’ve flat-out said that I don’t like annuities, won’t buy gold, and don’t care much for bonds”), neatly separating his likes and dislikes from the advice he’s dispensing. The combination results in a sense of intense reliability—readers looking for a solid financial grounding should look here.

A tough, blunt, insightful examination of money matters.