Set for Life, Revised Edition: An All-Out Approach to Early Financial Freedom

4.6 4.6 out of 5 stars | 2,119 ratings

Price: 17.46

Last update: 07-22-2024


Top reviews from the United States

Anton Aceves
5.0 out of 5 stars Great, informative and useful tools to get on your way to financial freedom.
Reviewed in the United States on July 4, 2024
Scott offers the reader a very easy and step by step explanation of what it takes to get going on the path to financial freedom. Highly recommend it, especially for people who need help figuring out where to start.
Amazon Customer
5.0 out of 5 stars A lot of good information
Reviewed in the United States on March 27, 2024
A very helpful book! As with all information, not everything written will apply to every single person. It’s the readers job to take in ALL information and choose for themselves which parts apply to them and what they want to use. I found to be a great read! I may purchase again and give out as gifts ????‍♂️
kane
4.0 out of 5 stars Helpful
Reviewed in the United States on April 23, 2024
The advice in the book was helpful, but I discovered it too late, and some of it is no longer relevant to me.
Blair
5.0 out of 5 stars Awesome book
Reviewed in the United States on February 6, 2024
My husband enjoys reading about finance books and this has become one of his favorites. He’s bought more than one copy so he can give it as a gift. He also expects our kids to read this book as they get older.
It’s a great resource with good ideas and recommendations.
AC
5.0 out of 5 stars The next evolution of personal finance
Reviewed in the United States on May 5, 2017
This book provides an excellent framework to help one go from little/no savings or useful assets to having enough passive income to support his or her lifestyle for life. I see it as a landmark for personal finance books, compiling the best information made available for the last decade. From saving money to boosting one's income, this book covers the whole gamut of personal finance and financial freedom.

Part I looks at the classic and most well known aspects of personal finance - savings. If you are familiar with the advice and writing of Dave Ramsay, Mr. Money Mustache, and Ramit Sethi, you will be familiar with some of the advice in this section. However, this section also helps one focus on the most important and effective things: cutting down spending on the largest expenses (think commuting and housing rather than cutting out Starbucks).

Part II looks at acquiring investments and increasing income after successfully completing Part I and having financial reserves available to take some risk in life. This section details how, after cutting the largest expenses (without being miserly), one seeks to earn more money through various investments or career changes. Grant Cardone's advice, "Despite what anyone tells you, it is impossible to get rich without income" is most relevant in this section and Part III, which cannot happen before one accomplishes the objectives outlined in Part I.

Part III looks at the endgame, what this book is all about - becoming set for life. It is a continuation of Part II, but now on a larger scale. Here, one is even more free to take the risks needed to build massive wealth. Soon, he or she be able to quit working even a 20 hour job and still have all of life's expenses paid for through investment income.

This book is an excellent read that can transform one's thinking and life into something incredible. I definitely recommend this for anyone looking to ditch the norm of working full time over forty years at a shot for a (hopefully) semi-comfortable retirement. Recent or soon-to-be college graduates would especially benefit from reading this.
Robert F Gandy
5.0 out of 5 stars Great, valuable, and important for any age...Required for 18 to 25 year olds!
Reviewed in the United States on July 25, 2017
Set for Life combines several philosophies in a step by step process to ensure that a motivated person can live a fulfilled and free life. This is a must read for anyone leaving high school or college. It can also give a new sense of direction to someone who is transitioning to a new stage in life because of divorce, layoff, etc. The philosophies that contribute to Scott's book are living frugally, financial literacy, calculated investing risk, owning your decisions and time.
Living frugally - learn how to live on $2,000/month by reducing or eliminating home and auto payments from your budget. He explains how this can be done in a short amount of time.
Financial literacy - anyone can invest money, but most people do not invest. Most people let someone else invest their money for them with no clue if the investments are a good fit. Learning that there is more than one way to invest your money (or other people's money) is the first step to financial literacy. Knowing how to reduce tax burden is another great tool to set you apart from the herd.
Calculated Investing Risk - If an investment is going to have a decent upside, there will be a risk. Financial literacy will teach you how to overcome or eliminate most risks and give you an advantage over the unmotivated masses. If you are unwilling to invest, you will never be Set for Life
Owning your decisions and time - Reading this book and living the life set forth in it will allow you to understand how every decision leads to whether or not you are free. A free life allows you to choose if you work for yourself, work for whom and where you choose, or let investment income cover your expenses to not work at all.

Don't sleep on this book
GR
5.0 out of 5 stars Excellent overall approach from RE background
Reviewed in the United States on October 26, 2023
I have read many personal books from Dave Ramsey, Ramit, Tony Robins, etc and I liked this one in particular a lot because it discussed many of the strategies that can be implemented from a real estate background such as house hacking. Does not get into keep with budgeting but gives an overall simple great view financial freedom. Will enjoy this and future books from the Bigger Pockets Team.

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