Life is like a river and most of the people jump on river without ever really deciding where they would end up. In the beginning, they enjoy the float but soon they get caught up in the current. When they come to forks in the river, they don’t consciously decide where they want to go or which the right direction for them is. They merely swim with the current. They are part of mass of the people who know only one thing, that is, jumping on the bandwagon rather than be directed by their own goals set upstream.

Personal Finance is such a subject that majority of the people don’t bother to study in their entire life. They wait for the paychecks; pay the minimum amount on credit cards and personal loans; remain under debt the whole life. They, in first instance, don’t save money and if they save, do so without planning and knowledge. Then one day, they find themselves on the edge of Niagara Falls. That is the time they experience the torment of financial fall which they could have avoided by making some wise decisions during the course of journey.

Ever since I launched myself in practical life, I had been reading books on savings and investments. I read from George Clason’s The Richest Man in Babylon to Robert Kiyosaki’s Rich Dad Poor Dad to get guidance and motivation on investing and saving. But Rick Rodgers book The New Three-Legged Stool is very different than what I had been reading. The book is practical; gives case studies from real life; dry numbers don’t make your reading sessions painful. Charts and graphs make the book very much understandable. It talks in detail about three vital parts of Personal Finance, namely:

Leg # 1: Tax-Deferred Savings
Leg # 2: After-Tax Savings
Leg # 3: Tax-Free Savings

After discussing an idea in detail, Rick gives you the summary under “Rick’s Tip” for reinforcement. The book is not meant to be read after retirement; it is has to be read, absorbed and assimilated while you are working. Your today’s decisions will have tremendous impact on your post retirement life. If young grads read this book at the start of their careers, trust me, that will be the best investment they can make in themselves. I highly recommend this book to be included in the curriculum of business schools. Young executives, in their careers, manage the billion dollar portfolios successfully but on personal front they end up as financial losers. Ignorance is no more bliss; it is a curse. Read Rick’s The New Three-Legged Stool and get your Personal Finances on sound support.

Last but not the least, if you don’t have time to read it, don’t make your investing decisions on whims and volitions. Hire a competent financial physician and entrust your finances to his or her wisdom.

Book is availabe at Amazon.

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