It has been a while since the last book review but this book, The Moolala Guide to Rockin your RRSP by Bruce Sellery, is one I would like to share. The first instalment by Mr. Sellery, Moolala, was reviewed in 2011 with high regard and focused on achieving your financial goals. This book has the same feel as the first book, but with a focus on mastering your retirement.
About the Author
You may have heard the name Bruce Sellery before as he is one of the founders of Business News Network (BNN). Here’s what the book says about him:
Bruce Sellery is a business journalist and professional speaker. As one of the founding members of BNN, he has anchored thousands of hours of programing from Toronto to New York.
More recently, Bruce founded Moolala, a personal finance training company focused on inspiring people to get a handle on their money so that they can live the life that they want.
About The Book
This book, like the first, is broken out into steps to give the reader a step by step guide to understanding and achieving a financially comfortable retirement. I would say that while all levels of personal finance enthusiasts could benefit from this book, it is geared towards the person in the beginner stages.
The steps include:
- Step ONE: Lay the Foundation – Similar to step one in Moolala, this step puts into context why smart people do dumb things with their money. Determines what your money is for. Addressing the consequences. Determining the right level of complexity for you and your money.
- Step TWO: Determining How Much You Need – Calculating how much is enough.
- Step THREE: Develop the Plan – Coming up with a plan. Summarizing the when, why and how much. Understanding TFSAs, Group RRSPs, and spousal RRSPs. Determining how much to contribute.
- Step FOUR: Take Action – Conquering your comfort zone. Opening an RRSP. Diversifying your retirement savings.
- Step FIVE: Stay Engaged – Develop solid habits. Automating retirement savings. Saving more. Bringing it all together with a checklist.
I enjoy Mr. Sellery’s writing style as it is easy to understand with a dash of humour. The section that I enjoyed the most was the section of how much you actually need to retire with examples of various retirement lifestyles.
Want a Free Copy?
I am offering Million Dollar Journey readers the chance to win a free copy of the book (2 copies available). The details are below:
- Tell me one of your financial goals for 2014 in the comments by clicking here. (+1 entry)
- Contest will end Sat 5pm EST May 10, 2014 and the winner, drawn randomly, will be contacted shortly after!