26 May 2018

Book Review: The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future by Pamela Yellen

The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future by Pamela Yellen

Anyone who has read our How To Manage Your Monkey blog knows when we review a book on finance, we try to be as fair and balanced with our review as possible.

By now our readers also know that when we find something wrong with a concept, we tell you. We have looked all the way through The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street, and Take Control of Your Own Financial Future by Pamela Yellen and we have to tell you we did find one flaw. On page 95 when the author is discussing the alternatives to using The Bank On Yourself method, she says we could face a future where we say, “And would you like fries with that?” The flaw is, the training tells you to say, “You want fries with that” with the tone of a question. It is actually hypnotism at its best. And, it works.

Well, now that you have read that major flaw (said tongue in cheek) we will tell you that this plan just might work.

Like just about every other book on personal finance we have read, Yellen starts out by telling her readers the flaw in most other means of financing a retirement. That part of the book seems to go a little slow. Don’t give up. The book gets much better and the plan really seems to be a good one.

Albert J. Zdenek Jr, author of Master Your Cash Flow: The Key To Grow And Retain Wealth gives us some very sound advice that one should remember when reading any financial plan and that is, “Do the Math.”

It is too late for us to do the math. I was forced to retire 22 years ago. If I had The Bank On Yourself Revolution and not been too hard-headed to heed the advice given, we would not be having to try to make ends meet by eating beans and rice or ramen soup quite so often. Had we known about this plan and followed it the times spent in the nursing home (because that is the only way Medicare would pay for my IV fluids) could have been spent in my own home with visits from home health. With The Bank On Yourself Revolution, my wife and I could have made the choice.

We give The Bank On Yourself Revolution all five stars. It is very well-written and a well thought out plan for maximizing your wealth. We think anyone who plans to retire in this century needs to read this book. You will be glad you did.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative. We are disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255.  


Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.
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