How To Gain Real Financial Independence

By James Ellingford

Where do you want to be in two years? What do you really want to do with your life? How much money do you really need? Surprisingly, most people cannot answer these basic questions about their personal lives. It just so happens that these, and a host of other crucial questions, form the core of any sound, long-term financial plan. Wealth starts with planning and author James Ellingford, Ph.D., helps you to not only plan your financial future, he gives you a reliable and proven approach to secure that future in his new, groundbreaking book, How To Invest To Gain Real Financial Independence: The Seven Golden Rules To Wealth. Life goals and financial goals are not separate subjects that can be discussed in isolation. Simply put, the synergy of life and finances can be summed up in one word: planning. Without a plan how do you know, how does your spouse, partner, or lover know where you want to go financially in life? Financial planners, brokers, and the broader financial industry are myopic when it comes to planning, often giving advice to investors that runs counter to their clients’ best interests. Why is this the case? It happens because the average person has not learned the Seven Golden Rules for creating wealth in their life. Consequently, they do not know how to plan properly and leverage that planning into savvy investing in the share market. Armed
with the no-nonsense information provided by this book, those new to investing can take charge of their financial futures and confidently move forward knowing they are making sound and prudent financial choices with their hard-earned money. How To Invest To Gain Real Financial Independence: The Seven Golden Rules To Wealth is an astounding financial resource and a must read for anyone serious about his or her long-term financial well-being.

• Language: English
• Publisher: James Ellingford
• Release date: May 8, 2013
• ISBN: 9781301383955

James Ellingford

Dr James Ellingford happily retired at forty-two after a successful corporate career, and luckily he now has the time to pursue many of his lifelong passions. Currently James spends all his time managing two board positions with public Australian companies, with his family, his much-loved Bernese mountain dog, Caesar the Magnificent and his beloved Nordhavn 62, Pendana.

Book preview

How To Gain Real Financial Independence

The Seven Golden Rules To Wealth

Dr James Ellingford

~~~

Smashwords Edition

Copyright © 2008 Dr James Ellingford. All rights reserved.

Smashwords Edition, License Notes

This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

PO Box 3464

Dural NSW 2158

AUSTRALIA

PRINT ISBN: 1-4392-1453-0

PRINT ISBN-13: 9781439214534

To order additional copies, visit

www.drjamesellingford.com

or your local book store

About the Author

James Ellingford happily retired at the age of 42 with the time he needs to do what he wants to do and when he wants to do it. He retired so that he could pursue his dream of helping others, educate the public in relation to investments and perhaps, more importantly, to spend more time with his family and friends.

James Ellingford’s professional life culminated in being head of a billion dollar business based in Geneva, Switzerland. It was during this time that James learnt again, first hand, the lessons that would prove so useful in focusing his attention, time and effort for what was to come.

James Ellingford’s hard hitting, straight to the point management style not only earned him respect and trust from his peers but also undoubtedly caused its usual share of upsets along the way.

He holds a Post Graduate in Corporate Management, Masters in Business Administration as well as a Doctorate in Management. He is not only more than qualified to discuss the theory and practice surrounding investments but also more than capable of delivering the information in a provocative, direct and albeit sometimes controversial manner - to enable those of us with even little or no knowledge of the stock market - to be able to take control of our own financial future - and succeed! Love him or hate him, one thing is for sure, you won’t forget what he has to say.

Special Thanks

There are a few people whom I would like to thank, for without their support this book would not have been possible.

Firstly, I would like to thank someone who gave freely of his time and asked for nothing in return. Peter Thornhill is that person for me, that one special person who was able to succinctly articulate what I thought I knew and more importantly gave me the confidence to act. Thank you, Peter.

I also want to thank my wife Claire who provided encouragement at every turn. She has shown me total trust and kindness throughout our journey together and I am blessed to have found such a wonderful human being. Thank you.

Without these two very special people none of this would have been possible.

Table of Contents

ABOUT THE AUTHOR

SPECIAL THANKS

FOREWORD

BACKGROUND

-- My Early Years

-- My Twenties

-- Changing Values

THE STORIES THAT STICK

-- The River

-- The Daffodil Principle

PLANNING: THE KEY TO EVERYTHING

HOW TO CREATE THE LIFE PLAN

FROM LIFE PLAN TO FINANCE

-- The Share Market

-- Investment Time Horizon

-- The Importance of Two Dimensional Assets

-- The Real Difference between Assets and Liabilities

WHY RETIREES GET POORER AND POORER

WHICH SHARES TO BUY

WHY EVERYONE’S AN EXPERT

WHEN SHOULD ONE START INVESTING

BRINGING IT ALL TOGETHER

-- Rule #1

-- Rule #2

-- Rule #3

-- Rule #4

-- Rule #5

-- Rule #6

-- Rule #7

IN CLOSING

LIST OF REFERENCES

ORDER FORM

Foreword

In my late teens, I started to question more and more the concepts of time, money and the different investment options which were available. Over that time I became more and more frustrated by the lack of clarity, truthfulness and sometimes outright morally incomprehensible behaviour of the financial and investment markets. As such, I have written this book so that you can gain a clear understanding of how things really are.

Over the past years I have been fortunate enough to help many people learn the value of time and what time can create in terms of one’s own financial security. I have also spent much of my time recanting the same stories time and time again to people who genuinely seemed interested in listening and who always came back and asked for more.

Over the past few years, in particular, I have been continually encouraged to write down what I know and it is for this reason that I wrote this book. I hope that this book acts as a conduit by providing a wider audience with some of the missing pieces.

My hope is, that in the years to come there is far more financial education available to a much wider audience and that this education is delivered in a far more holistic approach rather than the traditional asset versus liability model that simply misses the point. Financial goals are simply one small part of the overall picture and by ignoring the balance i.e. the person, their hopes, dreams and ambitions for the future, is to miss the point altogether.

Background

I am not interested in writing yet another mellow book on ‘how to’ without providing a clear framework of how to achieve your goals. I am also going to make the consequences for inaction crystal clear. Often people recant what others have said in a way that is supposed to make the speaker sound more intelligent than they really are. People repeat stories in a way that makes the receiver believe that the message is one hundred percent fact. People in general have a fundamental flaw of believing what