Is there a reason to write a book about finances and investing? With numerous books on finances and half the adult population financially illiterate, how can another book help? These two questions bring about the two main questions requiring a response: 1) Why write a book about investing? 2) Who is the target audience?
What makes my book different? Answering the “why” question will tell you. I have read many books and watched many YouTube videos. A few days ago, I saw one that said you will not be rich. The narrator did a fine job presenting his idea. I heard him speaking in a manner similar to Warren Buffett.
Warren Buffett says to invest in index funds. Do you know why he says this? He invests in company stocks and not index funds, so doesn’t this make you wonder? The narrator of the video said you will not be rich. He then talked about other YouTubers. He said investing is boring. All of his points are worthy of understanding.
Before we begin, we need to define an influencer. This is where things are changing. The new norm is that of a social media influencer, which is someone who has the power to affect the purchasing decisions of others. They can do this because of his or her authority, such as a boss; their knowledge as being seen as an expert, such as a financial advisor; or their relationship with his or her audience, such as many YouTubers. It is amazing how those who used to be influencers, one who inspired or guided you into action, are becoming fewer.
The difference lies in the culprit of remaining poor – social. You pay and make them rich while you remain poor. Warren Buffett and Peter Lynch try to influence you in a way that you can become like the social media influencer or them and you refuse.
I am writing a book about investing, because the narrator said investing is boring.
“What!”, you exclaim. Then question, “Then why write a book?”
I agree investing is boring, but it is necessary to growing your wealth. On my YouTube channel, Financial Education with Louis, I tried to make investing interesting. This is where influencing comes into play. While the narrator also said that you will not be rich, I tried to show you that you can be rich. I understand his comment. I agree with it because we are not getting rich. He said you “will not” get rich. He did not say that you “could not” get rich.
Influencing takes both a positive and negative form. The video narrator may have been influencing in a negative way, but I do not se it that way. He was painting a common picture. WE are being influenced to spend money rather than invest.
It takes multiple videos to teach a topic. Unlike a book, it is harder to review previous material in a video, especially in a different video. A book co-locates all the material. My book will SHOW you how to get rich.
Why?
Who am I?
I will answer those questions in due time. Let me finish answering the “why write a book” question. No one can explain or show what has been happening in the stock market since January 2020. I have heard all the stories. I am hearing people offering stories and CLASSES that support Warren Buffett’s position of investing in index funds. Why would you pay money for a class in index fund investing? What type of investment is this? It is not an investment in yourself! On the other hand, being financially coached, even with index funds, can be an investment in yourself.
I understand Warren Buffett’s position. I have already helped a few or influenced a few people in their journey towards financial independence. We discussed stocks, not index funds, for generating the wealth. We discussed index funds for information. Index funds consist of stocks. Additionally, there are mutual funds that consist of stocks.
Do you know the difference? More importantly, do you know why Warren Buffett recommends index funds? If not, then how will a class help? You can lose money in index funds! My purpose of telling you this is not to dissuade you from investing, but to help you understand why the video narrator said you won’t get rich.
I influenced these people via discussions, not by my videos.
Growing tired of listening to the media discuss wealth gap, I thought a good book would help. Wealth gap is a choice. People think how much you earn determines one’s wealth. My book and all the other books will tell otherwise.
I tried writing my book for everyone. Authors will tell you that that is a no-no. I learned how correct they were. My manuscript is still written for everyone, but with a different style. The focus is on beginners and middle investors, while at the same time advocating for an effective K-12 curriculum. Money management is with us throughout our lives. This means the book can be used as a textbook, but not be boring.
Ask yourself one question. Ask yourself if you would like to change $25 into $1000 or would you rather spend $25 on a dinner. If you say, turn $25 into $1000, then what is next? Your answer to this question determines if you are investing in yourself and will get rich. The book will show the mid-level investor how to grow their money as well.
I will answer your questions and explain more as we go.
You can be rich! You can get rich investing in index funds. Did you know your results in index funds can be that of losing money? Do you know why?
Financial Education with Louis 