Investing can be emotional. But if you take a closer look at the numbers, this may be just what you need to confidently move forward with your investment strategy.
Nick Magguilli walks readers through a two-part book that provides sound savings and investment strategies backed by extensive data. The first part of the book focuses on savings strategies (and some conversations about debt), and the second part of the book is all about investing — with a big focus on mindset.
Let’s dive in.
Learn where to start when it comes to saving moneyUnderstanding basic savings and investing strategiesHow to build wealth by investing over time
What is it just about to keep buying everything?
Just Keep Buying wants to help you find the reasons to continuously build your investment portfolio.
Readers looking to invest will find this book incredibly helpful, especially as it provides guidelines and strategies to help you prepare your finances before getting into investing.
Let’s take a closer look at what each chapter covers.
Chapter summary
Each chapter is relatively short and gives you both a story and some practical advice. Let’s take a closer look at what you get in this book.
If you are unsure about the topics, here are some quick thoughts on each section.
Where do you start?
Maggiulli starts the book by helping you decide where to start: save or invest. With some useful examples, he illustrates where your financial priorities might lie.
An honest look at this chapter will help you decide whether you should focus on saving or investing for now.
How much should you save?
Saving money is a fundamental part of a bright financial future. Maggiulli shares thoughtful advice on how much you should save, backed up with plenty of facts.
You will leave this chapter feeling better about your savings needs.
How can you save more?
In this chapter you will no longer hear a lecture about cutting back on coffee. You will find a detailed explanation of how you can save more. But instead of the traditional focus on a budget, Maggiulli tackles the idea of increasing your income to save money.
How to Spend Money Without Debt
If you feel guilty about spending your hard-earned money, this chapter is for you. It offers practical tips to help you spend the money you saved so hard without feeling guilty.
How Much Lifestyle Creep Is Okay?
Lifestyle creep is a hot topic in the personal finance community. Maggiulli breaks down the numbers to help you understand how much you should be saving. And how much lifestyle creep is okay.
Should you ever get into debt?
The question of whether you should go into debt for whatever reason is a tricky one. Maggiulli shares some insightful suggestions, backed up with extensive data.
This also hits a hot-button issue for us – should you take out student debt to pay for your studies. Again, Maggiulli is bringing the numbers up to back up what he believes could be a good use of debt.
Should you rent or should you buy?
Housing is a significant part of any budget. But deciding to buy or rent can make a big difference.
This chapter outlines all the reasons to buy a home – or not.
Related: Here’s our take on whether you should buy a home vs. renting.
How to save for a down payment (and other big purchases)
By optimizing your savings strategy, you can reach your financial goals faster. Maggiulli sets out the options for saving vehicles. This chapter will help you decide which vehicle is best for you.
When can you retire?
Retiring is the ultimate financial goal for many. You will receive a thorough overview of the finances of your pension. But Magguilli will also encourage you to look beyond the numbers before deciding to retire.
When should you invest?
This chapter kicks off the second half of the book, which focuses on investing. Maggiulli outlines some compelling reasons why investing is an important part of your financial future.
A few reasons he dives into include inflation and replacing your human capital with financial capital.
What should you invest in?
Investing is not one size fits all. And with that, Magguilli’s advice is not limited to a single option. He shares ideas about how and why you might want to invest in stocks, bonds, real estate, farmland, small business, royalties, or your own projects.
Why You Shouldn’t Buy Individual Stocks
Many financial experts warn you against buying individual stocks, and Magguilli agrees. He gives a real-life example and dives into the details of why this is usually a bad choice.
How soon should you invest?
This chapter provides detailed advice on investment strategies. The analysis focuses on the method of average-in versus buy-in at once.
Magguilli packs this chapter with plenty of data to back up his advice. You will find more information about strategy and risk.
Why you shouldn’t wait to buy the dip
As an investor, it is so tempting to try to time the market. Emotions can run high on a dip, making you more likely to try market timing.
But Magguilli argues that buying the dip won’t always work in your favor. Instead, consistently buying when you can is the best way to go. This makes for an engaging chapter with clearly outlined data to back it up.
Why investing depends on luck
Luck is in some ways linked to investing. Rather than ignore that fact, Magguilli sheds some light on the link between luck and investing.
He also shares some strategies to gain more control.
Why you shouldn’t be afraid of volatility
Anyone looking to invest in the stock market recommends Magguilli be aware of its inherent volatility. As you build your investment portfolio, market volatility is something to keep in mind.
He shares some practical advice on how to build a portfolio in the face of inevitable volatility.
How to buy during a crisis?
Market crashes are rare. When a major crisis leads to a sharply declining market, now may seem like the worst time to buy. But Magguilli says otherwise.
He explains why purchasing in a crisis is a smart move. Plus, how to overcome the fear of buying in a crisis. And of course he dives into the numbers to back up his claims.
When should you sell?
At some point you have to sell your investments. Whether you want to restore your balance or simply use the capital to run your life, there are some strategies you can use for the most efficient selling process.
Magguilli offers an alternative that avoids the need to sell if you rebalance during the accumulation phase.
Where should you invest?
It can be difficult to determine which type of investment account is best for you. Investing in taxable versus non-taxable accounts can make a difference in your investment strategy. Magguilli explains all options in detail for you so that you can make the best decision for yourself.
Why you will never feel rich
If you want to invest for a better financial future, you probably want to build your wealth. But even as your wealth grows, you will probably never feel really rich.
Magguilli writes about this probability – and how to put things in perspective.
The most important asset
You may not believe it, but your investment portfolio is not your most important asset. This chapter serves to keep an eye on the bigger picture.
Just keep following the buying rules
This final chapter provides a high-level overview of the book’s key points. The rules are clearly outlined as a useful takeaway that you can look back on as you move forward with ease.
About Nick Magguilli
Nick Magguilli founded Of Data and Dollars in 2017. Since then, he regularly provides sound investment advice based on significant data. His website is featured on our own list of the best investment blogs to follow.
He has an accessible writing style that breaks down complex investment strategies into actionable advice. He is also incredibly active on Twitter and provides great investment data points.
Who should read, just keep buying
Just Keep Buying provides insightful investment and savings advice backed by a lot of research. If you enjoy diving into the numbers, then you will really enjoy this book.
Even if you’re not quite ready to invest yet, but want to in the near future, here are helpful strategies to increase your savings and prepare to dive into the world of investing.
Final Thoughts
Just Keep Buying is an easy-to-read book full of thoughtful stories and chock-full of data supporting Magguilli’s investment advice.
With 296 pages of useful information, I would recommend this book to anyone looking to build an investment portfolio.
This post Just Keep Buying By Nick Maggiulli Book Review
was original published at “https://thecollegeinvestor.com/39606/just-keep-buying-by-nick-maggiulli-book-review/”
