cover image Wealth Your Way: A Simple Path to Financial Freedom

Wealth Your Way: A Simple Path to Financial Freedom

Cosmo P. DeStefano. Houndstooth, $13.99 trade paper (236p) ISBN 978-1-5445-2984-4

This thorough debut from retired CPA DeStefano explains how to achieve financial independence. DeStefano’s core advice boils down to setting realistic goals, balancing risk and return, and periodically reviewing one’s progress. Planning is crucial, he contends, suggesting that readers map out how they plan to spend over the course of their lifetimes so they can best gauge if they’re on track to meet their goals. “Monthly contributions are the single most important tool in your investment toolbox,” he posits, illustrating the importance of investing early by noting that Warren Buffett, who started investing at age 10, saw 96% of his fortune accumulate after his 60th birthday. Exhorting readers to “do nothing” during market turbulence, the author asserts that timing the market “is a fool’s errand” and that it’s important to know the history of markets so readers can better recognize economic bubbles. When one is ready to live off one’s investments, he recommends following the 4% rule, or taking 4% out of one’s portfolio per year. He concludes with a list of index fund suggestions to help beginners get started. DeStefano’s scope is comprehensive but his straightforward style never intimidates. Those who want to invest for their future but don’t know how to start would do well to check this out. (Self-published)