Title: SimplyMutual: The 1% Formula
Author: Deepak Mullick
Publisher: Notion Press
Genre: Business, Strategy and Analysis
First Publication: 2021
Book Summary: SimplyMutual: The 1% Formula by Deepak Mullick
Discover the power of your own money, with SimplyMutual: The 1% formula to gain your financial freedom
Why do you earn money? Is it just to add to those numbers in your bank? NO!
Money should be able to help you live the life you desire. But most people never build enough wealth to gain financial freedom.
Don’t let that happen to you!
In this book, investment veteran Deepak Mullick reveals his simple-yet-effective formula to make your money work for you!
Want to escape the rat race, travel the world, or retire in your 40s with comfortable assets under your belt? SimplyMutual is your key to unlocking the 1% formula and gain your financial freedom.
With SimplyMutual you can learn how to:
- Retire in your 40s with a sizable corpus that provides you with a salary–pension that supports your lifestyle
- Free yourself from financial anxiety, fear, and corporate slavery to live the life you always wanted, now, and in the future
- Cultivate wealth-building as a second nature, embedding it into the very core of your psyche
- Make financial decisions based on facts, not emotions
- Make the most of the India opportunity and invest in equity for long term gains while beating volatility
Deepak takes you on a well-researched journey that demystifies equity investing with examples across everyday life.
SimplyMutual has everything you need to know about building wealth through equity investing. A must read for everyone!
Book Review: SimplyMutual: The 1% Formula by Deepak Mullick
Investment is like a water in the river. It will continue to flow as long as there will be no blockage on its way. It can become big or become smaller but it always depend on what canal or tunnel it passes through. Or maybe it might goes to the sea or ocean perhaps.
SimplyMutual was an informative, interesting and ultimately extremely valuable book for anyone interested in building wealth for retirement by investing in mutual funds. In this straightforward book, explained with easy-to-understand examples, investment veteran Deepak Mullick provides a solid framework for investors to begin to answer some of the questions that always comes to our mind while thinking of investing our money.
Instead of immediately offering advice on how to invest, Deepak Mullick takes a step back and makes sure you understand market theory, the history of the markets, the role of psychology in choosing investments, and the very real impact of expenses and the media’s influence.
The book contains statistics, tables, graphs, analogies, examples, and theory in a decently proportioned mix; my eyes never glazed over because of too many numbers. All this background information ensures that your investment decisions will be based on a wealth of data, rather than blindly following anyone’s recommendations.
In my view, market timing and rapid turnover—both by and for mutual fund investors—betray both a lack of understanding of the economics of investing and an infatuation with the process of investing. No matter what fund style you seek, you should emphasize low-cost funds and eschew high-cost funds. And, for the best bet of all, you should consider indexing in whichever style category you want to include.
There are a few elements to this book that help make it even better. The author gives some very practical and very granular advice concerning investment. Every chapter helps the reader understand different aspects of investing that are worth paying attention to. The author includes many charts and some attempts to change the way people think about risk and the connection between a given mutual fund and an index that would help an investor know certain key aspects about the funds they might invest in.
A recommended read in the areas of investing. I highly recommend this book to anyone beginning to think about investing.