Monday, October 20, 2014

"Building a Financial Fortress," by Nick Reichert

Building a Financial Fortress: Lessons from the Great Recession for Savers and Investors, by Nick Reichert
Price: $2.99
181 pages, with a 5.0-star rating from 6 reviews

"This is a five star book packed with information for a successful financial life. You will find a wealth of information here from the stock market to bonds to Obama care to investments to even coupons. There was so much Thought provoking info. If you are thinking of investing in anything for security it's here. If you haven't thought about it, this book should be your first stop to building your financial fortress." -- Amazon reviewer

This book is a re-publication of a blog I started in the depths of the Great Recession in March 2011. During that time, as I agonized over investing, saving and potential job loss, I developed an investment philosophy I dubbed the “Financial Fortress” and wrote a series of posts about it along with other posts about specific asset classes, investment strategies and related topics.

My two biggest successes have been in real estate and precious metals. During the Great Recession, I made some aggressive moves, using retirement savings, to purchase distressed condominiums in Orange County, California. In addition to enjoying positive cash flow while I owned the properties, I have just completed one sale and have a second one in escrow, doubling my money in five years. I also made an aggressive move into silver (US Silver Eagle coins) to watch them triple in value, at which time I sold individual rolls on EBay and kept the rest for future appreciation.

The essence of the Financial Fortress is that as savers and investors, we need to first have a strong defense before we can have a strong offense. As volatility in world markets seems to worsen each year and booms/busts become more intense, preservation of capital is paramount but so is finding opportunities to leverage what we have in order to grow our wealth.

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Meet the Author

Nick Reichert was born in the San Francisco Bay area and grew up there and on the Island of Kaua'i in Hawai'i. He graduated from the University of Hawai'i at Manoa and started his career in public accounting at Arthur Andersen in 1991. A Certified Public Accountant, he has worked in the real estate industry for the past 12 years focusing on finance and accounting for all types of development activities.

http://www.buildingafinancialfortress.com

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