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Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity
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Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity

3.69  ·  Rating Details  ·  235 Ratings  ·  54 Reviews
Western culture is riddled with destructive myths about money and prosperity that are severely limiting individuals' power, creativity, and financial potential. In "Killing Sacred Cows," Gunderson boldly exposes ingrained fallacies and misguided traditions in the world of personal finance.
Hardcover, 270 pages
Published July 1st 2008 by Greenleaf Book Group (first published July 1st 2007)
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Oct 17, 2008 Chazzle rated it liked it  ·  review of another edition
Recommends it for: nonconformists
Recommended to Chazzle by: no one; called to me from a bookshelf
Really mixed feelings about this book. On the one hand, I really liked it because it had lots of interesting tidbits that "never make it to the scorecard", in other words, intangible reasons to consider factors much, much more important than the "almighty" dollar. And, of course, since the book has a myth-busting mentality, it spurs thinking.

On the other hand, at times the book gave me a headache, with almost cultish repetition of certain key phrases. It's almost as if the author is saying, "Don
Dec 01, 2010 Jennifer rated it did not like it
Shelves: personal-finance
I must admit that I didn't finish this book - it was hard to read. The quotes within the body of the text were distracting and the changes of margin widths were annoying. Besides the layout, I felt that this book is not for everyone. There was an emphasis on materialism and I felt that the author taught some things that were contrary to what church leaders have taught. I also thought the author was pushing his own agenda and think he probably sells whole or universal life insurance, which I am v ...more
Jun 12, 2012 Jeffrey rated it really liked it  ·  review of another edition
There are so many cultural and societal myths that boil just above the surface of truth waiting to be despoiled, yet few do the work to weed them out. They can be found in education, relationships, health, medicine, even finance. And here is where Sacred Cows comes in to save the day. What do you know about the 401k myth (or 403b, if public)? I know a LOT for I have been deceived. I have also first-hand seen my life suffer via the education, health, work, and finance myths. What do you know abou ...more
James Knowles
Sep 11, 2008 James Knowles rated it really liked it
Recommended to James by: Linda Anthony
I've listened to Garret Gunderson in person and on the radio quite a bit, so there was little there that was new. However, the material is excellent and bears consideration. The reason people struggle financially is because they're basing decisions on flawed ideas. You can' rise above the quality (good or bad) of the information you believe. This book cuts to the heart of the most common faulty beliefs about money in our age.

Stephen Palmer shows his talent for writing. I don't know where his vo
Feb 19, 2015 Swan rated it did not like it
I can see how an average person might be find this book to be a paradigm shifter as it's written with all sorts of economic buzzwords, both real and made-up. The basic premise is you can only count on yourself for financial success. 401ks, investments, etc are riskier than the financial industry wants you to believe. If you focus on wealth, you will always be poor. Focus on adding value to the world! Do what you love and the money will come! Focus on cash flow instead of savings! No, no and no. ...more
Mar 12, 2009 Rachel rated it really liked it  ·  review of another edition
Recommends it for: Everyone
Recommended to Rachel by: Brad
I really enjoyed this book because it not only taught me about finance but also about making a better life for myself and those around me. The author teaches that happiness = prosperity, not money! The other most influential concept of the book is to seek out our soul purpose in life and to always be investing in ourselves, with regard to our human life value. It was an uplifting book about a topic that can be such a drag.
Rayfes Mondal
Nov 21, 2014 Rayfes Mondal rated it it was ok
The author makes strong claims about 401ks being bad that don't hold up. His claim that even employer matches aren't what they are cracked up to be are wrong.

This is mostly a self-help book telling people to find their Soul Purpose and pursue that and that lives have meaning when we serve others. Nothing wrong with that but I was looking for hard economic data and life coaching.

The author falls into the camp of investing in rental properties to generate cash flow instead of saving for retirement
Sep 21, 2014 Janice rated it liked it
Shelves: 2014
This book has some very good points, such as life's ambition shouldn't be to accumulated money, but rather to enjoy living (responsibly) and to seek out things that create, or support creation, and not just consumption. Being able to perform our Soul Purpose is what will fulfill us. Living frugally in order so save money may rob us of a quality life, and doesn't save enough for us to stop living frugally.

So, while we should also work on finding our soul purpose in life, we shouldn't just borrow
William Sharpe
Apr 22, 2015 William Sharpe rated it liked it
Interesting book. I didn't necessarily agree with all the points but I like to read books on personal finance with which I don't find complete agreement in order to revisit my assumptions. His take on IRAs is not mainstream. Book is somewhat repetitious and new-agey (e.g. "Soul Purpose"). I agree with his main point however, which as I understand it, is that most people don't know what they want and, in such a mindset, a feeling of anxiety and scarcity reigns, making calm, rational decision maki ...more
James Davis
Feb 08, 2009 James Davis rated it it was amazing
This book is where I learned about the difference between producers and consumers. It motivated me to be a creator, a starter, and a producer of value. It reinforced my belief that when you strive to create value in the world that money will naturally follow.
Philip Athans
Aug 26, 2010 Philip Athans rated it it was amazing  ·  review of another edition
Immediately after finishing this book I turned off my 401(k) contribution and never looked back. And no, I don't believe everything I read.
Carolyn Amundson
Mar 21, 2015 Carolyn Amundson rated it liked it
Interesting ideas, but it's a little strong to say that it overcomes any financial myths. Basically, according to this book, you should do what you love (your Soul Purpose), dump the 401k, buy life and disability insurance, stop spending money on stupid stuff, and have rental property.

Notice that there's no plan for retirement. You'd better be successful with your Soul Purpose and rental property in perpetuity, because that insurance isn't going to help if your body and mind decline but you are
Tony Bradshaw
Jun 17, 2015 Tony Bradshaw rated it it was amazing
Gunderson's words echo many of my thoughts on money. I just ate up the portion about savers being the other side of the coins of über spenders so he clearly stated that people that are so stingy that they are smug about not spending. I am also impressed that he stated what he did about not investing in 401Ks and why. This is something I had already come to on my own. My favorite summary of a chapter is "the best and safest investments are those that align with our passions, knowledge, and abilit ...more
Diana Nagy
Jun 21, 2016 Diana Nagy rated it it was amazing
Okay...this book...its a must read. No joke. This book is the one financial book you need to read today and its the only financial book you'll ever need in regards to investing and saving. It's worth every penny, no matter if you paid 10 cents or 10 dollars. In fact, in my opinion, its worth thousands. Especially to those of you who have spent that amount in your 401K's. Not smart, people. Get out of the 401k. It isn't going to do for you what you are going to do for yourself with your money aft ...more
May 03, 2008 Myra rated it it was amazing
This book is a must read for anyone wanting to get grounded in becoming clear about what real wealth is. It became very apparent to me that although the author is working to debunk destructive myths about money, his main reason for doing so isn't about "money". To quote from the book:
"The very nature of human beings is greatness, but that greatness is more often than not overshadowed by mediocrity and fear. Much of our mediocrity and negative emotions originate through false and limiting socia
Jan 23, 2009 Richard rated it liked it
I thought I was going to enjoy this book more than I did. The first couple of chapters were stronger and more interesting than the rest, but that might just be me. The subtitle of this book is Overcoming the Financial Myths That Are Destroying Your Prosperity. I expected a lot of specifics, but really this book is more of a motivational book than anything else, or perhaps philosophical, and it is rather general in nature.

Gunderson goes on at length about finding and executing your Soul Purpose,
Christine Theberge Rafal
I liked thinking about the differences between focusing on my self as a producer who lives in an abundance paradigm versus as a consumer who would live in a scarcity paradigm. This book also distinguished between productive liabilities and debt, taking what I remember as Robert Kiyosaki's (_Rich Dad, Poor Dad_) distinction between assets and liabilities one step further. It got a little tiring to hear about Human Life Value and Soul Purpose over and over again. I don't think my Soul Purpose has ...more
Nov 28, 2014 LeeAnn rated it really liked it
Shelves: textbook, financial
Tis book is not a light, spend-less-than-you-earn type of book for those who need help with the basics. It is not a stock-picking guide. It is for the serious-minded person who wants to maximize their potential and change their life. Garrett Gunderson doesn't just topple paradigms; he smashes them with a sledgehammer. This book reads like a textbook in lots of places. I would recommend buying this book so you can thoroughly digest one chapter at a time or else plan on renewing it as many times a ...more
David Witty
Oct 02, 2011 David Witty rated it liked it
Most of the ideas Gunderson discusses in this book aren't all that new to most people who have done a little homework already. But, there are probably more people out there who haven't got a clue who would really benefit from this book. I did especially appreciate the chapters on insurance and debt. He has a very easy way of writing and puts almost all of his ideas into terms the lay person will understand. You'll also appreciate that his whole philosophy of gaining prosperity is not through get ...more
Jason West
Sep 19, 2015 Jason West rated it really liked it
I read this book after getting exposed to the Banking On Yourself; Infinite Banking concept.
It was really helpful to get a second opinion on this concept. I have utilized the recommendations in Killing Sacred Cows and am in a much better financial position because of it.
Great book - get ready to get frustrated with your financial education, i know I did.
I am grateful for the new horizons and new parameters.
Lynn Dorman, Ph.D.
Sep 19, 2015 Lynn Dorman, Ph.D. rated it liked it
Given that I had to renew the book a few times to finish it gives a clue that it did not hold my interest :)

I found many of the ideas interesting and different from what one reads or hears in "money/financial" writings, but the format and the repeating of phrases got to me - and not in a good way....
Sep 06, 2008 Loren rated it liked it  ·  review of another edition
Recommends it for: people looking for unconventional financial advice, entreperneurs.
I was attracted to the idea of a different approach to money-management than the usual savings route. Gunderson discusses how conventional thinking about saving and hoarding and handing your money over to experts is problematic at best, but doesn't spend much time on alternatives. He presents a candid view of the financial products industry and how it works to have you serve it, which is something I'm aware of, but don't really know what alternatives I have. I'd like Gunderson to give more solut ...more
Jun 16, 2009 Lori rated it it was ok
I skim-read this book (can you do anything else with these self-help type books?). Things I liked: principles of responsibility, productivity, and abundance. Things I didn't like: no examples that didn't include real estate or entrepreneurship, the term "Soul Purpose" (not that I could come up with a better term), and that it is basically a sales pitch for his consulting (not that I blame him for trying.) It did make me think about my retirement plan and consider doing something unusual instead ...more
Oct 05, 2008 Kellie rated it liked it  ·  review of another edition
Recommended to Kellie by: Garrett Gunderson
I am about half way through the book and I enjoy the concepts that Gunderson talks about - they follow in line with what I teach my clients. Much of his information is taken from other books I've read or comes from training we have all been too, but he has reformatted it and presented it in a new way. I get a little tired of the constant chatter about himself. Perhaps in the edited version coming out this summer that will be toned down. However, the content in the book is worth reading and shoul ...more
Apr 01, 2012 Troy rated it liked it
Shelves: business
What I liked about his book is that it challenges a lot of things you just believe and take for granted. For example he really spends a lot of time challenging the idea of a 401K and how you are giving your money away to something you have no control over. The best part for me was to not look at money but at value, when you buy something or when you invest in something what value are you creating. What I didn't like is he was a little bit dramatic for me and tried to be a little bit to sensation ...more
Jan 18, 2016 Adam rated it liked it
I finally finished this on a sick, restless night. It's solid information and a lot of it is very helpful to get someone into a right entrepreneurial mindset. But, the reading is a bit dense and superfluous. It takes away from the power of the message. I found myself even having trouble keeping notes because the writing would emphasize the why so much it obscured the what of the actual principle. I ended up skim reading and finding it nearly as effective as reading it straight. Solid advice and ...more
Aug 08, 2008 Russ rated it it was amazing
I have a different cover, but the book is awesome. Garrett and Stephen have done an excellent job in producing this book. I have found it very insightful and true. So far it has assisted me in being conscious of what I'm saying and thinking about money. How so many myths about money are still around that I've been taught and have believed at some point in my life. I love how the book talks about how to truly be prosperous by being a producer in society instead of a consumer. 5 Stars from me and ...more
David Peterson
Feb 14, 2014 David Peterson rated it really liked it
Shelves: books-i-own
Loved reading this book because it backed up a lot of my own ways of thinking or hunches about money. It really makes you stop and think about your own belief system about money and money institutions. I walked away from this book feeling more empowered in the way I will handle my money and my life's "Soul Purpose".
Jeremiah Stover
Jul 09, 2012 Jeremiah Stover rated it liked it
A entry level look at a handful of financial paradigms that cause most people trouble. The only significant problem I found was the chapter on insurance which needs to be processed through "Aftershock" by: David Wiedemer[return][return]The single most important chapter could well be the one describing the difference between price and value and how focusing exclusively on price will always hurt the buyer.
Sep 20, 2008 Anna rated it really liked it
This book is absolutely amazing. I met Garrett Gunderson the other day, and he is a very dynamic speaker! I love the way he thinks. This book takes you away from mainstream financial investing and gives you the tools needed to obtain true wealth. This book is not just about obtaining money, but really makes you reflect on who you are as an individual and helps you achieve your optimal potential!
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“Finding and living our Soul Purpose is the process of looking beyond our desires to see what people around us want and then providing it for them in such a way that it also provides us with the highest levels of joy and fulfillment.” 0 likes
“A ship in harbor is safe—but that is not what ships are for. —John A. Shedd” 0 likes
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