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Simple Wealth, Inevitable Wealth, Revised Edition

4.28  ·  Rating details ·  511 ratings  ·  77 reviews
The wealth-building process described in this book is simple, but it isn't easy. But if you can muster the required amounts of faith, patience and discipline - and if you can draw those qualities from your advisor when your own are running low - history suggests that wealth follows over time. ...more
Hardcover, 185 pages
Published January 1st 2004 by The Nick Murray Company
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Average rating 4.28  · 
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Mar 18, 2017 rated it really liked it
Shelves: money
Joint review of:

The 5 Mistakes Every Investor Makes And How To Avoid Them - Peter Mallouk
Simple Wealth, Inevitable Wealth - Nick Murray

If TLDR, investment advice for dummies: Dollar-cost average (buy $x every month) into index funds (e.g. VTSAX). "Forget the needle, buy the haystack." - Jack Bogle

Two KISS books about investing recommended to me by a Certified Financial Planner. I read them in an effort to figure out what exactly CFPs do for one percent a year. I still don't know (and I suspect t
Jul 18, 2009 rated it really liked it
A homework assignment from our financial planner. The message is: build wealth by being an owner (i.e. owning stock via regular investing in a diversified suite of mutual funds) not a loaner (investing in bonds). Get a good financial planner who will keep you on the program and help you avoid short term panic. And avoid "tweaking" your portfolio, where tweaking is ([I love this definition:]: "a very precise technical investment term which translates 'Tear off one of its legs and try to beat the ...more
Apr 18, 2020 rated it it was amazing
Shelves: economics
Awesome book if you are new to investing. It boils down the most important theories into an easy and entertaining read.

This is a book you want to read 2-3 times in your life.
Haydn Martin
Jan 13, 2021 rated it it was ok
This book should have been 1 paragraph, not a book.

Actually, a paragraph would be too long. A (long) sentence would be better: stocks are likely to have a higher total return than bonds over the long-run because they have done historically and people should get a financial adviser because they don't know enough and are not psychologically capable of managing their investments.

This statement I largely agree with (despite the customary over-reliance on historicism that plagues nearly all financial
Dec 30, 2020 rated it really liked it
Investing for dummies. Nick Murray offers a solid lesson in the fundamentals of wealth creation that is helpful for those of us that never really thought about investing until we thought about retirement. tl;dr : Being an owner is better than being a lender (aka buy equity not bonds), Hire a financial adviser that prevents you from making emotional selling decisions (aka do nothing when markets turn), Dollar average your way through mutual equity funds (invest savings regularly and periodically ...more
Jan 31, 2018 rated it it was amazing
When your financial planner mails you a book with a page-long inscription on the inside cover that amounts to "read this every year" you read it.

Paul Schmidt
Mar 06, 2021 rated it really liked it
Recommended by D. Murphy. Solid advice for the person looking to get into investing by finding a financial advisor and working with them. Major takeaways: owning (stocks) is by nature more lucrative than lending (bonds) since returns aren’t capped, you aren’t losing money if you choose not to sell, the difference between currency and money, four behavioral tactics for investing, the young might not have more money but they have time (and compounding makes that more valuable), the value of dollar ...more
Tyler Redman
Apr 27, 2018 rated it really liked it
Simple wealth inevitable wealth is a good book. It has a general idea or philosophy on investing based on Jeremy Siegels "Stocks for the Long run" mixed with his own life experience as a financial advisor Nicky Murray really simplifies stock investing to raw easy to understand habits. Accepting that you will take losses and convincing you not everyone cant beat the market through buying and selling, but through long term investing with a diversified portfolio and of course with a financial advis ...more
Feb 05, 2009 rated it it was amazing
Everyone should read if they are at all concerned about their retirement. Nick Murray is known as the financial advisor to financial advisors, so he's been around the block a time or two. He lays out with boldness and wit and humor the only way to have enough money to one day retire with money to live off of and leave to our kids and their kids. We all know that social security (or CPP in Canada) won't be around when were old and tired of working (hopefully that will be on our time table and not ...more
Jason Green
Jan 10, 2012 rated it it was amazing
Shelves: non-fiction
It's a simple plan, just not easy to execute. Why? Because we're human with emotions that often get the best of us. So find a coach/advisor to help you set up and execute your plan and to keep you on track when emotion starts to creep in to your decision making process. ...more
Aug 17, 2013 rated it really liked it
Quick and easy read to help jump start your financial success via investments. Simple and to the point. Hire a financial advisor. Invest in stocks. Don't freak out. Enjoy future wealth. There's a bit more to it, but that's the overall premise. ...more
Jun 25, 2008 rated it it was amazing
I'm big into being financially responsible, secure, you name it. This book is a must read if you want to retire with lots of money:) ...more
Steve Coscia
Dec 29, 2009 rated it liked it
My CFP advised me to read this book. I am glad I did. Two key points about working with a CFP: They must be someone you both like and trust.

Sep 25, 2012 rated it did not like it
Incredibly dry and just kept repeating the same thing over and over!
Alice De Schutter
May 22, 2018 rated it it was amazing
Shelves: favorites
In “Simple Wealth, Inevitable Wealth”, Nick Murray presents a simple plan for building real wealth – “an income one doesn’t outlive and a significant legacy to one’s heirs”. These are the most important points I have taken from the book:

You can build and preserve wealth through a program of lifetime equity investing:

- Why equities over bonds?
The real long-term return of equities is so much greater than bonds. When you invest in stocks, you’re an owner of businesses. When you invest in bonds, you
Jan 25, 2017 rated it really liked it
I stole this from my mom over break, after meeting her financial advisors and promptly panicking that probably going to grad school wasn't a "lucrative" life-choice.

Anyway I come from a super privileged (checking that privilege!) family and have never much wanted for things (well, except a pool) but I've never felt a really great understanding of money. Now that I'm an adult or something, it's probably good to at least have some vague understanding of financial responsibility.

The point is, this
Sep 03, 2020 rated it it was amazing
Shelves: investing
This book is, by its own admission, a thesis for the advantages of hiring a financial advisor. I am not a financial advisor, nor do I employ one, but I am so glad that I read this book. If nothing else, the reader comes away with a well founded optimism in our economy and in the world in general. Optimism is the only realism, as the subtitle of his final chapter reads.

This is a great introductory read to the world of investing. It covers the very basics of establishing strategy, the common mista
Mar 15, 2017 rated it liked it
Poorly written, repetitive, and didactic. That said, Murray's not wrong about the simple advice he offers which can be summed up as: investing is about behavior, to save for retirement you should simply own ~5 different sectors (large cap growth, lc value, small cap growth, sc value, and international) of mutual funds, invest the same amount each month to take advantage of investing more in down markets (dollar cost averaging), and then do nothing since you're usually your own worst enemy. Murra ...more
Aug 29, 2019 rated it did not like it
It is that time for me to revisit some fundamentals. This is the 20th Anniversary Edition of this book that was just released.

Oh, how could I have convinced so many of my participants that their 401(k) is not a convenient way to save for that large screen TV. Many treated it like a Christmas Club and thus paying taxes and penalties joyfully.

Speaking with the caretaker of the largest database of 401(k) investments, tells us that we are riding into the future with little thought. Someone else will
Jan 29, 2019 rated it it was amazing
This review has been hidden because it contains spoilers. To view it, click here.
Jan 05, 2021 rated it really liked it
This review has been hidden because it contains spoilers. To view it, click here.
Oct 13, 2017 rated it it was amazing
Great read on how to build and keep wealth for generations to come. While reading through I can definitely see how many of the eight mistakes I have fallen to. The book is very informative and definitely hits the point and drills down the teachings very well. Recommend this book to everyone who has ever held a mutual stock or individual stock.
Jul 12, 2019 rated it it was amazing
Shelves: money
Simply invest in stocks when you’re young and stay with the plan. You will have millions when you’re older. This book drives the point home in convincing fashion. No bonds just stocks. It was written a while ago so he suggest mutual funds- an update for today would be low-cost index funds or ETFs. If you want buy it, go directly to the author’s website for the best price.
Jairo Munoz
Feb 09, 2021 rated it really liked it
Excellent description by an expert financial advisor on how to create wealth, which is not the same as becoming reach. As the author describes “wealth is the absence of financia worry, an income you do not outlive, and a meaningful legacy to those whose you love.”
Simple and straightforward approach... if you are focused, disciplined and manage your impulses (behavior).
Christian Stewart
Jul 24, 2017 rated it really liked it
Very easy to understand book. I like that he takes the time to explain a basic investment strategy. The major takeaway is to work with a high quality professional, because it's investor behavior and not investment returns that dictate whether we become wealthy. ...more
Nov 17, 2017 rated it it was amazing
This probably shouldn’t be the first book you read on the subject of investing, but I think it’s probably one of the best you can’t get for a start. Simple, short, concise and makes an excellent point for equities investing and why a financial planner/advisor is worth the fee.
Sep 27, 2018 rated it it was amazing
A quick and excellent read on the long term value of equity investing. It provides a simplified (although not entirely simple) explanation of investments with a long term approach for anyone planning for their financial future.
Nov 15, 2018 rated it it was amazing  ·  review of another edition
This is a great book. Murray makes his case clearly and simply. There's very little in this book to disagree with. Most importantly, "Simple Wealth, Inevitable Wealth" is a refreshing antidote to the prevailing nonsense of CAPM and Modern Portfolio Theory. ...more
Eli Pollack
Dec 19, 2018 rated it it was ok
I read the edition published 1999 so while his basic theory is fine (or at least I agree with it) the numbers and the assumptions about time and amounts are, I think, pretty far off.
The editions listed are are the 2004 and 2008 so hopefully the numbers have been adjusted and are more realistic.
Dec 31, 2018 rated it it was amazing
Good investment philosophy. First-time investors would be well served to read and follow SWIW, and any seasoned investors looking to understand why their portfolios have under-performed could do with a refresher on the philosophy clearly communicated by Murray.
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