This week, The Simple Dollar is conducting a detailed review of Suze Orman’s The 9 Steps to Financial Freedom. This title has appeared on countless personal finance shelves over the past decade; does the content inside hold up? We aim to answer that very question.
Yesterday, we looked at the fourth, fifth, and sixth steps in The 9 Steps to Financial Freedom and discovered that they laid out a path to creating peace of mind by putting your finances in order in a way that increased your ability to trust yourself. Today, we’ll look at the final three steps that Suze recommends.
Step 7: Being open to receive all that you are meant to have.
This step focuses on the fact that money in and of itself doesn’t really bring happiness, but that happiness can bring money. Thus, money is merely a tool to bring about happiness.
Suze gives some solid advice here on the therapeutic effects of giving to charities, as well as the strong bromide that you should never let cash gifts interfere with family and friends. Yet much of this comes off as a contradiction, since most of the book up to this point focuses on how to balance your financial life and accumulate wealth.
Step 8: Understanding the ebb and flow of the money cycle.
This step is merely the realization of the fact that much good can come from the bad times in our lives, whether it be new opportunities or merely personal growth. Quite often, the mistakes one makes in life end up being the foundation for much greater things.
Step 9: Recognizing true wealth
The final step is the simple recognition that the truly valuable things in life are not monetary. It seems simple, but so many people overlook this fact. The most valuable thing in my life, for instance, is the smile of my son when I’m playing with him. It has no real financial value, but no amount of money can ever replicate that feeling.
The final three steps are quite short, but they are important in one fundamental way: the true path to wealth comes not from having enough money, but from having inner peace.
Tomorrow, in the final part of this five part series reviewing The 9 Steps to Financial Freedom, I’ll give a final judgement on this book: buy or don’t buy.
The 9 Steps to Financial Freedom is the second of fifty-two books in The Simple Dollar’s series 52 Personal Finance Books in 52 Weeks.