Book Review: In 7 years the 1st million
This is my review of the book: The road to financial freedom" by Bodo Schäfer. I read or did listen to the German version of it: "Der Weg zur finanziellen Freiheit". But I trust that the translator put the same content in the English version. So, it applies to this one as well.
My name is Klaus Forster. I'm not in a business relationship with Bodo Schäfer. I just want to share my experience with this book, and how it turned out for me. I think it was in 2008 when I got hold of the first copy of that book.
And together with my girlfriend, we went on a vacation to Egypt. And we sat in the hammock listening to the story in the book, and the chapters and learned about money.
And we realized that we had no beneficial thoughts and opinions about money which avoided us to become wealthy. We got around, she was self-employed and I was employed as an employee. But I was not happy with that situation in my job. I rather felt like a victim and like a slave.
During that time, I also went through my divorce. And so, this was a mentally quite challenging time. Of course, a divorce ... if you know the legal situation in Germany, that costs a lot of money.
But reading the book and applying the recommendations, which wasn't easy at the beginning. Because for example, saving 10% of your income seems to be almost impossible. But well, I tried it out. It was challenging at the beginning.
But after a while, Bodo Schäfer was right: You don't even realize it anymore that you put 10% of your income away right at beginning of the month!
So, about three years later, my assets rose by 30%, after I paid the cost of living. 30% growth in assets isn't is not bad. And also, he explains in that book quite well, how to calculate the value of assets you got. What is an asset, which we should take under consideration, and what isn't?
For example, your car or the flat which you own and where you live yourself ... is not! And just things like that, create over time a different awareness. About two years after I got the book, I stopped working as an employee and started my own business. It already transformed me from an employee into an entrepreneur.
Well, it was a start of an amazing journey. To be honest: I turned into a seminar junkie. I kept visiting four to six seminars a year, to develop further and to learn more. About how to run and grow a business, and to do personal development work. And I loved it. It was so much fun!
In 2012 I started with the coaching letters from Bodo Schäfer. And they gave me another kick! Well, a kick is not the right word. It's a frequent reminder of the content of the book: "The way to financial freedom".
That helps a lot because otherwise you get lazy and fall back into old habits. But this reminder is so valuable, and that's why I love that program.
Between 2012 and 2016 I grew my assets by 50%. In 2016 I was already financially secure. This means: For a basic lifestyle, I was able to live just in the interest of my assets. And since that, I keep working on it. Finally, in 2019 I sold my business and left it behind.
Since then, I'm an investor. So, I went through the next transformation: From being an entrepreneur, becoming a business owner, and turning into an investor. And now, time and money work for me.
That's a wonderful story. I love it and I need to say thank you very much for the initial kick and all of the guidance I got from Bodo Schäfer. I only can recommend that book to make your way to abundance, wealth, and financial freedom!
If you do not have your own copy yet, you may order it here:
E-Book Preview: The Road to Financial Freedom - Bodo Schäfer (PDF-Download)
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