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1-Page Summary of Invested

Introduction

You would think that a lawyer’s salary would be enough to live comfortably, but Danielle Town proved otherwise. Even with her hard work and extensive education, she didn’t earn enough money to retire on.

A woman takes her father’s advice and decides to use a strategy that will allow her money to grow. She starts by learning how to invest in stocks, giving herself one year. The first month, she focuses on becoming more courageous so that she can take the plunge into investing. In February, she determines what amount of money is enough for her retirement; March focuses on voting with your dollars and choosing companies whose missions you believe in; April talks about finding companies whose values align with yours; May encourages readers to learn everything they can about their chosen company before buying stock; June deals with personal struggles around money management or lack thereof; July helps people understand how prices work when it comes to buying stock; August has people consider if the value of what they’re considering matches its price tag (or not); September forces investors to think critically about why they want something rather than just accepting it at face value (i.e., without thinking critically); October tells them what kinds of things are good investments because they’re antifragile—that is, they’ll be better off after a crisis than before one hits them (like gold); November asks if there’s ever a time when an investment should be sold even though no one expects this anytime soon (which means you have an obligation as an investor not only to know when this happens but also tell others who may own the same asset); December reminds us all that we’ve learned from our experiences as investors and urges us never forget where we came from.

January: Becoming Brave

The first month of the journey is about gathering the resolve it takes to begin. Danielle was exhausted at her job as a lawyer and at her wit’s end. Her father, Phil, had once offered to teach his daughter how he made money through investing, but she didn’t want to listen because she thought that it would be better if she learned from someone else or figured it out on her own. However, now that things were getting dire in terms of finances, Danielle decided to give his advice a try after all.

She was fine with her job until Phil told her that she didn’t actually have any choice. Danielle wanted to be financially free, so she needed to start making more money at work.

Phil started by drilling down on “Rule #1”: Don’t lose money. There are many ways to do that, including saving. Saving doesn’t sound like losing money, but it is because of inflation. The only way to prevent those losses is to invest instead of save because investments grow with inflation.

But how do you invest well? Phil takes his lead from Warren Buffet, who says to find a company that will be more valuable 10 years down the road. Buy it when its price is low and then wait for it to increase in value.

In January, you should write down what financial freedom means to you. What would be different if you were financially free? Would you have a new job? Would you volunteer somewhere or pay off your debts? If so, how would that make you feel? Be courageous enough to write down all of the things that would change for the better if money weren’t an issue.

February: Knowing Your Number

February is the month to start saving for retirement. The way you save money will be affected by how much interest you earn on it, and compounding helps your returns grow exponentially. If you invest $10 and get a 10% return, next year that investment will have earned another $1 in interest. That means if you put those earnings back into the investment, it’s now worth $11 instead of just $10—and that extra dollar has grown by 10 cents as well!