Gain Your Financial Freedom with the 1% Formula
Author: Deepak Mullick
Genre: Finance
Published by Rupa Publications
Pages: 200
MRP: Rs. 295/=
Thank you @rupa_publications for a review copy of the book.
In his enlightening book, "Gain Your Financial Freedom with the 1% Formula," Deepak
Mullick ventures into the crucial realm of financial independence, a concept that resonates
with individuals navigating the complexities of adulthood, self-sufficiency, and family
responsibilities. The pursuit of financial freedom, an ever-trending aspiration, is not merely a
desire but an indispensable component for a content and fulfilling life. Mullick, the author,
undertakes the ambitious task of unravelling the intricacies surrounding this topic, offering
insights and answers to the myriad questions that often plague those seeking financial
emancipation.
Mullick's narrative unfolds across ten comprehensive chapters, each contributing to the
reader's understanding of the 1% formula and its potential to liberate one from the shackles
of financial constraints. The journey commences with the author sharing his personal story, a
narrative that paints a vivid picture of Mullick's triumph over financial burdens, achieved at
the age of 45. This personal touch establishes a relatable foundation for readers, setting the
tone for the practical wisdom that follows.
The second chapter challenges the preconceived notion that financial success is reserved
for financial wizards or those deeply entrenched in intricate financial instruments. Mullick
asserts that a fundamental understanding of financial principles, coupled with a disciplined
approach, is the key to achieving one's financial goals. This refreshing perspective
demystifies the intimidating facade of financial success, making it accessible to a broader
audience.
As Mullick delves deeper into the intricacies of financial freedom, he addresses the
importance of decoding the share market in the third chapter. Here, the author not only
imparts knowledge about the stock market but also delves into the reader's psychological
state, exploring the critical role of a positive money mindset. This psychological shift
becomes a pivotal component of Mullick's approach, emphasising the symbiotic relationship
between financial discipline and mental well-being.
The subsequent chapters navigate through various aspects of life that impact financial
freedom, from housing and living costs to dietary habits and lifestyle choices. Mullick
emphasises the simplicity of his formula while highlighting the necessity of discipline, control
over one's mind, intuition, and attention to detail. The clarity in his explanations makes the
complex subject matter accessible to readers at various stages of their financial journey.
The heart of Mullick's methodology is unveiled in the sixth chapter, where he expounds upon
the 1% formula. Despite its simplicity, Mullick stresses the importance of a disciplined
approach and underscores the need for individuals to tailor the formula to their specific
needs. The seventh chapter further solidifies this personalised approach, recognizing the
diverse financial goals individuals may have, whether saving for a wedding, education,
retirement, or navigating the uncertain terrain of a student contemplating their future.
A note of caution is sounded in the eighth chapter, where Mullick addresses the significance
of diversification, buffering, and emergency funds. This prudent advice ensures a safe and
comprehensive strategy for achieving financial freedom. The penultimate chapter concludes
Mullick's insightful journey with the "10 Commandments of Wealth Building," encapsulating
the essence of his financial philosophy.
In conclusion, "Gain Your Financial Freedom with the 1% Formula" is a commendable guide
for those seeking a pragmatic approach to financial independence. Deepak Mullick's
conversational and easily digestible style, coupled with real-world examples and personal
anecdotes, makes this book an invaluable resource. Whether you are a seasoned investor
or a novice in financial matters, Mullick's 1% formula offers a beacon of hope and practicality
in the pursuit of a financially liberated and fulfilled life.
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