Today, the Canadian edition of my new “Novel Series” of e-books on Financial Independence launched on Amazon.com and Amazon.ca. You can see the full title and cover in the image to the left. Those who pre-ordered should already have it on their devices.
This is the first update to the original full novel published first in Canada in 2008, and the basis for this web site. However, it is a kind of workbook companion to the novel, and at 15,000 words much shorter.
The main body of the e-book is a chapter-by-chapter summary of the story, followed by the main lessons learned by the characters. Since it’s relatively short, the price is just C$3.37 or US$2.99. (A U.S. version of the e-book launched on Nov. 3rd.)
Remember Coles Notes?
Think of it as a “Coles Notes” (or in the U.S., Cliff Notes) for people who are more interested in the content on financial independence than the story. (Come on, admit it. Remember the time in high school when you didn’t bother to read King Lear and read only the Coles Notes version! And you still got a B!)
Or maybe you read the story once just for fun (Findependence Day, that is, not King Lear) and forgot to underline key passages containing financial lessons. This e-book is a quick refresher course and of course available on mobile devices that go where a physical book may not.
Aimed at educators, financial advisors, credit counsellors and parents
Apart from being a companion guide and refresher course for readers of the full novel, the e-books were designed for four main groups and their constituencies: teachers of finance, financial literacy or personal finance and their students; financial advisors and their clients; credit counsellors and their debt-encumbered clients; and finally parents and their children. The full books are meant to act as the “spoonful of sugar that makes the medicine go down,” the medicine being the financial lessons that have been highlighted in the short ebooks.
At its sites, Amazon provides a “Look Inside” feature that lets potential buyers sneak a free peek at the content. So you can see my new introduction, foreword and the first chapter summary. And of course, with Christmas just around the corner, Amazon also lets you specify the e-book as a gift. As you can see in our ad at the top of the new site at Findependence.TV, $3.37 is a small price to pay for something that could literally change a young person’s life. It takes just a minute to download and perhaps an hour to read.
Think that’s an exaggeration about being potentially life-changing? Read this article by a millennial who read the original novel and is now well on the way to becoming “findependent” (or at least mortgage free) by age 31.
Supplements the Novel
This ebook makes a good supplement to the novel, since it includes a few extras that were in the full U.S. edition of Findependence Day published in 2013. That includes a glossary that didn’t appear in the original Canadian novel, plus an updated bibliography of about 75 financial books from “Theo’s Kindle.” (Theo is one of two financial planner characters in the story). Most of those book listings have live links to the actual books at Amazon.
Some readers tell me they don’t own a Kindle. That doesn’t mean you can’t read these ebooks on other devices. Amazon provides a free Kindle App that lets you read Kindle ebooks on devices like the Apple iPhone and iPad, as well as the various Kindle e-readers made by Amazon.
While the U.S. edition of the full novel was available in paperback and hard cover and all e-book formats, including both Kindle and all the rest, there is still no Kindle version of the full Canadian novel. That may happen in 2015 but for those who have asked for it, we hope this new e-book is a start. And of course, it has been revised to stay current.
On Tuesday, Amazon Kindle Digital Publishing released the first of my two new e-books, entitled A Novel Approach to Financial Independence.
These are not brand new projects but are short (15,000 words) summaries of Findependence Day (the financial novels shown on the right) and priced accordingly. First out is the U.S. e-book. A Canadian edition will be available next Thursday, Nov. 13 (date moved up from Nov. 24) but can be preordered now. Amazon’s “Look Inside” feature lets you read the forward, my new introduction and the first two chapters free.
Companion guide serves as teaching tools to full novel
The purpose of the new e-books is to act as a teaching tool or companion guide to accompany the full novels. Thus, they are aimed primarily at three groups: financial advisers working with individual investors; teachers of personal finance or financial literacy who work with students; and finally parents, who may want to use the full-length book to teach their children or relatives the basic principles of financial literacy or findependence.
The ebooks are priced at US$2.99 or C$3.37 (the minimum amount you can charge at Amazon and still qualify for maximum author royalties). (Note the Kindle version of the full U.S. edition costs $7.09 but sells for less on other e-book platforms, primarily through Trafford.com, Amazon.com and Barnes & Noble.com.)
Financial focus, but includes short plot summaries
The focus of the e-books is less on the story or novel, and more on the underlying financial principles. However, it does include short plot summaries of each chapter. It also summarizes in bullet point form the financial lessons associated with each chapter. (These end-of-chapter recaps already appear in the full U.S. edition and e-book but not in the original Canadian edition.)
The new e-books also include the glossary and bibliography from the full U.S. edition, and a new introduction by myself. The U.S. edition includes a forward written by certified financial planner Sheryl Garrett, and the Canadian edition again features a forward by CTV News senior financial commentator Patricia Lovett-Reid.
While the ebooks are for the Kindle, you don’t need a Kindle to read them: Amazon provides a free Kindle reader app that lets users of iPhones, iPads and other devices read Kindle ebooks. Amazon customers can also access the Kindle Cloud Reader, which you can find here.
Astute observers may note that the title of the ebook inverts the wording of the full U.S. book. My reasoning was that while the term “Findependence” may slowly be catching on in Canada, where the book was first published in 2008, the term is less familiar in the U.S., so the main title focuses on the more well-known phrase Financial Independence.
The ebook also includes live links to two new web sites on financial independence that are in the process of being launched in a matter of days.
While Findependence Day is at one level a “novel,” complete with a multi-layered plot, characters, setting etc., it’s a hybrid creation that also attempts to weave the basic lessons of financial literacy into the story.
As indicated last post, the new US edition, including the e-books, includes a feature not present in the original North American (i.e. Canadian) edition: end-of-chapter lessons of the basic concepts learned.
In retrospect, I should have done this from the get-go since the book is first and foremost a financial literacy primer.
As I create a backgrounder for the press, I’ve gone through the exercise of extracting the 18 end-of-chapter summaries (“What Jamie & Sheena learned this chapter”) into a single document. It reinforces that if you toss out the story, there’s plenty of useful material there, so much so that I sincerely believe that if anyone took every lesson to heart, they would indeed “achieve financial independence while they’re still young enough to enjoy it.”
Those who have only the Canadian edition can view the new foreword and an example of the end-of-chapter summaries by previewing the free Amazon Kindle version here. And you can get the e-book version for $3.99 or less in most tablet and e-reader formats by clicking through the Trafford link here.
But for those who would rather not, I’ve decided I’m going to roll out the 18 summaries in this blog perhaps on a weekly basis. We’ll start with chapter 1, even though that’s already available in the sneak preview:
Chapter 1 Summary: Take it to the Limit
Topic: Credit cards and other forms of bad debt
• You can’t start building wealth until you’ve eliminated debt.
• To save, you must stop spending.
• To stop spending, you must embrace “guerrilla frugality” and be willing to make small sacrifices.
• The foundation of Financial Independence is a paid-for home.
• Findependence Day is simply a contraction of Financial Independence Day.
• The key to manifesting your Findependence Day is to pick an actual date in the future and visualize it happening.
• To reinforce the idea that saving is more important than spending, take to heart the motto “Freedom, Not Stuff!”
This weekend’s Financial Post featured a column on financial literacy for young people and writer Jason Heath closed with a nod to Findependence Day. Titled The Kids are Not All Right, here is the full article and below is the reference to the book.
Jonathan Chevreau’s Findependence Day is another book that focuses on different stages of a young person’s financial development. While Taub’s book has chapters directed towards parents with children ranging from five to 21, Chevreau’s is aimed more specifically at young people aged 20-40. Findependence Day follows a young couple’s financial planning journey from their 20s to their 40s.
I should add that Jason is one of several fee-only financial planners with whom I vetted the manuscript when it was written in 2008. At the time, Jason was with one of Canada’s largest fee-only shops: EES Financial. The firm had created a concept it called Dream Day, which was very similar conceptually to what I call Findependence Day. Jason and a partner recently went out on their own to create their own fee-only financial planning shop, Objective Financial Partners Inc., based in Toronto.
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The Credit Counselling Society (www.nomoredebts.org) recently purchased a bulk order of Findependence Day for its offices in Westminster, B.C., which is being distributed to various Counselling Team leaders across the country.
For instance, on Twitter Winnipeg-based Counselling Team Lead Christi Postner (www.moneycoach.ca) today posted a mention of this on Twitter. Thanks to Christi, Scott Hannah, and others for helping to spread the word.
As long-time readers of this blog may know, Toronto-based Credit Canada is also distributing the book to clients.