Just Keep Buying by Nick Maggiulli
Nick Maggiulli, the author of Just Keep Buying, talks about saving and investing in a way that makes sense. He explains why everyone should invest their money and why it’s important not to put everything in one bucket.
By the time you finish this book, he’ll not only convince you to start investing but also give you solid reasons behind it.
Life’s Last Edit by Rahul Makwana
Think of it as a self-help bible—not just a collection of lessons, but a guide to transforming your life.
Book in Five Sentences
- Invest as early as you can—don’t wait for the perfect time because no one can predict the future.
- Make sure you have an emergency fund in place. Don’t invest everything, and don’t spend everything either.
- Cut down on expenses that don’t add value to your life. Every small decision counts.
- Invest as much as you can. You don’t need to take on debt to invest, but if you have extra money lying around, don’t let it sit idle—put it to work.
- And most importantly, never take on debt to buy things like smartphones or other products just to feel good. Prioritize what truly matters.
Just Keep Buying Summary
Just Keep Buying is one of those books made for new readers who want to learn about saving and investing in the simplest way. The author covers everything that you need to know before you start your investment journey.
Personally, I didn’t find anything new since I’ve already read several finance books like Rich Dad Poor Dad, The Psychology of Money, and others. So, I was hoping for more unique insights, but this one didn’t deliver that for me.
By the way, The book is divided into two parts: Saving and Investing…
| Saving | Investing |
|---|---|
| How Much Should You Save? | Why Should You Invest? |
| How to Save More | What Should You Invest In? |
| How to Spend Money Guilt-Free | Why You Shouldn’t Buy Individual Stocks |
| How Much Lifestyle Creep is Okay? | How Soon Should You Invest? |
| Should You Ever Go into Debt? | Why You Shouldn’t Wait to Buy the Dip |
| Should You Rent or Should You Buy? | Why Investing Depends on Luck |
| How to Save for a Down Payment (and Other Big Purchases) | Why You Shouldn’t Fear Volatility |
| When Can You Retire? | How to Buy During a Crisis |
| When Should You Sell? | |
| Where Should You Invest? | |
| Why You Will Never Feel Rich | |
| The Most Important Asset |
Invest As Much As You Can
I’m from India, and no one in my family or friend circle taught me how or where to invest. Everything I know about money, I’ve learned from books. It can feel overwhelming when someone says, “Just invest in the stock market and forget about it for 10 years.”
I used to wonder: What if the company I invest in goes down? What happens to my money?
If you’re new to investing, you might have similar fears. Let me tell you something important: never invest in anything just because someone told you to. Always do your research and then invest an amount you’re comfortable with.
Here’s a simple example:
Let’s say you earn ₹20,000 a month (it could be more too).
- Out of ₹20,000, you might spend ₹10,000 on basic needs.
- You’re left with ₹10,000. If there’s something you’ve been planning to buy for a long time, go ahead and get it, but don’t spend it all.
Assume you spend ₹2,000 on something you want. Now you’re left with ₹8,000.
- Take half of that ₹8,000 (₹4,000) and invest it where you feel comfortable—stocks, crypto, mutual funds, or elsewhere. (If you ask me, I’d recommend the stock market, but that’s just my opinion, not financial advice.)
- With the remaining ₹4,000, start building an emergency fund in a savings account. Use it only when there’s a genuine need. Once this fund grows to a good amount, you can take some of it and invest again.
If you feel confident and can save more, you can increase your investment from ₹4,000 to ₹6,000 or adjust it based on your comfort level.
This formula is simple and flexible. Play around with the numbers until it feels right for you.
Cutting Expenses
You don’t have to cut your expenses to start investing or achieve your financial goals. We’re living in a modern world with endless opportunities to earn extra income—whether it’s through websites, YouTube, selling something online, or countless other options.
The possibilities are truly endless.
Take some time to figure out what excites you and start something on the side. Keep doing your regular job, but dedicate 2–3 hours a day to a side hustle.
You might not see results today or tomorrow, but trust me, the day will come when you’ll thank yourself for starting a website, creating content, or working on something meaningful instead of spending those 2 hours binge-watching movies.
When You Should Invest in Stock Market
If you’re reading this in 2022 and have already started investing in the stock market—congratulations! Whether it’s the stock market or crypto, we’re in a bear market where everything is down by 50% to 70%. This might not feel great now, but history shows that such periods offer opportunities.
If you haven’t started investing yet, what are you waiting for? (Of course, not financial advice!)
We’ve all heard the golden rule: buy low, sell high. While we can’t say for sure if this is the lowest point, it’s still a good time to start because no one can predict tomorrow. The market might recover sooner than expected, or it could dip further.
The smart approach? Do an SIP (Systematic Investment Plan). Invest small amounts consistently, especially when the market goes down, and then wait patiently.
When 2040 rolls around, you’ll be glad you started—and maybe you’ll even think back to this moment. Just remember to invest wisely and stick to your plan.
Should You Ever Take Debt
It all comes down to what kind of debt you’re taking. For example, if you’re buying an iPhone worth ₹1 lakh on a loan or EMI, that’s bad debt. But if you’re taking a loan to invest in your new business, that’s good debt.
It’s really that simple. The key is to control your mind when spending someone else’s money—yes, I’m talking about loans.
Always aim to take debt for assets, not liabilities. Sometimes, taking a loan for liabilities might be unavoidable, and that’s okay, but it’s important to evaluate those liabilities carefully. Ask yourself, is it worth it—whether it’s an iPhone or something else?
Just Keep Buying Review
For new readers, Just Keep Buying is a perfect book to get started. However, for someone already investing or who has read a few finance books, it might feel repetitive.
That said, if you have the time and are curious, it’s still worth giving a try. It’s a simple read and might help refresh your perspective.
Buy Just Keep Buying:
Just Keep Buying Quotes
“To build wealth it didn’t matter when you bought U.S. stocks, just that you bought them and kept buying them. It didn’t matter if valuations were high or low. It didn’t matter if you were in a bull market or a bear market. All that mattered was that you kept buying.”
“Those who know, do. Those that understand, teach.”
“To save for your future self. To preserve your money against inflation. To replace your human capital with financial capital.”
“We begin our lives as growth stocks, but end our lives as value stocks.”
“Your rate of savings is primarily determined by your level of income.”
“Having more money tends to make people happier, up to a point. Beyond that, each additional dollar contributes less and less to our happiness due to diminishing marginal utility.”
“The most consistent way to get rich is to grow your income and invest in income-producing assets.”
“In Daniel Pink’s book, Drive, he proposes three critical components of human motivation and satisfaction: autonomy (self-direction), mastery (improving your skills), and purpose (connecting with something bigger than yourself).”
“Studies show that mortgage debt causes the least stress, while payday loans, credit cards, and loans from family and friends cause the most stress.”
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Nice summary