Book Review: Set for Life by Scott Trench
As an avid reader with a passion for personal finance, I was eager to dive into Set for Life, especially after hearing about its practical, actionable advice for achieving financial freedom. With the promise of guiding readers from being overwhelmed by money matters to achieving significant wealth—particularly for those in their twenties and thirties—I was ready for a transformative experience.
From the outset, what captivated me was how Scott Trench combines philosophical insights with practical steps. His assertion that “building wealth is always possible, even while working full-time” resonates deeply, as many young adults face financial constraints today. The book emphasizes a balanced approach, teaching readers not just to save aggressively—up to 50% of their income—while still enjoying life, but also how to double or triple their income within a few years.
One of the most valuable aspects of this book is its clear, methodical structure. Early sections focus on cutting unnecessary expenses (think housing and commuting costs rather than skipping lattes). This section resonated with AC, who praised it as a landmark in personal finance literature, emphasizing the book’s comprehensive coverage from saving to boosting income. I completely agree—it’s refreshing to have a roadmap that acknowledges the importance of cutting down on major expenses rather than just pinching pennies.
However, there are minor drawbacks. While the advice is broadly applicable, some readers—like Joshua Zack—mentioned that the tone occasionally reads as if it were written by a novice. While I believe that Scott successfully conveys his main points, the criticisms regarding a perceived simplicity are valid. Some parts could benefit from elaboration, especially on less conventional investment strategies. If you’re looking for a deep dive into various investment methods, you might find the content a bit sparse. However, Trench effectively compensates for this by focusing on the mindset shifts necessary for financial independence, which I found to be the book’s core strength.
Moreover, I appreciated the candidness surrounding calculated investing risk. Robert F. Gandy highlighted how crucial it is to understand that every investment carries risk—something Trench reinforces. This acknowledgment of risk, paired with the philosophy of financial literacy, empowers readers to take ownership of their financial decisions, making the pathway to “being set for life” feel attainable.
The book’s anniversary edition also includes updated content and renewed insights drawn from Scott’s experiences since its original publication. I was impressed by the effort put into refining the material and ensuring that readers received relevant information in today’s economic climate. The methods for tracking financial progress that Scott shares can feel like an awakening, and overall, I found his approach motivating.
Yet, my expectations were not entirely met in terms of comprehensive strategies for investment. As I mentioned earlier, readers seeking advanced techniques in investments may feel it lacks depth. However, I appreciate that the author makes clear that those details may not fit into his framework for achieving financial independence at a young age—something that makes the book focused yet somewhat limiting for seasoned investors.
In conclusion, Set for Life stands out as an essential read for anyone in their twenties or early thirties looking to lay down a solid foundation for their financial future. Scott Trench has crafted a valuable blueprint harnessing the power of frugality, smart investment, and proper financial literacy. Despite some minor shortcomings, this book beautifully balances actionable advice with the necessary mindset to succeed.
I wholeheartedly recommend Set for Life—it’s an engaging read that promises to ignite motivation and pave the way toward financial freedom. Whether you’re just starting your journey or seeking a fresh perspective on finances, this book could be your launching pad.
Discover the path to early financial freedom with “Set for Life.” >>