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The Meister Plan: A Doctor's Prescription for Financial Security and Success in Learning
Tuvia Meister, M.D. had two to learn all of the Torah, and to have the financial security to retire and learn. With wit and insight, he tells how he found his way to intense Torah life and presents his practical, down-to-earth, and successful prescription for investment success. It’s a formula anyone can follow -- and it lets people sleep at night while they reap a fortune, in Torah learning and in the resources to pursue it. The first part of the book relates how the author found his way back to the Torah life of his forebears. It’s the fascinating and humorous story of a young medical student learning to read X-rays while trying to read the road map to the world of Torah and mitzvos. But the most important part of this book -- one that should be read and taken to heart by anyone who has been tempted by today’s get-rich-quick mentality -- is how Dr. Meister invested small amounts of money regularly, so that it would grow and grow. He wanted financial security, so that he could devote his time to learning, and he achieved it -- starting with only $10 a week. In his words, “My philosophy fits the economic circumstances of most frum families. It’s a hands-off philosophy; that’s the beauty of it. If you’re frum, you really should not be constantly monitoring the stock market; that’s not a good way to spend your time.” In this book, Meister shows how to do to learn Torah and invest for long-term wealth and security. He teaches his methods, lists his portfolio, and shows the reader how to choose his own. So invest -- and start by buying and studying The Meister Plan to financial health.
234 pages, Hardcover
First published January 1, 1998
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Displaying 1 of 1 review
March 13, 2017
This was a good book for getting me started. It basically taught me:
1. Reinvesting dividends is the way to go
2. Do research before investing (more details n what type of research are part of the content of the book)
3. Investing in stocks is not a crazy gamble, if you are careful, stick with it for the long term, and follow the aformentioned lessons
It reinforced some things I already knew:
1. Short term stock owning is generally very risky
2. Diversification is important
3. Index funds are good for long term investing, especially Vanguard, and especially better than a broker
4. I really should read a lot more on this topic
A few more thoughts I had, but forgot to write the first time:
- Dr. Meister's learning program was really intriguing! I love the idea of consistent, small doses of every day learning. It's obviously not for everyone, but it was cool to read about.
- The book was written in 1998 and I felt some of the information might be dated -- it seems to me like the internet should be a fairly good resource of information and yet Dr. Meister didn't mention it at all. He does mention two tech companies, Microsoft and Intel, and they are still big companies 20 years later, but I wonder if he still would (does?) have the same approach to/view of tech companies today as he did then.
1. Reinvesting dividends is the way to go
2. Do research before investing (more details n what type of research are part of the content of the book)
3. Investing in stocks is not a crazy gamble, if you are careful, stick with it for the long term, and follow the aformentioned lessons
It reinforced some things I already knew:
1. Short term stock owning is generally very risky
2. Diversification is important
3. Index funds are good for long term investing, especially Vanguard, and especially better than a broker
4. I really should read a lot more on this topic
A few more thoughts I had, but forgot to write the first time:
- Dr. Meister's learning program was really intriguing! I love the idea of consistent, small doses of every day learning. It's obviously not for everyone, but it was cool to read about.
- The book was written in 1998 and I felt some of the information might be dated -- it seems to me like the internet should be a fairly good resource of information and yet Dr. Meister didn't mention it at all. He does mention two tech companies, Microsoft and Intel, and they are still big companies 20 years later, but I wonder if he still would (does?) have the same approach to/view of tech companies today as he did then.
Displaying 1 of 1 review