“Killing Sacred Cows” is certainly a catchy title.  At first glance, you might think that this book has some sort of religious theme, but it’s not that type of book.  Killing Sacred Cows is about money myths that perpetuate, and the reasons why they are myths.  The thing that stood out most about this book is that it goes against common financial wisdom.  Think living frugally or maximizing a 401k (or RRSP) is a means to wealth?  The author certainly doesn’t.

About the Author:

According to the back of the book:

Garrett Gunderson is an entrepreneur who became a multi millionaire by the age of twenty-six.  He is the owner of 5 companies, winner of the SBA Young Entrepreneur award, and one of his businesses is on both the Inc. 5000 list and the Utah 100 list of the fastest growing companies.  Garrett coaches elite business owners in the financial services industry and has created programs that empower people to achieve wealth.

What is this book about?

As I mentioned above, this book is about debunking money myths.  In particular, each chapter is separated by common money beliefs that can be holding us back.  To be completely honest, a lot of the so called “myths” that the author writes about are strong beliefs that I currently have about money.

The myths covered are:

  • Myth 1: The Finite Pie
  • Myth 2: You’re in it for the Long Haul
  • Myth 3: It’s All About the Numbers
  • Myth 4: Financial Security
  • Myth 5: Money is Power
  • Myth 6: High Risks = High Returns
  • Myth 7: Self-Insurance
  • Myth 8: Avoid Debt Like the Plague
  • Myth 9: A Penny Saved is a Penny Earned

What Did I Learn?

I’ve always been the type to worry about the numbers in wealth accumulation.  According to Mr. Gunderson, however, money in itself has no value, it’s people who have value.  Money is simply the result of “adding value” to the world.  How do you “add value”, you ask?  Through finding what’s called your soul purpose.

Finding your soul purpose is discovering what brings you the most joy and creates the most value for others.  It’s what enables us to develop to our full potential.   Ask yourself, if you had all the money you ever needed, what would you do everyday to be productive? Also, in what areas do you have superior skill and have extreme passion?

These questions regarding “soul purpose” really get me thinking.  Am I working to my full potential with my current career?  Do I wake up in the morning to go to work simply for the paycheck?

Final Thoughts

Even though there are a couple sections in the book that I don’t agree with (like the section on self-insurance), overall, I recommend this book.  It gives fresh perspective on how wealth and money works from someone who has made millions at a very young age.

Want a Free Copy?

  • Simply leave a comment and you’ll automatically be entered in the draw for a free copy.
  • Please only 1 comment entry / person (please enter a valid email address).
  • Only those with a North American mailing address may enter (publisher rules, sorry).
  • Contest will end Friday 5pm EST Nov 21, 2008 and the winner announced shortly afterward!
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Note that the book has a website http://www.killingsacredcows.com where you can read the 1st 2 chapters for free.

Sounds like an interesting book, I’d love to win a copy!

I agree with Jeff, Sounds like an interesting book, I’d also love to win a copy!

I’ll toss my hat in the ring…

Count me in!

Sign me up.

Sounds like a nice read…

Would love to win a copy of this book.

Sounds like an interesting read…I recently read a similar book (not about wealth accumulation) called Rules of the Red Rubber Ball by Kevin Carroll which is about finding and sustaining your life’s work. Very short read but certainly inspiring. Kevin Carroll by the way is the Nike guy who created those yellow Nike wristbands.

The book sounds interesting. Count me in!

Love the title. Sign me up!

That’s one thing people tend to get confused, price and value. Price does not necessarily reflect value and vice versa. A good example would be oil and gas. Six months ago oil was $140/b, people got up and drove to work. Today oil is $55/b, people get up and drive to work. The price has changed drastically but the value remains the same. Or the other way — Cabbage Patch Kids.

The same goes for ‘people value’. Although the market usually prices things accordingly (e.g. surgeons making more than paperboys) there will always be anomalies (e.g. CEO’s of failed banks “earning” more than anyone; volunteers who build schools in Third World countries getting paid nothing — I though education was important?).

As for working your “soul purpose”, that idea has been around forever. Unfortunately, the world doesn’t always value or price everyones “soul purpose” at living-wage levels. What if your “soul purpose” is poetry and that’s what you had “extreme passion” about? The current market is still not going to price nor value you even a fraction of what a mechanic or plumber gets paid (even if they hate their jobs).

The real soul killer is when it works the other way, when the worker finds no value in the job he/she does and does it simply for the pay cheque — like me and millions of others. Sometimes reality trumps soul.

Hope I win!

I certainly have been creating my own money myths by reading all sorts of finance blogs that flog frugal living as the only means of succuess. But I also maintain that there are a lotof different ways to become financially well off…
Everyone’s got to find their right mix!

I’d love to read it.

I think this book would be great for anyone who regards their work as their life. Since I regard my life as my life, I don’t want it.

Count me in!

Sounds really interesting!

Would like to give it a read!

Looks like a good read, if I don’t win, I will probably look for it anyways. Thanks for the lead.

If this book is any indication, it didn’t take long for the capitalist system to kick right back in. Working for “soul purposes” works only in an environment that doesn’t require wealth creation. So unless your born a Warren Buffett, be prepared to make sacrifices of the soul. Count me in, and enjoy your day.

please and thank-you

What if your soul purpose is killing sacred cows?

looks interesting. count me in!

This actually sounds like an interesting read. I’ll put on my library list even if I don’t win. Thanks for the review and contest. Moo!

I’d love to win this book! Count me in.

I love free stuff! Sign me up.

Count me in. Looks like an interesting read. A different perspective from what I usually read. Thanks!

I’d love to win a copy of this book!

I’m skeptical.

Based on your review, it promises to be an interesting read!

If I win, and once I completed reading it, I would donate the copy to the local library as they don’t have one yet.

Count me in

I’m definitely interested … the Soul Purpose section caught my eye as I’m in one of those “working for a paycheque” situations and want out!! :)

Free Stuff…COOL!!!

count me in

The idea of “soul purpose” sounds very appealing. Finding it would probably also lead to a pretty fulfilled and happy life. And therein lies the problem: how to find one’s “soul purpose”?

If money is the result of adding value to the world, then people who work in various low (or no) paying jobs helping other people (NFP workers, volunteers, teachers, etc) are not adding value to the world? Perhaps I am taking this too literally. Like similar books, it is only one man’s opinion and view of the world – which can be quite colored when you are a multi-millionaire under 30. Take from it what works for you and that you think is logical.

Sounds like an interesting book to read. Sign me up for a free copy!

Ooooh, a challenge to most if not all of my core beliefs about money. Sounds like a must read.

Thanks for the review.

The Smith Manouvre certainly broke a sacred cow for me.

sounds like an interesting read

This is a book I’d definitely be interested in reading!

I believe this book is very informative!

All right, I’ll bite.

I like business books. Sign me up.

I agree that people are more important than money. It looks interesting as the author of the book appears to be especially good at the money part. I look forward to reading it to see how well he is at the other.

I feel lucky today.

I’ve heard the philosophy that if you can do what you love, you ultimately will be successful.

Now, if only someone can help me find a job that will pay the bills while I surf the web, watch sports, play golf (poorly), and eat junk food.

Fuzzy Wuzzy was a woman

Sounds interesting!

Sounds interesting, sign me up!