Wealth Your Way

A Simple Path to Financial Freedom

Non-Fiction - Business/Finance
236 Pages
Reviewed on 07/19/2022
Buy on Amazon

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Author Biography

Cosmo P. DeStefano is a retired CPA and tax partner who worked for over three decades in one of the largest professional services firms in the world, with a global network of more than 284,000 people across 155 countries. He has consulted with clients big and small, public and private, across a wide variety of industries, helping them solve intricately complex business and financial issues.

Cosmo is also an award-winning author, having won a gold medal in the 2023 Readers' Favorite International Book Award Contest for his book Wealth Your Way.

Today, Cosmo and his wife live in the suburbs of Boston enjoying financial independence and a secure retirement. He wrote Wealth Your Way to help the next generation of investors know that same joy.

    Book Review

Reviewed by Michael Froilan for Readers' Favorite

Wealth Your Way: A Simple Path To Financial Freedom is precisely what the book's title entails. Living up to its name, this is a tremendously informative book that covers a lot of ground about mapping out the appropriate and lucrative steps to achieving financial independence. As a retired certified public accountant, author Cosmo P. DeStefano presents his expertise and offers valuable gems of advice from the first to the last page. He knowledgeably discusses a significant amount of topics regarding finance and breaks them down in an easy-to-understand manner. Notwithstanding the fact that DeStefano writes for a broad audience, he considerately mentions he aims to help the reader "how to think about personal finance matters rather than what to think." Because similar to success being arguably subjective, so is financial independence. It's not a one-size-fits-all.

Wealth Your Way is one of the best books I've come across regarding the "boring business stuff." Cosmo P. DeStefano doesn't beat you over the head with complicated accounting jargon. His writing style is straight to the point and down-to-earth, proving the age-old truth that simplicity does go a long way. He simplifies terms like "asset allocation," which made me appreciate the book even more because who enjoys reading where you have to pause every other sentence to Google what certain words mean? DeStefano also went to great lengths on the subject of investing. I love that he doesn't advocate "beating the market" but recommends making the right decisions and not being clouded by biased judgment. What I valued the most is that he highlights the cardinal factor in accumulating wealth: Self-Awareness. Because at the end of the day, you're responsible. And after all, as DeStefano proficiently points out, financial independence is personal. There's a chapter about inheritance, and a noteworthy line sticks out: "No matter what else you leave to your children, give them the two gifts that will bear fruit for generations: your unconditional love and the gift of wisdom." Wealth Your Way is definitely a gift that I believe everyone will treasure for a long time to come!

Joe Wisinski

Wealth Your Way: A Simple Path to Financial Freedom is a blueprint for achieving and maintaining financial independence. Author Cosmo P. DeStefano is a retired certified public accountant and tax consultant, and his book is part inspirational motivation and part practical advice. DeStefano tells his readers to establish goals, make a financial plan, and stick to it, revising as necessary. He uses charts and graphs to illustrate many points, and each chapter ends with additional suggested reading. An appendix lists core portfolio suggestions and there is an extensive bibliography and endnotes. DeStefano’s book is about investing, but it’s also about more than investing. It’s an entire plan for financial independence.

Wealth Your Way: A Simple Path to Financial Freedom is a fine book for anyone seeking financial independence in retirement. The author inspires his readers with statements such as “when saving and spending bring you equal happiness, you are well on your way.” The advice is wise. For example, DeStefano writes, “. . . to start, invest in low-cost, broad-based index funds . . ." The chapter titled “Better than Compound Interest“ alone is well worth the price of the book. As the chapter explains, few people understand the power of compound interest; fewer still understand how adding just a little more money each month to your portfolio makes a huge difference over the years. Cosmo P. DeStefano’s advice is easily understood, logical, and effective. Anyone who cares about their financial future—regardless of how much they may or may not know about finances at present—will benefit from this book.

Astrid Iustulin

We all dream of achieving financial independence, but sometimes it happens that we fail to achieve it. To get started, we require sound knowledge and skills that only those who know this topic in-depth can give us. In Wealth Your Way: A Simple Path to Financial Freedom, Cosmo P. DeStefano offers us his experience as a public accountant and tax consultant and will reveal how to achieve financial independence. He will tell us why having goals is the most important thing when planning your financial freedom, why it is crucial to know how to manage your emotions when investing, and what the difference is between speculating and investing. He will also advise on our fragile decade and our legacy.

Wealth Your Way is a book for anyone interested in their financial future. Cosmo P. DeStefano helps us understand this complex subject and gives us a new perspective. For example, I had never thought about starting with my goals to achieve my financial freedom (as the author advises us to do), and I must say this was mind-blowing - and I was only at the beginning of the book! I also appreciated that the author encourages us to form our own opinion based on what we have read. It is not enough to read Wealth Your Way once to understand it; you should study it to achieve what each of us desires - financial independence and the freedom to do what we love most. I believe an author cannot offer a greater gift to his readers.

Lexie Fox

In a world where getting out of debt is a distant pipe dream to so many, former accountant Cosmo P DeStefano has distilled his considerable expertise into Wealth Your Way: A Simple Path to Financial Freedom. Through realistic and sage advice on how to grow your personal wealth to a point where you can control your debts and even retire early, the book gives accessible advice and essential warnings to those seeking freedom from the financial restraints that stop them from enjoying life to the fullest. I particularly appreciated the author's ability to discuss the important financial concepts involved with investing in a way that left me, a layperson in financial matters, feeling like I fully understood what I needed to do to make the most out of the financial system.

Wealth Your Way discusses a lifelong strategy for building and maintaining the wealth necessary for financial freedom, making no bones about the unrealistic nature of short-term schemes to get rich. Cosmo P DeStefano has devised a strategy that focuses on gradual growth with routine maintenance to achieve sustainable and realistic results. It’s an important focus that establishes the text as one founded in the wisdom of experience and sets Wealth Your Way up as an invaluable resource for those seeking to secure their financial future. No matter a reader's experience with the world of investing, there is something to be gained by reading this book, whether guiding you through your first tentative steps in the investment world or helping to refine your existing investment strategy.

Vincent Dublado

You have most likely heard about financial independence and its pressing importance in today’s world. But why would you want to be financially independent? In Wealth Your Way: A Simple Path to Financial Freedom by Cosmo P. DeStefano, the author speaks from experience as a CPA and tax consultant. Surprisingly, the author shares that the toughest challenges he has encountered are not found in the professional world but rather at home teaching his children about money matters and that the biggest challenge was not the teaching—it was the learning. This book is conceived to help you learn how planning for money matters can arm you in traversing life’s stormy journey. It begins by giving you a map to chart your financial course and builds by introducing you to the elements of financial literacy like compound interest, market returns, and volatility, as well as the caveats on entering the world of investments.

For Cosmo P. DeStefano, Wealth Your Way is his philosophy of wealth accumulation that gives you realistic expectations by showing you that it is simple but not easy. He gives it to you straight, so that it is up to you to take the challenge and stay on your path to shaping your life’s complete financial arc. It is so simple and straightforward that the book’s structure can be easily identified by three major ideas: understanding what financial independence is, setting goals and developing a plan, and making changes as needed to adapt to the changing markets. You may have your own reasons for achieving financial independence, and since you will be investing in your path toward FI, you might as well get the most relevant reference for the subject. Wealth Your Way is a must-read because it will help you do careful assessments of your needs to avoid any pitfalls.