"I followed the author’s instagram account and found it extremely practical and helpful. However I find the book a little more on the research side and stating the obvious. I didn’t enjoy reading about other people’s stories about happiness, it was not very convincing. I would recommend those who are looking for practical help to stick to the author’s instagram account."

"This was a short but enjoyable read. The main point is that we are complicated creatures who have complicated relationships with money. It’s ok and expected to not base every decision off of cold Excel calculations. Instead of pretending we will, here is some of the advice he recommends:

Don’t try and time the market. Dollar cost average. 85% of large cap fund managers did not beat the S&P 500. Stock picking isn’t the worst thing ever but know the odds are not in your favor. Doing some of that is OK but you should primarily stick with low cost index funds.

Always keep an eye on greed creeping in. Make sure to avoid the psychological treadmill of keeping up with the Joneses.

Investing a lot when you’re younger is so important. The vast majority of Warren Buffett’s wealth is because of how early he started investing, more so than having a higher rate of return. compounding is a wonderful thing.

Wealth usually ends up being more about how much money you save rather than how much you earn from your job or the right investments.

Saving is the gap between your income and your ego.

Having money saved gives you flexibility in many facets of life and immeasurable peace of mind. It allows you to do what you want, when you want it.

It’s OK to do something that gives you peace of mind even if it’s not the best financial decision. For example, finishing student loan payments with a 4% interest-rate even though you could make more by reducing payments and investing some of that in the market.

Expect the unexpected when it comes to the stock market, and don’t pull out money during downturns. Have a 1/3 buffer. For example, if the US stock market usually returns 6.9% after inflation, prepare for 4.6%. You may retire in a bear market or the past may not repeat itself.

To the point of not trying to time the market: only 9% of tactical mutual funds, those that try to re-allocate stock versus bond percentage based on economic forecasts, ended up doing better than just leaving it in. Enduring downturns is the cost of compounding, and it’s well worth the price. Think of market volatility as a fee. You get what you pay for.

Remember that people, especially the media, tend to air on the side of pessimism even if things usually get better over time.


All things considered, I would recommend this book!"