But wait... there's less!

How is it possible for a book to be depressing, supportive and hopeful all at once? Man Down looks at the problems men have today and how it managed to get this way. What price 'success'? It seems so many of the problems come from the external pressure to be a 'success' - whatever that means. Over time this pressure becomes internal and drives us to make decisions to satisfy that pressure, but which are detrimental in so many other ways. It can be the pressure to take a 'successful' career, though it's one we don't want or aren't suited for. Or to take a promotion, because salary is apparently success - or at least it buys all the things that signal success to others.  The promotion only means more pressure, less sleep, and poorer health. At the same time the extra responsibility takes away from our ability to exercise, take care of our health and form social connections. The lack of social connections means that retiring is one of the most dangerou...

First question. Why 4000 weeks? That's the average human lifespan. If you're reading this you've probably used up 1000 already. If you're a bit older you may have only 2000 left. Maybe just 1000. That can be a startling thought - given how quickly each week goes by. There's so much wisdom in this book, it's hard to summarise it briefly. But I'll give it a go.... Face the Finitude If time was infinite, we could work for 40 years and not miss out on anything. We could spend frivolously as we could always earn more money later. But in the real world there are time limits. Even if we have enough money to escape the nine-to-five, our time (though more plentiful) is finite. Just like money, we will run out if we fritter it away on low-value options. "Face the Finitude" has become one of my internal phrases now. It's my reminder that I don't have infinite time to waste. It may be helpful to think of it like money. eg. I might like something, but d...

The Ulysses Contract doesn't sound like a book about investing. The subtitle "How to never worry about the share market again" is what grabbed my attention. The book is mostly about the mindset and strategy of investing in shares. The obscure title refers to Greek mythology, the temptation of the siren songs, and the measures Ulysses took to keep his ship and crew safe - including being tied to the mast of the ship, to hold himself to his own plan. In the book, Michael Kemp outlines the temptations (siren songs) in the share market, gives some solid guiding principles (the mast) that investors can secure themselves to, and outlines his idea of a Ulysses contract for investing. The temptations include spending too much on consumer items (it's hard to invest if we spend all our income) doing what everyone else is doing (when the crowd is selling, it might be the best time to buy) expert predictions (not worth that much, and can be wrong as much as right) market-timing, ...

Dan Ariely is an expert on human psychology and decisions. His book  Dollars and Sense is focussed on how to avoid "money mishaps" . That can include paying too much for something; buying something that doesn't provide value; or in some cases not buying something that we really should buy. We can be better spenders of money by avoiding money mishaps. We can get more value for our money - or get the same value for less money. So what are the mishaps? Here are some highlights. Opportunity Cost This is the idea of thinking about what else we could do with money - and whether that's better value.  In one experiment, people were given the option of (A) a $1000 stereo or (B) a $700 stereo and $300 cash. People chose option A. Then people where given the option of (A) a $1000 stereo or (B) a $700 stereo and $300 worth of music. Now they chose option B. In the first choice, people gave up the $300 because they wanted the more expensive stereo. But when forced to think of some...

This book stood out on the library shelf. Massive clutter can create anxiety at any time, let alone when it has to be dealt with during one of the toughest points of life. Author Julie Hall deals with estates for a living. Her book covers the nitty-gritty of dealing with all that stuff. It also covers caring for parents while they are here and what to do to make life easier for them, your siblings and you. Parent Logic We may wonder why parents keep so much stuff. Julie explains that our parents (having grown up in a different time) have their reasons. Often they had to 'go without' as kids and so don't want to 'go without' again. Sometimes they think items will become valuable with age.  Also there's the thought "the more I leave the kids the more they will have" . This is obviously mathematically true - but whether that's a good thing is questionable. Ironically, this admirable quality of aversion to waste often ends up causing waste. Items get s...

For the first time ever I'm reviewing a novel. Latte Factor is a short story  - around 120 pages - and is equal parts of inspirational story and financial education. The combination of the two is quite rare, and done quite nicely. The story is about Zoey Daniels, associate editor for a travel magazine. Although she's never been outside the USA  - "a travel editor who's never travelled". She struggles with money and is considering a higher-paying job at the company her friend Jessica works for. The job would provide more income, but would also be more stressful and demanding. She already has a nightmare about being on an increasingly-fast treadmill that she struggles to stay on. Her current boss Barbara - aware only of the money situation - suggests she talk to Henry at the coffee shop. This peculiar suggestion is where Zoey's life begins to turn a corner. Spoiler Alert Being a book of fiction, I don't want to spoil the story for you. It's a book you ca...

One of the most well-known board games can also be a great way to learn about money and investing - according to this book. Perhaps one way to teach kids (and maybe ourselves) about finance is to play a board game. In so many ways, the game parallels our own financial life - and we can practice financial decision-making without losing any real money. Is monopoly like life? Yes and no. We manage our cash, negotiate, make deals, make choices, go through tough times, make investments, pay tax and reap rewards. To do well we have to make investments. It's very hard to win just by collecting $200 each time you pass go. There are rules, and wise moves. The better we know them, the better we do. However, in real life, you can win without forcing others into bankruptcy. Principles that work in the game and life Diversify. You might have hotels on the two most expensive properties on the board, but if no-one lands on them, you still might lose. Investments have a price and a value. They are...

This book is not for everyone - but can be immensely valuable for those who are meant to read it. If you're thinking you'll reach zero a lot earlier than that, then I'd recommend starting with  Your Money or Your Life . Otherwise, here is what I learnt from Die with Zero  and my personal reaction. Many people in the middle class (and above) retire with heaps of money. Then they spend some of the investment earnings, while their capital continues to grow - even into their 80s and 90s. Their last day is possibly the wealthiest they've ever been. What's wrong with that? That might sound good. Why wouldn't we want ever-increasing wealth? The answer is in the book's subtitle "Getting all you can from your money and your life". There's no prize for being the richest person in the cemetery. Bill figures that if someone dies at 90 with 4 million dollars, that they either missed out on doing things with that money, or spent way too much time working - f...

Ever felt yourself wondering where all the time in the day went? Or asked yourself why the things you wanted to do haven't got done? This book might be what you're looking for. Jake Knapp and John Zeratsky worked for Google. They helped redesign Gmail and You Tube. Then they worked out a way to redesign how they spent their time. They share their tactics in this book Make Time: How to focus on what matter every day . As you might imagine, I really like the idea of doing more of what matters by wasting less time. Two big things that steal our time The Busy Bandwagon is the "culture of constant busyness - the overflowing inboxes, stuffed calendars and the endless to-do lists" . Much of this not really necessary. Infinity Pools are "sources of endlessly replenishing content" . Social media, TV and streaming services are examples. Obviously when there is no end to the content, there's no limit to how much time they can suck away from you.  Apparently the ave...

"Been busy?" is a question we're often asked. Sadly we're often far too busy and don't have time for the things we really want to do. We've made working our number one priority and are suffering the consequences. But it doesn't have to be this way. Author Celeste Headlee explains the reasons work takes up too much of our lives and shows a way forward to being less busy, less overworked and more happy. The title "Do Nothing" might put you off reading this book. I recommend you read it anyway. The subtitle "break away from overworking overdoing and underliving" is a better description of the book. In a world of overworking we seem busier than ever. How is it that our grandparents had so much leisure time even without the assistance of robot vacuums, online shopping, microwaves and the internet? Author Celeste Headlee suggest that instead of gritting our teeth and forcing our "body and mind to work punishing hours" as if they w...

It's no secret that almost all of us have too much stuff. Peter Walsh's book Let it Go is very helpful for people looking to do something about it. Aussies may know Peter Walsh from Space Invaders , where he regularly assists people in letting go of about 75% of their clutter. In this book he gives a mental framework, and practical approach and a step-by-step guide for downsizing your physical possessions. It's particularly geared for people moving house, often in a life transition such as marriage, job change, kids leaving home, retirement, or moving into aged care.  Here are some of my highlights: Why is this so hard? At the moment the Baby Boomer generation is inheriting a lot of stuff from their parents while also entering retirement and trying to downsize. So they pass things along to Gen X and Y. The event that caused the downsize can be stressful in itself. Then we realise that we own way more than we want or need. In our society, consuming and accumulating is consid...

Yes, by now we all know that smartphones and social media are doing us harm. How do we harness the benefits of them without the destructive effects. The book Offline makes 5 main points. If you've only got a minute, here they are: The addictive design keeps us on online platforms longer. The 'brain hacks' disrupt our brain's ability to function. Humans need "real" interaction, and social media does not deliver this. Technoference (digital over-riding direct interactions at the play ground, coffee shop, dinner table) result in something valuable being lost. Speed of the transformation is astounding. 75% of people are connected, with almost half using social media. We have no idea what the long-term effects of this real-life experiment will be. Going a bit deeper, here are some of my highlights from the book. So what are side-effects? According to various studies, the effects can be grouped into the physiological (poor sleep, neural re-wiring, and increased str...

Ever felt your life-satisfaction dip as middle-age approaches? It's not just you. It's quite normal. Here's how it works and what we can do about it. The title and the cover of the book give away the main point. As humans we tend to be less happy in the middle part of adulthood. Even if we're successful we can still get dissatisfied. Of course this is an average. It is "possible to be satisfied in middle age" - but it is harder. While genetics, circumstances and voluntary actions are crucial to explaining life satisfaction, there seems to be an aging component also. It's all relative This graph from the book shows average happiness (darker points) compared to expected happiness (measured five years earlier). For instance, the average 22-year-old's happiness is just above 7. But when asked for a prediction as 17-year olds, their average answer was 7.7. Clearly our expectations are high. Experts call this "optimism bias" and it appears to dec...

Which is more important? Our money or our life? So why do we trade away so much of our life? Vicki Robin's classic book takes an in-depth look at how we can have a better relationship with money. Here are some of my highlights, though there's so much more great value in the book. I found it so inspirational after reading the foreword and the first chapter. While the backbone of the book is a 9-step plan, there are two concepts that really stand out - even if you never start the plan. One is the idea of "life energy" and our "real hourly wage". The other is the point of enough. Life Energy What is money? Vicki Robin comes to the conclusion that it is a form of life energy. It might sound a bit new-age, but it's like the old business saying "time is money". We exchange our time, and our physical and mental energy to get this thing called money. So when we use it we are effectively spending our life. The exchange rate Spending money is almost like...

This book is often recommended. The author sees shares as safer than term deposits, prefers low dividends and isn't keen on property. I was keen to read it. Here are my highlights: Two tips Spend less than you earn. Borrow less than you can afford. Those two tips alone would help so many people. Assets and liabilities What we often call assets are really liabilities (they cost us to maintain). Houses, cars, boats can be liabilities - useful for "status or position in the pecking order" . He uses the example of a retiree with $3 million in assets. A million dollar house, a million dollar boat and two $500k cars. They sound wealthy but how will they buy food, let alone pay the ongoing costs of all those items. By contrast, assets bring in an income. Attitude to shares He says the sharemarket is our friend, and "provided it is treated with respect, it creates appropriate wealth for all those who use it sensibly. However if we approach it as a gambler, we need to be prep...