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Seven Myths About Money: And the Truth About Finding Financial Freedom
THE INSTANT SUNDAY TIMES BESTSELLER
'A masterpiece' Rory Sutherland, author of Alchemy
What if everything you’ve been told about money is wrong?
Have you ever been told that cutting your spending is the key to financial freedom?
Or that only a fool would try to make money by picking stocks?
Or that buying your home is always a smart investment?
Most of us have heard these truisms from friends, from family, even from financial experts. They are held up as nuggets of timeless wisdom. There’s just one none of them is true.
Over the last decade, the world of money has transformed – but the mainstream financial advice hasn’t caught up. The most of us are being fed money advice that will only take us further from our financial goals.
Here, a leading investor debunks seven of the most common misconceptions about money, and explains why the true path to wealth is dramatically different from what you’ve been told. Confounding and eminently practical, Seven Myths About Money sketches out a radically new route to financial freedom – one fit for the twenty-first century.
'A masterpiece' Rory Sutherland, author of Alchemy
What if everything you’ve been told about money is wrong?
Have you ever been told that cutting your spending is the key to financial freedom?
Or that only a fool would try to make money by picking stocks?
Or that buying your home is always a smart investment?
Most of us have heard these truisms from friends, from family, even from financial experts. They are held up as nuggets of timeless wisdom. There’s just one none of them is true.
Over the last decade, the world of money has transformed – but the mainstream financial advice hasn’t caught up. The most of us are being fed money advice that will only take us further from our financial goals.
Here, a leading investor debunks seven of the most common misconceptions about money, and explains why the true path to wealth is dramatically different from what you’ve been told. Confounding and eminently practical, Seven Myths About Money sketches out a radically new route to financial freedom – one fit for the twenty-first century.
208 pages, Hardcover
Published January 9, 2025
46 people are currently reading
368 people want to read
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Displaying 1 - 28 of 28 reviews
January 6, 2025
An excellent guide to today’s financial market and how to invest for a balanced portfolio, this book also gives a wonderful (although depressing) look at how we got here from choices made back in the 70s. Recommended for those who are just starting their investing journey or are just looking for more information about structuring their finances.
January 26, 2025
As someone who knows absolutely nothing about finances, other than the basics, I found this book extremely interesting. I feel so much more wise regarding things that I thought were above me - such as stocks and shares.
I found the history of money and finances particularly interesting. It is nice to read a guide on money that backs up the claims it makes.
This book is aimed at the everyday person, not just the rich or business savy.
I am excited to save up and give investing a shot, thank you to this book.
I found the history of money and finances particularly interesting. It is nice to read a guide on money that backs up the claims it makes.
This book is aimed at the everyday person, not just the rich or business savy.
I am excited to save up and give investing a shot, thank you to this book.
January 24, 2025
Useful!
October 31, 2025
With the same accessible style as The Price of Money and a talent for rendering quite complex economic concepts simple, this is a book worth reading. The light humour and reassuring tone leaves the reader with a sense of confidence that they can better navigate the usually troubled waters of their finances.
I would say, however, that the claim of the book to debunk conventional wisdom about financial choices is something of an exaggeration. Own your own home, balance stocks and bonds in a certain ratio, etc., are not so much as debunked as demonstrated to depend much on one’s own circumstances. And this is where the merit of the book lies, in providing a framework to evaluate one’s own position and act accordingly. Ultimately the choices are going to fall inside most of the conventional ones, just how and when one might make them is rightly going to vary.
I do, however, have a couple of gripes. The first comes to property. Buy to let comes up frequently without even a smidgeon of recognition of the societal impact of this. He recognises property prices have risen in line with or better than inflation, but that is because of decisions by individuals that favour a middle-aged middle class. Artificial scarcity in the housing sector has bad knock on effects – preventing people from getting on the property ladder – which as the author notes is one sure way to have protective assets, but also exacerbating the social and community instability that comes about when people are denied such a thing. Owning a house encourages our common inclinations to husbandry and belief and investment in a community. To simply abstract this concern (equally with investing in fossil fuels for exampke) from its wider societal consequences, might be good for individuals but will not help to create a more equal society. And a more equal, fairer, more compassionate society in the long run might be better for more people, as it might provide many of the benefits that are aspired to by the desire for financial freedom.
Relatedly, a strong message in the book is to earn more. The author encourages industry but does not encourage us to evaluate potential choices on an ethical plane. Again, society. Here a bit of Marxian economics would help. A social media influencer does not create new value. They do not add to the net worth of an economy. All they do is shift money into their own pockets that would otherwise go elsewhere. Obviously this book is for individuals seeking financial freedom so it comes down to personal choices but I do wonder if the people excited by dropshipping or affiliate marketing or shamelessly promoting brands, or bitcoin for that matter, ever really pause to evaluate their actions with regard to social responsibility. I was fascinated by bitcoin as a means of exchange, but as a carbon-hungry vehicle merely to augment personal wealth I find it rather abhorrent.
So the critique is this. Dix rightly encourages a holistic approach to finance. But the sense of the whole stops there. But what is personal finance other than security and well-being? And to fail to recognise that there are other sources of this, that are directly correlated, does those readers a disservice. Investing in an arms company that sells to Israel’s baby killing machine has the effect of reducing our net level of happiness on a daily basis. The author has an opportunity here to talk about finance in a wider sense, in how it impacts lives, and that question should definitely be part of the equation.
I would say, however, that the claim of the book to debunk conventional wisdom about financial choices is something of an exaggeration. Own your own home, balance stocks and bonds in a certain ratio, etc., are not so much as debunked as demonstrated to depend much on one’s own circumstances. And this is where the merit of the book lies, in providing a framework to evaluate one’s own position and act accordingly. Ultimately the choices are going to fall inside most of the conventional ones, just how and when one might make them is rightly going to vary.
I do, however, have a couple of gripes. The first comes to property. Buy to let comes up frequently without even a smidgeon of recognition of the societal impact of this. He recognises property prices have risen in line with or better than inflation, but that is because of decisions by individuals that favour a middle-aged middle class. Artificial scarcity in the housing sector has bad knock on effects – preventing people from getting on the property ladder – which as the author notes is one sure way to have protective assets, but also exacerbating the social and community instability that comes about when people are denied such a thing. Owning a house encourages our common inclinations to husbandry and belief and investment in a community. To simply abstract this concern (equally with investing in fossil fuels for exampke) from its wider societal consequences, might be good for individuals but will not help to create a more equal society. And a more equal, fairer, more compassionate society in the long run might be better for more people, as it might provide many of the benefits that are aspired to by the desire for financial freedom.
Relatedly, a strong message in the book is to earn more. The author encourages industry but does not encourage us to evaluate potential choices on an ethical plane. Again, society. Here a bit of Marxian economics would help. A social media influencer does not create new value. They do not add to the net worth of an economy. All they do is shift money into their own pockets that would otherwise go elsewhere. Obviously this book is for individuals seeking financial freedom so it comes down to personal choices but I do wonder if the people excited by dropshipping or affiliate marketing or shamelessly promoting brands, or bitcoin for that matter, ever really pause to evaluate their actions with regard to social responsibility. I was fascinated by bitcoin as a means of exchange, but as a carbon-hungry vehicle merely to augment personal wealth I find it rather abhorrent.
So the critique is this. Dix rightly encourages a holistic approach to finance. But the sense of the whole stops there. But what is personal finance other than security and well-being? And to fail to recognise that there are other sources of this, that are directly correlated, does those readers a disservice. Investing in an arms company that sells to Israel’s baby killing machine has the effect of reducing our net level of happiness on a daily basis. The author has an opportunity here to talk about finance in a wider sense, in how it impacts lives, and that question should definitely be part of the equation.
July 20, 2025
This book offers a refreshing take on personal finance, aiming to dispel common money myths while providing a clear framework for wealth accumulation. What immediately caught my attention was the author's unique division of wealth building into three distinct "buckets": protect, maintain, and improve.
The protect bucket, as I understand it, focuses on safeguarding your existing financial well-being. This likely covers essential aspects like building an emergency fund, securing adequate insurance, and managing debt effectively to prevent financial setbacks.
The maintain bucket then delves into preserving your current financial standing and ensuring your money keeps pace with inflation. This probably involves consistent saving habits and perhaps exploring lower-risk investments that offer stable, albeit modest, returns.
Finally, the improve bucket is where the real growth happens. While this section seemed less explicitly detailed, it makes sense that it needs to be tailored to individual circumstances. This bucket is undoubtedly about strategic investing for capital growth, exploring diverse asset classes, and potentially even personal development to increase earning potential.
One of the book's strengths lies in its emphasis on diversification, offering a comprehensive list of avenues for spreading investments. This is particularly helpful, especially when starting with limited capital. While I don't anticipate a radical shift in my current investment approach, this book serves as an excellent reminder of fundamental principles and has certainly prompted me to consider increasing my portfolio's diversification.
The protect bucket, as I understand it, focuses on safeguarding your existing financial well-being. This likely covers essential aspects like building an emergency fund, securing adequate insurance, and managing debt effectively to prevent financial setbacks.
The maintain bucket then delves into preserving your current financial standing and ensuring your money keeps pace with inflation. This probably involves consistent saving habits and perhaps exploring lower-risk investments that offer stable, albeit modest, returns.
Finally, the improve bucket is where the real growth happens. While this section seemed less explicitly detailed, it makes sense that it needs to be tailored to individual circumstances. This bucket is undoubtedly about strategic investing for capital growth, exploring diverse asset classes, and potentially even personal development to increase earning potential.
One of the book's strengths lies in its emphasis on diversification, offering a comprehensive list of avenues for spreading investments. This is particularly helpful, especially when starting with limited capital. While I don't anticipate a radical shift in my current investment approach, this book serves as an excellent reminder of fundamental principles and has certainly prompted me to consider increasing my portfolio's diversification.
March 22, 2026
I picked this up at an airport before a flight, and as someone who is, admittedly, pretty clueless about money beyond "I need it to buy things" - this book felt like a good introduction to the basics.
I enjoyed the historical perspective - how money has evolved and how different today's financial world is compared to the past. It helped me better understand concepts like inflation and interest rates in a way that made sense, especially in terms of what it means for money just sitting in a bank account quietly losing value.
The book does a great job of challenging common assumptions and making finance feel more accessible. That said, some ideas felt a bit simplified. For example, advice like "save less and earn more" is logically sound but not always practical or actionable for everyone.
I also couldn't help but feel that, despite being relatively recent, the financial landscape is already shifting again - particularly with the rise of AI and how it might impact jobs, income, and opportunities in the very near future.
Overall, I enjoyed it. It's an easy read that's ideal for beginners who want to start thinking differently about money without being overwhelmed!!
I enjoyed the historical perspective - how money has evolved and how different today's financial world is compared to the past. It helped me better understand concepts like inflation and interest rates in a way that made sense, especially in terms of what it means for money just sitting in a bank account quietly losing value.
The book does a great job of challenging common assumptions and making finance feel more accessible. That said, some ideas felt a bit simplified. For example, advice like "save less and earn more" is logically sound but not always practical or actionable for everyone.
I also couldn't help but feel that, despite being relatively recent, the financial landscape is already shifting again - particularly with the rise of AI and how it might impact jobs, income, and opportunities in the very near future.
Overall, I enjoyed it. It's an easy read that's ideal for beginners who want to start thinking differently about money without being overwhelmed!!
December 26, 2025
It was an interesting read - some of the myths I was already aware
- Diversification: classic E.g. Warren Buffet placed calculated bets which helped him kickstart the exponential S-curve hockey-stick growth in his networth portfolio. It wouldn't have been possible with just safe diversified SP500 investing.
What was new - categorisation of the entire portfolio into 3 buckets
Protect
Maintain
Improve
Rethinking the strategy and compartmentalise it into these 3 separate groups so you know what you're trying to achieve with each of them.
I had learnt from Rich dad poor dad that the house you live in can't be called an asset [since it doesn't generate income/cashflow and the equity growth isn't usable/realisable unless you are willing to sell it and rent or downsize]. But Rob's approach classifies house into "Protect" bucket.
Another key point was - Rob challenges notion that previous held believes still hold true in 2025. He believes that the economic landscape has vastly changed from 70s [decoupling link between gold and USD, i.e. ending gold standard] or dotcom bubble or the historically low sustained interest rates of 2010s. He reckons we're in for tougher financial climate - longer periods of heightened inflation/interest rates and continued bouts of inflation spikes. This makes Cash increasingly debilitating from inflation hedge standpoint [definitely cant use to improve/maintain]. At best it can protect, though that's limited too.
Myth about compounding was bit of an odd-ball. Compounding is real, it however takes long time and needs consistency. So yes, it's a myth that it'll make you wealthy quickly. But compounding is inevitably a part of all the wealthy. At best, it forms a part of Maintain bucket.
One key takeaway from the book for me personally was the need to look beyond stocks & bonds as means of effective diversification i.e. gold, bitcoin. I dabbled with REIT of Rob's own company which performed miserably in the 3 years [since 2022]. I lost money on it in real-terms [adjusting for inflation]. So it's a bit ironical to still read Rob's book and philosophy. But I still feel that the rationale he presents is sound and worth giving a thought to.
- Diversification: classic E.g. Warren Buffet placed calculated bets which helped him kickstart the exponential S-curve hockey-stick growth in his networth portfolio. It wouldn't have been possible with just safe diversified SP500 investing.
What was new - categorisation of the entire portfolio into 3 buckets
Protect
Maintain
Improve
Rethinking the strategy and compartmentalise it into these 3 separate groups so you know what you're trying to achieve with each of them.
I had learnt from Rich dad poor dad that the house you live in can't be called an asset [since it doesn't generate income/cashflow and the equity growth isn't usable/realisable unless you are willing to sell it and rent or downsize]. But Rob's approach classifies house into "Protect" bucket.
Another key point was - Rob challenges notion that previous held believes still hold true in 2025. He believes that the economic landscape has vastly changed from 70s [decoupling link between gold and USD, i.e. ending gold standard] or dotcom bubble or the historically low sustained interest rates of 2010s. He reckons we're in for tougher financial climate - longer periods of heightened inflation/interest rates and continued bouts of inflation spikes. This makes Cash increasingly debilitating from inflation hedge standpoint [definitely cant use to improve/maintain]. At best it can protect, though that's limited too.
Myth about compounding was bit of an odd-ball. Compounding is real, it however takes long time and needs consistency. So yes, it's a myth that it'll make you wealthy quickly. But compounding is inevitably a part of all the wealthy. At best, it forms a part of Maintain bucket.
One key takeaway from the book for me personally was the need to look beyond stocks & bonds as means of effective diversification i.e. gold, bitcoin. I dabbled with REIT of Rob's own company which performed miserably in the 3 years [since 2022]. I lost money on it in real-terms [adjusting for inflation]. So it's a bit ironical to still read Rob's book and philosophy. But I still feel that the rationale he presents is sound and worth giving a thought to.
Read
February 5, 2025Key takeaways:
1) Government debt is high + Interest rates are unlikely to be as low as what we’ve seen over a decade >> Government will want to maintain certain level of inflation >> Our pay is unlikely to increase in line with inflation in time while cost of living will definitely increase, our purchasing power is set to be eroded faster than we would like >> Need to get our finance in order to at least protect our purchasing power
2) Need to spend time sorting out the right size of our protected bucket, maintenance bucket and growth bucket. Reflections: majority of my money is in the maintenance bucket waiting for compound interest to work out its magic. While this is the right thing to do I will have to wait for long before obtaining the financial independence I want. Definitely need to think about my own growth bucket!
1) Government debt is high + Interest rates are unlikely to be as low as what we’ve seen over a decade >> Government will want to maintain certain level of inflation >> Our pay is unlikely to increase in line with inflation in time while cost of living will definitely increase, our purchasing power is set to be eroded faster than we would like >> Need to get our finance in order to at least protect our purchasing power
2) Need to spend time sorting out the right size of our protected bucket, maintenance bucket and growth bucket. Reflections: majority of my money is in the maintenance bucket waiting for compound interest to work out its magic. While this is the right thing to do I will have to wait for long before obtaining the financial independence I want. Definitely need to think about my own growth bucket!
April 20, 2025
A reasonable read, but not particularly relevant for me. Possibly even fiscally reckless for some. However, I can see this landing well for millennials and certainly gen Zs.
What I found slightly irritating was this assumption that everyone will want (and could) work into retirement. Clearly untrue and a dangerous assumption.
Would like to have seen some acknowledgment about the future of work and the impact AI will have. Nothing mentioned about it at all. Work as we know it will look remarkably different even in just a few years. It might force an entirely new economic model where ‘time is money’ becomes a thing of the past.
What I found slightly irritating was this assumption that everyone will want (and could) work into retirement. Clearly untrue and a dangerous assumption.
Would like to have seen some acknowledgment about the future of work and the impact AI will have. Nothing mentioned about it at all. Work as we know it will look remarkably different even in just a few years. It might force an entirely new economic model where ‘time is money’ becomes a thing of the past.
January 31, 2025
I am a huge fun of Rob from his previous book the Price of Money which I have gifted to many close friends so I rushed to buy his newest book. Unfortunately I was disappointed, there is nothing particularly wrong with it but there is also nothing notable except if you are an absolute beginner on personal finance. Felt more like one of the personal finance books of follow my 8 step framework rather than Rob providing the level of deep education that he did in the Price of Money. Title is also a tad clickbait
Read
March 15, 2026Written in a conversational, no-nonsense style that makes complex financial concepts accessible without dumbing them down. Unlike many personal finance books that either oversimplify or overwhelm, this strikes a good balance. It feels like a much-needed update to books like The Richest Man in Babylon. Rob has a gift for making complex economic shifts (like the end of the low-inflation era) feel relevant to your daily bank balance.
I would recommend this to anyone early in their financial journey who feels overwhelmed by conflicting money advice.
I would recommend this to anyone early in their financial journey who feels overwhelmed by conflicting money advice.
April 6, 2025
Always a fan of Robs takes! Refreshing, modern and clearly structured take on personal finance. I like that it isn’t too focused on one country, and isn’t too US/UK-centric as the principals are multi jurisdictional. Easy to read cover to cover and feels like the kind of book you can go back to over again (similar to his first book, and other similar ones like Set For Life, Rich Dad poor dad etc)
January 26, 2025
Thought provoking, pragmatic financial guidance for the modern world
Worthwhile read for those looking to improve their financial know-how in today’s world. Rob writing is clear and relatable and he provides a great framework for thinking about your finances whilst discussing his money myths.
Worthwhile read for those looking to improve their financial know-how in today’s world. Rob writing is clear and relatable and he provides a great framework for thinking about your finances whilst discussing his money myths.
February 15, 2025
This is another interesting book by Rob Dix, where he emphasizes that the changes in the world of money and finance have meant the key to gaining financial freedom today involves a different approach to the one we are normally told to follow.
He provides much to think about, and the content is relatively easy to follow.
He provides much to think about, and the content is relatively easy to follow.
March 6, 2026
A really great book on personal finance, especially for anyone knew to the topic. Info is covered in an interesting and honest way, without over sensationalising things. I also like how it emphasises focus on finding a job you actually like, rather than just selling investing as a way to avoid working.
January 21, 2025
This was an enjoyable, easy read which debunked common money myths. Only downside is that it was relatively spenny for a short (3hr) read!
February 10, 2025
Enjoyed this, got me thinking about my own strategy with money 💰
February 28, 2025
I really like Rob Dix. This was good )and a fairly short book). As it contradicts what has been pushed to the masses for years, I think it needs a re-read in time do it sinks in!
March 15, 2025
As someone who knows very little about investments etc, this book was a brilliant place to start! It made a lot of sense and has really helped me understand where I want to take our finances 😃
April 2, 2025
Domestic nice nuggets of financial wisdom. But ultimately, if you want high consistent returns. Property investment is the way.
April 13, 2025
Excellent read that covers the topic from a unique perspective! Lots of wisdom to draw from debunking those seven money myths!
June 5, 2025
Another great book by Rob.
September 23, 2025
Well written with good examples and good action plans and thoughtful explanations of the myths and the possible learnings for us all.
March 8, 2026
Very readable - considers a few interesting takes throughout
January 15, 2026
I only got part way through this book but lost interest partly because there is too much good fiction lying around at the moment wanting to be read. I may try it again in future but for now it's going back to the library.
July 13, 2025
It's been six weeks since I finished this book and you know what? I can't remember a thing about it. Which explains, I guess, the three stars I gave it.
July 27, 2025
As someone who has followed Rob and personal finance teachings for a while, I would not say there was anything glaringly new for me in this read.
However, it is good to constantly challenge ways of thinking and this book certainly made me think of home ownership vs renting pros and cons which is a very interesting way of thinking.
The chapter on the rush to retirement as the ultimate goal and thoughts on why this is wrong also had merit.
Solid 3/5.
However, it is good to constantly challenge ways of thinking and this book certainly made me think of home ownership vs renting pros and cons which is a very interesting way of thinking.
The chapter on the rush to retirement as the ultimate goal and thoughts on why this is wrong also had merit.
Solid 3/5.
May 17, 2025
Interesting and thought provoking read.
Displaying 1 - 28 of 28 reviews