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How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest
The world of investing normally sees experts telling us the "right" way to manage our money. How often do these experts pull back the curtain and tell us how they invest their own money? Never. How I Invest My Money changes that. In this unprecedented collection, 25 financial experts share how they navigate markets with their own capital. In this honest rendering of how they invest, save, spend, give, and borrow, this group of portfolio managers, financial advisors, venture capitalists and other experts detail the "how" and the "why" of their investments. They share stories about their childhood, their families, the struggles they face and the aspirations they hold. Sometimes raw, always revealing, these stories detail the indelible relationship between our money and our values. Taken as a whole, these essays powerfully demonstrate that there is no single "right" way to save, spend, and invest. We see a kaleidoscope of perspectives on stocks, bonds, real assets, funds, charity, and other means of achieving the life one desires. With engaging illustrations throughout by Carl Richards, How I Invest My Money inspires readers to think creatively about their financial decisions and how money figures in the broader quest for a contented life. With contributions from: Morgan Housel, Christine Benz, Brian Portnoy, Joshua Brown, Bob Seawright, Carolyn McClanahan, Tyrone Ross, Dasarte Yarnway, Nina O'Neal, Debbie Freeman, Shirl Penney, Ted Seides, Ashby Daniels, Blair duQuesnay, Leighann Miko, Perth Tolle, Josh Rogers, Jenny Harrington, Mike Underhill, Dan Egan, Howard Lindzon, Ryan Krueger, Lazetta Rainey Braxton, Rita Cheng, Alex Chalekian.
211 pages, Kindle Edition
First published November 17, 2020
331 people are currently reading
1637 people want to read
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Displaying 1 - 30 of 110 reviews
November 22, 2020
I wanted to like this book. I finished it in 3 days. It offers very little practical advice, but rather a collection of personal views on money from financial advisors that all sort of run together.
There was perhaps one chapter of any value. It is more or less a summary of emails from 15 or so advisors that probably took all of 3 hours to collect and publish
Disappointing
There was perhaps one chapter of any value. It is more or less a summary of emails from 15 or so advisors that probably took all of 3 hours to collect and publish
Disappointing
December 7, 2020
You'd be better off reading The Psychology of Money by Morgan Housel or The Geometry of Wealth by Brian Portnoy, both of whom are featured in this short read. A lot of the content hear reads like self-congratulatory blog posts without much actionable advice about how to allocate a portfolio and why.
March 4, 2021
Have you ever wondered how money managers invest their own money?
This book directly addresses that question. It consists of short chapters, each written by a different money manager, that explain how they invest, not their client’s money, but their own money.
The result? For those willing to mine these essays, a mother lode of wisdom awaits. I read the book in one evening, then decided I would get more out of it if I re-read a chapter a night and allowed time to reflect on each one.
The contributors seem to be mostly Generation X-ers and millennials, in their thirties and forties, with career paths ranging from financial planning to venture capital. They are at various stages of success. We meet some who are in the early stages of their careers, many who are established and solidly upper-middle-class, several who are independently wealthy, and a few in the stratosphere.
And how do those who invest millions for others, invest their own funds?
Throughout this book, there is little evidence of exotic investments, complex day trading, or elaborate portfolios. The trend is in the other direction, towards simplicity. Here are my key takeaways of what these managers do with their own money:
--They live below their means, and save. None of them are obsessed with fancy houses or cars, or conspicuous consumption in general.
--Many of them contribute the maximum to their 401(k) plans, Health Savings Accounts, 529 plans, IRAs, and other tax-favored retirement vehicles.
--After maxing their retirement plan contributions, many then invest in ETFs and established growth index funds, such as the S&P 500 index.
--Many of them own their home, free and clear of any mortgage, and have no consumer debt.
--All of them keep a significant cash reserve.
--None of them borrow to invest.
--The great majority are happily married and deeply devoted to their families.
--All of them make giving a part of their lives.
Sound simple? Well, the way to financial independence is not rocket science. It is good habits. Live at a standard that allows you to save, stay out of debt, marry a good partner and stay married, invest in growth mutual funds with a solid track record, give back.
And yet today, 70% of Americans have less than $1,000 in savings. 45% have no savings at all. Consider how all of these lives could be changed, so much for the better.
The issue is clearly in getting people to learn and adopt the above habits. The gap between the knowledge and maturity displayed by these contributors, and the level of knowledge and maturity displayed by their demographic peers in entertainment and social media, is approximately the distance to the next galaxy.
One solution would be to make courses in investing, including this book as a textbook, mandatory in elementary and high schools. But that’s a topic for another article.
The great majority of these contributors, by the way, do not come from wealth. To the contrary, many came from families where their parents knew nothing about investing and made poor financial decisions. The resulting unhappiness inspired many of the contributors, during their childhood and adolescence, to resolve that that their lives would be different.
And they have created unique life stories that are a window into the infinite possibilities of the human condition.
One started out in medical school. She became a successful ER physician. Then, in searching for a financial planner, she fell in love with investing. She went back to school, became a CFP, and now has a thriving financial planning practice.
Another contributor lists as his greatest investment a humble vacation cottage that has been in his family for generations. It is his greatest investment, not because it makes money (it doesn’t), but because it has given him and his extended family the happiest moments of their lives. The magic of compound interest also applies to compounding the growth of human relationships.
Of the many inspiring stories in this book, my favorite is that of a lady named Perth Tolle.
Ms. Tolle is the founder of Life and Liberty Indexes, and the creator of the Freedom 100 Emerging Markets ETF. This is an ETF that ranks countries based on the level of personal and economic freedom, and invests accordingly, in the countries with the highest rankings of liberty.
An EFT based on individual freedom is as striking as it is unique. How did Ms. Tolle get called to such an endeavor? Her website diplomatically states that she “worked in Beijing and Hong Kong, where her observations led her to explore the relationship between freedom and markets.”
In other words, if I may extrapolate, Ms. Tolle experienced life under both freedom and tyranny. First-hand, up close, and personal. Her experiences led her to a deeply-held belief that freedom is the path, not only to lasting economic growth, but to the flourishing of the human spirit.
To create a business that not only inspires the growth of wealth, but the growth of human freedom? That’s quite a way to leave your mark on the world.
This book directly addresses that question. It consists of short chapters, each written by a different money manager, that explain how they invest, not their client’s money, but their own money.
The result? For those willing to mine these essays, a mother lode of wisdom awaits. I read the book in one evening, then decided I would get more out of it if I re-read a chapter a night and allowed time to reflect on each one.
The contributors seem to be mostly Generation X-ers and millennials, in their thirties and forties, with career paths ranging from financial planning to venture capital. They are at various stages of success. We meet some who are in the early stages of their careers, many who are established and solidly upper-middle-class, several who are independently wealthy, and a few in the stratosphere.
And how do those who invest millions for others, invest their own funds?
Throughout this book, there is little evidence of exotic investments, complex day trading, or elaborate portfolios. The trend is in the other direction, towards simplicity. Here are my key takeaways of what these managers do with their own money:
--They live below their means, and save. None of them are obsessed with fancy houses or cars, or conspicuous consumption in general.
--Many of them contribute the maximum to their 401(k) plans, Health Savings Accounts, 529 plans, IRAs, and other tax-favored retirement vehicles.
--After maxing their retirement plan contributions, many then invest in ETFs and established growth index funds, such as the S&P 500 index.
--Many of them own their home, free and clear of any mortgage, and have no consumer debt.
--All of them keep a significant cash reserve.
--None of them borrow to invest.
--The great majority are happily married and deeply devoted to their families.
--All of them make giving a part of their lives.
Sound simple? Well, the way to financial independence is not rocket science. It is good habits. Live at a standard that allows you to save, stay out of debt, marry a good partner and stay married, invest in growth mutual funds with a solid track record, give back.
And yet today, 70% of Americans have less than $1,000 in savings. 45% have no savings at all. Consider how all of these lives could be changed, so much for the better.
The issue is clearly in getting people to learn and adopt the above habits. The gap between the knowledge and maturity displayed by these contributors, and the level of knowledge and maturity displayed by their demographic peers in entertainment and social media, is approximately the distance to the next galaxy.
One solution would be to make courses in investing, including this book as a textbook, mandatory in elementary and high schools. But that’s a topic for another article.
The great majority of these contributors, by the way, do not come from wealth. To the contrary, many came from families where their parents knew nothing about investing and made poor financial decisions. The resulting unhappiness inspired many of the contributors, during their childhood and adolescence, to resolve that that their lives would be different.
And they have created unique life stories that are a window into the infinite possibilities of the human condition.
One started out in medical school. She became a successful ER physician. Then, in searching for a financial planner, she fell in love with investing. She went back to school, became a CFP, and now has a thriving financial planning practice.
Another contributor lists as his greatest investment a humble vacation cottage that has been in his family for generations. It is his greatest investment, not because it makes money (it doesn’t), but because it has given him and his extended family the happiest moments of their lives. The magic of compound interest also applies to compounding the growth of human relationships.
Of the many inspiring stories in this book, my favorite is that of a lady named Perth Tolle.
Ms. Tolle is the founder of Life and Liberty Indexes, and the creator of the Freedom 100 Emerging Markets ETF. This is an ETF that ranks countries based on the level of personal and economic freedom, and invests accordingly, in the countries with the highest rankings of liberty.
An EFT based on individual freedom is as striking as it is unique. How did Ms. Tolle get called to such an endeavor? Her website diplomatically states that she “worked in Beijing and Hong Kong, where her observations led her to explore the relationship between freedom and markets.”
In other words, if I may extrapolate, Ms. Tolle experienced life under both freedom and tyranny. First-hand, up close, and personal. Her experiences led her to a deeply-held belief that freedom is the path, not only to lasting economic growth, but to the flourishing of the human spirit.
To create a business that not only inspires the growth of wealth, but the growth of human freedom? That’s quite a way to leave your mark on the world.
January 3, 2021
Nada especialmente novedoso, aparte de agrupar a 25 expertos compartiendo sus experiencias y consejos. Mucha disciplina en el ahorro, largo plazo, planear para lo inesperado e invertir alineados con nuestra manera de ver la vida son temas comunes en los 25. Un concepto que me llamo la atención fue el de “money stories”, cómo nuestra historia familiar alrededor de las finanzas le da forma a nuestra estrategia de inversión.
November 24, 2020
Look behind the curtains
Refreshing and insightful read into how “finance” people manage their own investments.
The book is a series of clearly written personal stories from each person providing:
- details on the background
- explanations on what money means to them
- the how and why they invest
- information on what they hope to achieve from said investments
The term “human capital” came up many times and there was a consistent theme throughout the book of “wanting to use their proceeds and gains” for better.
Overall, I found the book contained several bits of advice that I will be taking with me.
Refreshing and insightful read into how “finance” people manage their own investments.
The book is a series of clearly written personal stories from each person providing:
- details on the background
- explanations on what money means to them
- the how and why they invest
- information on what they hope to achieve from said investments
The term “human capital” came up many times and there was a consistent theme throughout the book of “wanting to use their proceeds and gains” for better.
Overall, I found the book contained several bits of advice that I will be taking with me.
January 6, 2021
Realistic and pragmatic overview of how some of the best finance experts manage their money. Many of their decisions are shockingly simple and replicable.
December 13, 2023
The book gives an unique insight into how financial experts go about building and managing their portfolios. One key take away for me from the book Is that our upbringing and our parents relationship with money will largely influence most of our financial decisions. The book is more of a collection of essays from leading financial advisors and doesn’t provide a blueprint on how we should go about investing our money.
June 29, 2021
Interesting insight on how wealth managers actually invest their own money. Not surprisingly, most of them do it through holding good ol’ low cost index funds
November 17, 2022
I like this book.
June 29, 2021
This book is a collection of essays. Some are well-written and some read like slightly lengthy emails that lack editing. A couple are absolute gems. A couple demonstrated some rather shocking misconceptions from so-called experts. Very few of these people are the true A-list thought leaders in the personal finance domain. There was a surprising lean towards actively managed mutual funds, with a decent amount of behavior biases threaded into that choice. I'd love a second edition with essays from Paul Merriman, Larry Swedroe, Ben Felix, even Eugene Fama if we're shooting big. All told, I love the concept of this book, but thought the execution was subpar.
Gems:
P83 “We believe success is best when shared and when we have 50 people at one of our homes, or in the winners circle with us, you can’t put a price tag on that ‘investment.’” - Shirl Penny
P96 “Few people discuss the impact lifestyle choices can have on their financial future, but I believe it will account for about 80% or more of our personal financial destiny.” - Ashly Daniels
P130 “Money and the accumulation of wealth works like the circulation of blood within the body. If a person is always worried about their money, afraid of risk and loss, tight-fisted, not charitable, suspicious, obsessed about fees, etc., it is akin to tying a tourniquet on a limb of the body--you cut off the proper circulation and flow of blood which leads to amputation or death. Instead, keep the money moving! Be generous, take risks with your investments, let other people make money too, invest in people who you like and trust. This kind of approach creates an energy of giving and positivity which results in more circulation, more abundance, and thus abundant investment returns (but also spiritual returns.)” - Joshua Rogers
P163 “I wonder if the greatest trick the devil ever played on investors is making them think it is the investing part that matters most. The working part moves the needle more, both for the math of deposits but also in the discipline of a purpose.” - Ryan Krueger
The most aspirational and thought-provoking essay was that of Bob Seawright. He discusses the stories being told as his relative lay on her deathbed, and how all these stories centered around her cottage in the Adirondacks. He details what lousy investments both it and the second cottage that he purchased are, but how none of that matters because of the value of the fun times that are had there. Really well-written essay and great, healthy outlook on understanding when something is a purchase rather than an investment, and having strong reasons for making the purchase and valuing life experiences above all else.
Gems:
P83 “We believe success is best when shared and when we have 50 people at one of our homes, or in the winners circle with us, you can’t put a price tag on that ‘investment.’” - Shirl Penny
P96 “Few people discuss the impact lifestyle choices can have on their financial future, but I believe it will account for about 80% or more of our personal financial destiny.” - Ashly Daniels
P130 “Money and the accumulation of wealth works like the circulation of blood within the body. If a person is always worried about their money, afraid of risk and loss, tight-fisted, not charitable, suspicious, obsessed about fees, etc., it is akin to tying a tourniquet on a limb of the body--you cut off the proper circulation and flow of blood which leads to amputation or death. Instead, keep the money moving! Be generous, take risks with your investments, let other people make money too, invest in people who you like and trust. This kind of approach creates an energy of giving and positivity which results in more circulation, more abundance, and thus abundant investment returns (but also spiritual returns.)” - Joshua Rogers
P163 “I wonder if the greatest trick the devil ever played on investors is making them think it is the investing part that matters most. The working part moves the needle more, both for the math of deposits but also in the discipline of a purpose.” - Ryan Krueger
The most aspirational and thought-provoking essay was that of Bob Seawright. He discusses the stories being told as his relative lay on her deathbed, and how all these stories centered around her cottage in the Adirondacks. He details what lousy investments both it and the second cottage that he purchased are, but how none of that matters because of the value of the fun times that are had there. Really well-written essay and great, healthy outlook on understanding when something is a purchase rather than an investment, and having strong reasons for making the purchase and valuing life experiences above all else.
January 8, 2021
How I Invest My Money is a concise, insightful series of essays by personal finance experts and financial advisors about how they invest their own money and - perhaps more intriguing - why.
I enjoyed the diverse perspectives provided by this collection of essays. It was interesting to see the many different ways the contributors invested their money and refreshing to see that most all of them "drank their own Kool-Aid" by using the same approach and investments they recommend to their clients.
While each contributor had a different approach to their investments and reasons why they invest the way they do, I noted a few themes that emerged:
- Several contributors have paid-off their mortgages. The peace of mind of owning their primary homes outright outweighs the "on paper" financial benefits of maintaining a mortgage at a low rate and investing the difference
- Many contributors have what may be considered "high" cash holdings by traditional standards. Again, to provide additional peace of mind and stability given that many of them are business owners
- Not surprisingly, buy-and-hold index investing was the core of many of the contributors' strategies with other methods used to supplement this approach for various reasons
- Being owners of their own advisory firms, many of the contributors are business owners who continue to "bet on themeselves" by having large portions of their personal wealth in their businesses
- Similarly, many of the contributors wrote about the importance of investing in their "human capital" - their ability to earn income from their skills and talents - being just as important as their financial capital used for investing
- Many of the contributors invest in businesses or opportunities from friends and collegues in the finance world
I'd recommend this book to anyone looking to get a diverse perspective on investment philosophy and strategy from people who live and breath finance on a daily basis. Having said that, it should be noted that this is not a book about HOW to invest YOUR money. If you're looking for a book on tactical guidance for WHY and HOW to invest, I'd recommend Portnoy's "The Geometry of Wealth".
I enjoyed the diverse perspectives provided by this collection of essays. It was interesting to see the many different ways the contributors invested their money and refreshing to see that most all of them "drank their own Kool-Aid" by using the same approach and investments they recommend to their clients.
While each contributor had a different approach to their investments and reasons why they invest the way they do, I noted a few themes that emerged:
- Several contributors have paid-off their mortgages. The peace of mind of owning their primary homes outright outweighs the "on paper" financial benefits of maintaining a mortgage at a low rate and investing the difference
- Many contributors have what may be considered "high" cash holdings by traditional standards. Again, to provide additional peace of mind and stability given that many of them are business owners
- Not surprisingly, buy-and-hold index investing was the core of many of the contributors' strategies with other methods used to supplement this approach for various reasons
- Being owners of their own advisory firms, many of the contributors are business owners who continue to "bet on themeselves" by having large portions of their personal wealth in their businesses
- Similarly, many of the contributors wrote about the importance of investing in their "human capital" - their ability to earn income from their skills and talents - being just as important as their financial capital used for investing
- Many of the contributors invest in businesses or opportunities from friends and collegues in the finance world
I'd recommend this book to anyone looking to get a diverse perspective on investment philosophy and strategy from people who live and breath finance on a daily basis. Having said that, it should be noted that this is not a book about HOW to invest YOUR money. If you're looking for a book on tactical guidance for WHY and HOW to invest, I'd recommend Portnoy's "The Geometry of Wealth".
October 16, 2021
I enjoyed reading this book and will definitely reference some of the chapters in the future. This book was great for me because I'm about year in seriously investing in the stock market and in crypto and hearing other people's investment/money stories is not only inspiring but also very entertaining. This book confirmed that there is no one size fits all when it comes to investing. And I think that's one of the few reasons why it turns so many people away from investing. I find comforting to know I can map out my own financial investments and not follow anyone else's and still find success. All it takes is discipline, consistency and chronic studying
If you are new to investing/currently investing, or just want to do better financially, give this book a try!
If you are new to investing/currently investing, or just want to do better financially, give this book a try!
July 8, 2021
I was looking forward to reading this. However, once you get past Morgan and Christine Benz, most of it is incoherent and they don’t give you much except childhood stories and a general view. One guy puts his money in art and booze. Don’t think I would hire many of them A few even run off into social justice warrior territory. Save your time and read Morgan Housal’s book the Psychology of money instead. It includes his chapter from this book and is 10 times more useful.
July 16, 2021
This book is worth reading for the essays that resonate with your own experiences with finance, saving, and investing. I was sometimes surprised and mostly comforted by what the contributors have to say. There are insights here and there that I plan to follow up on, but this is not an investment advice book—it’s more like visiting the home of professional chefs and seeing how they really cook for themselves and their families.
February 3, 2021
Great idea for a book and some really great examples and concepts presented. As might be expected with chapter contributions from so many different authors, readers will likely come away with bits and pieces of useful info from certain chapters/authors, rather than getting value from every chapter in the book.
June 5, 2021
What do you own, and why?
You have to find what works for you. Here is what work for me.
You should have high saving rate.
The simple investment strategies can work great as long as they capture the few things that are important to the strategy’s success.
No matter how we save or invest I am sure we will always have the goal of independence.
There is frequently a gaping hole between the life people say they want and the life they live.
It is not how much you save; it is how much you spend.
Money and how er invest id is just an extension of who we are.
I believe that I have the opportunity to never miss one of life precious moments.
If you want to judge the character of a man, judge not his words but his action.
Whether it is too short or very long, we have to prepare to live well both the present and, in the future,
Be consistent and disciplined with your long-term goals, but do not get so fixed on the future that you forget to enjoy today.
You have exactly one life in which to do everything you will ever do. act accordingly.
We believe success is best when shared.
Pursue your passion.
Hard work earns money.
Poor people are lazy.
Owning our story can be hard but not nearly as difficult as spending our lives running from it.
Do I really value this?
Sometimes people become owned by their money and possessions.
Human capital is when you bring value to an organization by utilizing your skills, knowledge and experience.
We should invest in ourselves.
Sometimes people make thing more complicated than they need to be.
Money means different thing to different people based on their experiences and values.
Women need to learn as much as possible about money.
Money is the tool that is needed to help make sure we can make our families healthy.
Don’t tell me what you think, tell me what you have in your portfolio.
Money can buy happiness.
Money solves problems.
Money is an expression of our values and our identity.
You have to find what works for you. Here is what work for me.
You should have high saving rate.
The simple investment strategies can work great as long as they capture the few things that are important to the strategy’s success.
No matter how we save or invest I am sure we will always have the goal of independence.
There is frequently a gaping hole between the life people say they want and the life they live.
It is not how much you save; it is how much you spend.
Money and how er invest id is just an extension of who we are.
I believe that I have the opportunity to never miss one of life precious moments.
If you want to judge the character of a man, judge not his words but his action.
Whether it is too short or very long, we have to prepare to live well both the present and, in the future,
Be consistent and disciplined with your long-term goals, but do not get so fixed on the future that you forget to enjoy today.
You have exactly one life in which to do everything you will ever do. act accordingly.
We believe success is best when shared.
Pursue your passion.
Hard work earns money.
Poor people are lazy.
Owning our story can be hard but not nearly as difficult as spending our lives running from it.
Do I really value this?
Sometimes people become owned by their money and possessions.
Human capital is when you bring value to an organization by utilizing your skills, knowledge and experience.
We should invest in ourselves.
Sometimes people make thing more complicated than they need to be.
Money means different thing to different people based on their experiences and values.
Women need to learn as much as possible about money.
Money is the tool that is needed to help make sure we can make our families healthy.
Don’t tell me what you think, tell me what you have in your portfolio.
Money can buy happiness.
Money solves problems.
Money is an expression of our values and our identity.
October 27, 2021
As an investment advisor and passionate reader I have told many people over the years that most books about investing are terrible. I have read hundreds of them and only strongly recommend maybe 10 of them. Add this one to the list.
I will say that this book is excellent for one of two people: 1) investment advisors and 2) folks really interested in investing. Everyone else should stay away and just hire an investment advisor or open an account at Vanguard, fund and invest it, and throw the login information away. If you don't like investing stop reading this review now and move on.
I found this particularly helpful because it gives the reader an opportunity to look through different lenses on how people view investing and money. I tell my team all the time that everyone has a different view on investing and money because each person has a unique experience with these things during their lifetime. This book is exhibit A of this theory because it is a compilation of people who work with money and they all have different opinions.
The chapters are short and many are packed full of good information. It provides a different look at investing compared to many other "how to" books. It discusses money psychology and decision making and ultimately gives the reader lots of think about.
Again for those that don't enjoy investing you can ignore this read, but for those who are interested in this topic I highly recommend this read.
I will say that this book is excellent for one of two people: 1) investment advisors and 2) folks really interested in investing. Everyone else should stay away and just hire an investment advisor or open an account at Vanguard, fund and invest it, and throw the login information away. If you don't like investing stop reading this review now and move on.
I found this particularly helpful because it gives the reader an opportunity to look through different lenses on how people view investing and money. I tell my team all the time that everyone has a different view on investing and money because each person has a unique experience with these things during their lifetime. This book is exhibit A of this theory because it is a compilation of people who work with money and they all have different opinions.
The chapters are short and many are packed full of good information. It provides a different look at investing compared to many other "how to" books. It discusses money psychology and decision making and ultimately gives the reader lots of think about.
Again for those that don't enjoy investing you can ignore this read, but for those who are interested in this topic I highly recommend this read.
September 29, 2024
In my view, this book deserves five stars, mainly, for the originality of its idea. Audio, visual and written content is saturated with philosophies, theories, analysis and advice form the financial industry professionals to the extent that you wonder, what do those individuals do with their own money and do they follow their own advice. The book is a collection of essays form diffident investment experts with different backgrounds, different needs, and perceptions of wealth.
The essays written for the book came with a number of pleasant surprises:
1. For the majority of them, you will actually know how they construct their investment portfolios, which I found very instrumental to help me think how I want to build my own.
2. I found great reassurance due to the consensus around repetitive investment pattern, which is mainly: low-cost index dollar cost averaging.
3. A few eye-openers, that are as important as the investment discissions themselves, if not more, such as the tax cost management.
4. A few insights and nuggets of wisdom from the participants that goes beyond investments and more on the broader life aspects such as family, charity and fun.
I enjoyed this read and I highly recommend it especially to everyone interested in building a personal investment portfolio.
The essays written for the book came with a number of pleasant surprises:
1. For the majority of them, you will actually know how they construct their investment portfolios, which I found very instrumental to help me think how I want to build my own.
2. I found great reassurance due to the consensus around repetitive investment pattern, which is mainly: low-cost index dollar cost averaging.
3. A few eye-openers, that are as important as the investment discissions themselves, if not more, such as the tax cost management.
4. A few insights and nuggets of wisdom from the participants that goes beyond investments and more on the broader life aspects such as family, charity and fun.
I enjoyed this read and I highly recommend it especially to everyone interested in building a personal investment portfolio.
February 14, 2021
My review of this book is going to be a little bit different, but as a recovering drug addict and alcoholic, I really appreciated this book. Why? Well, I'm a new investor, and this book is a collection of short chapters from a lot of successful investors. Brown and Portnoy decided to ask a bunch of financial planners how they invest their money, and it reminded me of 12-step meetings. In a 12-step meeting, you listen to people who are doing the thing you want to do (in this case, investing wisely), and then you see which strategies might work for you.
This book covers the whole gambit of investing, and there were some strategies that resonated with me more than others. There were chapters from people who are risk-averse, long-term investors like myself, and there were even some who discussed how they allocate some of their money towards charitable giving. But there are also some higher-risk investors in here, which isn't my style, but it might be yours. As a new investor, there was some lingo in here that went over my head, but I was still able to grasp a lot of the concepts.
This book covers the whole gambit of investing, and there were some strategies that resonated with me more than others. There were chapters from people who are risk-averse, long-term investors like myself, and there were even some who discussed how they allocate some of their money towards charitable giving. But there are also some higher-risk investors in here, which isn't my style, but it might be yours. As a new investor, there was some lingo in here that went over my head, but I was still able to grasp a lot of the concepts.
May 25, 2022
Bit of a disappointing reading. The premise created high expectations for me, because it is indeed rare to hear from successful investors not only on how they invest, but also manage their own money. However, after a couple chapters it quickly loses its trail. Some chapters sound A LOT like the self-congratulatory stuff you read daily on LinkedIn. Others like some blog post with no real insight. And some I'd even say sound like nothing but bragging for 5 straight pages.
I found 2 (3 max) chapters of use with some good advice, not only on how they invest but on the philosophical approach to it. The conclusion of the book also made me shoot it some more bail. That's because it seems unfair to judge the contributors, when they were given no instructions on what to write, and only provided with one of the writer's blog post on the subject.
Overall, it would be worth a skim. But for real insight, there are tons of investing books to choose from. My favorite being Howard Marks' " The Most Important Thing : Uncommon Sense for the Thoughtful Investor"
I found 2 (3 max) chapters of use with some good advice, not only on how they invest but on the philosophical approach to it. The conclusion of the book also made me shoot it some more bail. That's because it seems unfair to judge the contributors, when they were given no instructions on what to write, and only provided with one of the writer's blog post on the subject.
Overall, it would be worth a skim. But for real insight, there are tons of investing books to choose from. My favorite being Howard Marks' " The Most Important Thing : Uncommon Sense for the Thoughtful Investor"
May 2, 2024
Why read:
Diverse perspectives of how industry expert invest. Reinforces why asking your advisor how they invest is important and the insights you can gain from the question.
Quote:
“Stories might inspire, but the words and sentences which constitute them are governed by rules. Money, too, has its own grammar and we are best served by learning it. One of the joys in editing this book was seeing firsthand how people I respect built processes for solving problems we all confront.”
Themes
• Money can buy happiness. (If you understand what really matters to you and use money as a tool to reach those goals.)
• Money is an expression of our values and our identity. (Are you an ESG investor. Does your financial plan includes donations after you’re gone.)
• Money scripts matter. (What are the stories we tell ourselves about money,)
• Financial capital is only one of our assets. (Human capital and our ability to earn income. Social capital and our relationship.)
• Process matters and expertise matter. (Active investing often underperforms the market.)
• Investing is a skillful (and personal) art. (And it’s how we apply that allows us to use money in a way that aligns to our values and meets our goals.)
• We are mostly alone in solving common problems - but we don’t have to be. (Let’s take the mystery and shame away from money by talking with our family and friends.)
Diverse perspectives of how industry expert invest. Reinforces why asking your advisor how they invest is important and the insights you can gain from the question.
Quote:
“Stories might inspire, but the words and sentences which constitute them are governed by rules. Money, too, has its own grammar and we are best served by learning it. One of the joys in editing this book was seeing firsthand how people I respect built processes for solving problems we all confront.”
Themes
• Money can buy happiness. (If you understand what really matters to you and use money as a tool to reach those goals.)
• Money is an expression of our values and our identity. (Are you an ESG investor. Does your financial plan includes donations after you’re gone.)
• Money scripts matter. (What are the stories we tell ourselves about money,)
• Financial capital is only one of our assets. (Human capital and our ability to earn income. Social capital and our relationship.)
• Process matters and expertise matter. (Active investing often underperforms the market.)
• Investing is a skillful (and personal) art. (And it’s how we apply that allows us to use money in a way that aligns to our values and meets our goals.)
• We are mostly alone in solving common problems - but we don’t have to be. (Let’s take the mystery and shame away from money by talking with our family and friends.)
December 9, 2020
This is a different kind of financial book. It consists of a series of essays by people who work in the business, often advising other people how to invest their money.
It's amazing how many of them go against standard investing advise -- keeping a large percentage of their liquid assets in cash, paying off their mortgage, using index funds instead of actively traded accounts. Others talk about making investments not in money but in capital -- hiring the right people and keeping them happy. Buying a lake house to build family memories, etc.
Recommended.
It's amazing how many of them go against standard investing advise -- keeping a large percentage of their liquid assets in cash, paying off their mortgage, using index funds instead of actively traded accounts. Others talk about making investments not in money but in capital -- hiring the right people and keeping them happy. Buying a lake house to build family memories, etc.
Recommended.
February 22, 2021
The personal stories and financial transparency in each chapter (a total of 25, each authored by a different industry professional) make this book great. Acting against sensible / research backed advice is an unexpected common thread, though (sometimes) logical when you consider the emotional dividend and positive psychological returns (i.e. holding excessive amounts of cash, paying off your mortgage early, ex.). Definitely not a how-to book, designed to have readers emulate certain strategies; rather, a simple, open format where a few people who manage other peoples money for a living share a little about themselves and what they personally do with their money.
January 27, 2023
Money Definitely Helps
How I Invest my Money is not a theoretical book about turning spontaneously rich, fast and furiously
Nope
How I Invest my Money is all about results:
In a presentation of inspiring testimonials that reveal how some financial experts achieved financial satisfaction, How I Invest my Money offers a diversity of paths to lead us there...
We all know that money is not a guarantee of happiness, but... it definitely helps...
P.S: For my portuguese reading mates there is a portuguese edition (published by Editorial Presença) entitled "Investir"
How I Invest my Money is not a theoretical book about turning spontaneously rich, fast and furiously
Nope
How I Invest my Money is all about results:
In a presentation of inspiring testimonials that reveal how some financial experts achieved financial satisfaction, How I Invest my Money offers a diversity of paths to lead us there...
We all know that money is not a guarantee of happiness, but... it definitely helps...
P.S: For my portuguese reading mates there is a portuguese edition (published by Editorial Presença) entitled "Investir"
September 2, 2023
If you read this as a how to, you'll be disappointed. That was me the first time I picked this book up.
This book helps one gain insights into how money and perspectives about it, impacts the way these financial experts choose to live life and invest their money. Empowering in the process.
You can undoubtedly find a more pointed "how to" book with guided questions to help you establish your own perspectives. For me, life is better when I understand the journeys of others as well as integrate those learnings to help me forge the best journey for myself.
This book helps one gain insights into how money and perspectives about it, impacts the way these financial experts choose to live life and invest their money. Empowering in the process.
You can undoubtedly find a more pointed "how to" book with guided questions to help you establish your own perspectives. For me, life is better when I understand the journeys of others as well as integrate those learnings to help me forge the best journey for myself.
November 27, 2023
Very good pick for people who are interested in investing. I already have good experience with investing, but there was a hole that needed to be filled. There are a lot of investment options out there and a lot of those options do not depend on market conditions but on your own preference. This book helps you know how to drive your journey in investing.
You will find yourself in love with at least one of the financial professionals discussed in the book. you don't need to be fully drawn by one person, but maybe two or more people can give you better confidence in decision-making.
You will find yourself in love with at least one of the financial professionals discussed in the book. you don't need to be fully drawn by one person, but maybe two or more people can give you better confidence in decision-making.
February 15, 2024
3.75/5 stars
Enjoyable read for what it is - stories about how people in the industry invest. Enjoyed the diversity of stories on investment philosophies, gender, backgrounds and life philosophies in general. The essay authors are relatable - the majority (maybe 90% but did't track) were NOT from upper-middle class upbringings, with little to no exposure to investing by their parents (or lack thereof). They overcame the lack of advantages to get to where they are through hard work and dedication...that's the true lesson from these essays.
Enjoyable read for what it is - stories about how people in the industry invest. Enjoyed the diversity of stories on investment philosophies, gender, backgrounds and life philosophies in general. The essay authors are relatable - the majority (maybe 90% but did't track) were NOT from upper-middle class upbringings, with little to no exposure to investing by their parents (or lack thereof). They overcame the lack of advantages to get to where they are through hard work and dedication...that's the true lesson from these essays.
December 29, 2024
This is not a personal finance book, but rather a personal book about finances. It doesn’t offer practical advice, but rather a collection of personal views on money from various financial advisors and industry experts. It’s interesting to see how no two stories are alike and so much of finance really is personal. Some stories are relatable, and others feel distant; and I guarantee that my list of those stories will be different than yours. These are real people telling real stories and it’s a strong reminder that we are all humans.
December 7, 2020
This is a good easy read with wisdom
So you buy this book and you can either read it all in one sitting, or put it by the nightstand and read a chapter each night for a couple weeks. I chose the latter cause it gave me time to think on the wisdom and experience. I love how these are people writing about what they do rather than yet another ‘you should’ book. The result is inspiration for me to write my own version for my own life.
So you buy this book and you can either read it all in one sitting, or put it by the nightstand and read a chapter each night for a couple weeks. I chose the latter cause it gave me time to think on the wisdom and experience. I love how these are people writing about what they do rather than yet another ‘you should’ book. The result is inspiration for me to write my own version for my own life.
December 18, 2020
Great! Nice to hear from titans in the investment community about how they invest. Strong themes of paying off debt early and having a vacation home which is food for thought. Ultimately, this helped me to realize my next step in my own investment of my family's wealth. I've grown our own wealth, I've started diversifying our own wealth and now want to apply our wealth to the things that matter most: family, friends, charity and community.
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