Ten timely financial steps to build the life you really want.
The COVID-19 pandemic forced us to rethink everything. Now, when it comes to envisioning a post-pandemic future, noted financial expert Jill Schlesinger hears one question over and How far should I really go to change my life?
The Great Money Reset is your guide to getting serious and building your best life. A road map for navigating our present era, this book shows us how to take advantage of the seismic changes unfurling all around us to make big life improvements. Whether it’s negotiating a better deal with your boss, starting or selling a business, moving to a new locale, retraining for a new career, taking time off to find yourself, or saying “the heck with it” and retiring early, The Great Money Reset provides an essential frame-work for strategizing and planning your next move.
Is quitting your job a wise decision or the biggest mistake of your life? Should you pursue that graduate degree or are you throwing away your money for a few meaningless letters after your name? What kinds of lifestyle sacrifices will you need to make—and could you tolerate—in order to realize your dreams? What tax and investment moves should you make to secure your future as you head into uncharted territory? And how can you put yourself in a strong position to undertake future life transitions that you can’t fully imagine now?
The Great Money Reset answers these and many other questions with Jill’s signature clarity, wit, and no-nonsense honesty. You’ll learn how to change your work, change your wealth, and change your life.
In ten simple steps, this book empowers you to break free of your unsatisfying pre-pandemic reality and thrive, regardless of whatever surprises might come next.
The Great Money Reset is one of several "post-pandemic and how to deal with your finances book" that has appeared in the last few months. Like others, the work offers guidance in how to do something different, as in really different. Hence the title of The Great Money Reset.
Author Jill Schlesinger is often seen on the CBS News and is the host of a podcast (Jill on Money) and has a nice website. I don't know that Schlesinger is the first to use the phrase "great money reset" although that doesn't matter really. It's sort of like after the 2008 "Great Recession" and everything was referred to as the "New Normal."
The book is a tidy 10 chapters, with titles that clearly speak about the contents. Among the subjects: invest in you, the IRS is your friend; starting a new business or other venture; put your house in order, etc. The book is full of wisdom and good advice, but most of it is Personal Finance 101. If you are looking for something engaging and deep this isn't it.
The writing is clear and concise. My biggest criticism is that many of the "real people" that the author uses as examples really don't need her guidance. There was one couple who were in their 40s and had already amassed a net worth of over $2 million and considering retiring early. I found that most of the examples were people who were doing quite well financially and probably could afford a reset of some magnitude.
Which made me wonder: What about the people who are working in the gig economy, have no benefits, and struggling to keep up with this ludicrous inflation we are all dealing with? Or the millions of teachers, service workers, and low paid healthcare professionals (not doctors and nurses) that barely bring home a living wage? What sort of opportunity is there for those folks to have a great money reset? I'm not advocating socialism and income equality, as much as the examples I read were from people who were doing pretty well.
I'm retired and was curious to her message for retirees. Regretfully there isn't much advice beyond the tax advantages of a Roth IRA and the typical discussion that follows.. We don't exist, at least that I recall reading about. That's OK. I get it, we are out of the workforce (well, not really as about 30-40% of retirees work a little here and there according to AARP) and not as interesting. But retirees face just as many "reset" questions and its too bad there were not any examples for us. Such as the big reset all retirees face when they leave a job and suddenly have hours on their calendar to fill and don't have a clue on how to do it. I have a neighbor who won't retire for this very reason, and he is 70 and doesn't have a clue what he will do once retired. Too many retirees are totally dependent on Social Security as their only means of monthly income.
I received an Advance Review Copy and am sharing this original review. I thank the publisher and author and NetGalley for the opportunity to read it.
I skimmed this and realized that it wasn't for me, so no rating.
Books like this are never meant for the average American who still earns a 5-digit salary, can barely afford the cheapest house in town, and they're still paying for their student loans for a useless bachelor's degree, and they would love to learn how to get out of this hole. It's meant for people who earn a 6-digit salary, have a 7-digit retirement savings, a half a million-dollar home that's paid off, and they have an investment property. If you're in the latter category, you don't need a money reset. Anyway, this is the impression that I got from the chapters I read.
I always enjoy reading books about how I can be better with money, and this time of year they seem to be more of a focus. The Great Money Reset was fascinating, focusing on the effects of the pandemic and how many wanted to make a change, whether it was a job change, career change, or life change such as retiring early, taking time off from work, etc. The author works through in ten steps the options that may be available in doing so if you find yourself in this situation. I would love nothing more than to retire tomorrow but alas, I have a bit more to save so I cannot. I did take note of a few things to work on and to plan for when it is time to do that. If you are content where you are then this may not be for you, but it definitely gave me some tangible things to plan for as well as to look forward to.
I enjoyed listening to this one via audio as the author performs the narration and she did a great job. I thought it was easy to follow along with the book and take notes of the things I wanted to capture.
Thank you to NetGalley and Macmillan Audio for the ALC and to St. Martins Press for the ARC to review.
It's demanding far too much from a finance book to expect enough specificity to apply to whichever situation you find yourself, but all of the examples in The Great Money Reset were so laughably distant from the average person, that I hardly wanted to keep going. Almost every example featured someone who earned at least $200,000/year and most of them made much, much more. It felt like watching "House Hunters" where every seemingly normal person had a budget of a million dollars. The people in this book can afford to make a "Great Money Reset," but the principles discussed might not be detailed enough for everyone else.
This is a guide for those that are financially stable and are looking to make a career shift. Which is great for them, but for those of us not in that position it is not very helpful. So while this is not your typical finance book, it is also not for everyone.
The Great Money Reset is for people who are looking to change their situation (after Covid)- not bolster it. I did enjoy Jill's examples, but a little more Suze Orman practicality and advice could have been more helpful. In Money Reset she hovers on people who are changing their situation (and already have money) not necessarily bettering what they have. It's a worthy read, but know what you are going to get.
I'll say it - Finance can be an overwhelming topic for me. I want to understand it more, and sometimes, er, most of the time, I just don't. This book makes the topic so accessible even for someone like me! What I really liked is that this isn't just about money, but it's about looking at money in the context of your life. It isn't just about amassing wealth, rather it leads with figuring out what you want and need and how to make informed decisions around to get there. Throughout, it also offers options. What works for one person might not work for someone else, and I appreciated there wasn't just one prescribed path. Overall, this was a really strong reflection of what financial health and care is within the scope of your life and passions. It's a hard sell for me to dig a finance book, but this one achieved that! Thanks to NetGalley and St. Martins Press for the early look at this January 2023 release.
Do you have $2 million or more in your retirement? Do you have a $500k+ house plus $800k stashed away somewhere and a partner who still making 6 figures? A summer home you could sell? Need to cut your spending by not buying $700 shoes? Are you single with no kids and have been making $70k+ and maxing out your 401k contributions since you were 18? This book might be for you (though odds are if you fit these scenarios you already have a financial advisor and don’t need this book.) For everyone else, not so much.
Great book with timely information in our modern, post(present?) Covid-19 world. Makes you really think about what you NEED. The title is spot on. Let's take time to RESET our thinking about our finances and make better, more informed decisions. I recommend this book often and tell everyone to get it in January.
This book is really for people making at least three figures, if not more. Schlesinger really ignores the typical American. Ended up skimming most of the second half of the book.
This was an excellent book on personal finance and career direction. The author's tone was highly readable, and the advice was sound and timely. Most of the book deals with life after the pandemic and the need to re-think your life and your finances after a time of tremendous change. Even though I had already gone through some major changes in my life, I found the book interesting and helpful.
This book comes at the right time -- post pandemic - many of us are wondering what are we doing with our lives and as a consequence how can us looking at our money reset help guide us to new choices. What I particularly liked about this book is that it is full of practical tips -- not theory. Each chapter has case studies and personal stories that really help illustrate the points -- so there is something for everyone in this book regardless of where you are at in your career or life. At the end of each chapter is a summary of the key tips which I also like. There are ten chapters and my favorite was to challenge our own spending assumptions/beliefs we set for ourselves. What is great about this book is it is not really an investing book but rather has us self-reflect on our beliefs, our choices to help identify where a reset is helpful. Don't get me wrong -- there are chapters on investing and taxes and whether to seek more education, or sell or buy a business but the underlying theme is to push us to identify our overall goal. To me, that is what makes this book unique and extremely timely! I recommend this book.
Thank you to Netgalley and St. Martin's Press for the ARC in exchange for my honest review.
Worth to read. High recommend to whom is lost in financial management. Easy to understand, practical samples, case studies. During the pandemic, many things have been reset. You have to learn to adapt yourself to new situation. Reset your life, your social relations, your financial status. How to do? How to treat everything well, just read this book
"The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life" by Jill Schlesinger explores the possibility of achieving your dream life without compromising financial security. In a world where many people stay in their jobs primarily for the steady paycheck, the book acknowledges that the COVID-19 pandemic has prompted individuals to reevaluate their careers and lifestyles, seeking more meaningful and fulfilling lives. It emphasizes the importance of thoughtful planning to make significant changes and introduces the concept of the "Great Money Reset."
The book introduces five key financial areas, referred to as the "Fabulous Five," that readers should assess before making major life changes. These areas include income, debt and liabilities, housing costs, monthly spending, and financial obligations to others. By thoroughly evaluating these aspects, individuals can gain confidence in their ability to make successful changes in their lives or identify areas where smaller adjustments may be more suitable.
One of the book's central ideas is the importance of controlling spending to bring dreams within reach. It suggests examining current habits and cutting unnecessary costs, as well as conducting short experiments to test one's ability to reduce spending. This approach can lead to financial empowerment and greater flexibility in pursuing one's dreams.
The book also provides guidance on negotiating for a better role within one's current job, offering a framework for making a "Big Ask" and understanding its implications for both the employer and the individual. It emphasizes the importance of being strategic, practicing, and maintaining a professional demeanor during negotiations to achieve desired outcomes.
Additionally, the book explores the role of home ownership in achieving financial flexibility and provides insights into when and how to sell or downsize one's home to fund major life changes. It emphasizes the need to make rational decisions based on financial considerations rather than emotional attachments.
Finally, the book encourages readers to design their own dream jobs, highlighting the possibility of pursuing passions and side-hustles while maintaining their current employment. It advises a gradual approach to entrepreneurship and offers guidance on transitioning from a side-hustle to a full-time pursuit. The book also emphasizes the importance of resilience and creativity in adapting to unexpected challenges in business.
In conclusion, "The Great Money Reset" by Jill Schlesinger offers practical advice and strategies for individuals looking to align their financial lives with their dreams and values. It emphasizes the importance of thoughtful planning, controlled spending, negotiation skills, and incremental changes to achieve a more fulfilling and authentic future.
This book covers personal finance for a post-COVID world, specifically, addressing how you may want to adjust your financial plan based on how the pandemic has made you rethink your life. A lot of us found that when our daily life was interrupted, we realized that we weren’t totally happy with the way things were going, and I found this inspirational to hear about some of the big changes others were making. For myself, I don’t feel the need to do a “great money reset”, but I still got ideas for smaller changes I may want to make. I would say about half the book focused on current events and a true reset, and half was more personal finance 102. But it’s well-written, a very easy read with an approachable tone, and includes both advice and personal stories to illustrate the tips.
Although most of this book wasn't relevant to my current situation, it was refreshing to read a personal finance book with new ideas. It is framed in a modern context - post global pandemic - as many people have begun questioning their financial lives. Jill, in a very conversational tone, helps to identify and navigate those questions with the help of a collection of personal stories and advice. For those looking to "reset" their money plan, this is a great place to start. There are a lot of great sparks that should produce some productive financial thought exercises.
I received an Advance Review Copy and am happy in sharing my review. I thank the publisher and author for the opportunity to read it.
I received this ebook from NetGalley because the idea of a reset intrigued me, as my family is in a bit of a reset period of our own. Our kids are independent and our expenses have dropped. We’ve been saving for retirement and are exploring some options for using our savings to have fun. It’s filled with examples the author has brought from her career as a financial planning professional and advisor. If you are looking for a book that will help you get your finances in order, this is not it. This is definitely written for people who are already fairly comfortable financially and are looking for options, primarily, but not solely, later in life. The book offers advice on what to think about when making a big life decision such as quitting your job to start a business or selling your house to move across the country and the effect it may have on your family relationships. The central theme is to not let fear or misinformation play an outsize role in keeping you from making big decisions when you feel like you need to make a reset. The book is well-written and easy to follow, but fairly repetitive, covering concepts that are pretty basic but bear repeating.
I really liked this book. I'm sure that has to do with my age since I'm in my mid-50s and thinking a lot about retirement and what that could look like. It would also be helpful for anyone contemplating any kind of lifestyle change that will impact your finances. It was laid out in a clear concise way with some humor... And you can easily skip areas that don't pertain to you. I listened to it on audiobook but I'm also checking out the physical book from the library because there are sections I want to share with my husband. Thanks Jill!
If you don't make over $200k a year, have over a million in your 401k, or have a home worth at least a million, this book won't have anything of substance to offer you.
As Stevo’s Novel Ideas, I am a long-time book reviewer, member of the media, an Influencer, and a content provider. I received this book as a free review copy from either the publisher, a publicist, or the author, and have not been otherwise compensated for reviewing or recommending it. As an Amazon Associate I earn from qualifying purchases.
This book was Stevo's Business Book of the Week for the week of 2/5, as selected by Stevo's Book Reviews on the Internet and Stevo's Novel Ideas. Break free of your unsatisfying pre-pandemic reality.
As we emerge from the years of COVID-19 pandemic lockdowns and working virtually, the realities and meanings of worklife and life away from work have radically changed. We have been forced to strip life back to its essence and reassess what we do to produce income. What opportunities are out there in 2023?
Jill Schlessinger, in her new book, "The Great Money Reset," echoes what we are all asking: "What really matters? Is what I'm doing, in my career - lifestyle, and relationships - what I want to be doing for the rest of my life?" Schlessinger has ten answers to that question.
Assuming that you are already emerging from the pandemic with a better knowledge of your personal values and priorities, she shows us how to: take stock of what we have now and what we need in the future, rethink our consumption habits, how to bargain with your current employer for better compensation and benefits, invest in stable resources, use the IRS to help fund your next move, sell your house (and buy another one), start a new business or side hustle, go back to school, get support from your family and professional relationships, and build financial resilience that will help you make Great Money Resets in the future.
Schlessinger's mantra is "change your life and move toward your dreams." But life itself (injury, sickness, death of a spouse) forces us to make changes, so her guide serves both those acting and reacting.
Filled with stories of both successes and failures, "The Great Money Reset" shows us how to plan for a future that increases financial security, firms up relationships, and solidifies our sense of identity.
Find more Business Books of the Week on my Goodreads Listopia page at https://www.goodreads.com/list/show/9..., and find many more reviewed and recommended books and products by searching for me on Google.
I found a good book by accident Posted on February 1, 2023 by Jack It was an accident and later I thought it was a mistake. This is how I remember it. I had finished the book that I was reading on my Kindle. Since it was a Netgalley book, I figured I should review it. But I did not feel like it. I’d just put it off for a few days and look for a new book.
Truth is that I enjoy reading books more than writing reviews. So the next book I picked was The Great Money Reset. Title sounded good but when I started reading it seemed to be about stuff I was not very interested in. I thought I should write to Netgalley that this book was not what I thought and I would neither finish it nor review it. It was probably my mistake in not reading the book description completely.
But I’d give it a few more pages before writing. So I read a bit more and decided I liked this book despite my initial reaction.
I thought this was a financial planning book for the general reader and maybe the reset in the title referred to making changes because changing economic conditions. So I started reading and saw that the focus was on people who wanted to make a big change (or reset) in their life. Often the change involved changing a career from something very financially rewarding to something more personally rewarding.
This did not seem to apply to me who is happily retired and pleased with how his career and personal life worked out. But despite my initial impression, I found a good book by accident. The financial advice was sound and much of it would apply to all of us. The stories of people making major changes in their lives were much more appropriate than my first impression. I found reading these stories interesting. So my thanks to Netgalley for giving me a chance to read this before it was published.
The book is The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life by Jill Schlesinger. I did enjoy her style of writing and recommend this book.
Jill’s website is https://www.jillonmoney.com/. You might want to look at that before deciding if you think you might want to read this book.
I will scream if I see the 'great reset' term used one more time in a non-original title. This book didn't bring anything new to the table, lacking depth and any form of engagement. If anything, this book of a lousy ten chapters was completely backward and tone-deaf, considering in our post-COVID world, we are facing another impending recession amid a cost of living crisis (not just in Australia), so asking people if they can reduce their spending or cut back was entirely laughable.
I reviewed a similar finance book last year (She's on the Money) and thought that it was pathetic, to say the least, with a generous 2/5 rating on my behalf. However, this so-called collation of useless guidance deserves a 1/5, and I won't be apologising for it. Encouraging hustle culture and framing it as an aspirational lifestyle when most people already work 2-3 jobs to live in survival mode is profoundly shameful.
The examples in this book (similar to the book I reviewed last year) were not based on real people but on those already financially well-off who do not (or should not) need guidance. Especially if you're that couple in your 40s and have already amassed a net worth of 2 million. Write something for the average person and then come back and market it properly, for f*cks sake - sometimes I wonder why so many financial advice books are targeted to the upper classes, get a brain and do your own work instead of outsourcing everything, including the capacity to think for yourself.
Theme takeaways: - But ever since COVID-19 swept the world, people just like you are increasingly reevaluating their careers and lifestyles (literally the only smart thing mentioned in this book) - Ideally, you should start your financial planning five to 10 years in advance of a potential career or life change (RIP to all of us 20-something-year-olds who didn't buy a house in kindergarten) - Do you want to tell your boss at your soul-sucking nine-to-five exactly what you think of them before tossing your phone in the nearest river and heading into the mountains to live off-grid? (yes, and that is where all the good shit ends in this so-called book)
comes out January 24, 2023. i won it through a Goodreads giveaway. i am new to Jill Schlesinger. wealth management (kindle and books). personal finance. i am so super lucky to have had the chance to read it before others ...since it is out in Jan 2023. i received a paperback copy. not a hardback copy as this does say, Goodreads doesn't offer the chance to change that??! finances ...that is always a hard topic to chat about. i enjoy the layout. tips & tricks. is it earth shattering? nope. but what is. you gotta start somewhere. you gotta get honest with yourself and be real. sugar coating it ...just doesn't work. stop it already. i am talking to myself as well ...not just you who is wishing to try a new path. i think we all can look at our own lives and adjust this or that. i am not an expert and i truly do not think that any one is an expert either ...we try this or that and if it works stick with it. if it doesn't work move to something else. i don't think you can depend on 1 book ...or outlet that will help you in the finance department, maybe grab onto several books that maybe you wanna read ...or folks, friends or family have suggested. i don't wanna knock it ...it was a fun read, interesting, and enjoyable ...but it ain't a cake ride. but what in life is. it takes effort, time and determination. do you want it? financial freedom?
This is probably a useful book for obscenely rich people, but not so much for the other 99% of us. Only a few of the examples are relatable to us middle-class plebeians. The majority are about people with multiple millions of dollars in retirement accounts, stock options, and real estate. In one anecdote, a corporate executive making half a million dollars every year felt she was "underpaid for her skills and experience." In another, a doctor making $600K per year took a less stressful job that paid "only" $200K a year, and his wife's response was, "Are you kidding? We have kids to raise!"
Schlesinger is a financial planner, and naturally the clients of financial planners are people who have oodles of money lying around. But I picked up this book hoping for some practical advice about my own financial future, as a librarian who will realistically never crack six figures a year. Unfortunately I can't go back in time to found a software company I can sell for $20 million, or save $100,000 just by making a minor tweak to my tax returns.
So all this book had left to give me is generic common-sense prompts like "analyze your spending" and "think about the skills and credentials you need before going back to school." And also the general knowledge that to people who work with money, people without very much of it don't exist.
The Great Money Reset by Jill Schlesinger is a thought-provoking and insightful read on the current state of the global financial system and its potential future. The author presents a well-researched argument for the need for a reset of the monetary system and explores the potential consequences and benefits of such a change.
One of the strengths of the book is the author's ability to simplify complex economic concepts and present them in a clear and concise manner. The book is accessible to readers of all levels, regardless of their prior knowledge of economics.
The author also provides a balanced view, presenting both the potential advantages and disadvantages of a monetary reset. This makes the book a great starting point for further discussion and exploration of the topic.
Overall, I highly recommend The Great Money Reset to anyone who is interested in the future of the global financial system and the potential impact it may have on our lives. It is a well-written, well-researched, and thought-provoking book that provides a fresh perspective on a complex and important issue.
I listened the audio book. I was pleased that Jill was the narrator. still, I have to admit that I like the podcast more. Jill’s interaction with callers is always fun to listen to and often informative.
In the book I liked the chapter on taxes. It gave me some things to think about.
We are close to retirement so some of the chapters were not particularly useful to me, but they were still interesting.
The chapter on advanced education and graduate school was a little lacking. Jill made it sound like her niece was really lucky to get a full scholarship + a $10,000 stipend to attend grad school. The truth is that many grad students get full scholarships and stipends that are anywhere from $20,000 to $35,000 per year. Undergrads often do not know this so they skip grad school altogether when it could be advantageous to them. Or they attend a program that costs them an arm and a leg when funding is available elsewhere. In a lot of STEM fields a Masters Degree is not necessary to get a job but with that Masters Degree your job opportunities may increase and be more fulfilling.
Author is in a childless same-sex relationship, and is about as in touch with the masses as Suze Orman. The book is a "change your life after doing some covid-inspired reflections on your personal goals and raison d'etre."
In the first chapter, she mentions that if you need cash for a lifestyle change, you can always consider selling your vacation home. Um. Elsewhere she talks about backdoor Roth conversions (though not in great detail), reducing your tax bill by buying a second house/apartment to use for your business and donating appreciated stock to charities, and selling your house and taking the hundreds of thousands of dollars in equity to pay off debt and buy a more modest place. Her expectation in this book is that every family has at least $150K in income, possibly rather a bit more, and that both partners are capable of earning a healthy income, or if not, that the primary breadwinner is in a high-paying industry where job opportunities are plentiful. Also, almost everyone in this book has at least a million dollars or more in real estate.
The ideas are ok, pretty basic, but it doesn't feel accessible to those of us of more modest means. (In this case, it would be anyone with a personal income of under $150K or a household income of under $200K.)
This is a comprehensive guide for how to responsibly blow up your life, monetarily speaking. In the last several years a lot of people have taken stock of their work and family situations and really examined what is and isn't working for them. Sometimes a radical change is needed--a sabbatical, career change, new business, or even early retirement--and this book lays out exactly how to think that through. It includes the basics (taking stock of your assets and liabilities, realistically assessing your spending, etc.) but also ventures into more complex topics like dealing with the IRS and estate planning. It's definitely written for a somewhat privileged audience and those with some familiarity with personal finance, but it's organized well and pretty readable for being a heavy topic. I would encourage anyone pondering a major life change to pick this up and heed the advice to be best prepared!
Many thanks to the publisher and NetGalley for the opportunity to read and review!
“The Great Money Reset” is describes the change you must make first in your mindset toward money. The subtitle, “Change your work, change your wealth, change your life.” Describes the results of that properly changed mindset.
The author presents financial principles and illustrates their veracity with the stories of callers to her podcast.
Unlike “Chicken Soup for the Soul”, the book is more than a simple collection of anecdotes; each story is presented to illustrate a point. And that point is get you thinking about the “money reset” you must accomplish either to adjust to an event you just experienced (like a job loss or illness) or to successfully accomplish the dream you have (career change, retire, marry, etc).
I recommend this book for anyone who has experienced or anticipates a dramatic change in their life. Reading it will get you thinking. Armed with a new mindset, you will be able to work more effectively with a financial advisor/coach/consultant to create and execute a specific plan to get you through to success.