The Beginner's Guide to Wealth

by Noel Whittaker, James Whittaker

The ultimate young person's guide to personal finance, success and motivation, The Beginner's Guide to Wealth was a certified bestseller within four months of its release and named Money magazine's book of the month for March 2010. In this groundbreaking book Noel and James Whittaker draw on their combined knowledge and experience to help readers abandon the crowd and start living a fulfilled life. The authors cover major issues such as essential skill development, forming good habits, building a positive mental attitude, creating the right "success" for you, avoiding the common pitfalls, and investing your money wisely.

Genres: Money, Nonfiction, Finance

201 pages, Paperback

First published January 1, 2010

Reviews

[Isheeka · Rating 1 out of 5]

What a worthless book.

I stopped at page 82, my main reason being that the Whittakers are so blind to their own privilege that the advice they’re dishing out on how to be a worthwhile person is woefully obtuse.

On page 9 is a doozy of a paragraph which contains the sentence “Having wealthy parents can be more of a hindrance than a help.” I wish I was kidding. It then goes on to sympathise with royalty and celebrities. Poor rich people, they have it so tough! Must have been steep competition that James had to beat to land a cushy job at his father’s company, I’m sure. This is the kind of garbage that only the privileged write because they just have no grip on reality.

Pages 31-32 encourage the unemployed not to worry about the unemployment rate but to consider that plenty of people do have jobs. Again, the white bread Whittakers completely fail to see structures of disadvantage that may make it harder for some people to find employment, and instead promote the ignorant view that everyone is on a level playing field and it’s your own fault if you don’t end up where your rich, white friends have ended up. What about people with a disability, people who aren’t Australian born, people who aren’t straight? The Whittakers think Australia treats them the same as everyone else.

This aside, the advice is harmless for people who already have a leg up - which is why I persisted with this book for as long as I did. But there’s nothing new or remotely interesting here. The Whittakers only refer to a stack of white men in this poorly researched nightmare of a book, which explains a lot, really. Their advice includes gems such as “Read autobiographies, like Michael Caine’s” - good grief. The Whittakers also quote the Bible, which is hugely inappropriate.

If I could give this book a zero, I would. It’s completely useless, tone-deaf and not at all appropriate for anyone who doesn’t already have a background of wealth and privilege.

[Nicholas Cornish · Rating 4 out of 5]

I recently acquired a 1988 reprint of Noel Whittaker's "Making Money Made Easy" - more as a "novelty read" given its age... I read the first several pages - and kept reading till the end... While aspects of the book were dated given the passage of time - mostly surrounding contextual, geopolitical forces and certain legislative structures that had evolved and changed - what surprised me much more was the currency and relevance of the book. Its continued utility... Even in the dynamic world of finance, it is reassuring to know that there is an knowledge and wisdom that the average person can acquire that can forge a sound foundation from which to make sense of the often chaotic financial world we are all forced to live in. Reading that book encouraged me to read further... Noel Whittaker has a clarity to his writing which results in a clear transference of understanding - meaning you retain what you read. The universal principles mean that one reading can result in ongoing benefit over many years. This latest book is a great leap ahead again in terms of currency and evolution of thinking, with the retained value of previous books. It is encouraging to see that Noel's son, James, borrows much from his father's successful technique in these important regards and brings something new and fresh, also. I look forward to reading more in the future.

[Emily Jade · Rating 2 out of 5]

Look it gets a couple of stars because of the really simple, straightforward way everything was explained. But this book was condescending, outdated and straight up ignorant. I didn't get much out of it. Don't bother.

[S'hi · Rating 1 out of 5]

Why does every self-proclaimed wealth guru have to write their own book? Only to link their own name with all those they reference who have gone before them. And why do you have to be such a loser and failure before you have any success? Only because you were too head-strong to listen to any teachers or parents before you. If all the statistics are so skewed that you are part of “the majority” you won’t take any of this advice or risks – so save your money and time and do something you enjoy. this book even begins by telling you that is how to gauge your own success, so why read further?

[Stephanie · Rating 1 out of 5]

The authors are tone deaf and out of touch with reality. Their suggestions included ‘reading as many autobiographies as possible’ to know others have struggled and succeeded. Seems like you could just try talking to another person?! There were several problematic examples, including of a woman being abused. Not a fan of this book.

[Lan Chan · Rating 3 out of 5]

Sucks to be you if you're not young because this book basically suggests that if you haven't started investing by the time you're 21, you're screwed. It doesn't actually give any strategies to build your investments if you're a bit older.

I am all for the Think and Grow Rich mentality, but if you have come to this after a longer life, thinking positively can be a bit harder.

[Shreedevi Gurumurty · Rating 4 out of 5]

Australian personal finance legend, Noel Whittaker, and his son and BossFit founder and businessman, James, have collaborated wonderfully to write a great and informative book, where they have deconstructed the secrets to a successful financial future. Instead of solely focusing on the basics such as budgeting, saving, debt and investment- they delve deep into money philosophy and the human psyche when it comes to goal setting, the laws of sowing and reaping, forming great habits, failure, reframing one's life and developing a positive and growth mindset. They also develop strategies for self improvement, and how to be adaptable in an ever changing world where nothing is certain nor guaranteed, like increasing your skillset therefore creating multiple income streams and investing your money wisely. You can see where everyone else is headed, and you can go the opposite direction and start living a fulfilling life.

[Hayes · Rating 2 out of 5]

I was recommended this book by a friend. Following the advice within it certainly won't do anyone harm, but it really is a beginner's guide (ie not much use for anyone who has finished school).

I had a bit of a laugh at old man Noel trying to give his son a leg up by letting him 'co-author' and spruik his fitness company at every other point. But really all of the self promotion and pointless stories just make for painful (and incredibly basic) reading.

[Mike · Rating 5 out of 5]

A great book. East to read. It gives you lots of great food to think about and build your life around. Noel's recommended books are must to read and in the queue to read next.

[Bethany Johnston · Rating 4 out of 5]

I read the 2020 edition and found it a useful starting point. It’s not groundbreaking but it’s worth the read.

[Emma · Rating 1 out of 5]

I feel bad giving such a low rating but this was so hard to read. All the made up stories of lazy youth and so many golf examples. This was a real struggle to finish.

[Jason Andrew · Rating 2 out of 5]

WAS ok

[Alex · Rating 3 out of 5]

First 16 chapters (about 2/3 the book) focus on mindset and are written from the perspective of a privileged white male so some readers will find the assumptions grating. Australian perspective beginners book, can be repetitive but good summary at the end of the book.

[Chris Walker · Rating 4 out of 5]

I will recommend my daughter read this book as much for the encouragement in it of taking heart in life by establishing and building on a pattern of small successes and in developing a positive self-image. I liked the personal anecdotes from both Noel and James and the plain speaking about financial concepts (I've finally understood what franked dividends and imputation credits are about). While I am not the target audience for this book I got some advice and a couple of good tips from it that I will put into action. I hope my daughter will learn a lot more.

[Dan Gardiner · Rating 5 out of 5]

I found this book to be a clear and well-articulated read. With simple step-by-step instructions and self-checks I thoroughly enjoyed the topics covered, and their application to the real world.

Unlike many other books in the genre, I found that the methods and thinking really did apply to me and my situation. I would highly recommend the book to anyone who might be looking for a clear explanation on how to begin the wealth creation journey.

[Adam Moore · Rating 3 out of 5]

I was surprised when I started reading this book, i was expected a finance book but 2/3rds of this book was more of a self help/self awareness book similar to "Think and Grow Rich'. It had some great content but a lot of this book borrows from other books and recommends those to the reader. I believe the financial advice near the rear of the book was the best part of the book and would recommend this book for that section only.

[Ben White · Rating 5 out of 5]

Great book, outlines the steps to build wealth from any financial base. Examples are clear and simple to understand which was refreshing as other books I have read in this area have been complicated and poorly structured.

I would recommend this book for anyone with the goal to improve personal finance knowledge and application.

[Marian · Rating 5 out of 5]

Like I was reading a letter from the wise, rich, loving grandad I never had. Every bit of it is useful, unlike a lot of other finance books. Then again, most of this is not about finance, just about ways to get yourself together. Finance itself is not that hard, but most books written about it are rubbish. This just gives you the common sense stuff.

[Loki · Rating 5 out of 5]

So far this book is amazing, when I picked this up at my book shop I thought this book was going to be a joke that isn't realistic but once I read the first chapter I instantly fell in love with it. It has a meaning in every chapter which gets you hooked to continue reading and it actually teaches you something that you wouldn't get in other books.

[Newsurfiegirl · Rating 5 out of 5]

I wish this book was around when I was just starting to work, it would have made a big difference to me. I would buy this book for young people who are just starting to work to help them get a great start on the road to success. Definately worth reading.

[Henry York · Rating 5 out of 5]

I bought this book for my 16 year old son after it was recommended by a friend. It is very easy to read and I was surprised that he actually finished it, given that he hates reading! A great buy for anyone trying to encourage their children to read and learn some important life skills.

[Neen]

Great simple but motivating read

[Will · Rating 5 out of 5]

Great book on personal finance - easy to follow with useful examples. Well worth the read.

[Ben O'Donnell · Rating 5 out of 5]

Absolutely loved it. Easy to read, great advice, and told in a way that people of all ages can understand.

[Samuel Baker · Rating 4 out of 5]

Good introduction to finance. Goes over basic principles of success and financial independence. Definitely recommended as a first to read for those that want to learn about investing and finance.

[Duncan Swann · Rating 5 out of 5]

And now I'm ready to take on the world!