No One Ever Told Us That: Money and Life Letters to My Grandchildren

Thursday, January 3, 2013

I found this book on the library's "new books shelves". Chris and I have been reading it together. Although we don't agree with the author on all points, we enjoyed the stories, humor, and advises.

Some points the author shares on his book:

- The unusual aspects of your lives can open doors. Burn no bridges

- Fears and greed rule the markets. Own of what you know and understand.

- Debt can be a killer. Stay out of it!

- Never turn over important financial decisions to lawyers or accountants, unless they can explain what you are about to do in simple English paragraphs. Too many people nod their heads in agreement to people advising them, with no clue to what they are actually saying.

- Make it personal and it can resonate for years. People never forget simple acts of kindness, done in a very personal and old fashion way. E-mails and text-ing will never grab you by the heart in quite the same way.

- Deal with mistakes quickly! Meet your problems head on and get them behind you, you will feel better and learn something in the process. And people will respect your honesty.

- Never be intimidated by people with graduate degrees.

- Do not be headline reader meaning never being whipped into an emotional frenzy by what the media trumpets to us on a daily basis. To manage your money well you have to think long term, years. Don't pay attention to negative energy. Whatever your dream is, go for it.

- "What about family business?" My answer: Make your own path in life, avoid the baggage, the politics, the infighting of family affairs. Love your family but don't let them suck oxygen out of you. You deserve honesty from me.

- There are people you cannot save from themselves. Know the downside about relationships that sap your energy, pocket book, and can be beneficial to your mental health.

- Never bet the ranch on someone else's dream. No one is going to make you money except you.

- Due your due diligence. Don't trust a firm handshake and a look directly into your eyes. Do your homework on anyone who is anxious to work for you. Trust, but verify.

- Stay in touch with the people from your past. It's people who make life extraordinary. Not things.