This week’s theme on the Retirement Quick Tips Podcast is: Best Personal Finance Books To Read This Summer

Today’s book choice is: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

Published in 2020, this book is a modern classic. In fact, at some point, I’m going to devote an entire week on the podcast to this book because there are so many lightbulbs that went off for me when I read this book and many of the insights I read in this book were new to me - which is saying something since I do this finance stuff for a living, and I devote a lot more time to learning and researching topics in this area compared to the average advisor because of this podcast. 

Who should read it: Honestly, everyone. Whether you’re money savvy or not, old or young, you will benefit from reading this book. 

Description (from Amazon): Money - investing, personal finance, and business decisions - is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.  

In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Why I like it so much: It talks about things that you don’t normally read in personal finance books - many of which tend to be solely focused on accumulating more money. Instead, Housel talks about why being humble and controlling your envy, greed, and other negative emotional traps is so important to making good money decisions and avoiding the sloppy decisions that can be ruinous. 

Pairs well with: your favorite beer or wine. It’s actually a fun read, and something that I would definitely read while relaxing on your patio with your favorite beverage. The content isn’t super heavy, so you can afford to have a drink in hand while you read - even if that means you’ll forget a little of what you read. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.    

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance