There are a lot of books on developing your personal finances, and it has been a while since I read one. I thought it might be interesting to read one written recently to see what advice has changed lately, and see if there is anything that I’ve been missing.
I liked the author’s writing style – approachable, patiently explaining the basics but not dumbing it down too much. He takes the time to address some of the reasons that someone would want to accumulate wealth – it is not just to get more strippers and blow. The author provides some other perspectives, and other ways of thinking about money besides “I should get as much of it as I can”.
To be the author of a book on accumulating wealth I think you should definitely be wealthy. I can see that he is stepping carefully when justifying the need for (over-)accumulating wealth. Certainly he understands his target audience but it is with a much more measured tone than perhaps Gordon Gecko would have taken.
Especially the anecdote on how he justified the purchase and use of a private jet – essentially trading money for more time with his kids. From an accounting point of view it made sense but it seemed to me that there may be some other considerations that he (unconsciously?) danced around.
I’d recommend this book for Americans getting started with investing, that have a lot of time as a resource, rather than old farts like me who are on the other side of the time equation. But even for me there were plenty of interesting insights and things to think about. Overall, it was worth reading.
Next I am reading Pilgrim at Tinker Creek by Annie Dillard.
