Saturday, June 15, 2013

All the Money in the World

All The Money In the World: What The Happiest People Know About Getting and Spending is one of those non-fiction books that I should buy a copy of, highlight important parts and re-read every year.  There are so many good bits of advice and wisdom in this book by Laura Vanderkam.

A few nuggets of gold I have taken from it:

1.  Who says that we should look forward to retirement? Where did the idea of retirement come from?  Long ago children took care of aging parents.  FDR created the Social Security Administration to help care for the aging population in our country (although the SSA tries to divert attention away from the fact that the average life span for a man was 58 and a woman's average life span was 62 when FDR created it, meaning that many people would never take advantage of this benefit). More happiness is derived from being active and productive than from retiring without something fulfilling to occupy your time. The Bible also supports the idea of working and doesn't ever advocate a time when your life should be one of idleness.

2.  Many people live their lives with the "keeping up with the Joneses" mentality.  Rethink the idea of your budget.  Scrimping on things that make up a small percentage of your budget isn't going to make you wealthy. Some of those small pleasures might bring you great happiness.  Live below your means when it comes to your house and car.  These two expenses make up a large percentage of your budget and by spending less on these two large dollar items, you will have more money to use for other things.

3.  When asking people to list 100 things that would make them happy, most chose experiences over material posessions.  Find experiences to enjoy, people to enjoy them with, not more "stuff" to clutter your life.

I have been spouting these many ideas that Vanderkam writes about to anyone who will listen.  All The Money in the World isn't boring or dry, and gives plenty of food for thought.  I will be recommending this book to everyone I know. 

No comments: