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The One-Page Financial Plan: A Simple Way to Be Smart About Your Money
Whenever I tell people about my job as a financial advisor, the conversation inevitably turns to how hopeless they feel when it comes to dealing with money. More than once, they’ve begged, “Just tell me what to do.” It’s no surprise that even my most successful friends feel confused or paralyzed. Even if they have a shelfful of personal finance books, they don’t have time to make sense of all the information available. They don’t just want good advice, they want the best advice—so rather than do the “wrong thing,” they do nothing. Their 401(k) and bank statements pile up, unexamined or maybe even unopened. What they don’t realize is that bad calls about money aren’t failures; they’re just what happens when emotional creatures have to make decisions about the future with limited information. What I tell them is that we need to scrap striving for perfection and instead commit to a process of guessing and making adjustments when things go off track. Of course we’re going to make the best guesses we can—but we’re not going to obsess over getting them exactly right. The fact is, in a single page you can prioritize what you really want in life and figure out how to get there. That’s because a great financial plan has nothing to do with what the markets are doing, what your real estate agent is pitching, or the hot stock your brother-in-law told you about. It has everything to do with what’s most important to you.
By now you may be wondering, “What about the details? How much do I need to invest each year, and how do I allocate it? How much life insurance do I need?” Don’t I’ll cover those topics and many more, sharing strategies that will take the complexity out of them.
The most important thing is getting clarity about the big picture so you can cope with the unexpected. Maybe you’ll lose the job you thought was secure; you’ll take a financial risk that doesn’t pan out; you’ll have twins when you were only budgeting for one. In other Life will happen. But no matter what happens, this book will help you bridge the gap between where you are now and where you want to go.
By now you may be wondering, “What about the details? How much do I need to invest each year, and how do I allocate it? How much life insurance do I need?” Don’t I’ll cover those topics and many more, sharing strategies that will take the complexity out of them.
The most important thing is getting clarity about the big picture so you can cope with the unexpected. Maybe you’ll lose the job you thought was secure; you’ll take a financial risk that doesn’t pan out; you’ll have twins when you were only budgeting for one. In other Life will happen. But no matter what happens, this book will help you bridge the gap between where you are now and where you want to go.
224 pages, Hardcover
First published March 10, 2015
About the author
Carl Richards
3 books31 followersCarl Richards is a CERTIFIED FINANCIAL PLANNER™ and the director of investor education for the BAM ALLIANCE, a community of over 130 independent wealth management firms throughout the United States. He is the creator of the weekly Sketch Guy column in the The New York Times, and is a columnist for Morningstar Advisor. Carl has also been featured on Marketplace Money, The Leonard Lopate Show, Oprah.com and Forbes.com. In addition, Carl has become a frequent keynote speaker at financial planning conferences and visual learning events around the world.
Through his simple sketches, Carl makes complex financial concepts easy to understand. His sketches also serve as the foundation for his first book, The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money (Portfolio/Penguin). Carl's art appeared in a solo show at the Kimball Art Center, in Park City, Utah. Other showings include The Parson's Gallery in New York, The Shultz Museum, and an exhibit at the Mansion House in London. His commissioned work is on display in businesses and educational institutions across the country. He lives with his family in Park City, Utah.
Through his simple sketches, Carl makes complex financial concepts easy to understand. His sketches also serve as the foundation for his first book, The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money (Portfolio/Penguin). Carl's art appeared in a solo show at the Kimball Art Center, in Park City, Utah. Other showings include The Parson's Gallery in New York, The Shultz Museum, and an exhibit at the Mansion House in London. His commissioned work is on display in businesses and educational institutions across the country. He lives with his family in Park City, Utah.
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Displaying 1 - 30 of 205 reviews
July 6, 2015
As a fellow financial advisor, I think that Carl hits on some really great points. I'm glad that he took the time to simplify the financial planning process for the masses. For those of you who have put off making a financial plan because it's too overwhelming, this is the right book for you.
Key takeaways:
p. 17 - Although putting together your financial plan takes time, you will end up actually saving time every single year because of it.
p. 18 - A great plan isn't about getting everything exactly right, but making your best guess about how to get from here to there.
No blame, no shame when it comes to financial mistakes of the past. As Elsa would say, "Let it go."
p. 50 - A financial plan should be like planning a vacation to Europe: Make a plan that leaves room for the unexpected.
p. 64 - When tempted to “treat yo-self,” remember that you’re doing it at the expense of something more important later.
p. 70 - We can’t control the stock market, but we can control how much we spend and how much we save.
Automate fixed expenses, but more importantly, automate savings. Otherwise, you’ll find a way to weasel out of it.
p.126 - “In a world where things we once considered luxuries have somehow become necessities, it can be difficult to separate needs from wants.”
p. 166 - temporary stock market declines are just part of investing, no matter how scary they are.
Key takeaways:
p. 17 - Although putting together your financial plan takes time, you will end up actually saving time every single year because of it.
p. 18 - A great plan isn't about getting everything exactly right, but making your best guess about how to get from here to there.
No blame, no shame when it comes to financial mistakes of the past. As Elsa would say, "Let it go."
p. 50 - A financial plan should be like planning a vacation to Europe: Make a plan that leaves room for the unexpected.
p. 64 - When tempted to “treat yo-self,” remember that you’re doing it at the expense of something more important later.
p. 70 - We can’t control the stock market, but we can control how much we spend and how much we save.
Automate fixed expenses, but more importantly, automate savings. Otherwise, you’ll find a way to weasel out of it.
p.126 - “In a world where things we once considered luxuries have somehow become necessities, it can be difficult to separate needs from wants.”
p. 166 - temporary stock market declines are just part of investing, no matter how scary they are.
June 15, 2022
A well narrated audiobook that was easy to follow and not overly complicated. Learned a bit and felt encouraged to learn to handle my economy as it doesn't have to be something complicated
July 27, 2020
A book about a level of financial planning that has to happen, but the other books assume you've already done: finding out what you want in life.
It always seems like a lot of financial books want you to be in a state of panic, even desperation, about how bad things are for you now, and how much better they could be, if only you gave up Starbucks and avocado toast, and followed their advice.
This book is like, "Maybe build some of that avocado toast into your budget. That's what a budget is there for, after all: balancing everything you want."
This is an awareness book; you'll need other books to help work out the fine print. This is the little book to read when you feel like giving up on financial planning and budeting, not the great big compendium of everything you need to become a multimillionaire.
Recommended if you want to get better at money, but don't know where to begin.
It always seems like a lot of financial books want you to be in a state of panic, even desperation, about how bad things are for you now, and how much better they could be, if only you gave up Starbucks and avocado toast, and followed their advice.
This book is like, "Maybe build some of that avocado toast into your budget. That's what a budget is there for, after all: balancing everything you want."
This is an awareness book; you'll need other books to help work out the fine print. This is the little book to read when you feel like giving up on financial planning and budeting, not the great big compendium of everything you need to become a multimillionaire.
Recommended if you want to get better at money, but don't know where to begin.
September 15, 2022
چطور مشتریان، مشتریان یا بیماران جدید و نحوه کسب سود بیشتر از آنهایی که در حال حاضر هستند، استفاده کنید.
چرا بازاریابی سبک تجاری “بزرگ” می تواند کسب و کار و استراتژی های خود را که در واقع برای کسب و کارهای کوچک و متوسط کار می کنند، بکشد.
چگونه در هنگام تبدیل جداول و داشتن چشم انداز از شما که پول خود را به دست می آورید، فروش را بدون اینکه متزلزل، نیازمندان یا ناراحت کننده باشید کنار بگذارید.
فرایند ساده گام به گام برای ایجاد طرح شخصی بازاریابی شخصی که به معنای واقعی کلمه یک صفحه است. به سادگی همراهان خود را دنبال کنید و هر کدام از 9 مربع را که برنامه بازاریابی یک صفحه خود را تشکیل می دهند، پر کنید.
چگونه رقبا را از بین ببرید و تنها انتخاب منطقی خود را انتخاب کنید.
چگونه می توانید نتایج شگفت انگیز در بودجه کوچک با استفاده از اسرار بازاریابی مستقیم پاسخ.
چگونه هزینه های بالای محصولات و خدمات خود را بپردازید و مشتریان واقعا از آن برای شما متشکریم.
چرا بازاریابی سبک تجاری “بزرگ” می تواند کسب و کار و استراتژی های خود را که در واقع برای کسب و کارهای کوچک و متوسط کار می کنند، بکشد.
چگونه در هنگام تبدیل جداول و داشتن چشم انداز از شما که پول خود را به دست می آورید، فروش را بدون اینکه متزلزل، نیازمندان یا ناراحت کننده باشید کنار بگذارید.
فرایند ساده گام به گام برای ایجاد طرح شخصی بازاریابی شخصی که به معنای واقعی کلمه یک صفحه است. به سادگی همراهان خود را دنبال کنید و هر کدام از 9 مربع را که برنامه بازاریابی یک صفحه خود را تشکیل می دهند، پر کنید.
چگونه رقبا را از بین ببرید و تنها انتخاب منطقی خود را انتخاب کنید.
چگونه می توانید نتایج شگفت انگیز در بودجه کوچک با استفاده از اسرار بازاریابی مستقیم پاسخ.
چگونه هزینه های بالای محصولات و خدمات خود را بپردازید و مشتریان واقعا از آن برای شما متشکریم.
November 23, 2019
This is the best financial planning book I've read in a long time. It's smart, honest, simple and helps you decide what's important. I have a theory that trust funders make the worst financial planners, and the best are people who have gone broke. It's why Dave Ramsey is so effective; he lost everything once and he has empathy that people who have never broken a financial sweat will never have. This author had to short sale his house, and it gives his advice a seasoned quality. Highly recommend.
January 21, 2018
This book is more about a common sense philosophy about money than it is an actual plan. Richards' sketches are a creative way to illustrate his perspective, but you won't come away from this book knowing a path forward. I think that's one of the reasons people like Dave Ramsey and Suze Orman are so popular - they actually tell you specific things to do, and in the end I think that's what most people want. Or is it just me?
June 25, 2015
The premise of this book definitely caught my eye, but the content didn't turn out to be very useful. I'm in a good place financially but have NO idea what my retirement needs are, how my current savings stack up against those needs, and I've pretty much given up on understanding what actually goes on with my IRA. I thought this book might help break down some of those issues for me.
Instead, the book is more of a guide about how to think about money than it is a guide that tells you what to do with your money. Which is fair enough. I could see people who struggle to budget their money or who don't stay on top of their finances benefiting from the advice in this book. I know first hand of some marriages that would definitely benefit from following the advice about talking about money.
I'm a lunatic who checks my bank account multiple times a day and budgets and rebudgets way more than is necessary, so a lot of this advice was stuff I'm already doing. And unfortunately, when it got to the investment talk I felt just as baffled as I always do when I try to really figure this stuff out. I finished the book thinking exactly what I've been thinking for several years, which is that I'm just going to keep putting money into my investment accounts and hope for the best.
So I'm back where I started, without much to show for it. I imagine this would be a great read for anyone who considers themselves pretty financially inept or who is looking for a simple guidebook to getting themselves on track.
Instead, the book is more of a guide about how to think about money than it is a guide that tells you what to do with your money. Which is fair enough. I could see people who struggle to budget their money or who don't stay on top of their finances benefiting from the advice in this book. I know first hand of some marriages that would definitely benefit from following the advice about talking about money.
I'm a lunatic who checks my bank account multiple times a day and budgets and rebudgets way more than is necessary, so a lot of this advice was stuff I'm already doing. And unfortunately, when it got to the investment talk I felt just as baffled as I always do when I try to really figure this stuff out. I finished the book thinking exactly what I've been thinking for several years, which is that I'm just going to keep putting money into my investment accounts and hope for the best.
So I'm back where I started, without much to show for it. I imagine this would be a great read for anyone who considers themselves pretty financially inept or who is looking for a simple guidebook to getting themselves on track.
June 11, 2016
I love Carl Richards and his sketches are top notch. If you have never read a personal finance book then I highly recommend this to you. That said, as the title probably suggest, this is an entry level book for personal finance novices. It is very readable and a nice reminder that there are some good advisors out there and their work makes a valuable contribution to their client's lives. Nothing revelatory here, but a wonderful contrast to the noise and confusion manufactured by Wall Street to separate people from their money.
September 20, 2020
В оригинале книга называется "Одностраничный финансовый план".
Основная идея - сначала определитесь с ценностями и целями на 30, 20, 10 лет и ближайшие два-три года. После этого выбирайте финансовые инструменты.
Цитирует Богла, который рекомендует 60% портфеля держать в акциях (42% американский индекс, 18% зарубежный), 40% в облигациях.
При этом в виде депозитов должна быть сумма, покрывающая наши 10-летние расходы.
Основная идея - сначала определитесь с ценностями и целями на 30, 20, 10 лет и ближайшие два-три года. После этого выбирайте финансовые инструменты.
Цитирует Богла, который рекомендует 60% портфеля держать в акциях (42% американский индекс, 18% зарубежный), 40% в облигациях.
При этом в виде депозитов должна быть сумма, покрывающая наши 10-летние расходы.
September 16, 2015
Short, readable and non-technical focusing on the human aspects of getting your finances, and life, in order. Some good advice.
March 29, 2024
This book is the perfect starting point for beginners in personal finance. While it's true that some people might find financial planning intimidating and confusing, this book comes to the rescue and makes the important concepts concise and clear.
The author doesn't assume that you already know everything about managing money, and touches on the most important fundamentals of financial psychology that you would not usually find in technical-based books.
It doesn't throw you to sprint into the running track without teaching you how to jog.
It's written in a straightforward and easy-to-understand format, making it one of the most approachable books to motivate people in creating a financial plan for themselves. You'll be surprised how far you can go using this book, just by writing down one page at a time.
The author doesn't assume that you already know everything about managing money, and touches on the most important fundamentals of financial psychology that you would not usually find in technical-based books.
It doesn't throw you to sprint into the running track without teaching you how to jog.
It's written in a straightforward and easy-to-understand format, making it one of the most approachable books to motivate people in creating a financial plan for themselves. You'll be surprised how far you can go using this book, just by writing down one page at a time.
January 21, 2018
As the first financial planning book I’ve read (I know, I know. I’m sorry), this was a good choice. The tone is logical and encouraging, and it doesn’t present a one-size-fits-all approach. The author is, in fact, adamantly against such approaches. He encourages the reader to ask himself/herself a couple of thought-provoking questions to get started. I took this to heart and noted my answers, which will be good to have going forward.
Time will tell if this is one of those rare life-changing books, but for now, I at least feel nudged in a positive direction.
Time will tell if this is one of those rare life-changing books, but for now, I at least feel nudged in a positive direction.
September 10, 2021
„Planul de o pagină ar trebui să includă între trei până la cinci lucruri care sunt foarte importante în momentul prezent:
– Răspunsul la întrebarea De ce sunt banii importanți pentru mine?
– Estimările tale privind obiectivele financiare
– Datoriile pe care va trebui să le achiți„
https://ciobanuldeazi.home.blog/2021/...
– Răspunsul la întrebarea De ce sunt banii importanți pentru mine?
– Estimările tale privind obiectivele financiare
– Datoriile pe care va trebui să le achiți„
https://ciobanuldeazi.home.blog/2021/...
June 7, 2020
It’s hard to get me excited about finances or financial planning but I can honestly say I really liked this book. Carl explains things in a direct and simple way. I have some clear takeaways from reading this and I’ve now created a physical one-page financial plan!
September 12, 2021
Good Read for a Beginner to get a grasp on Financial Planning ....
One best part from book :
How you spend your time is equal to how you spend your money
1. Set aside a time
2. Get out of the house
3. Let go of the past
4. Adopt a “no shame, no blame” attitude
5. Skip over goals—for now
Life happening when we were busy making other plans
Understand that nothing will change unless we change our behavior
One best part from book :
How you spend your time is equal to how you spend your money
1. Set aside a time
2. Get out of the house
3. Let go of the past
4. Adopt a “no shame, no blame” attitude
5. Skip over goals—for now
Life happening when we were busy making other plans
Understand that nothing will change unless we change our behavior
December 26, 2023
Quick re-read before our annual budget meeting
January 21, 2018
Сгодится для первых попыток взять свои финансы под контроль без риска умереть от скуки.
March 12, 2022
It is not a bad book but I found it a bit boring. I didn't learn anything new. Maybe the book is more suitable for beginners. I think Chapters 1-3 are somewhat innovative. Anything after chapter 4 has been already covered by many other books.
I found his other book "The behavior gap" slightly better.
I found his other book "The behavior gap" slightly better.
August 23, 2021
Carl Richards provides a simple and practical approach to financial planning. One you start the process it does not looks intimidating as most people assume financial planning to be. Though this is a US centric book, there are words of wisdom which can be applied by anyone.
June 2, 2017
I like a book that's easy on the eyes, especially if said-book is gonna focus on numbers. "The One-Page Financial Plan" is more about what's behind the numbers that make up one's life (related specifically to money, of course.)
Not exactly a primer, this book is a quick, easy, confident read that will take you through how Mr. Richards approaches working with his clients to help them create simple but meaningful financial plans. Though I've never met him, I can see the author leaning forward with a marker in hand and drawing crude, friendly diagrams. On the whole, his doodles are disarming, funny, and a helpful addition to the text.
Probably, folks who read financial books won't be shocked by anything written here. Also, as with most books of this ilk --there's zero discussion of the fact that not all the readers will be middle-to-upper-middle class, and many will be victims of our country's unequal systems. I can't exactly fault this book for that, but it certainly gets tiresome reading advice that denies the broader realities.
That said, this is a solid advice-book with simple, easy-to-do-at-home exercises that may/may not be revealing depending on how much you understand how your financial life connects to your emotional life. Plus, I really liked Mr. Richard's last statement before the acknowledgments. I'm not gonna ruin that for you.
Not exactly a primer, this book is a quick, easy, confident read that will take you through how Mr. Richards approaches working with his clients to help them create simple but meaningful financial plans. Though I've never met him, I can see the author leaning forward with a marker in hand and drawing crude, friendly diagrams. On the whole, his doodles are disarming, funny, and a helpful addition to the text.
Probably, folks who read financial books won't be shocked by anything written here. Also, as with most books of this ilk --there's zero discussion of the fact that not all the readers will be middle-to-upper-middle class, and many will be victims of our country's unequal systems. I can't exactly fault this book for that, but it certainly gets tiresome reading advice that denies the broader realities.
That said, this is a solid advice-book with simple, easy-to-do-at-home exercises that may/may not be revealing depending on how much you understand how your financial life connects to your emotional life. Plus, I really liked Mr. Richard's last statement before the acknowledgments. I'm not gonna ruin that for you.
July 22, 2021
In the book jacket, it says the author is a "certified financial planner" but if he was certified by cfpboard.net he would know that this is not the proper way to present this credential. That aside, this book is very derivative. The author also gets several things quite wrong in my opinion (and I am, in fact, a CERTIFIED FINANCIAL PLANNER™ professional) including renting vs owning real estate, stating that the single variable that will determine how a mutual fund will perform is cost, and emphasizing DIY planning and investing over working with a qualified advisor. It's interesting that there is not more emphasis placed on the value of working with a CFP®, especially in the final chapter on hiring an advisor. There is no mention of all the wonderful resources available at letsmakeaplan.com for consumers seeking to find a qualified advisor, given that the author claims to be a CFP® (I could not find him listed on the CFP Board website as a credentialed advisor in Utah, BTW). If you are looking for better understanding of financial planning and investing, I would recommend starting with David Bach's books (Smart Couples Finish Rich, Smart Women Finish Rich, etc). Bach gives a much better comprehensive overview, and does not portray all financial planners as a caricature of a very bad advisor as Richards does.
August 21, 2017
This book stands tall among many personal finance books. Where most give a prescription without diagnosis this asks the reader to figure out what is important and move forward from that point. I applaud the author's frankness in espousing advice. He says (rightfully so) that he is an authority, but cannot know the position of each reader so to take his advice with some flexibility.
I found myself rereading passages in this and comparing my finances with the goals and benchmarks I now have thanks to this book. I would not call the ideas in this book world altering but given the proper respect and discipline they can be life changing. If you have friends and family who know nothing about finance this is one of the first books they should read. If you want a reminder on what is important when looking at your or someone else's money, this is a great refresher.
I found myself rereading passages in this and comparing my finances with the goals and benchmarks I now have thanks to this book. I would not call the ideas in this book world altering but given the proper respect and discipline they can be life changing. If you have friends and family who know nothing about finance this is one of the first books they should read. If you want a reminder on what is important when looking at your or someone else's money, this is a great refresher.
June 5, 2015
Carl appears to have genuinely walked the talk, which is something that a lot of financial planners have not been able to demonstrate!
The investment advice is not likely to be ground breaking for most however this is what makes the book worth the read. He talks about mastering the psychology behind investing as well as looking at goals rather tha purely investments..
worth a read to evaluate your financial life
The investment advice is not likely to be ground breaking for most however this is what makes the book worth the read. He talks about mastering the psychology behind investing as well as looking at goals rather tha purely investments..
worth a read to evaluate your financial life
January 11, 2022
Книга о психологии и ментальных ловушках применительно к финансовому плану. Мне понравилось, как она написана — с историями, забавными иллюстрациями и логичной структурой.
Минусы те же, что у других книг по финансам американских авторов — описанные инструменты и ситуации зачастую применимы только в США. если ищете что-то похожее для пост-советского пространства, советую обратить внимание на автора по имени Владимир Савенок
Минусы те же, что у других книг по финансам американских авторов — описанные инструменты и ситуации зачастую применимы только в США. если ищете что-то похожее для пост-советского пространства, советую обратить внимание на автора по имени Владимир Савенок
July 24, 2015
This has decent advice. Now you just have to decide the reasons you want money and what your driving values are. I like this better than Dave Ramsey. Many of the ideas for money are the same, but Carl doesn't cram it down your throat like Dave has a tendency to do.
November 5, 2015
2.5 stars. I would recommend this book for someone who is just beginning to budget or plan for retirement. I didn't find a lot of "meat", however, and would probably offer a Dave Ramsey book first.
May 14, 2016
Definitely a good quick read for someone who wants to understand the basics. This could save a person in their 20s from a whole lot of pitfalls.
June 28, 2019
This is more a money mindset book, how to reframe your relationship with money, than a book that actually teaches you about financial strategies and jargon.
As someone who ascribes to a minimalist philosophy in mind and spirit, in addition to physical wealth, I really dig this book. It's not a one-size fits all solution to getting rich; it's about identifying what you value in life and for your future and making sure that the way you spend your money aligns with what you value. Values and alignment. It doesn't get better than this.
Furthermore, there's just some really great life advice here that echoes a lot of valuable lessons I've learned in a recent personal development academy and are really relevant to my own areas of improvement. Things like, "Don't worry about getting it 'right.' You can--and should--simply course-correct your guess when you notice yourself going off track." Or, this can apply to much more than finances, "Give yourself permission to use the past as a springboard to save more, not a billy club to hit yourself." And this really resonates with me, "When we have to prioritize our goals, many of us become paralyzed, and as a result do nothing."
One point Richards makes, which totally makes sense to me, is to see things from the perspective of what you gain, rather than what you lose. I've been gawking at a pair of earrings at my retail job for weeks now. Love them. I could make up a million stories of why I should buy them (they look great on me, I don't have any earrings and it would be nice to have them for special occasions, I get an employee discount, etc.). However, when I think about my values--travel, time with loved ones, environmentalism, saving for a comfortable and early retirement--I'm suddenly not drawn to the earrings anymore. They don't serve any of those values, and that makes it so much easier to walk away without purchasing them.
Also, this 100% confirmation bias, but Richards echoes what I know about diversified portfolios, index funds, which just makes me trust him more. You won't ever find me following the advice of people who speculate on single companies or sectors and call that "investing..."
I do wish there were a worksheet or checklist at the end to complete all the steps, or some way to organize action items. I read this all at once before doing all the steps, and now I've got to go back and find all the action items.
As someone who ascribes to a minimalist philosophy in mind and spirit, in addition to physical wealth, I really dig this book. It's not a one-size fits all solution to getting rich; it's about identifying what you value in life and for your future and making sure that the way you spend your money aligns with what you value. Values and alignment. It doesn't get better than this.
Furthermore, there's just some really great life advice here that echoes a lot of valuable lessons I've learned in a recent personal development academy and are really relevant to my own areas of improvement. Things like, "Don't worry about getting it 'right.' You can--and should--simply course-correct your guess when you notice yourself going off track." Or, this can apply to much more than finances, "Give yourself permission to use the past as a springboard to save more, not a billy club to hit yourself." And this really resonates with me, "When we have to prioritize our goals, many of us become paralyzed, and as a result do nothing."
One point Richards makes, which totally makes sense to me, is to see things from the perspective of what you gain, rather than what you lose. I've been gawking at a pair of earrings at my retail job for weeks now. Love them. I could make up a million stories of why I should buy them (they look great on me, I don't have any earrings and it would be nice to have them for special occasions, I get an employee discount, etc.). However, when I think about my values--travel, time with loved ones, environmentalism, saving for a comfortable and early retirement--I'm suddenly not drawn to the earrings anymore. They don't serve any of those values, and that makes it so much easier to walk away without purchasing them.
Also, this 100% confirmation bias, but Richards echoes what I know about diversified portfolios, index funds, which just makes me trust him more. You won't ever find me following the advice of people who speculate on single companies or sectors and call that "investing..."
I do wish there were a worksheet or checklist at the end to complete all the steps, or some way to organize action items. I read this all at once before doing all the steps, and now I've got to go back and find all the action items.
April 4, 2020
A professor told me that if I am confused about a topic/something, it is best to go back to the root and check your understanding of the framework inclusive the literal meaning. —I guess it perfectly describes the book.
I believe all of us have our own struggle especially regarding financial planning because naturally, we have limited resources and our wants exceeds our available resources. Before some of you gets overly excited about the title, remember that it still depends on what you’re looking for in a book. As there are always two sides of a coin I will point out 𝘸𝘩𝘺 𝘐 𝘭𝘪𝘬𝘦 𝘪𝘵 and 𝘩𝘰𝘸 𝘪𝘴 𝘪𝘵 𝘭𝘢𝘤𝘬𝘪𝘯𝘨.
I really like it because it brings back your understanding about money💰The author is really against the ‘one-size-fits-all’ financial plan because all of us have different goals and values besides our unique situations. The book talks you through in creating your very own one-page financial plan tailored to your financial needs, goal, and values. It’s a really brief book of 208 pages and I believe you can breeze through it. But, as usual, you will take some time to answer the questions, think, get into the details, and plan because surely planning takes time.
It’s really helpful how the author provides stories of his clients to assist our understanding of some situations and to help us make decisions however, as the author are focusing on the uniqueness, the ending is rather vague instead of definite. This is where you need to do a lot of work get back on your financial statements, track your spending & borrowing, do budgeting, get details for diversified investment decisions, managing risk and avoiding mistakes, and etc. Nothing comes easy.
The book only give you tid bit of understanding and a general idea about how you can start your financial plan not what you should do. I wouldn’t suggest if you’re looking for another cliché read about investment speculations or some sort. But for me, I really liked this book because it’s insightful and kind of fit my expectations 😌✨
I believe all of us have our own struggle especially regarding financial planning because naturally, we have limited resources and our wants exceeds our available resources. Before some of you gets overly excited about the title, remember that it still depends on what you’re looking for in a book. As there are always two sides of a coin I will point out 𝘸𝘩𝘺 𝘐 𝘭𝘪𝘬𝘦 𝘪𝘵 and 𝘩𝘰𝘸 𝘪𝘴 𝘪𝘵 𝘭𝘢𝘤𝘬𝘪𝘯𝘨.
I really like it because it brings back your understanding about money💰The author is really against the ‘one-size-fits-all’ financial plan because all of us have different goals and values besides our unique situations. The book talks you through in creating your very own one-page financial plan tailored to your financial needs, goal, and values. It’s a really brief book of 208 pages and I believe you can breeze through it. But, as usual, you will take some time to answer the questions, think, get into the details, and plan because surely planning takes time.
It’s really helpful how the author provides stories of his clients to assist our understanding of some situations and to help us make decisions however, as the author are focusing on the uniqueness, the ending is rather vague instead of definite. This is where you need to do a lot of work get back on your financial statements, track your spending & borrowing, do budgeting, get details for diversified investment decisions, managing risk and avoiding mistakes, and etc. Nothing comes easy.
The book only give you tid bit of understanding and a general idea about how you can start your financial plan not what you should do. I wouldn’t suggest if you’re looking for another cliché read about investment speculations or some sort. But for me, I really liked this book because it’s insightful and kind of fit my expectations 😌✨
September 18, 2018
The author's straightforward, conversational tone made me feel like I was sitting down with him over a cup of coffee. There were only a few suggestions that I hadn't already encountered in other books about personal finance, but I'm so glad I read this one. Carl (I feel like I know him on a first name basis) asserts that money is a tool to accomplish our goals and live out our values, and because those are different for every person our financial plan should be as well. There are very few rules of thumb that the author suggests, and when he does, he offers a lot of justification for the need to customize your plan. He acknowledges the emotional aspects of money and offers insights on how to work through them. I'm so glad I read this. Ultimately, Carl let me off the hook. I realized that I don't have to try to force myself to read the Business section of my newspaper or learn to decipher the stock exchange symbols scrolling at the bottom of the tv in order to make smart money decisions for myself and my family.
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