Heyo! Nik here, with the first edition of The 4 Minute Read iiiiin... Money March! This month, we'll explore some of the latest and greatest titles on finance, saving, and investing — alongside our usual dose of great books on all kinds of topics, of course!
In a book called The End of Average, Todd Rose explains how the US Air Force painfully learned that "the average person" doesn't exist: by designing their new jet cockpits based on average measurements, they had made sure not a single pilot managed to fit in. The same applies to financial advice, and that's why Nick Maggiulli's great new bestseller is filled with a variety of tips around saving more, making more, and investing better. A great collection of advice that reminds me a lot of The Psychology of Money by Morgan Housel. Check it out!
"To build wealth it didn't matter when you bought U.S. stocks, just that you bought them and kept buying them. It didn't matter if valuations were high or low. It didn't matter if you were in a bull market or a bear market. All that mattered was that you kept buying."
— Nick Maggiulli
The Big 3 From the Book
1. Instead of saving a fixed percentage of your income, save more when you earn more and less when you make less.
2. The best way to save more is to earn more, not cut expenses to the point of being miserable.
3. The real question money forces us to answer is what's important to us in life.
David Graeber was one of the most influential anthropologists of our time. A big force in the Occupy movement (remember the people demonstrating on Wall Street after 2008?), he tried to shake us up on the urgency of topics like debt, the futility of most modern work (Bullshit Jobs), and, in this last, posthumously published work, the history of mankind.
The Dawn of Everything retells the story of how we went from hunter-gatherers to city-builders, from the Stone Age to today's modern world, from the ground up. It explores a series of new discoveries made by scientists who are challenging some long-held beliefs about our history.
If you want to better understand the history of humans, watch this video.
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This is one of those rare books that, after you grasp its key concept, you'll never see the world in the same way. Understanding that your brain functions in 2 distinct systems, and how they interact, will allow you to think better, be less biased, and make more accurate judgements. A hall-of-fame classic from a Nobel Prize winner you shouldn't miss!
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