What I have been reading - 3rd June 2019
Here are some of the interesting things I have come across in the last week:
Financial Advice for my New Daughter: Morgan Housel, one of my favourite writers, just had a new baby. Here is what he wants her to know.
The Goldilocks Zone of Personal Finance: This is a thoughtful piece from Nick Maggiulli and echoes what I know and see. Many of my wealthiest clients tell me that they found the more they had, the more they stressed. As I always say, everything around money is counter-intuitive.
How to Thrive in Early Retirement: An article in the WSJ explores the life of people retiring at 50 or earlier.
The danger of comparing yourself to others: This is a wonderful short piece from the Farnam Street Blog. Money is one way in which we constantly compare ourselves to others, but it's dangerous. Remember, there will always be someone richer than you. Real financial planning is about getting to the bottom of what matters to you. But as Shane Parrish writes here, it's hard. "Playing to someone else's scoreboard is easy, that's why a lot of people do it. But winning the wrong game is pointless and empty. You get one life. Play your own game."
The wild frauds are the good ones: We humans will always be seduced by a good story. That's why Matt Levine is skeptical about 'financial literacy'. Even financially literate people get sucked into scams. "The point is not for the scam to be financially plausible; the point is for it to be psychologically evocative." Matt Levine is very entertaining - if you have ever been involved in a fraud or a scam, you will enjoy this article.
Frigid Offices Might Be Killing Women's Productivity: I know this article will resonate with almost every woman who has ever worked in a open plan office. In London, I used to keep a heater under my desk! Running my own business has brought many pleasures, some big, some small. Being in full control of the thermostat turned out to be one of the big ones.