Conor Richardson

The Millennial Money Makeover

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Above: Signing My Official Book Deal

I am very excited to announce that I have officially signed a book deal with Career Press (@CareerPressInc), an imprint of Red Wheel/Weiser Books (@WeiserBooks), for a book release in late 2018.  The last couple of months have been very busy putting the final touches on this deal, and I am extremely thankful to have it finalized.

There will be more information to follow in the coming months, but I thought it was important for my readers to get the news first.  Thank you for your continued readership! This would not have been possible without you.

I look forward to another productive year.

Cheers,

Conor Richardson, CPA
#MillennialMoneyMakeover

Books Will Never Die: A Proclamation Of Value

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Books will never die.

As a medium, high-quality books contain incredible amounts of curated information. And for some reason, even though access is universal, books continue to remain consistently undervalued investments. A good book has the power to change a life or build a fortune.

Consider the example of The Millionaire Next Door, which you can buy with an investment of $16.95. This book is a handcrafted collection of countless research studies, data analysis, and reflection by two highly educated college professors. These professors present the reader with their life’s work in a distilled, easy-to-read and inspiring format. This book highlights the best of what they know. And the research presented pulls back the curtain on the operating system of real-world Millionaires. You can purchase all of that information for less than twenty dollars. The value is enormous.

Any life hacker or investor looks for tremendous value at a discounted price. Today, books offer multiples of value relative to their purchase price. Many books, if followed correctly, have the capacity to change your thoughts, your actions, and your beliefs. These are the books with the special sauce. They are the immediate moneymakers, new frameworks of thought, or pathways to success laid right out in the open, for anyone to consume.

My belief is that books will continue to thrive as a dominant medium. This is why I consistently give a list of recommended books to read. Well today, I want to add a couple more to the list. Here are some new thought-provoking, inspiring, and potentially life-changing books that I have enjoyed over the past several months.

1) The Millionaire Next Door by Thomas Stanley and William Danko

2) I Will Teach You To Be Rich by Ramit Sethi

3) The Millennial Money Fix by Douglas and Heather Boneparth

4) Contagious by Jonah Berger

5) Grit by Angela Duckworth

6) East of Eden by John Steinbeck

7) The Fountainhead by Ayn Rand

8) Villa Incognito by Tom Robbins

9) Bird by Bird by Ann Lamott

If you take the time to carefully read these books, take notes, pay attention, and then have the courage to act on their valuable advice, you just might change. And change for the better.

PS: These books have also been added to my running list of recommended books to read. Enjoy!

Revolving Novelty

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Each generation believes it is superior to its predecessors. Millennials are no different. We believe that we have reached a higher plane of thought. And we are dealing with a unique problem set.

Did the generations before us struggle with work, savings, or debt? Are we truly unique?

The novelty of life is only through your frame of reference. Designing the life you want, savings for financial freedom, and getting rid of debt have been issues cast from one generation to the next. How you handle this revolving novelty defines you.

Book Review: The Millennial Money Fix

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The Millennial Money Fix

When you start writing a blog about money, people want to know your thoughts on all sorts of finance related topics. For those new and old to mastering money, the question of what books to consume always seems to make its way to the top of the list.

Well, last week I was sent The Millennial Money Fix. This book, written by Douglas Boneparth (@dougboneparth) and Heather Boneparth (@averagejoelle), offers a glimpse into some of the major financial issues facing Millennials today.

Douglas is a Certified Financial Planner (CFP) with his own boutique wealth management firm, and his wife, Heather, is a lawyer. The Millennial Money Fix seems to be their creative outlet for telling their story about dealing with what many Millennials face today – massive student loans. The Millennial Money Fix is a cathartic work that aims to help Millennials win the battle over their debt.

One of the main themes the Boneparth’s highlight early in the book is how Millennials face a different work environment than their predecessors, which requires a change in attitude and outlook. There seems to be a different playing field and rulebook needed for success.

Millennials never had an institution to begin with. We don’t need to reinvent ourselves to survive – we need to invent ourselves to thrive. No templates. No pathways to partner.

My favorite point of the book, as a self-proclaimed debt eagle (read the book), is that you must accomplish the basics of personal finance before you begin investing.

You need to earn the right to start investing.

In other words, have you done the work necessary – through setting goals, paying off credit cards or students loans – to begin investing? Have you truly earned the right? The process by which you build your financial bedrock will define your progress. Savings and building up an investment portfolio is only part of personal finance, albeit an important one.

Lastly, the Boneparth’s tackle the idea of financial independence.

Maybe our retirement is not retirement at all. Maybe it’s called financial independence: the pinnacle of our ability to do what we want.

They highlight a fear among many Millennials, that traditional retirement may be a fleeting concept. The Boneparth’s argue that financial independence should be the new goal and the idea of stopping work altogether may be outdated, or unachievable, for many people.

Overall, The Millennial Money Fix is written in a quick-to-read conversational style. I would recommend this book to anyone who is entering college, seriously contemplating graduate school, or financing any type of continued education. It will serve as a cautionary tale and hopefully encourage you to pause and reflect on what could be the biggest financial decision of your life.

Thank you, Douglas (@dougboneparth) and Heather (@averagejoelle) for highlighting such an important topic and for being part of the solution.

The Art of Acquiescence

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“Without gratitude what is the point of seeing, and without seeing what the object of gratitude.” – Epictetus

Accept the past. Better yet, be grateful for it.

If you are trying to turn around your financial situation by paying off a credit card, eliminating a student loan, or trying to reach a savings goal, accepting your past decisions is the first step towards progress.

Embrace your reality and begin fixing your financial life today.

Be grateful for all that you have and don’t fight the past. Instead, focus on the opportunity for progress.

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