A summary of things you should know about The Opposite of Spoiled according to Ron Lieber: Introduction In this episode bestselling author Ron Lieber takes a deep dive into hisRead More
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]]>In this episode bestselling author Ron Lieber takes a deep dive into his book, The Opposite of Spoiled, where he reveals a parenting strategy that helps children become smart about money.
In his book Lieber delivers a practical guide packed with examples, strategies, and stories that help parents teach their kids the basics of generating money and why it’s important for their future. The goal of the book is to help parents talk openly about money with children in order to ensure that their children grow up to be modest, generous, and financially smart in the future.
This book is perfect for entrepreneurs who have or are planning on having children and want a simple guide to start teaching them about financial responsibility in their earlier years of life.
There have been a handful of excellent books about kids and money in the past but the explicit connection that I was trying to make between money and values is the one that I think sets it apart.
The book is designed to be read from front to back.
I want readers to understand that when the questions come about money that it is our job to stop what we are doing, turn away from the laptop, put down the phone, and really engage. Kid’s sole job is to be curious and it’s our job to answer their questions.
In chapter one I explain to readers just how it is that the book came to pass and why the book is timely right now. I explain why we need to talk about money, what it means to honor our children’s curiosity about money, the fact that they are naturally curious about money and it’s our job to answer them.
In chapter three I discuss allowance and the debates of the issue, whether you should pay for chores or expect kids to do chores as a matter of course. I think allowance is a teaching tool and tool for learning. I don’t think you should take it away if the kids aren’t doing their chores. I do think kids should do all sorts of chores but if they are not performing them adequately we should take away their privileges.
And then I offer up a chapter on all sorts of ways for kids to think about spending and I have an hour for fun per dollar test to apply to toys that they are thinking about buying. I give you examples of family rituals and things that you can do with your kids around spending and saving that help them understand what you value and hopefully imprint some lessons for them.
The next chapter is about materialism and how to spot it. I talk about everything from tooth fairies and the amount of money that gets spent on travel teams to what goes on in private schools and how some of them are making efforts to become more modest.
Then there is an entire chapter on giving, generosity, and gratitude. Gifts of everything from one dollar to a million dollars are covered and the families of all sorts who have given them.
The next chapter is about why kids should work, about the importance of paid work, and why every kid should work as a teenager.
The last chapter in my book is about tradeoffs, gratitude, and perspective on your place in the world.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 06:24
I am the Your Money columnist for The New York Times where I have been working since 2008 and I also contribute to our parenting blog which is called Mother Load.
The main inspiration was my own daughter; The Opposite of Spoiled is really a generational manifesto of a promise to our kids and to one another that we will do better at explaining all this money stuff to them.
The Behavior Gap by Carl Richards
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]]>A Quick Look at 5 of the Latest Books for Entrepreneurs The Entrepreneurs Library presents some of the latest books for entrepreneurs in February 2015. These books are brand newRead More
The post Latest Books for Entrepreneurs in February 2015 appeared first on The Entrepreneurs Library.
]]>The Entrepreneurs Library presents some of the latest books for entrepreneurs in February 2015. These books are brand new to the market and the authors are in line to give a thorough deep dive of their books. Stay tuned this month for the release of the interviews with these great books and their authors.
The Opposite of Spoiled is both a practical guidebook and a values-based philosophy. The foundation of the book is a detailed blueprint for the best ways to handle the basics: the tooth fairy, allowance, chores, charity, saving, birthdays, holidays, cell phones, checking accounts, clothing, cars, part-time jobs, and college tuition.
But The Opposite of Spoiled is also a promise to our kids that we will make them better with money than we are. It is for all of the parents who know that honest conversations about money with their curious children can help them become more patient and prudent, but who don’t know how and when to start.
“Finally, an honest, modern, comprehensive and nuanced book about kids and money. Parents report that conversations about money fill them with so much dread and confusion that they change the subject rather than dive in. The Opposite of Spoiled comes to the rescue.” – Wendy Mogel, author of The Blessing of a Skinned Knee
“The Opposite of Spoiled is a thoughtful, and often inspiring, book that also delivers dozens of smart, practical tips for turning conversations about money into lessons about living. If you’ve got kids, want kids — or heck, have been a kid — read this book.” – Daniel H. Pink, author of Drive and To Sell is Human
Learn more about Ron Lieber | Buy The Opposite of Spoiled on Amazon
Relayed in the same easy-to-understand language that has made The Neatest Little Guide to Stock Market Investing such a staple in the investing community, The 3% Signal is sure to become your most trusted guide to investing success. Simple and effective, Kelly’s plan can be applied to any type of account, including 401(k)s — and requires only fifteen minutes of strategizing per quarter.
The plan’s simple technique cuts through the folly of human emotion by reacting intelligently to price changes and automatically buying low and selling high.
“We often hear, and have come to believe, that models beat experts. Kelly offers the individual investor a simple, mechanical model that instills discipline, removes a lot of self-sabotaging emotion, and has a good track record. Will it continue to outperform? Actually, it just might.” — Brenda Jubin, “Reading The Markets” book review at Investing.com and ValueWalk
Learn more about Jason Kelly | Buy The 3% Signal on Amazon
You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but Kotlikoff, Moeller, and Solman explain Social Security benefits in an easy to understand and user-friendly style. Many personal finance books briefly address Social Security, but none offers the thorough, authoritative, yet conversational analysis found here.
Get What’s Yours covers the most frequent benefit scenarios faced by married retired couples, by divorced retirees, by widows and widowers, among others. It explains what to do if you’re a retired parent of dependent children, disabled, or an eligible beneficiary who continues to work, and how to plan wisely before retirement. It addresses the tax consequences of your choices, as well as the financial implications for other investments.
“Choosing when to take Social Security is one of the biggest decisions of your life. By doing it right, you can add hundreds of thousands of dollars to your lifetime income and leave more money for your spouse as well. This great book tells you how . . . and it’s funny, too!” — Jane Bryant Quinn, author of Making the Most of your Money NOW
Learn more about Larry Kotlikoff | Buy Get What’s Yours on Amazon
In the trademark Ken Blanchard style, the authors tell the compelling story of Larry and Janice Sparks, who discover how to see each day as an opportunity to enhance their relationships, stimulate their minds, revitalize their bodies, and grow spiritually. As they learn to be open to new experiences, Larry and Janice rekindle passion in every area of their lives.
Ken Blanchard and Morton Shaevitz point out that some people see their later years as a time to endure rather than as an exciting opportunity. Readers will find humor, practical information, and profound wisdom in Refire! Don’t Retire. Best of all, they will be inspired to make all the years ahead truly worth living.
“Once in a while a book comes along that should be featured on every talk show. Refire! Don’t Retire is just such a book. Read it and you will experience aging in a whole new way. A must-read for anyone who plans on getting old.” — Richard Leider, bestselling author or coauthor of The Power of Purpose, Repacking Your Bags, and Life Reimagined
“If you answer only one-third of the questions at the end of each major section, this book will be worth its weight in gold! It is not only for those considering retirement but also for anyone interested in the pursuit of love, learning, and longevity.” — Beverly Kaye, founder of Career Systems International and coauthor of Love ‘Em or Lose ‘Em; Love It, Don’t Leave It; and Help Them Grow or Watch Them Go
Learn more about Ken Blanchard and Morton Shaevitz | Buy Refire! Don’t Retire on Amazon
Peter Bregman, author of the Wall Street Journal bestseller 18 Minutes, offers strategies to replace energy-wasting, counter-productive habits that commonly derail us with truly effective ones.
In Four Seconds, Peter Bregman shows us how to replace negative patterns with energy boosting and productive behaviors. To thrive in our fast-paced world all it takes is to pause for as few as four seconds—the length of a deep breath—allowing us to make intentional and tactical choices that lead to better outcomes. Four Seconds reveals:
“Peter Bregman is back, this time with an even faster way to find your focus and get back on track when life throws you off. His honesty and empathy for his own failings make Four Seconds a refreshing read.” – Daniel H. Pink, author of To Sell Is Human and Drive
“This book is priceless, a book that could change your career, your marriage, your life. I hope you get a chance to read it.” – Seth Godin, author of The Icarus Deception
Learn more about Peter Bregman | Buy Four Seconds on Amazon
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