Macro Minute: Week of September 2, 2024

I read the new book, No Worries: How To Live A Stress-Free Financial Life. Let me start by saying that I liked it a lot. Jared Dillion is a very good writer and it shows in this book. It is a book that is full of wisdom and good advice. While I do not agree with everything in it, I also don’t necessarily disagree with anything in it.  

This is a book that pushes back against many of the prevailing thoughts in personal finance. Many people will say that it is a bunch of little things that make the difference to your personal finances, while Jared challenges that. He takes the perspective that it is a few major decisions that determine the outcomes. He prescribes that who you marry, how much money you “choose” to make, and your relationship with debt will determine the outcomes much more than making your coffee at home every day.  

I will touch briefly on his view of debt. The section on debt was especially good in my opinion. The use of debt to purchase college, cars, and a home are all areas where people can get into trouble. If you don’t overextend in these areas, it will allow you to live a much less stressed financial life. This is probably my favorite part of the book.  

He even gives a portfolio allocation that is what he calls the awesome portfolio. In it, he gives some pretty good guides that provide a good foundation if you follow them. It is actually similar to some of my own thoughts on portfolio construction about being diversified and holding uncorrelated assets. All throughout the book, he sprinkles in personal examples of his life and others. If you are in the mood for a personal finance book that comes from a bit of a different perspective, I highly recommend that you give it a read. 

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