The “Wealth Matters” columnist of The New York Times reveals the habits, worldviews, and practices that lead to true wealth—and why it’s more important to be “wealthy” than “rich.”
For the better part of the past decade, Paul Sullivan has written about and lived among some of the wealthiest people in America. He has learned how they save, spend, and invest their money; how they work and rest; how they use their wealth to give their children educational advantages but not strip them of motivation. He has also seen how they make horrendous mistakes. Firsthand, Sullivan knows why some people, even “rich” people, never find true wealth, and why other people, even those who have far less are much wealthier.
Sullivan is part of the “The One Percent” today, but he came from far humbler roots, starting life in the bottom twenty-five percent. This personal book shows how others can make better financial decisions—and come to terms with what money means to them. It lays out how they can avoid the pitfalls around saving, spending and giving their money away and think differently about wealth to lead more secure and less stressful lives. An essential complement to all of the financial advice available, this unique guide is a welcome antidote to the idea that wealth is a number on a bank statement.
|Publisher:||Simon & Schuster|
|Product dimensions:||6.20(w) x 9.00(h) x 1.00(d)|
About the Author
Paul Sullivan writes the “Wealth Matters” column for The New York Times and is the author of The Thin Green Line: The Money Secrets of the Super Wealthy and Clutch: Why Some People Excel Under Pressure and Others Don’t. His articles have appeared in Fortune, Conde Nast Portfolio, The International Herald Tribune, Barron’s, The Boston Globe, and Food & Wine. From 2000 to 2006, he was a reporter, editor, and columnist at the Financial Times. A graduate of Trinity College and the University of Chicago, Sullivan lives in Fairfield County, Connecticut.
Table of Contents
Prologue: Lunching with Wealthy People 1
Think About It 21
1 The Overlooked Simplicity of Buckets 23
Save It 33
2 Checking Stock Quotes Is Hazardous to Your Wealth 35
3 Debt and the Bordeaux Dilemma 57
4 The Futility of Fretting about Taxes 79
Spend It 91
5 Spending Tips from People Who Spend a Lot but Aren't Broke 93
6 The Education Race: Where the Wealthy Spend and Why It Matters 117
Give It Away 141
7 The Entitlement Conundrum: What Really Ruins Kids 143
8 How Did Giving Money Away Become Difficult? 169
Think About It Again 191
9 Money Causes Stress for Everyone 193
Epilogue: It's Better to Be Wealthy Than Rich, Even If You're Poor 211