Talk about money 5/8

The Algebra of Wealth offers a strategy for achieving financial security, developed over a lifetime of hard work and backed up by tons of great research. But the development of our wealth-building muscles is a never-ending process, and no book can answer all your questions. Something I hope you get out of these emails and the book itself is the confidence and motivation to go beyond the book. 

TALK ABOUT MONEY

Rich people (and employers) perpetuate this notion that people aren’t supposed to talk about money, that it’s somehow impolite. What bullshit. We live in a capitalist society, by choice or not, and money is the operating system of that society. Of course the people who have the money don’t want everyone else talking about it; they might learn something. Musicians talk about music, coders talk about code, golfers talk about golf (incessantly—giving up golf is not something I regret). We are all, like it or not, capitalists, so why don’t we talk about money? 

Talk about money with your spouse. That’s the most important economic relationship you have, and you need to know where you are on the same page and where you’ve got gaps. Talk about money with your kids. They aren’t going to learn about it in school: Only six states require high school classes in personal finance. Talk about money with your employer. Secret markets are inefficient markets, and I promise you, your employer benefits from that inefficiency more than you do. Talk about money with your friends. You’ll gather intel on compensation, refine your strategies for reducing taxes, benchmark your budgeting acumen, stress‑test your emergency plans. Normalize talking about money so you can get better at money.