Actually, if you can accept Krueger's psychological take, some of his ideas can be very practical. For example, he warns against an "optimism bias," which affects our ability to make rational investment decisions or plan for the future:
What it calls into question is really looking at planning and overcoming an optimism bias that we all have that things are going to work out, that we will get funded somehow and we'll be healthy forever. It really calls into focus the need to realistically envision what life will be like between years 75 and 100, and where income will come from. Not to worry about it, but how to plan for it.
Of course, if you like the psychological side of things, Krueger does manage to channel Freud at least a few times. "Money is one of the two or three more common things that emotional issues hitchhike on," he says. "Others include food and sex. But money, I really believe, leads the way." Right. And sometimes a dollar bill is just a dollar bill.
Secret language of money is complicated [Bankrate.com]
]]>So money can't make up for my sexual shortcomings? Major bummer...
]]>Commodity fetishist! Burn the Marxist!
]]>Putting aside some of the excellent practical points and even some spot-on psycobable, I resent this type of financial wisdom that projects the typical American belief that everyone can find a large degree of independent financial security in our current system of predatory capitalism.
To quote another..."The idea that making the right choices will lead to a particular desired outcome in any endeavor in life is the mindset of the privileged of this world. If you're born with a good set of genes and have the right options in life for economic or career success, that holds true. It simply isn't so for everyone. "
I once made it to the ranks of the privilaged, but an accident stole my health and workers' compensation and health insurance stole my wealth. I did all the right things and had all the safeguards in place (disability insurance, etc.), but they lie.
]]>@jeffbone: The only thing on the paycheck that belongs to me is my name. Anything else belongs to some guy named Bill.
]]>My money is telling me not to waste it on books about talking money.
]]>and now, all is quiet.
]]>Indeed. Piffle on the psychobabble.
I've figured out the simple language my money uses:
"Good bye!!"
]]>