If you have ever bought a personal finance book, watched a TV
show about stock picking, listened to a radio show about getting out of debt,
or attended a seminar to help you plan for your retirement, you’ve probably
heard some version of these quotes:
“What’s keeping you from being rich? In most cases, it
is simply a lack of belief.”—Suze Orman, The Courage to Be Rich
“Are you latte-ing away your financial future?”—David
Bach, Smart Women Finish Rich
“I know you’re capable of picking winning stocks and
holding on to them.”—Jim Cramer, Mad Money
They’re common refrains among personal finance gurus.
There’s just one problem: those and many similar statements are false.
For the past few decades, Americans have spent billions of
dollars on personal finance products. As salaries have stagnated and companies
have cut back on benefits, we have taken matters into our own hands, embracing
the can-do attitude that if we’re smart enough, we can overcome even daunting
financial obstacles. But that’s not true.
In this meticulously reported and shocking audiobook,
journalist and former financial columnist Helaine Olen goes behind the curtain
of the personal finance industry to expose the myths, contradictions, and
outright lies it has perpetuated. She shows how an industry that started as a
response to the Great Depression morphed into a behemoth that thrives by
selling us products and services that offer little if any help.
Olen calls out some of the biggest names in the business,
revealing how even the most respected gurus have engaged in dubious, even
deceitful, practices, from accepting payments from banks and corporations in
exchange for promoting certain products to blaming the victims of economic catastrophe
for their own financial misfortune. Pound Foolish also
disproves many myths about spending and saving.
Weaving together original reporting, interviews with
experts, and studies from disciplines ranging from behavioral economics to
retirement planning, Pound Foolish is a compassionate and
compelling audiobook that will change the way we think and talk about our
Download and start listening now!