Gary Belsky – Why Smart People Make Big Money Mistakes book review

In a nutshell (224 pages), this is a very well written book of fallacies and heuristics. What’s nice about the book, however is that they don’t speak about fallacies and heuristics. There are, as the authors have identified, common errors that even very smart people can make with their money. And there are solutions to those problems.

What I got out of it

The book looks into some pretty wild phenomenon’s that many of us have probably fell victim to in some shape or form while investing. This book does a good job of illustrating these problems and really bringing them to life. The advice offered to reframe the situations and deal with them is well thought through and explained.

What was difficult

There’s nothing really difficult about the book. If you’ve read widely and if you’ve read a lot about finance and personal finance you may not find quite as much as you would hope for in this book, however.

Recommendation

This is a great book for anyone who handles their own finances, and a good book for anyone who doesn’t. Even if you are very knowledgeable of personal finance you will get less out of the book, but you will still get useful insights, I’m sure.