Dear readers;
Today I am embarking on a bold new project as I commence writing my first book fulfilling a long-time ambition to became a published author.
For as long as I can remember, I have wanted to write a book. I even had it on my official goal list for 2011.
The opportunity presented itself late last year after I was unexpectedly approached by Penguin New Zealand to write a personal finance book geared mainly at Millennials. I couldn't say no even though I'd been warned off the project by sceptics who suggest books are a thing of the past. Be that as it may, the sun hasn't set on the paperback quite yet. And while the business section may be overflowing with finance and money books, I hope to offer something a little different; a personal finance book that extols the reader to explore his or her inner most desires, dreams and goals in order to calibrate them with a financial plan that works not just for the future but with the present.
Having a million dollars in the bank, or more, when you hit retirement age is a laudable goal but if the life you spent working to achieve that is miserable, what is it really worth? Find Your Flow (the working title of my book) is equal parts money management, self-discovery and well-being. The intersection is where you'll find the sweet spot in personal finance I believe. That's because when you Find Your Flow, the money will flow. That's my experience anyway and time will tell where this current is taking me.
My reason for sharing this news, about the book, isn't to gloat, although I won't deny I'm chuffed by the development, as well as being grateful for the opportunity and to my employers for encouraging it. I have an ulterior motive in spilling the beans before publication and that is to solicit your support as well as your stories for inclusion in the book.
Our readership at interest.co.nz is unique in that financial literacy levels are relatively high. That's something we are proud of as we believe it's a reflection of our unique offerings; a mixed palate that includes economics, monetary policy, comparative interest rates, banking & finance news and analysis, currency, bonds, rural news and of course, personal finance. Our readers are no less eclectic and for that we are grateful as your feedback, comments and contributions influence our content and its delivery.
As the writing process for our latest project gets underway, my plan is to release excerpts from various chapters on-line for your review and input. I will also be looking for suggestions, tips and personal success stories (as well as financial failures) to add along the way. As far as I'm aware, this kind of approach hasn't been tested in New Zealand so it will be interesting to see how it unfolds.
To begin, I'd like to put out a call for any personal stories you might like to share (on a first name basis only) about how you have managed to turn your passion into a profitable side line or else your main source of income. My apologies to an earlier reader who volunteered this, but I lost the email if you can resubmit it with added detail I'd be grateful.
Please email me directly with your stories (maximum 500 words to amanda.morrall@interest.co.nz) if you're keen to have them published without identification. My hope is that they will inspire others looking to find their flow.
Thank you in advance for your cooperation. Here's a quote (not mine) that echoes my views and the spirit of the book in its gestational phase.
Mediocrity is a silent killer. It tells you that you'll be fine staying where you are and that you need to be content with it. It guilts you into thinking you're wrong for wanting better. Stop it today.
Amanda Morrall
25 Comments
It's not 'financial literacy' is the issue, Amanda. The truth - and ain't that the ultimate test? - is that those with 'financial literacy' are more than averagely likely to not get what is happening around them at present, or why.
Read EVERY post on this blog:
http://physics.ucsd.edu/do-the-math/
And everything here:
http://www.albartlett.org/index.html
Pick out of this:
http://questioneverything.typepad.com/
After all, these folk you're writing to, they're investing in the future, right? Not the past. You might want to question what 'invest' means, in light of the above homework. Note that they're all physics Professors (I could give you a heap more) which should also be food for thought. Classical - if there is such a thing - Economics was based on a flawed assumption. Fatally so, as should be obvious by now.
This one, of course, isn't a physics Prof, but still - tellingly - trained in the sciences:
http://www.chrismartenson.com/crashcourse
There are a lot of journalists - the majority - in this country, still spouting that the Emperor is in raimernt clad. Someone has to be brave, at some point. They're the one(s) history will remember.
Ethical investment - not necessarily of money - is worth contemplation. The question of what 'wealth' actually is, is another. It isn't having money, nor claiming ownership of a lot of 1's and 0's in some bankers computer.
good luck.
Yes , you could do that , Amanda ...... and it would guarantee that your book is a best seller ........... amongst insomniacs ! . . . . . . Zzzzzzzzzzzzzzzzzzzzzz ........
........ or you could stick to your original plan , and publish a jaunty little volume of good financial advice , coupled with a dash of entertainment ......
P.S. Get Wolly to do the poof-reading , Kunst for art-work , and Gummy to compose the chapter headings ... sweet !
Oh gummy....the book won't be complete without your story. I am dying to know....how you found your finanicial flow. I'll pass on the biological complexities of mid-life manhood. Whatever those complaints might be you blokes got off light! Enuf said....send me your story.
As for title, I am open to suggestions...see how I go here.
Amanda,
First...
Good on you for writing a book!! Awesome effort and all the best!
Secondly...
I think you have two options for the book. Option one is to do the traditional type of Mary Holm/Martin Hawes book where you say pay off your credit card, pay off higher interest first, etc. Put that money into kiwisaver or a managed fund and forget about it. The benefits of kiwisaver and different types of investments, yada, yada, yada. It's all been done before so why try copy it? In the bookstore you are going to be up against all these books which say the same thing.
Another option is to gather information from a varitety of successful people, who have managed to pay off their debts, start a business, save for their OE, invested in property, shares, etc.
I'd rather buy the second one. It's different, unlike any other books in the book store, etc.
I'm 23 and have read literally hundreds of books on money, investment, etc and the ones that stand out for me are "The Barefoot Investor" and "Property Investment Secrets" the Barefoot one is by an Aussie guy and the Property is by Graeme Fowler.
A book with profiles of 20 somethings all doing "cool" things with their money would be a great read in my opinion.
P.S. Most people who comment on here are much older than 20-30 so might pay to get your stories elsewhere?
Great to hear you've burned through the business bookshelf at the age of 23. I hear what you're saying. Please distribute this link far and wide, I'd love to see what comes back..Gen Y gets a bad rap but as usual all the good stories get buried amid the stereotypes and slagging.
Thank you for your interest and encouragement. Hope all that reading is paying off, or will pay off. Knowledge is money so sounds like your flush.
Amanda
This is a good resource: http://www.thetrophykids.com/
or just for a taste of the contents: http://online.wsj.com/article/SB122455219391652725.html
Trophy kids referred to is is mainly millenials.
Not sure whether to be hopeful or not. But sure as hell you will need to include the parents of the millenials as major actors/influencers.
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