Book Review: A Bundle of Wisdom by Noel Whittaker
The best value $20 can buy
Australia is honoured to have Noel Whittaker, author of “Making Money Made Simple” listed as “One of the most 100 influential books of the 20th Century”, as one of their own.
Noel has devoted his life to improving the financial well-being of Australians. Even in his latter years, he continues to fulfil this role as the father figure of financial advice in Australia. Packaging up four of his most valuable titles in a A Bundle of Wisdom is a fantastic gift to the Australian community.
No can can ever say they can’t afford to understand how to manage their money.
In my Money Smart Tips in 3-Minutes a Day, Series 5, Investments, I commence with this statement:
My first Money Smart Tip for Series 5, is to spend $20. I want you to go to Noel Whittaker’s website and download A Bundle of Wisdom. If you read these four books, most people will never need to read another book about finance.
Making Money Made Simple
I first read this book in 1987, the first year of publication and it has been my favourite book to recommend to people who want to get the simple facts about money quickly and simply.
This book is now in its 22nd Edition (2016). There are very few modern books in their 22nd Edition. The reason is, that this book is in a class of its own – worldwide. I need say no more.
Noel says that this version is essential for anyone keen to set their life on a sound financial footing. At the end of each chapter, make sure you read his “Money Clips”.
This book is a down to earth money guide for all.
Golden Rules of Wealth
This is another of my old favourites, I first read in 1996. The 7th Edition was written in 2017.
Making sound financial decisions is not “Rocket Science”. As Noel says:
Decide to be a ‘have – not a ‘have not’.
In this book, Noel sets out in the order, 40-things every person should understand about money. If you take the time to read each of these, I am sure you will not be one of the 30% of the population whose financial stress has damaging effect on their mental and physical health, relationships and productivity at work.
To be honest, there is absolutely no reason why anyone, can’t apply these 40-principles of investing to their personal lives. It’s common sense laid out for you to follow.
Please take up Noel’s challenge. His last last piece of advice is:
The best investment you can make is developing your skills.
Superannuation Made Simple
I still have a forerunner to this book “Big Dollars – Superannuation made Simple” (1996) sitting on my bookshelf.
The 2017 version of Superannuation made Simple updates the recent changes to Superannuation.
Many people think that because their Superannuation is managed for them, they have little control over the outcome. This is far from the truth. Here Noel will explain what you can do to keep your superannuation money safe and grow that wealth.
For most people, their superannuation will be the major portion of their investments in retirement. Following some very simple words of wisdom from Noel Whittaker could ensure you have thousands of dollars more in that account when your retire.
Noel says he has found that many people are cynical about Superannuation. However, he explains why Superannuation is such a good option and how you can use it to your best advantage.
Reading this book is something should not put off.
Beginners’ Guide to Wealth
This book was co-authored with Noel’s son, James, who brings a new perspective to finance. This book was written specifically for the young. James worked closely with high school students guiding them to take ownership of their lives.
The book’s opening statement is:
To the young people of the world: our future depends on you.
Written specifically for young people, the book says that the aim is show the challenges which lie ahead and guide our youth into a success pattern rather than a failure pattern.
It not only sets out the pathway to manage their money better, but is an inspirational book. This book inspires our youth to take up the challenges which lie ahead.
While the book was written for our teenagers, I think every parent should read this book. Every responsible parent needs to set a good financial example and engage with their children on the subject of money.
A number of notable experts in the field all say every family should have a “Money Night”. This book is an excellent place to start.
Finally for those of you who enjoy these books and want to read more about the history of finance in Australia, please read by Book Review 25 Years of Whitt and Wisdom by Noel Whittaker.
Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.