REFLECTING ON THE 2015 CILIP CONFERENCE
Written by Martin Mullin, Head of UK Acquisitions. CILIP is the Chartered […]
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An expos? of the personal finance industry and the irrational choices it leads us to make.
When Helaine Olen joined "The Los Angeles Times," she was flabbergasted to be asked to write a "Money Makeover" column. Knowing nothing about personal finance, she gave it her best shot and soon realized that her ignorance barely mattered. Pretty much anyone could fashion themselves as a money expert.
This experience inspired Olen to investigate the transformation of personal finance-from a few practical, well-meaning, post- Depression advice givers to a multibillion-dollar industry predicated on the promise of quick and easy wealth for everyone.
Weaving together behavioral economics, psychology, and her own reporting, Olen exposes all the ways we've allowed ourselves to be duped-whether by listening to so-called advisers whose main objective is to get rich themselves, placing risky bets on the stock market, or cutting out lattes in an effort to save while ignoring ever-increasing income inequality. Full of shocking stories and data, "Pound Foolish" will allow us to make smarter choices about money by opening our eyes to the realities of where wealth comes from.
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