Why Smart People Do Stupid Things with Money: Overcoming Financial Dysfunction

by Bert Whitehead and Bert Whitehead M.B.A. J.D.

Book Overview

Bert Whitehead, named one of the "Best 60 Financial Advisors in America" by Worth magazine, has a unique "behavioral finance" approach that goes beyond mere number crunching to help people understand and overcome the complex psychological baggage they bring to their financial decisions. Tested and confirmed by hundreds of Bert's clients--including celebrities such as Andrew Weil, MD, who wrote the foreword for the book--this system shows readers how...

• Format: Paperback
• Language: English
• ISBN: 1402766890
• ISBN13: 9781402766893
• Release Date: June 2009
• Publisher: Sterling
• Length: 230 Pages
• Weight: 0.90 lbs.
• Dimensions: 0.8" x 5.4" x 8.2"

Customer Reviews

Liz Blue Eyes can see the light through the fog

Read Liz Blue Eye's review if you want to understand the value of this book by someone who is not a financial adviser. In this age of mega corps, advertising conglomerates ans questionable motives, it's hard to see who the good guys really are. I also have no affiliation with Bert Whitehead, publisher etc., but I have met Bert, read his books, and heard him speak. I am familiar with his practice model and philosophy. Bert is one of those few people who had the courage and insight to follow his integrity-bound instincts and practice financial planning the way it should be done versus how everybody else was doing it. He is both brilliant and a good communicator and we are fortunate to be able to read about his discoveries and insights that he has acquired after several decades of relatively "quiet" diligent work. He is not burdened with an inflated ego or the narcissistic plague. Those looking for real insights will not necessarily agree with all of Bert's thoughts, but no one will fail to acquire new ones. JWood, CFP, ChFC, CLU, CASL

A must read!

I give this book to every one of my new clients and require them to read it. Bert's financial smarts were acquired over 35 years of practice, trial and error. He really knows his stuff.

A financial book with common sense

To be clear, I am not a friend or relative of the author, nor am I associated with his publishing house or anything like that. I am giving this a five-star review because it deserves it. The author is great at disseminating the identities that people take on regarding finance- such as the Scrooge, the Traveler, etc. He makes it abundantly clear why we think and feel the way we do about money. He encourages us to go into our earliest memories regarding money (if they're anything like mine, they're not so pleasent). I was really impressed with this book. I just finished reading "Conscious Finance" (different authors), and this was far better. It explores the belief systems behind our actions, and then tells us how to actually CHANGE those beliefs. You know, the part most financial books leave out! Finally, a financial advisor with the courage to tell us that financial magazines are nuts for telling us to switch around our portfolios every time there's a full moon! I always intuitively knew this, but I was grateful to have back-up from an expert. This is not a get-rich-quick book. Hardly. I'd say it was refreshingly conservative and reaffirming- the author doesn't demand that you never take on student debt, assume that everybody reading his book must already make $100,000+ a year, or tell you that paying your kid's college tuition payment should be your no. 1 priority in life. No. He speaks to those that don't make a fortune, don't have a degree in finance, and don't always have their s*** together. Finally! I can read a book on finance and not feel guilty! That said, he makes great points about saving and consumer debt- nothing really new, but without a bunch of complicated, left-brained, holier-than-thou nonsense. I felt encouraged after reading his book. That is a new one for me. For anyone who reads Money magazine or the like and feels like a failure because they don't have $10,000 to invest in some new stock or mutual fund every month, may I respectfully suggest reading this book. It will be an eye-opener.

A financial book with common sense

To be clear, I am not a friend or relative of the author, nor am I associated with his publishing house or anything like that. I am giving this a five-star review because it deserves it. The author is great at disseminating the identities that people take on regarding finance- such as the Scrooge, the Traveler, etc. He makes it abundantly clear why we think and feel the way we do about money. He encourages us to go into our earliest memories regarding money (if they're anything like mine, they're not so pleasant). I was really impressed with this book. I just finished reading "Conscious Finance" (different authors), and this was far better. It explores the belief systems behind our actions, and then tells us how to actually CHANGE those beliefs. You know, the part most financial books leave out! Finally, a financial advisor with the courage to tell us that financial magazines are nuts for telling us to switch around our portfolios every time there's a full moon! I always intuitively knew this, but I was grateful to have back-up from an expert. This is not a get-rich-quick book. Hardly. I'd say it was refreshingly conservative and reaffirming- the author doesn't demand that you never take on student debt, assume that everybody reading his book must already make $100,000+ a year, or tell you that paying your kid's college tuition payment should be your no. 1 priority in life. No. He speaks to those that don't make a fortune, don't have a degree in finance, and don't always have their s*** together. Finally! I can read a book on finance and not feel guilty! That said, he makes great points about saving and consumer debt- nothing really new, but without a bunch of complicated, left-brained, holier-than-thou nonsense. I felt encouraged after reading his book. That is a new one for me. For anyone who reads Money magazine or the like and feels like a failure because they don't have $10,000 to invest in some new stock or mutual fund every month, may I respectfully suggest reading this book. It will be an eye-opener.

At once radical and easy to understand.

Radical because instead of being based on how numbers or huge investors work, it's based on how people work. Easy to understand because once you know what you're talking about, it's all common sense. No schemes or gimmicks, nothing that forces you to be financial guru. Bert Whitehead shares tools and techniques you've never heard of (because they don't make money for the stockbrokers or insurance salesmen) but that have proven themselves with real clients over the last thirty years. Learn what you need to know to make yourself (not your financial advisor) more financially secure.