Books: It’s About the Climb

In chapter 5 of Rosell’s book, “The Unluckiest Generation: A New Financial Perspective,” he looks at how the Great Recession, one of the worst economic downturns in nearly a century, impacted Millennials’ perspectives on finances and financial planning. During this period, Millennials, with high hopes, were graduating into one of the worst economies, leading many to take an emotionally driven approach to financial planning and to adopt a conservative mind-set and avoid investing.

Rosell’s book provides a resource, akin to a travel guide, for financial planning to help this generation learn how to invest in themselves and to climb the many mountains that emerge along the journey. Each chapter is tied to his extreme travels and uses what he learned—climbing mountains, trekking, scuba diving, ultra lighting, and more—to distill important financial lessons.

By the end of the book, you’ll have learned the following lessons:

1. You have to pay yourself first.
2. Delay gratification: A penny saved is a penny earned.
3. Get the right tools—financial homes and the furniture that fills them.
4. Diversify 1.0 and 2.0.
5. Play it smart.
6. Get started sooner rather than later.
7. Create a well-crafted plan, and find the right person to guide you on your journey.
8. Overcome the six risks every Millennial faces.
9. Have an attitude of gratitude.

Whether your goal is to amass financial wealth or experiences, you need to have a healthy relationship with money. I’ve always erred on the side of caution regarding finances, with a low risk tolerance where investing is concerned, and this book even got me to start thinking about where I can make changes to invest in a brighter future.

Millennials may be reminded of a certain lyric by Miley Cyrus that was played at my university graduation, “There’s always gonna be another mountain. I’m always gonna wanna make it move. Always gonna be an uphill battle. Sometimes I’m gonna have to lose. Ain’t about how fast I get there. Ain’t about what’s waiting on the other side. It’s the climb.” So take that first step and keep climbing.