Koncocoo

Best Personal Finance

Unshakeable: Your Financial Freedom Playbook
After interviewing fifty of the world’s greatest financial minds and penning the #1 New York Times bestseller Money: Master the Game , Tony Robbins returns with a step-by-step playbook, taking you on a journey to transform your financial life and accelerate your path to financial freedom. -The core four principles that most of the world’s greatest financial minds utilize so that you can maximize upside and minimize downside. * The New York Times * Tony Robbins is a philanthropist and #1 New York Times bestselling author.
Reviews
"There are a few books that I have read, and even before I finished them, realized that they changed something significant about my life. They absolutely mean you need to read it, because all of the principles in the list make sense, and you can know you should do them, but unless you know how, that knowledge is useless. Or you can instead learn from the masters. Read Tony’s book and not only will you learn from him, but you will learn from those he has known and worked with, some of the wealthiest and most successful investors on the planet. You will also learn how to choose a financial advisor of your own, where to set up your retirement funds and how, and even more. If you don’t read another book about building wealth and finances this year, make reading this one a top priority."
"One of the best books about financial freedom that I've read, not only about financial wealth but also about happyness."
"I feel anyone can benefit by reading this book, but especially those just starting out."
"One of the most important books I have ever read."
"Bought this as a gift."
"But as someone interested in learning more after reading his Money Master the Game book, this was hugely disapointing. Read Money Master the Game if you want something from him. Also, I find it funny that Robbins makes it seem like investing is the only way to get rich."
"Tony's book started out fine with John Bogle writing the forward, and with Tony explaining Bogle and Buffets perfect investment philosophy for everyman, investing in ETF's or Vanguard funds, in a diversified portfolio of indexes."
"The gist of this book 1) Ride out the market through highs and lows, don't panic and 2) Fees will eat away at your returns, so choose low fee index funds."
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Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not!
In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dad: his real father, whom he calls his ‘poor dad,’ and the father of his best friend, the man who became his mentor and his ‘rich dad.’ One man was well educated and an employee all his life, the other’s education was “street smarts” over traditional classroom education and he took the path of entrepreneurship a road that led him to become one of the wealthiest men in Hawaii. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them").
Reviews
"This is an enhanced reprint of the original, with additional study questions/ discussion and review added at the end of every chapter. Some key concepts of this book are: 1) Assets put money in your pocket even when you are on vacation. A great foundation book for beginning to improve your financial intelligence so that you don't work 4 or more month's of every year for the Tax man, more months for the banks that hold your mortgage and credit cards, and whatever is left making the company you work for wealthy."
"Robert takes you on a quick childhood journey, then deep into the thought process of financial intelligence, as he calls it."
"My favorite part was the story about Robert as a kid when his rich dad first started teaching him about money, especially the story of Robert and his friend "making money". This book made me rethink my decisions and emotions about money and nearly every chapter, though some parts were repetitive, offered new insight and ways to consider finances, even down to how, as a business owner, I should be paying myself first and then the bills."
"Anyway, I purchased it after listening to a talk by Hal Elrod (The Miracle Morning) and him saying it was one of the most life changing books he's read."
"The fact that there is information that completely contradicts itself is ridiculous."
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The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Hey, if you’re tired of the lies and sick of the false promises, take a look at this—it’s the simplest, most straightforward game plan for completely making over your money habits. Design a sure-fire plan for paying off all debt—meaning cars, houses, everything Recognize the 10 most dangerous money myths (these will kill you) Secure a big, fat nest egg for emergencies and retirement! He first exhorts the reader to take "baby steps," which are designed to build on each other: first, save $1,000 as an emergency fund; then, pay off all debts from smallest to largest; save a larger three-to-six-month emergency fund; finally, start to save for college and pay off your home mortgage. So states Ramsey, author and radio show host, offering a comprehensive plan to get out of debt and achieve financial fitness. His seven-step plan includes paying off all debts except the home mortgage at an accelerated speed, creating a financial safety net that covers three to six months' expenses, investing 15 percent of income in a retirement fund, and saving for children's college expenses.
Reviews
"The baby steps are pretty straightforward: Baby Step 1 – $1,000 to start an Emergency Fund - you'll find this way easier than you expect to. Baby Step 3 – 3 to 6 months of expenses in savings. Baby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement. Baby Step 5 – College funding for children. Baby Step 6 – Pay off home early. Baby Step 7 – Build wealth and give. The rules are simple: 1) Live and breathe by your budget."
"In 4 months, I paid off my car loan, all credit cards and doctor bills!!!"
"* He lays out his seven Baby Steps and makes them simple to understand. * I really liked the quote, "If you worked for a company called YOU Inc. and you managed money at YOU Inc. the way you manage your own money now, would you fire you?" Dave Ramsey is rich because he is a business owner who can make money from his radio show, books, seminars, programs, etc. It would have been great to get his advice on that, but he probably didn't want to overwhelm the reader with too many topics. College loans can be very appropriate for some people, business loans can be great in the right situation, and his statement that you should put money toward paying down debt rather than getting the company 401(k) match seemed too extreme to me. goals or having an accountability partner, which have been shown to greatly help people achieve all kinds of dreams."
"Dave Ramsey's book allowed me to gain a new perspective about saving money, budgeting, and investing."
"It’s just common sense that will allow anyone to get on the road to financial freedom and success. He gives the advice found In this book away for FREE."
"Didn’t put out any information that wasn’t common sense but did put it out in an understandable way that didn’t talk down to someone who would be new to trying to get a handle on their finances."
"Work the baby steps. Yes, It's hard and it's work, but it is SO worth it when you can say you are debt-free except for the mortgage."
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Best Budgeting & Money Management

The 4-Hour Workweek, Expanded and Updated: Expanded and Updated, With Over 100 New Pages of Cutting-Edge Content.
The new expanded edition of Tim Ferriss’ The 4-Hour Workweek includes: • More than 50 practical tips and case studies from readers (including families) who have doubled income, overcome common sticking points, and reinvented themselves using the original book as a starting point. • Real-world templates you can copy for eliminating e-mail, negotiating with bosses and clients, or getting a private chef for less than $8 a meal. • How Lifestyle Design principles can be suited to unpredictable economic times. • The latest tools and tricks, as well as high-tech shortcuts, for living like a diplomat or millionaire without being either. -- Dr. Stewart D. Friedman, Adviser to Jack Welch and Former Vice President Al Gore on Work/Family Issues, Director of the Work/Life Integration Project, The Wharton School, University of Pennsylvania "Stunning and amazing. -- Phil Town, #1 New York Times Bestselling Author of "Rule #1 "The 4-Hour Workweek is a new way of solving a very old problem: just how can we work to live and prevent our lives from being all about work?
Reviews
"Don't get me wrong, Ferriss makes some excellent points and he's got some really great tips and tricks in here, I'm just not sure how universal they really are. I thought he was just talking about ways to spend less time working, but that "The 4-Hour" just sounded good (since he now has a whole line of books with titles that start that way). I never did understand the point of retirement, so Ferriss's plan sounds much more appealing to me. Granted, that would make my job a whole lot more portable, but I could never get away with only working four hours per week (at least not until after I sell that bestselling novel, which is such a realistic plan!). I, too, thought I could get another job within a few months, but that did not turn out to be the case. So, if I go spend all my money on a mini-retirement now, and then come back only to find that I can't get a job for another year, I'll be screwed. I love them, but they have enough to deal with right now, and the last thing I want to do is burden the people around me because I decided to go globe-trotting for a few months."
"Practicing the book context for over 2 months now."
"First edition was easier to read."
"Mostly conceptual with a few chapters of application, this book introduced me to mind blowing concepts (automated business, outsourcing and traveling inexpensive etc.)."
"With that said, the book does outline some good strategies to get through the workday quickly and enjoy more time with your family."
"Seriously, he begins by admitting he first made his fortune selling (allegedly) nutritional supplements that cost almost nothing to make and weren't based on science, but were then hyped to the point the uninformed public was paying through the nose to get it. This gave him ideas on how to further hype his message to an even larger audience, without bothering to sell anything tangible. He then gives advice about "paraphrasing and combining points from several books," borrowing from the public domain, and/or compensating some other "expert." Apparently, not knowing a damn thing is a virtue he calls "Cultivating Selective Ignorance." If having an educated and well-informed populace is fundamental to having a flourishing democracy, this is how we'll end up with a plutocracy where the stupidest few prey on the desperate and stupid masses, while outsourcing all the jobs they might create. Outsource everything -- including your brain -- to a 3rd World Country: He hires virtual assistants in various 3rd World Countries, especially India, who are then given fabulous access to all of his personal information to the point they can pretend to be him and make all of his personal and business decisions. Hey, what could possibly go wrong by hiring complete strangers and giving them all information about you in order to think for you, do your work and run your errands? Just tell him you're too busy and further kill morale by then asking those other suckers - aka, co-workers - for a quick breakdown of what happened."
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Best Credit Ratings & Repair

The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Hey, if you’re tired of the lies and sick of the false promises, take a look at this—it’s the simplest, most straightforward game plan for completely making over your money habits. Design a sure-fire plan for paying off all debt—meaning cars, houses, everything Recognize the 10 most dangerous money myths (these will kill you) Secure a big, fat nest egg for emergencies and retirement! He first exhorts the reader to take "baby steps," which are designed to build on each other: first, save $1,000 as an emergency fund; then, pay off all debts from smallest to largest; save a larger three-to-six-month emergency fund; finally, start to save for college and pay off your home mortgage. So states Ramsey, author and radio show host, offering a comprehensive plan to get out of debt and achieve financial fitness. His seven-step plan includes paying off all debts except the home mortgage at an accelerated speed, creating a financial safety net that covers three to six months' expenses, investing 15 percent of income in a retirement fund, and saving for children's college expenses.
Reviews
"The baby steps are pretty straightforward: Baby Step 1 – $1,000 to start an Emergency Fund - you'll find this way easier than you expect to. Baby Step 3 – 3 to 6 months of expenses in savings. Baby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement. Baby Step 5 – College funding for children. Baby Step 6 – Pay off home early. Baby Step 7 – Build wealth and give. The rules are simple: 1) Live and breathe by your budget."
"In 4 months, I paid off my car loan, all credit cards and doctor bills!!!"
"* He lays out his seven Baby Steps and makes them simple to understand. * I really liked the quote, "If you worked for a company called YOU Inc. and you managed money at YOU Inc. the way you manage your own money now, would you fire you?" Dave Ramsey is rich because he is a business owner who can make money from his radio show, books, seminars, programs, etc. It would have been great to get his advice on that, but he probably didn't want to overwhelm the reader with too many topics. College loans can be very appropriate for some people, business loans can be great in the right situation, and his statement that you should put money toward paying down debt rather than getting the company 401(k) match seemed too extreme to me. goals or having an accountability partner, which have been shown to greatly help people achieve all kinds of dreams."
"My daughter had lifted herself out of debt, and has been doing everything as planned."
"This book has been adopted for the South African situation, but needs to be extended to other parts of Africa."
"We are currently on Dave Ramsey’s plan and have a clearly mapped plan to get out of debt."
"On Time, As described, What more could you ask?"
"Great book."
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Best Retirement Planning

The Simple Path to Wealth: Your road map to financial independence and a rich, free life
“In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart.” -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian. This book grew out of a series of letters to my daughter concerning various things—mostly about money and investing—she was not yet quite ready to hear. Since money is the single most powerful tool we have for navigating this complex world we’ve created, understanding it is critical. Bridges to build, diseases to cure, treaties to negotiate, mountains to climb, technologies to create, children to teach, businesses to run. Here’s an important truth: Complex investments exist only to profit those who create and sell them. TRFs (Target Retirement Funds), HSAs (Health Savings Accounts) and RMDs (Required Minimum Distributions). And powerful.”. “…effective message told in a visual, funny style.”. “…a refreshingly unique and approachable take on investing.”. “JL Collins has the gift of making boring financial concepts funny and interesting.”. “Instead of esoteric equations about measuring a stock's alpha and comparing it to its beta, he lights up the campfire and starts telling stories.”. I started selling flyswatters door-to-door and picking up empty pop bottles from the side of the road for the 2-cent deposit. Mail clerk, tree-trimmer, landscaper, ad agency founder, account executive, ad space salesman, investment officer, entrepreneur, consultant, sales trainer, speaker, writer, radio talk show host and magazine publisher. But I’ve had the good fortune to see a bit of the planet on my own: Mexico, Canada, Ireland, Wales, England, Greece, Crete, Puerto Rico, Tahiti, Venezuela, Curacao, Scotland, Italy, Germany, Spain, Paris, India, Kashmir, Goa, Nepal, Zanzibar, Tanzania, Eleuthera, St. Thomas, St. Martin, Barbados, Antigua, Martinique, Ecuador, Perú, Bolivia, Chile, Prague, Guatemala, Galápagos. I’ve traveled by plane, train, bus, boat, subway, taxi, hired car, motorcycle, bicycle, rickshaw, hitch-hiking, foot, horse, donkey and elephant. Here’s my favorite cartoon: The visual is two guys in a corn field, up on racks dressed in shabby clothes. Our daughter Jessica graduated Summa Cum Laude from the University of Rhode Island.
Reviews
"I support self-published financial authors because the traditional publishers deploy editors to tweak the author’s voice, and original story, to make the final “processed” book more sellable. Instead, self-published authors do not have to satisfy shareholders, or generate sales, so the author’s message about Bogle’s investment philosophy and the company he founded, Vanguard, remains organic for the readers’ best interest. This book is perfect for beginners, and some seasoned investors who are sick and tired of searching for that short-term investment miracle. The Simple Path to Wealth basic message to beginners is well-known in the Do It Yourself (DIY) investing culture: • think long-term. • live below your means. • plan ahead with a fully diversified portfolio (except international stocks, more on this below). • invest in Vanguards low-cost index funds. Sooooo, what is not to like? This book shows you how to like saving with minimal time and effort to discover the investing process. The author discusses investment costs, taxes, tax-deferred retirement plans offered by employers, the retirement years and strategies to keep from running out of money. My favorite chapters are “Why I don’t like Investment Advisers” and “Some final thoughts about risk.” Financial advisers are an easy target with hundreds of reasons not to like. Most of us DIYers will never need a financial adviser, for two good reasons: Collins writes “Nobody cares about your money more than you do,” and “you can learn to manage your money yourself with far less cost and better results.” From my personal experience, knowing how to save investment costs alone was enough to pay cash for the Tesla Model S. On the subject of risk, my favorite part, and I quote as the author was speaking to the zombie apocalyptics among us especially the financial media: “Major Armageddon extinctions events, like the asteroid that took out the dinosaurs some 65 million years ago, have happened about five times. His rationale is spot on, but portfolio construction and asset allocation strategies and information can be found in many books (The Boglehead Guide to Investors, any book written by Jack Bogle or his followers, Ferri, Swedroe, Roth, and Bernstein). In my working career, I could not even contribute the maximum allowed in my 403(b) plan let alone save 50% of my income (No, I never had new car payments because I could not afford car payments and invest too). The author knows he will get pushback, and he probably has heard my argument for international investing many times. Diversification means investing in all available stocks, worldwide. IMO, the author might be reflecting his age because he says that investing in the United States domestic market is enough diversification because of the worn-out global connections argument. Not having to pay capital gains taxes after investing in the Roth IRA is one of the best strategies for us regular investors (You can run the numbers on a brilliant Excel program created by The Finance Buff). I recommend to readers who don’t have a “lump sum” that is, a bundle of money to invest already, that you ignore the “Why I don’t like dollar cost averaging” chapter. I had to use DCA during my entire working career investing in my 403(b). If you have a lump sum to invest, follow the author’s advice. Collin’s strong opinions about some of his investment ideas represent more of his individuality than sound investment practice. In sum, if any author self-publishes a book about investing, I think it is important to readers to know that the message is organic—no other agenda item hangs in secret, other than to explain and lay out a simple plan which will connect with new investors and get them results."
"This has changed my mind in the way that I view the stock market, financial advisors, and accumulating wealth."
"Great book, I felt like I was sitting down with a wise Uncle getting life altering and sound advice."
"I had arrived at the same conclusion on my own though I don't know nearly as much as Collins about all of the alternatives, and I'm happy to say this book made me a whole lot smarter about the different ways that I don't want to try getting wealthy."
"I've read a number of these retire early books, and so far this one is the best in terms of the math and the financial planning needed to make it happen."
"Does a decent job of describing mutual funds and debt avoidance."
"I've been investing over 30 years and wish I'd read this in my teens!"
"My only regret is that I didn't have this book sooner, as I am nearing retirement, and this would have been great advice to have when I was younger, (perhaps I might even have listened) This would be a very good book to gift to a young person beginning their career."
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Best Investing

Mindset: The New Psychology of Success
People with a fixed mindset —those who believe that abilities are fixed—are less likely to flourish than those with a growth mindset —those who believe that abilities can be developed. She introduces a phenomenon she calls false growth mindset and guides people toward adopting a deeper, truer growth mindset. “One of the most influential books ever about motivation.” —Po Bronson, author of NurtureShock “If you manage people or are a parent (which is a form of managing people), drop everything and read Mindset .” —Guy Kawasaki, author of The Art of the Start 2.0. In other words, you are who you are, your intelligence and talents are fixed, and your fate is to go through life avoiding challenge and failure. Dweck provides a checklist to assess yourself and shows how a particular mindset can affect all areas of your life, from business to sports and love. as well as for those who would like to increase their own feelings of success and fulfillment.” —Library Journal (starred review) “Everyone should read this book.” —Chip Heath and Dan Heath, authors of Made to Stick “One of the most influential books ever about motivation.” —Po Bronson, author of NurtureShock “If you manage people or are a parent (which is a form of managing people), drop everything and read Mindset .” —Guy Kawasaki, author of The Art of the Start 2.0.
Reviews
"The book is valuable for its conceit: that there are two types of mind-sets; the growth and the fixed. It's an informational book, but not a great book."
"However, most of the book seems to focus on discussing the difference between "fixed mindset" and "growth mindset" applied to different fields. It is like the author uses the entire book to emphasize how important "growth mindset" is but doesn't really offer much help."
"The challenge and joy of language is its power, to demoralize, teach, frighten, motivate, punish, reward…. Dr. Dweck is a Psychology Professor at Stanford University. Dr. Dweck believes people view the world with only two fundamental vantage points: “fixed” or “growth.” Those with a fixed mentality believe we are born as we are born, and there is no changing that: IQ and “natural talent” dictate all accomplishment. Those with a growth orientation believe we can always learn, always rise above our challenges, always try again and gain something in the process. If we praise efforts rather than results; if we acknowledge that failure teaches; if we decide that we can always learn a little more, we’re doing well in fostering a growth mindset. But, instead, “I want to;” “I appreciate that…”. Lauren Williams, Certified Professional Organizer, Owner, Casual Uncluttering LLC, Woodinville, WA, USA."
"Having a simple model like this is very useful if you understand the details behind it and the book mixes reporting on research with anecdotes to give the concepts both a good psychological basis and resonance for readers."
"Excellent book if you wish to grow."
"If readers are getting a lot out of this book, great."
"The book is filled with (unverifiable) anecdotes and authors seems to think that everything happened because someone had a fixed or a growth mindset."
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Best Business Ethics

Start With Why: How Great Leaders Inspire Everyone To Take Action
Start with Why analyses leaders like Martin Luther King Jr and Steve Jobs and discovers that they all think in the same way - they all started with why. Simon Sinek explains the framework needed for businesses to move past knowing what they do to how they do it, and then to ask the more important question- WHY ? A perspective that is nothing short of the truth.” -MOKHTAR LAMANI, former ambassador, special envoy to Iraq SIMON SINEK , the bestselling author of LEADERS EAT LAST and TOGETHER IS BETTER, is an optimist who believes in a brighter future for humanity.
Reviews
"It reads a little bit like he took articles from his blog, stuck them in a large word-processing document, did some minor editing, and submitted the thing as-is for publication in order to create this book. As far as I can tell, if you're reasonably intelligent you can glean pretty much everything essential to Sinek's idea based on his TED Talk together with this understanding that "HOW" means something different in each of the two contexts he contrasts. What you WON'T get from that is his rather in-depth, incredibly clear exposé of why the "WHAT --> HOW" communication pattern requires manipulating people to some degree or another and why that is by necessity unsustainable in the long run. So in short, the book is a reasonable buy, certainly at the Kindle price, but do consider benefitting from Sinek's wisdom for free in 20 minutes first by watching his TED Talk."
"This book has inspired many thoughts as I read it, but it has helped me to truly put into perspective the age-old advice to follow your passion."
"If you're a leader this book tells you what you've always known on an instinctive level."
"I teach a college-level business course that shows people how to grow their business by word-of-mouth."
"I am confident this book has indeed the potential to change the world for the better through the life of its readers and organizations they might collaborate with."
"I did believe that the author took some leaps between an organization's existential rational and customer connections."
"The author was trying so hard to make a many-page book out of the message and it was excruciating to go through this repetition.. Save your money and (most importantly) your time and just watch the TED talk on YT.."
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Best Business Negotiating

Never Split the Difference: Negotiating As If Your Life Depended On It
A former international hostage negotiator for the FBI offers a new, field-tested approach to high-stakes negotiations—whether in the boardroom or at home. Whether for your business or your personal life, his techniques work.” (Joe Navarro, FBI Special Agent (Ret.). Those who have benefited from these techniques include business clients generating millions in additional profits, MBA students getting better jobs, and even parents dealing with their kids. Never Split the Difference provides a gripping, behind-the-scenes recounting of dramatic scenarios from the gang-infested streets of Haiti to a Brooklyn bank robbery gone horribly wrong, revealing the negotiation strategies that helped Voss and his colleagues succeed where it mattered most: saving lives. It’s a riveting read, full of instantly actionable advice—not just for high-stakes negotiations, but also for handling everyday conflicts at work and at home.”—Adam Grant, Wharton Professor and New York Times bestselling author of originals and give and take. .It’s required reading for my employees because I use the lessons in this book every single day, and I want them to, too.”—Jason McCarthy, CEO of GORUCK.
Reviews
"The author begins the book by relating his experience at a prestigious seminar at Harvard University. The author discovered that the same techniques used in life and death situations could be generalized--they "made great sense intellectually, and they worked everywhere...In the twenty years I spent at the Bureau we’d designed a system that had successfully resolved almost every kidnapping we applied it to." NEVER SPLIT THE DIFFERENCE is not just about tricky negotiation tactics, or ways to "outwit" your adversary in battle. This also means careful listening, or what the author calls, the martial art of "Tactical Empathy." Each chapter in NEVER SPLIT THE DIFFERENCE begins with a real-life example from the author's involvement with hostage negotiations. The book's title reflects the author's position that compromise, or "Splitting the Difference" is actually a lazy way to conclude a negotiation. Instead of taking the easy way, Chris recommends working relentlessly to see "what is really motivating the other side." All in all, I found NEVER SPLIT THE DIFFERENCE to be an impressive book, filled with practical knowledge, tips, and just plain WISDOM about how to deal with people."
"I've taken approximately 20 hours of graduate study in negotiation and conflict resolution. You will be best aided by these books by taking a chapter at a time and practice the ideas and techniques."
"MAIN CONCEPT: Tactical empathy: “This is listening as a martial art, balancing the subtle behaviors of emotional intelligence and the assertive skills of influence, to gain access to the mind of another person.”. IS IT FUN TO READ: Finished it in a day. The book’s full of riveting life-and-death hostage negotiations, and Voss spins a damn good yarn. But it makes all kinds of sense: letting your adversary say a solid “no” gives them a feeling of safety, security and control -- a great starting point to a negotiation. -- Ali Binazir, M.D., M.Phil., Happiness Engineer; Speaking Coach, KNP Communications; author, The Tao of Dating: The Smart Woman's Guide to Being Absolutely Irresistible."
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Best Sociology of Social Theory

Nudge: Improving Decisions About Health, Wealth, and Happiness
From the winner of the 2017 Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions—for fans of Malcolm Gladwell’s Blink and Daniel Kahneman’s Thinking Fast and Slow. New York Times bestseller. Named a Best Book of the Year by The. Economist and the Financial Times Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion or the planet itself. A school cafeteria might try to nudge kids toward good diets by putting the healthiest foods at front. Thaler and Sunstein: Well, to name just a few: better investments for everyone, more savings for retirement, less obesity, more charitable giving, a cleaner planet, and an improved educational system. These features influence what you will choose to eat, so the person who decides how to display the food is the choice architect of the cafeteria. Good choice architecture can even improve the process of getting a divorce--or (a happier thought) getting married in the first place! Thaler and Sunstein: Those who are in position to shape our decisions can overreach or make mistakes, and freedom of choice is a safeguard to that. One of our goals in writing this book is to show that it is possible to help people make better choices and retain or even expand freedom. Amazon.com: You point out that most people spend more time picking out a new TV or audio device than they do choosing their health plan or retirement investment strategy? Research shows that in many situations people will just delay making a choice altogether if they can (say by not joining their 401(k) plan), or will just take the easy way out by selecting the default option, or the one that is being suggested by a pushy salesman. Since the cost of figuring out which one is best is so hard, an unscrupulous mortgage broker can easily push unsophisticated borrowers into taking a bad deal. Thaler and Sunstein: The human brain is amazing, but it evolved for specific purposes, such as avoiding predators and finding food. "In this utterly brilliant book, Thaler and Sunstein teach us how to steer people toward better health, sounder investments, and cleaner environments without depriving them of their inalienable right to make a mess of things if they want to. The inventor of behavioral economics and one of the nation''s best legal minds have produced the manifesto for a revolution in practice and policy. Thaler and Sunstein provide important lessons for structuring social policies so that people still have complete choice over their own actions, but are gently nudged to do what is in their own best interests. "Two University of Chicago professors sketch a new approach to public policy that takes into account the odd realities of human behavior, like the deep and unthinking tendency to conform. "A manifesto for using the recent behavioral research to help people, as well as government agencies, companies and charities, make better decisions. Just as surprising, it is fun to read, drawing on examples as far afield as urinals, 401(k) plans, organ donations, and marriage.
Reviews
"The book then goes on to recommend how society could be better if we followed some type of Paternal Libertarianism where the ones providing choses like Insurance companies or government services nudge persons to make smarter decisions while being transparent of all the options and not hiding any of them. Most of their suggestions and examples make sense as long as the ones nudging are 100% transparent."
"I wouldn't say this is something you will want to finish in a single sitting, its nice to read sections and reflect on them afterwards, you can better absorb the information and apply when you have had time to review it."
"That’s not where the people who actually make, spend, and invest money actually live and that gap between what the authors term Econs and Humans has historically compromised a lot of otherwise sound economic theory. The ideas in the book are built around what the authors call libertarian paternalism. We are constantly nudged without always being conscious of the nudging. Most of the nudges that Professors Thaler and Sunstein introduce are less invasive and more transparent than the commercial nudges we are already subject to. Things like the “status quo bias”, “pluralistic ignorance”, and “loss aversion” are all existing nudges common to the human psyche. Thaler and Sunstein just want to use these commonplace and natural biases to nudge people toward decisions that they probably want to make but frequently don’t, for reasons having little to do with the value of the intention. For example, in their discussion relating to retirement savings, one chapter is titled, “Naïve Investing”, and the authors suggest ways in which savers could be enticed into more astute strategies by way of theoretically painless nudges. My point is merely that the nudge itself introduces its own contextual bias, creating, in effect, a multi-level bias that the “choice architects,” in the vernacular of nudging, must be cognizant of if the nudging is to realize the original objective of positive paternalistic influence."
"Thaler explains the process and purpose of libertarian paternalism in a variety of contexts."
"It talked about how to structure choices to nudge people in the right direction concerning health, wealth, and happiness. Use incentives because these are powerful pushes for companies and churches to guide people in the right direction."
"In some ways, a bit of overlap from reading Thinking Fast and Slow - or more of a subset of Thinking Fast and Slow."
"Good suggestions."
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