As you probably know, The Old Money Book and the other Old Money titles I’ve written often address how America’s Upper Class behave in terms of manners, dress, spending, and lifestyle.
I’ve detailed how anyone from any background can adopt these values, priorities, and habits in order to live a richer life. I’ve touched upon personal finance and (very slightly) upon investing in Old Money, New Woman.
Now, I’m going to address the elephant in the room, as it were: how to accumulate wealth in the first place. The harsh truth of the matter remains: you can’t be Old Money without Money.
I’m writing about this subject because, obviously, I’m well-informed on this subject. I’ve known more than a few people–from affluent and humble backgrounds alike–who have accumulated wealth through a variety of commercial and creative endeavors. I’ve been ‘in the room’ as they’ve dreamed, schemed, achieved, and enjoyed.
As a writer, I tend to absorb and analyze behavior–especially behavior that consistently provides beneficial outcomes–I am now in the process of organizing and articulating the practices and processes that I’ve seen work well.
More importantly, I’m going to present these concepts of wealth accumulation in an accessible, pragmatic manner. This new book is going to be short on ‘Rah rah!’ You can do it!’ cheerleading and large on real-world fundamentals.
The fundamentals will include self-awareness (working at something you’re naturally good at and enjoy), understanding the predictable trajectories that most of our lives take, and, of course, how lifestyle choices impact your ability to hold onto (and grow) money and live a better life.
The book is going to help readers ‘manage their expectations’. I say this not in a negative way: I think every human being has enormous potential. I say this is a ‘planning’ way: ‘If you do this, expect this.’ ‘If you don’t do this, don’t expect that.’
I’m going to present options: you can take this ‘path’ professionally and this is what you can expect if you do. You can follow this ‘plan’ personally and this is what you need to do in order to enjoy these probably outcomes. So this ‘Path & Plan Method’ is going to figure heavily in the text.
As I am still working on the book, details and even the title are still up in the air. My hope, though, is to provide the ambitious reader with direction and guidance through information and example.
Of course, I’ll keep you informed on the progress. Thank you for your continued support and for your participation on the blog. It is greatly appreciated.
I hope everyone is staying well and safe.
- BGT
Outstanding!
Without a doubt, it’s going to be an important book for everyone’s library. I look forward to reading it. And re-reading it. And then – eventually – ‘handing the well-worn copy of it down’ to my family. There’s a fundamental curiosity and universality about the subject that will appeal to each/all of them regardless of their age or current situation.
Thank you, Byron,
Best regards,
Jan
p.s. — or maybe – in the ‘interest’ of time, I should just purchase 99 copies of the book as soon as it’s released???!!!! What do you think?
99 books for Jan…!!! Thank you very much for the kind words. When the book is published, I’ll arrange to have a few complimentary copies sent your way. No sense making the relatives wait. Be safe there. – BGT
What a truly generous offer; however, DON’T YOU DARE!
Surely you recognize a fiercely independent woman when you blog her. I am now; always have been; and always will be. (I’m thinking it must be hereditary.)
But nonetheless, know that I treasure your consideration.
We are all safe, well and gradually returning to some normality.
Now – and I say this with all due respect – get back to work on the new book; you have people waiting impatiently and breathlessly for it!
Thank you again Byron!
Jan
99 books on the shelf for Jan, 99 books on the shelf…you take one down and give to the clan, 98 books on the shelf for Jan! etc., etc., etc. down to 0. Drove bus drivers, teachers, parents crazy! (Parody of 60’s great school bus field trip song back in the day – way back. (Explanation for those of you who weren’t silly American teenagers!)
P.S. I really like your website and have two of your books. Enjoyed them thoroughly; underlined, starred and bracketed a lot (I’m one of ‘those’ people.) Going to order the other two.
Thank you, Cynthia-Claire. Much appreciated. And welcome! – BGT
Looking forward to it!
Oh my goodness, I can’t wait!
Likewise. Looking forward to it.
Best Regards,
H-U
And – just a hint – the only acceptable response to my post of this morning – is “Yes, ma’am – understood, ma’am. Got to go now ma’am.
Thank you!
Semi-seriously,
Jan
Byron-
You cease to amaze me with ideas of how to improve society and empower mankind. Looking forward to the book.
Lee
Thanks, K. Lee.
Do you have an estimated date for pre-ordering your new book? Thank you.
Hi Suzy, my best estimate right now is the end of August, first week of Sept. I will keep you informed, and I appreciate your interests. – BGT
Merci.
I am looking forward to it! It’ll be another gemstone of timeless wisdom.
Byron: as you research your new book, you might investigate “The Psychology of Money” by Morgan Housel, published last year. The author offers some surprisingly deep wisdom for his age, and I felt that the themes and insights he brings are largely consistent with what you’ve been posting here over the years. I also believe that you bring sufficiently different perspectives to carve your own niche.
My view is that compounding to build and maintain wealth is the foundation of old money. I’m delighted that you’ve decided to write about this topic. The #1 thing I try to teach young people is the power of compounding.
Albert Einstein famously said that compound interest is the most powerful force in the universe. He said, “Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”