Are Your Finances in Order?, by Marilyn Murray Willison

My new personal hero is New York Times science writer John Schwartz, but the reason I admire him so much has nothing to do with science at all. He’s on my hero list because he was brave enough to honestly admit that he was a “financially prudish” and then (as a public service) decided to share his story — and his money woes — with the rest of us. The result is the least didactic (and possibly most enjoyable) advice book you’ll ever find: This Is the Year I Put My Financial Life in Order.

A common trait among baby boomers is the tendency to be a little bit money-phobic. And after decades of chasing dreams, taking care of our children, and doing our best to build meaningful careers, there’s one thing that can slip through the cracks a little: getting our financial lives in order. That’s exactly what happened to Schwartz, and so—like any seasoned journalist—he tackled the problem the way he would a front-page assignment: with analysis, authenticity, discipline, and meticulous research.

Like many of us, Schwartz was eyeing retirement and worried about his ability to stay afloat financially without a steady paycheck. When he expressed his concern to a financial expert (he recommends only using a certified financial planner) that it was too late to start, he was given this advice: “The best time to plant a tree was 30 years ago. The second best time is today.”

What makes Schwartz’s advice so palatable is that he breaks the topic of fiduciary wellness down into small, easy-to-digest chunks. It took him over a year to accomplish everything he needed to, and in his book he walks us through the entire process. Those steps are revealed to the reader in 13 chapters:

1) The project.

2) Get started.

3) Your investment guide.

4) Seek advice.

5) Houses.

6) Bankruptcy.

7) The children.

8) Medical disasters.

9) Guilt.

10) Life insurance.

11) Making a will.

12) Older age.

13) The end.

In addition to the rock-solid advice, this book is especially worthwhile for those of us who are still carrying a fair share of financial burdens in our retirement years, because Schwartz is brutally honest about the financial mistakes he made, like buying a Manhattan apartment at the peak of the market and then being unable to sell it, and never writing a will — even though he was married with three children. His light, informal (and confessional) tone helps us identify with his plight and ensure that we avoid the mistakes he made.

One encouraging insight he offers is the unexpected way our financial obligations decrease over time and with age. And if we take good care of ourselves (such as quitting smoking and maintaining a healthy weight), our insurance premiums can actually decrease.

When asked in an interview if getting his financial life in order had changed him, Schwartz replied, “Money doesn’t keep me up at night anymore.”

And we all know how important a good night’s sleep is for every aspect of our well-being.

Marilyn Murray Willison has had a varied career as a six-time nonfiction author, columnist, motivational speaker, and journalist in both the U.K. and U.S. She is the author of the blog The Self-Empowered Woman and the award-winning memoir One Woman, Four Decades, Eight Wishes. She can be reached at www.marilynwillison.com. To learn more about Marilyn, and to read her columns, visit the Creators Syndicate webpage at www.creators.com.

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