Given the choice of reading a personal finance book or having a dentist drill and fill a cavity, which would you prefer?
Judging by the 62% of Americans who are stressed out about money, according to the American Psychological Association, reading a book about personal finance could make matters worse before they get better. So a finance book needs something to get over the initial fear.
Maybe it's a clever title such as Suze Orman's "The Money Book for the Young, Fabulous and Broke." Maybe it's an author you like or even one who is local. That's the case with Doug Lennick and his son-in-law Ryan Goulart. Both are part of Think2perform, a Minneapolis-based company that provides coaching, leadership consulting, and Business Development Services have improved the decision-making skills and performance of individuals and organizations. Lennick was previously with American Express Financial Advisors for many years (now Ameriprise).
Their new book, written along with Roy Geer, recently deceased, is called "Leveraging Your Financial Intelligence: At the Intersection of Money, Health, and Happiness." OK, the dry title may not grab consumers, but financial advisors may read it and pass it on to a client.
"This book is for advisors trying to make a difference," said Lennick in a phone interview last week. "The financial services industry generates money for the industry and is not necessarily in the consumers' best interest, I hope the book contributes to changing the industry."
The book can be appreciated by the advisor or the consumer. Advisors may need reminding that anyone worrying about finances can affect health and happiness. Consumers who have no intention of hiring an advisor can learn ways to reduce their financial stress from the book.
"This book is not specific to one demographic or income class," said Goulart. "Anything you can do or decisions you can make to reduce financial stress will contribute to health and happiness."