Preview
  • The Behavior Gap

  • Simple Ways to Stop Doing Dumb Things with Money
  • By: Carl Richards
  • Narrated by: Carl Richards
  • Length: 3 hrs and 32 mins
  • 4.4 out of 5 stars (207 ratings)

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The Behavior Gap

By: Carl Richards
Narrated by: Carl Richards
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Publisher's summary

"It's not that we're dumb. We're wired to avoid pain and pursue pleasure and security. It feels right to sell when everyone around us is scared, and buy when everyone feels great. It may feel right - but it's not rational." (The Behavior Gap)

Why do we lose money? It's easy to blame the economy or the financial markets - but the real trouble lies in the decisions we make. As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over. They were letting emotion get in the way of smart financial decisions. He named this phenomenon - the distance between what we should do and what we actually do - "the behavior gap". He found that once people understood it, they started doing much better.

Richards's way with words and images has attracted a loyal following to his blog posts for The New York Times, appearances on National Public Radio, and his columns and lectures. His audiobook will teach you how to rethink all kinds of situations where your perfectly natural instincts (for safety or success) can cost you money and peace of mind.

He'll help you to:

  • Avoid the tendency to buy high and sell low;
  • Avoid the pitfalls of generic financial advice;
  • Invest all of your assets - time and energy as well as savings - more wisely;
  • Quit spending money and time on things that don't matter;
  • Identify your real financial goals;
  • Start meaningful conversations about money;
  • Simplify your financial life; and
  • Stop losing money!

It's never too late to make a fresh financial start. As Richards writes: "We've all made mistakes, but now it's time to give yourself permission to review those mistakes, identify your personal behavior gaps, and make a plan to avoid them in the future. The goal isn't to make the 'perfect' decision about money every time, but to do the best we can and move forward. Most of the time, that's enough."

©2012 Carl Richards (P)2012 Gildan Media, LLC
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Critic reviews

"A brilliant guide to the ways we often trick ourselves into staying poor. Listen to this before you make your next financial decision." (Zac Bissonnette, author of Debt-Free U)

What listeners say about The Behavior Gap

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Average across the board

Not a bad book, but nothing special about it either. Nothing ground breaking or interesting. Basically just 3 hrs of him telling you to not be lead by your emotions, have a plan, and buy low sell high.

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Phenomenal. Simple. Practical!

I am a financial advisor with hundreds of counts. I really enjoyed this book! Will listen again and again!

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great read!

Quick yet informative. For investors, you should keep these rules in the front of your mind at all times for financial success. Loved it.

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Fantastic Book

This book has a ton of good information about investing in the long run, and why we sometimes make decisions that go against our goals. Overall it’s a great book

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great book

easy read, well listen. author kept on topic and followed a structure for ease of understanding. didnt belabor the point just made it and moved on.
some great real world examples given. I have since updated some models in my business plan.

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As a ChFC, RICP, Financial Advisor with around 400 clients.

This book is as close to the guidance you could get from an advisor without actually meeting with an advisor. To the authors credit he shares the value of the profession and why people should have someone to talk through these topics with. I honestly might purchase this book for my top 40-50 clients as a birthday gift this year to reinforce such good lessons in our planning.

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The Only Investing Book You Ever Need

Carl Richards is the rare genius who can explain all of the complex investing and financial concepts in an easy-to-explain manner. A must read for all investors!

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Short into the point my behavior

Definitely worth the read since we all make previous things based on behavior. We all do dumb things based on our behavior with money.

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Another simple yet true reminder from this author!

What did you love best about The Behavior Gap?

Just the reminder it gave to keep common sense in perspective when it comes to finances. Sure, I know this, I have been told this, but doing it needs frequent nudges.

What other book might you compare The Behavior Gap to and why?

His other book, the one page financial plan, which I read first and appreciated the simple style of for wrapping our minds around these ideas - focusing on the simple, important actions rather than the minute complicated peripheral traps of financial savvy.

What about Carl Richards’s performance did you like?

He was relatable.

Did you have an extreme reaction to this book? Did it make you laugh or cry?

Just how simple and true of a reminder it was to just make big strides in the right general direction and not get all psyched out about details.

Any additional comments?

Great little reminder primer for financial common sense.

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Excellent. Sound advice, charismatic narrator/author.

Cannot recommend this more. Especially good as someone in her 20s gearing up for more serious financially responsible behavior.

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